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not that it is anything relevant, but I grew up in Chapel Hill and went to Indooroopilly state and high schools, back in the seventies. My father worked at Channel Seven and Channel Nine on Mount Cootha as news editor, Then I moved overseas for 26 years. I have extremely fond memories of that area, riding our bikes to greenhill reservoir, vividly remember the floods. Out all day, a safer time back then.
It would be a place i would love to revisit and possibly live there again, but I think my kids would have something to say about leaving the Gold Coast.
Hi Shane,
is this a new unit or is it already completed and they are just developing two more units?
If it is new as i think it is, are you sure there is no mention in the contract and special conditions, perhaps even in the body corporate breakdown (if it hasn't been set up already, the contract usually has a large section for this, in QLD anyway.) It would seem fairly unusual , in my experience, for the driveway and landscaping not to be mentioned in the contract and even more unusual for the developer not to include it in the price, of course unless your dealing with a cowboy.
I don't know what state you are in, and i don't mean nervous, but even if it has been counter signed definitely have a word to your solicitor regarding the contract and the wording of the clause you want, better a professional does it. The contracts can be amended at anytime if both parties agree and if the developer is going to honour his promises – which really should be the case, he wont mind the changes.
perhaps just have a scout through the contract again in case you have missed it in there somewhere.
In QLD you will have to have the disclosure statement attached to the contract so it really shouldn't be a drama for the agent. They should have a copy of it when they list the property – but not always. Minutes generally need to be requested. A good sign of management is if they have a set – which of course they should, especially on site management – and they happily pass it on. Nothing to hide. Also expect some animosity from the on site management if you are going to live in it. They do not like it!!
If the building is second hand and pre 1997, just make sure you find out what the body corp covers and more importantly what it doesn't. Wouldnt hurt to ask regardless of the year built really.
I think you should message Richard, the finance broker who is on here quite a bit. User name Qlds007 – I think. He seems to be pretty well up on the ins and outs of doing exactly what you have mentioned. He seems to give sound advice and has a lot of trust from the members on here.
thanks for the post Michael.
Blue grass,
I am not sure if I am understanding your request, are you meaning you want corporate tenants or a corporate company that leases to tenants. but i might know of someone.
I have sent you a private message regarding something else, we can discuss both when you reply.mate if they are selling four to five a week they would be making a lot more than fifty Kay. I doubt whether there are too many agents selling that many at anytime of the market.. I think some exaggerating is at hand here. Of course i only know my market, maybe interstate it could be different , but four to five a week, every week, I would doubt it. Project marketing on a hot development possibly, but you don't walk into a P.M. job with no experience.
Average amount, I don't know i haven't worked for anyone for a long time now to know what it would be, and because of how i operate, i really don't have much to do with other agents. However, if you are good a lot of money can be made and if you are not, then you won't make any, pretty easy really.
The one thing I love about it is that the lifestyle it can offer is great. I take my kids to school, pick them up from school, can go do what ever i want with them as long as i have planned my day around it, play golf, ride my bikes, I make the dinners, which I enjoy and makes for a very happy wife who works at her own career. It took ten years to get to that stage and I am no longer in general real estate but I had to start somewhere, There have been plenty of lean times but now it works well for me. Don't be too worried about the money, be more concerned about are you capable of putting in the effort, the money will follow.
Calvinci and Karen,
The rule of thumb is the old 80/20 rule. 20% of the agents ,make 80% of the money. It's not easy, you quite possibly wont see any income for the first three months, and then when you do you have to pay back the retainer. Realistically most agents would struggle to make the 30k a year (not that they would admit it, business is always great.lol) and that is why a lot don't last more than a year. You need to be prepared to give up weekends and also evenings during the week.
Getting listings is what you should be aiming for, because what people don't realise, getting an exclusive agency is as important as making a sale in an estate office, and if you don't produce listings then it will be "so long, thanks for your time" in very short order. You could do alright just being a "listing agent"and rely on other agents selling your listings. Do not think for one minute, as do the majority of people who knock agents, that stitching a deal together is easy – it ain't. There are at least two personalities involved and 99% of the time each one thinks their considerations are right and the other – be it vendor or buyer – is being unreasonable. Deals can fallover because of a thousand dollars difference.
