Forum Replies Created
>>Your phone calls to me to arrange dinners and flights to meet forum members – yes, interesting… you sure do have a rich inner world, Pisces.<<
It all makes for interesting posts Kay.
The world is in such a terrible shape today that a joke here and there doesn’t go astray.
Pisces
By the words ‘government’ I mean all people who are employed by the government in some capacity as well as the members of parliament.
I cannot believe that you are serious Super Ted.
If the government has a real consciousness they would be making many different decisions rather than being swayed by big business to disregard
public interests.Do I really need to give you examples ?
Pisces
Unfortunately quoting a <<edited>> like Jenman don’t help your case….<<Be careful Scott, Mr Jenman apparently is rather litigious.
However I understand what (I think) you are saying i.e. that Mr Jenman is a <<edited>> in the sense that many of his statements are very biased and not balanced and therefore intellectually dishonest.
And, as we can safely assume, he would be well aware of the flipside of his arguments and therefore it is clear (to me at least) that his statements are intellectually dishonest and likely his aim isn’t so much to present a balanced report so much as to get his name before the public in order to promote the real estate offices associated with his organisation.
If I remember correctly there was an expose on him on the website run by the Victorian equivalent of the NSW Real Estate Institute and that wasn’t exactly very complimentary about him.
Does anyone happen to know where the guy (MartinW) who started the other thread, has his office ?
I am asking because it is clear that he is either on the dumb side or else talking through his pocket and, as I don’t like to do business with idits or people who are intellectually dishonest,.
I would be able to avoid his office if it happens to be in NSW.Pisces
My understanding is that the agent is entitled to a fee.
I do remember that, many moons ago, we held a deposit on a development site and the sale fell through.
The deposit was refunded and we subsequently found that the developer and the owner had made a deal and a sale took place without us (as a real estate agent) being involved.
We traced the owner who by the time we found out had moved elsewhere, issued court papers and they settled without going to court.
Clealry the vendors must have had legal advice as to where they stood.
Our case was clearcut. we didn’t have to prove that we had introduced the buyer as at one stage we had held a deposit.
.
However, someone mentioned ‘for how long’ (would the real estate agent be entitled to a fee) and that is a really good question.Does anyone know of some court cases regarding that particular question ?.
There is another aspect as well. On the surface it appears as if an agent wouldn’t be entitled to a fee if he didn’t actually accompanied the buyer onto the property.
In other words, if the agent merely gave out the address and doesn’t actually go with the prospect onto the property it can be held that he didn’t actually didn’t introduce the prospect to the property.
However, since my time (1970 or so) the law may well have changed or else the agreement to sell may well have had a clause inserted into it so as to take such instances into account.
Pisces
Originally posted by afloat:You asked “where” to look.
Well I’ll give you an answer – Manchester UK
Regards
AfloatHi Afloat
Can you provide us with a couple of websites from Manchester, UK here?
A couple of real estate agents plus demographic sites would be excellent.
Cheers
Greg F
QldHi
I appreciate the fact that we can CHOOSE to be where we want to be. I for one have learned a great deal about little things, law things and just plain investment strategy ideas that I wouldn’t have come up with myself. Oppinions are like ….. nostrils, yea, that’s it – nostrils. Everyone has one or two and sharing them can expose your weakness (things you didn’t consider) and your strenghts (things you get a pat on the back for). Running Steve or anybody else down is not necessary in my view. I like green apples, my wife likes red apples. We still share our life with out running each other down!
Choose what works for you.Cheers
C@30
Evenin Myydral
I am using the PMT function in Excel, and believe I will soon need to use IF function sooner or later.I tried this a while back but the limitations with excel is that you can only use up to 7 “if” functions before the program has cittens. Unfortunately, from what little I understand you’d have to set up Macros and Uno’s and Thingo’s that I haven’t had the time to master as yet. I know you can ‘record’ a macro – where yuo click on the “record” button and do what you want that macros to do (ie: insert a row, then to tal all entries in a column, then colour the top cell pink, etc) and once it is saved all you ave to do is then click on that macros button (which you can rename to something fancy) and whatever you recorded will be done before your eyes in a fraction of a second.
Sorry that’s all I can give you. The rest you’ll have to get some one else to show you, or you buy someones spreadsheet! Could be tax deductible – or an income spinner for you!
Cheers
C@30
Hi Russ
YOU WERE RIGHT!!! I pressed the “Quote” button instead of the “Add Reply” and the button came alive with the words “Reply with Quote”, plus a blank email form for me to type inside.
I’ll post this and she how it looks.
Cheers
Greg F
Originally posted by Greg F:Hi Russ
Re the sexy blue stiple wash over quotes used by Forum experts:
I clicked the “add reply” button at the bottom of the last message in the forum, assuming the new post would give me the option of a “Quote” button. But, alas, no quote button anywhere in sight as I’m typing this reply.
