Forum Replies Created
krismoos
The Contract for House and Land Sale is available from the REIQ in Qld but I think you need to be a member to access the blank contract. If you know a Solicitor or RE Agent they may be able to give you a blank copy of one.
Pete
I disagree with your friend about not being a good time to invest – it’s a matter of finding the right deal for your investment strategy. If you look around, there are still properties out there that are good investments.
Pete
Have a look at the Aust Stock Exchange site
http://www.asx.com.au and join MyASX – it’s free – a good starting place with lots of tutorials and information about trading.Normally landlord insurance policies only cover the property while it is untenantable ie. while you are doing repairs due to damage from previous tenants.
I would be surprised if they payout if your PM gave the tenants back their deposit/bond
I would definately seek legal advice about recovering the money from the real estate and changing property managers.
When I had to evict my tenants for being behind in their rent my PM worked very hard at getting all of my back rent out of the tenants and suceeded.
Pete
If you have ever read Robert T. Kiyosaki’s “Rich Dad Poor Dad” he says that your own home is a liability as it does not produce positive cashflow. I would recommend this book as a good read for anyone thinking about their money and how it is spent on assets or liabilities.
I have an IP with my Brother and Brother In Law that we rent on a room basis to students – however my brother also lives in the house and is able to look after any problems on a day to day basis.
Another thing to consider is that during holidays (eg Christmas 2 mths)students usually go home to their parents and don’t want to pay rent over that period.
The rooms in our place are vacant during that time but we have factored that in when deciding on room rent rate for the semesters.
Pete