If you want to achieve 80k that's great, but unless you are ready to put in 100% effort, forget about it. A lot more can and is made by agents, you just have to work your way into that 20%.
Karen, most people don't really hate agents, it's just one of those things that people like to do. Jump on the agent bashing bandwagon. Possibly back in the day, there were a few more dubious acts happening , but not for a long time now. There are of course exceptions, but in this day and age, no more than any trade. Honestly how many people have had a really bad incident with an agent, and i don't mean someone who is put out because they thought they could act how they liked and ended up losing a deal or something a friend has told them, , because it is generally hearsay and exaggerations. I know, because when ever I go somewhere and meet new people , you tell them your an agent and some will want to talk your ear off about real estate and get your opinions. I have never had anyone tell me i am a horrible person because of my job.
Don't work for an overstaffed agency and don't get pushed around by the old hands. Make sure you have a clearly defined area and don't let other agents do the old chestnuts "oh this one is an old referral or it's a friend of mines cousins auntie, who has asked for me especially" trick.
Have fun.
D.
Fair enough, like I said, interested to get your reasoning.
depends on the solicitors involved, some prefer to end the contract and draw up new ones, others that will work together – not always an easy thing to find – can just make the required changes.
I agree with Richard on the cooling off period, you will lose a few bucks, however if you have also left the building and pest inspection part of the contract – fourth one down on page 6 of the the contract if a unit, page four if a house – or you haven't inserted a special condition clause regarding B&P inspections then not much you can do about it. It is my understanding if all three parts of the B&P clause are not filled in then a seller could really enforce the contract.
I always advise my clients to wait until the finance is approved before getting the B&P done, simply because at around $400 you don't want to outlay the money if your finance is not approved.
Why Robina?? Would like to hear your reasoning for that particular suburb. Southport , I can understand to a certain degree, but Robina always leaves me a little stumped as to why people buy there. That is not to say it isn't worth a look, just would like to know what made you come to that conclusion..
I tend to agree with Bluegrass, generally speaking you have guaranteed rent built into price. Check wth a few local agents as to whether they agree with the rental forecasts.
Hi Chris,
I have been selling investment properties on the Gold Coast for over ten years now, so i am possibly a wee bit one sided on the Coast and I fully believe the Coast will see excellent gains in the future, in fact some parts have seen growth during the last 18 months regardless of what you may read about.
If would like me to contact you to discuss further – without any assumption of selling you something – let me know or email me at your leisure, i would be more than happy to chat. I may not have what you are looking for, but i certainly know the Coast like the back of my hand and would be able to give you some guidance I'm sure.
I am in the Brisbane area, but own property in Auckland.
Hi Pvrpunnad,
I may be able to help with the Brisbane area, and that is the price range i tend to specialise in. Please email me if you would like me to contact you.
shubh wrote:I would suggest you to go for window AC, because it is cheaper. Your extra investment for split Ac is not going to be covered up with increased rent.
I would disagree there, the window AC is a shoddy looking bit of gear and prone to mishaps. Air/con will always give you a higher rent and will certainly pay for itself and therefore become a value add on. Like most aspects with investing, takes a bit of time. Some one mentioned the life span as being five years, that maybe right but I have clients who have air cons eight years or so old and they still are kicking on.
Even at five years with an increase of 15 dollars per week for the aircon, that's an extra $3900 and lets say the cost is $1400 (max) I think that does make it worthwhile, don't you?
HAve a look in API magazine, plenty in there and one – who I cant remember – has the REIQ buyers agent of the year banner.
Shubh,
You must have had some real dud agents in your time. I have read three posts by you all alluding to Real Estate Agents not doing this and not doing that, generally being dodgy.
Let me assure the world, we are not all incompetents and lets be realistic, every walk of life has their shonks. Some cynics might even say you are just posting to get people to follow the link to the book you are flogging off – but not me of course.
Let me know if you need a good agent.
As i deal only with investment property and not end users I can tell you most definitely 10 – 15 dollars a week extra. Some tenants already in place may prefer to live as is and not increase rent, but absolutely put in between tenants if that is the case. In a townhouse situation maybe even an upstairs in main bedroom and downstairs in living area would see an increase of possibly 20 plus dollars. Air con is so cheap these days, your $1400 seems a bit over the top so check around, it's a great way to increase returns and help keep happy tenants.
; "Thumbs Up")