HOWEVER, at the top of the blank email form I’m currently typing in I spy the word “Color” in a dropdown menu, and I’ve just selected “Blue” from this menu and cut ‘n pasted your last email. So here goes…
Cheers
Greg FGreg,
I think you use the quote tab at the bottom of the post.I aint sure tho as i,ve never tried it.But seeing as no one else would answer I thought i,d at least try.Hi Russ
Re the sexy blue stiple wash over quotes used by Forum experts:
I clicked the “add reply” button at the bottom of the last message in the forum, assuming the new post would give me the option of a “Quote” button. But, alas, no quote button anywhere in sight as I’m typing this reply.
HOWEVER, at the top of the blank email form I’m currently typing in I spy the word “Color” in a dropdown menu, and I’ve just selected “Blue” from this menu and cut ‘n pasted your last email. So here goes…
Cheers
Greg FGreg,
I think you use the quote tab at the bottom of the post.I aint sure tho as i,ve never tried it.But seeing as no one else would answer I thought i,d at least try.Hi Shaun
Thanks muchly, Shaun (and Hi to Russ!!). Houston Street Larrakeyah’s MUCH CLEARER to me now.
And I take your point (and mild scolding) about doing the research. My last email was my first dip into the top end RE market plus demographics/due diligence. Your websites have already accelerated my learning curve considerably, and saved me a lot of angst. If it’s not too much to ask:
1. If reliable, permanent rentals on your side of Houston St are approx $265-$270pw:
a) Is your 3BR unit brick ‘n tile, weatherboard or hardiplank? How old etc is it?
b) How much does a unit like yours cost nowadays VS what you paid for it (how much capital growth have you enjoyed? Does it pass the 11 second formula?)
c) Would you recommend buying a unit in Houston St? (and please don’t think I’m being lazy asking that cheeky question. Regardless of how you answer it, I’ll check it out independently and thoroughly. I have 16 +CF properties, and I’m reasonably suss about this game: it’s just the subtleities of accessing stuff on the web that tricks me up a bit)2. I’m DYING to learn how to put that sexy blue stiple over my cut and pastes. Can anyone teach this struggling Forum Troglodyte???
Here’s my cut ‘n paste of Shaun’s letter (still without any sexy blue stiple):
“Sorry for the confustion. in houston st are two sides to the street (obviously) on one side (righthand side) there are alot of high rise apartments going up targeting southerners to buy, with a rental ability of around 330 per week (the RE agents wont tell you that its only possible during the dry season) on the left hand side you have units, which although not as flash (or 6 stories high) rent lower (265 – 270 per week) which the locals are more inclined to rent, ie lower vacancy rates.
as for web links here are some of them.
there are heaps, just search the web, ring RE agents in darwin, hit the open house inspections.
its not that hard. but again as you look around some of the suburbs, you will know what not to buy. ie ludmilla has an aborginal housing estate there (no offence) which when seen is very messy.. would someone rent there?
i dont mean to be short, or harsh, but do your homework. i did it with a months visit there last year, then searched the internet for all the stats i needed. that and spoke to RE agents.
good luck with the house hunting
shaunMe again.
I’d LOVE to learn how to put that sexy blue stiple on a piece of text I’m quoting in my posts? I quoted Shaun’s letter in the post above, and was disappointed that it didn’t have the “blue rinse”. I just went Edit, Copy, then Paste. What’s the secret?
Cheers
Greg Fi bought in darwin september last year. you only need the abs stats to tell you darwin is growing quite quickly (CG 8% last quarter, 4.2% in april). that and the nt gov sights say the same thing. i own a 3 beddy unit in larrakeyah (cbd area) and yes there are a lot going up in that area, targeting the “southerners”. i bought across the street (houston st) where i targeted local couples who wanted the lifestyle. across the street the units are targeted at tourists staying for the dry season. very risky especially since there is a 7% vacancy rate for these type of apartments. and the wet season you wont get anyone to rent.
anyone buying in darwin, do your homework very very carefully. there are some dodgy areas that i just wouldnt buy in.
the railway will see an increase in employment for darwin. families will have to move there as the expertise for oil rigs etc just doesnt exist in darwin at present. the hospital in expanding, with more specialised treatments due to take place. surely the government wouldnt spend money on the hospital if it didnt think it needed to.
just my two cents worth.
cheers
shaunHi Shaun
Interesting post. I receive Margaret Lomas’ +CF newsletter (Lomas co-delivers seminars in +CF with Noel Whittaker). In her latest newsletter she said she personally just bought a +CF unit in Darwin CBD, plus a block of 4 units in Armidale, NSW
Shaun. I appreciate your local knowledge, your facility with the abs statistics, and your comments about Houston St Larrakeyah in particular. Two questions:
1. Can you help a newbie at demographics by posting the abs link, plus any other demographic statistics links you’d recommend?
