Hi vluu,

What’s the going rent in the local area where your IP is?
I don’t think it’s your problem that he’s not using all 4 bedrooms???
If he genuinely can’t afford it (does he have a mobile telephone, X-Box or Playstation, Computer, Video, DVD, CD, Huge TV , 2 cars, etc OKAY I’m a cynic []) offer a discount for limited time and tell him you will have to put up the rent (you are NOT a charity – well not until you have enough income to support charity methinks) at the end of this period. In the meantime you can let him know you are advertising for tenants who need a 4 bedroom house.
Personally, I think you need to nut it out with him, but YOU need to take control, after all it’s your property.
This is assuming you go ahead with settlement and agree to have the tenant remain in the property despite the ‘vacant possesion’ clause. I agree with Rod C and everyone else who suggests you get legal advice.

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi there,

There are a few posts on this

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=2457

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=2137

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1158

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=199

Hope this helps.

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi there,

I think it depends on the tenants motivation. I was always taught “You don’t s..t where you eat” I’ve known people who’ve rented for over 40 years in the same house and other than normal wear and tear the house is immaculately kept.
In 6 months, I will send out a gift voucher to our ‘tenants’ to thank them for keeping the property maintained and garden tidy…
I guess another question you can ask is..What type of landlord are you? Does the quality of the tenant really depend on whether the house is -ve or +ve cash flow?
Huey, that’s an awful thing to happen to a new house! I hope your next tenants are better than the last.

Cheers
Sooshie []

“small steps make the journey” (SAS)

HI there,

I meant to reply to this post before I was sidetracked by my children wanting to play on the ‘Bob the builder’ website.
Anyway…
Prices just before I went overseas on my June holiday, went sky high as they had investors purchase site unseen over the phone. Co-incidently straight after Steve’s last seminar []
I think the last severe flood happened in 1981 (but don’t quote me). Just ask the real estate agent if it’s “In Flood” and they’ll know what you mean.

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi there,

Check out this mob aswell. Look under list of suppliers…

http://www.bigapl.com.au/index.php?fuseaction=home.main&PHPSESSID=4f4af3954df4ba06cecea32ead185bb3

http://216.239.39.104/search?q=cache:RHTgya7h97kJ:homemart-recentral.com.au/cp1/cp1/Powerup/Services/B2B/Homes%2520Guide%2520One.htm+second+hand+renovation+supplies+Sydney+North+West&hl=en&ie=UTF-8

Actually this is a really good link
http://www.homemart-recentral.com.au/

These lists you’ll have to sort through to find your closest location

Hope this helps some…

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi there,

I’d go the more conservative way as Stu suggests. Although in fairness to Picja, I think his approach is creative, but I think you really need to know what you are doing before doing the ‘super’ thing.
On what basis did you pay the mortage broker? Is this part of accessing the low doc loan as Picja mentioned or is this an independant mortage broker?
Generally the mortage broker will be very helpful, until you suggest

quote:

---

In case, my mortgage broker cannot do anything about this, or if he can suggest something and i am not happy can i get part of the 3,300.00 i paid as his commission

---

I think money talks very loudly with MB’s.
Let us know what you decide to do and how it works out. Don’t give up though, solutions abound!

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi there,

I guess that’s like Dayelsford in Victoria. The lend is generally 70% LVR. There are exceptions of course. I don’t know if checking the postcode helps though, in the Dayelsford area. Maybe someone else knows about this.

Cheers
Sooshie []

“small steps make the journey” (SAS)

Hi Zuki,

Thanks for the insight. I always wondered how they could manage in 2 days to complete an entire transformation. I know how long it took me and my hubby to put up a pinboard for my son’s artwork, 2 hours later after spending approx $75, it was well worth the smile on Phillip’s face, but I couldn’t imagine being able to do artwork from scratch, renovate a kitchen, polish floors, paint walls all in 2-3 days.

You made a very good point.
Keep up the good work.
Sooshie []

“small steps make the journey” (SAS)

Hi Marty,

I’ve heard of them, I think there was a mention in a post ages ago, anyway, maybe do a search on a web engine (ie. google or yahoo, alta vista etc).
What sort of property are they building? Commercial? Residential? Inner city? What’s the entry price level and is it negatively or positively geared (I think it’s negative, but you never know).

Cheers
Sooshie []

“small steps make the journey” (SAS)