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February 6, 2004 - 2:41 am
At last we are getting somewhere Michael. Thanks.
Mini rightly points out that everyone needs to be clear that the decision process has to be part of the the agreement, and rightly so.
I would be inclined to think that too many people involved in the decision process makes it unworkeable.
It is almost like the communistic system in Russia. It doesn’t work.
That doesn’t mean that there is no need to brief everyone as to what stage has been reached and what is going on sofar.
As someone else remarked : “Eight nice guys divided by one problem equals eight very shitty guys! “
And as I say ” Everyone is smiling when things go well but the moment something goes wrong everyone starts blaming someone else.”
There is another problem. The moment one invites too many people one may well need a prospectus and I guess that in the small deals we are talking about, that is to be avoided even if for the cost involved only.
There is one other most essential clause needed to cover a particular situation and that is if at some stage someone wants out.
It is possible to handle that in a very fair way.
Any volunteer clause designers ?
Pisces
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February 6, 2004 - 2:14 am
Yak like yourself I too think it is a waste of money – for me.
That doesn’t however mean that it isn’t value for many other people.
A $ 1,000 fee for a seminar is, as far as seminars go,
pretty reasonable.
Many people here may feel the desire or have the need to attend so don’t knock it.
On the other hand even just one new idea may well put ten of thousands of dollars in one’s pocket, even your pocket perhaps Yak.
Pisces
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February 5, 2004 - 12:50 am
South coast of NSW ?
careful, the longer the distance the more it cost to move and the more risk one runs that the house may collapse during transport.
Before buying
1. get a housemover to give you a quote,
2. consult council to check whether they are O.K. with it (they possibly may want to inspect the house beforehand before they will say ‘Yes”)
3. make sure thew house is reasonably young.
(Not much point in spending up to $ 30 K to move an old house).
If one wants such a deal they do regularly pop up though not every day so one may need patience.
Cheers,
Pisces
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February 4, 2004 - 2:02 pm
Redwing, what security ranking do these deventures have.
Are they secured , unsecured ?
Anyway, why tie up your money as it will be locked in for a period. it isn’t a 1 day notice situation I would think.
Wouldn’t you prefer to have immediate access to your money to pick up a bargain that may pop up ?
Pisces
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February 4, 2004 - 2:38 am
What is fair remuneration isn’t necessarily the same as what you Chan wants to pay.
I guess the market will eventually determine what is an acceptable level.
Pisces
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February 4, 2004 - 1:49 am
If a spotter did it for a living then I doubt he/she could survive on $ 1,000.
Just going to a town and hanging around in the area, what would that cost ? Then add the wages that person could have earned in a normal job and what have we got ?
Most people couldn’t find a good buy in one week so what does a spotter deserve for bringing a good deal to you Chan ?
Hey, come to think of it, this would be a good sticker to put on the back of one’s car : Spotters do it for a living ! []
Pisces
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February 3, 2004 - 11:53 pm
The tenant and the length of the lease aren’t anywhere as important as the location.
Anyway, what do you mean by ‘commercial’ ?
Pisces
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February 3, 2004 - 4:01 pm
I specialise in selling cash positive properties in Queensland.
Have a look at my website
http://www.investinginproperty.com.au
Student accommodation and mature aged accommodation are niche markets and offer returns that are cash positive 5% to 8% net return.
If anyone is interested I am happy to email financials
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February 3, 2004 - 3:55 pm
The properties return 5% to 8% net return before depreciation and tax deductions, so therefore the return is VERY attractive.
Happy to email you the details.
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February 3, 2004 - 3:23 pm
I have been selling these type of properties now for 4 years as I began as a researcher for an investment company and am happy to email profiles and financials.
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February 3, 2004 - 3:21 pm
No, the 5% to 8% cash positive return is BEFORE depreciation, tax deductions etc.
email me for the particulars and I will forward them onto you.
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February 3, 2004 - 3:19 pm
The properties are pensioner and student accommodation
email me for the particulars and I will forward them onto you.
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February 3, 2004 - 3:15 pm
No unfortunately banks will not lend 100% on retirement villages as they see them as a commercial venture.
I sell pensioner units that are completely freehold and yet banks won’t lend 100% on them. They only lend up to 79% usually which means that the borrower does not have to take out mortgage insurance.
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February 3, 2004 - 2:03 pm
yes I can email you information on cash positive properties returning between 5% to 8% net return.
Go to my website
http://www.investinginproperty.com.au
and if you are interested I can email you the financials
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February 3, 2004 - 1:33 pm
Yes I can show you where you can purchase positive cash flow properties returning between 5% to 8% net return.
Look onto my website
[edited by admin]
and email me if you would like to see the financials, I would be happy to email them to anyone.
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February 3, 2004 - 1:28 pm
I know where you can purchase 2 units on 1 title that are 51.sm each for $185,000 returning over 7%net return, in Qld.
I would be happy to send you the details
please look at http://www.investinginproperty.com.au for details.
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February 3, 2004 - 5:07 am
>>Kill two birds with one stone Pisces- marry one of the guys from FiveDock.<<
Life is ironic isn’t Kay. The guy I have my eye on at Five Dock has the hots for you []
>>Aren’t your affairs your wife’s affairs too? Or am I being old-fashioned here?<<
I thought you would know the difference between men and women.
It isn’t a matter of one being better than the other. The facts are that men just appear to be making decisions in a more rational manner.
For example, I married my wife for her money (rational decision making) whilst she married me for more emotional reasons. (I hope everyone realises that this is just an in bad taste joke).
Pisces
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February 3, 2004 - 5:01 am
You are only saying that Richmond because your better half happens to not be in the room looking over your shoulder.
Pisces
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February 3, 2004 - 3:55 am
>>ref blind leading the blind. im not sure i read it that way. more understanding your limitations and then getting the best advise…<<
Good point Aussierogue.
Pisces
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February 3, 2004 - 3:54 am
>>rather than being expensive its the cheapest way to go. if you get a lawyer to develop a contract from the start this will cost heaps. if there is already one in use then use it.<<
I doubt, Aussierogue, that we would get the benefit of an existing agreement. The only one who would benefit is the lawyer who would have an easier task and still charge one for the full cost. []
>>they are easy to find – look up the yellow pages call them and ask them if they have expertise – free….<<
Unscrupulous bastards many of them are I doubt they would admit not having the experience or expertise. Most would, I would expect, say that they are eminently capable of handling the job. [8]
Yes, you are right, the thread is to create discussion (but not because I happen to be in need of details).
Thanks Terry, you have indeed brought up some good examples of pitfalls which do happen in life and which can cause untold problems if not addressed and considered beforehand.
Thanks.
Any other pitfalls guys ?
Pisces