Forum Replies Created
In smaller areas the question of where your next tenant will come from becomes harder to answer. And your 5% property now could well be a 6% property in two years, keep your long term eye open.
I just happened across the site which seems excellent, and saw comments that needed further comment. I note that whilst others seek to denigrate me, they have not been able to refute my comments – suspicious? I've been in business for nearly 40 years and have learned that if you decline an opportunity because the other side makes a profit you won't make much money yourself. Cheers
First thing to consider is how easy it would be to find a replacement tenant. The value of the tenancy determines the value of the property. A multi tenant property reduces the risk, such as a small suburban shopping centre or multi tenant showroom.
The rental commission paid to agents is so small that they can't afford to allocate the time necessary to each property, or to problems before they occur. Search for a personal recommendation for an agent or be prepared to do it yourself. Make sure you have tenant's insurance.
Following Mark Coburn's advice nobody would ever buy a house because the real estate agents work for the seller. Yes it is true that something could go wrong with such a transaction but it's not common. After all everyone who drives a car risks accident, everyone who has a job risks losing it, everyone who exercises risks injury. Nicole if you look at Mark Coburn and Jamie Moore's posts you will see that they too have a commercial barrow to push. They are simply throwing mud at a competitor. Whoever you choose to use for your financial advice ( and all these companies use licenced advisors as is required by law) the worst mistake you could make is to do nothing. The most common mistake in real estate is to pay too much but fortunately that is self correcting over time as values rise. You may be interested to know that the USA Fortune 500 people have 70% on that list make their money in teal estate. Take the hint.