2. Can you clear up an apparent ambiguity for me? You used the phrase “across the street” twice in the following passage, and it confused the hell out of me. On one hand you appear to be saying you’d recommend Houston St, then you appear to be saying it’s dicey. Is it just me? Your words:
“I bought across the street (houston st) where i targeted local couples who wanted the lifestyle. Across the street the units are targeted at tourists staying for the dry season. very risky especially since there is a 7% vacancy rate for these type of apartments. and the wet season you wont get anyone to rent.”Thanks
Greg F
Ah what are you guys talking about. This isn’t business, this is someone’s child we are talking about.
O.K., in hindsight they made a foolish decision by, sometime ago, refusing an offer to help .
A parent is whatever they are. Giving, caring. Which parent wouldn’t want to dig one of their children out of a hole ?
If you guys want to play life with a knife on the table I am just glad you aren’t my parent.
My wife and I have given two children property. One lost it all because of her husband’s desperate ‘need’ to start a business he didn’t know anything about.
They dismissed a suggestion to obtain proper legal and business advice out of hand and paid dearly for their foolishness as they barely managed to retain their home (and, as a consequence, were saddled with a high mortgage again).
Would we give property away again knowing what we know now ?
Yes, of course because at the time we couldn’t possibly have known the eventual outcome.
Would we do it different this time ? Yes, we would put the property into a trust so any husband couldn’t ‘squander’ it to satisfy his own psychological need to prove himself.
Pisces
Thanks Scott.
Pisces
Bad suggestion Jo. Why incur two lots of stampduty if there are other ways ?
Marc, there is absolutely nothing wrong with you helping the daughter in need. The one needing some help could have been anyone of your daughters.
Inflation will eventually take care of their problem and at some stage you will be able to extricate your money.
Pisces
Originally posted by melbear:
Taxes scare off the little guys. Taxes are inconsequential – they are a minor part of the reason to invest. A true investor doesn’t worry about taxes. They take advantage of a falling market and make their money then!”
O.K. Melbear, so 2.25 % of the difference between purchase price and sale price is nothing.
Never mind that because of renovations the deal may well be a losing deal, a tax is a tax is a tax.
So what about a 2.5 % slug ?
If still O.K., then what about a 3 % slug ?
What about a 5 % slug ?
Etc, etc.The words ‘A true investor doesn’t worry about taxes.’ do have merit but not in this context.
The only time they have merit is when one is tempted to go into a deal with the main motivation for going into it being because of the tax deductions one (hopes to) get out of it.
Many people have run into problems in such a situation because they were greedy and ignored the validity of the proffered tax avoidance scheme.
But to say ‘Slug us with another tax, it doesn’t matter as I am smart enough to take it into my stride’ is a recipe for disaster.
Pisces
The first six lines I can understand Bbruham.
That is, I took them as a tongue in cheek comment.Then however you carried on with a lot of what I call unsubstantiated allegations and I started to realise you are deadly serious.
The problem is that, based on the historic record of the Labour Party people sofar, it appears as if on many occasions somehow their brains get fused and it seems as if very little thought appears to go into their logic.
If one pays just a bit of attention to the facts then the reasons for the low standard of education and for the hospitals being in desperate straights are very clear. It is mismanagement by the government.
Throwing more money at bad managers isn’t going to solve their flawed thinking, it sure makes the situation only worse.
But, Bbruham, everyone is entitled to their opinion so go your hardest.
After looking at some of your other posts perhaps you are joking with the whole of your post in question as it is hard to imagine that you could possibly be serious with your remarks !?
Pisces
>>Acey, would you not be better discussing the business with an existing franchisee?<<
What he really needs is a copy of the Manual of an organisation like Mc Donalds as well as a copy of a License agreement to guide him to design his own.
Pisces
Hi smenkhare,
I live in Hedland (WA north near Broome) and we have predominant Fibro houses. Housing up here more than 20yrs is guaranteed Asbestos (the rest is a 50/50 chance). Asbestos is only aproblem if broken and unsealrd, as in frayed. What is being done up here is to modernise these homes they clad it in Colourbond sheeting and call it a Broome Style Home. this has the effect of cleaning up the outside, and it loks realy flash. Here it would cost ~$15K to do a house (but were nuts up here and charge the earth). Most of us here live in these houses and don’t have problems with breaking the walls, but some people get the walls ‘over-sheeted’ with moderday plasterboards and there by sealing the problem. They are easy to modify and, should you wish to redevelop at a later stage, they wont cost you $100K to teardown!
Think about it +ve cashflow does’t always = CG!!!Cheers
C@30
>>Those of you following my other threads may know that I have been very keen on doing a duplex development, which if successful, would keep doing more and more. Found a site, perfect, and the numbers crunch quite well. Enter car, enter a different climate, particularly in 2-3 years time. Enter skepticism, and my plans are on the outer, and I will either i) sit on the fence (like most of nsw) or ii) go to qld and try something.<<
Wrappack, my understanding is that builders (and therefore developers as well I guess) are exempt of the 2.25% additional duty.
Isn’t that good news for you ?
Pisces
