SteveMcKnight replied to the topic general question in the forum Help Needed! 20 years, 4 months ago
Hi,
Commerical property has worked well for me – and how I talk about it in the book is how it is for me in real life.
One quick tip – in commercial the quality of the tenant is even more important. Businesses can start and fail in the blink of an eye, so be sure to do a thorough due diligence over the purchase prior to signing.
I think Wright…[Read more]
SteveMcKnight replied to the topic Rent Cheats in the forum Help Needed! 20 years, 4 months ago
Hi,
Normally I just write off the debt to experience.
However, you can do one of two things:
1. Put the debt in the hands of a debt collector; or
2. Go through the legal system, obtain a tribunal order and have the sheriff seek to recoup the debt via cash, garnishee or by possession and sale of goods.The amount doesn’t seem worth option…[Read more]
SteveMcKnight replied to the topic Mortgagee sale advice! in the forum Help Needed! 20 years, 4 months ago
Hi,
A couple of issues come to mind.
First, if it is a mortgagee sale then you may find that the lender decides to go to auction. There’s no law compelling them to do this, however it is seen as best practice to do so to ensure that a fair price is obtained for the property (and so the vendor in default has no recourse against the…[Read more]
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
We have one book and one surprise product up for auction. Total value if bought through the shop is $330.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
Hi,
Yeah, not sure what happened there for a while. Did a quick server reboot and hey preston… we’re back up!
Yes, we’ll end there end time by 2 hours to compensate.
Most odd… it must be raining in space again.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic Help Needed (Urgent) in the forum General Property 20 years, 4 months ago
Hi,
Yes, you would be entitled to rent at the previous arrangement, however establishing what that arrangement was may prove tricky.
Also, without a condition report who’s to say what condition the property was in when the tenant moved in.
May be better to offer a cash incentive (or perhaps offering a discount on the rent owing??) for moving…[Read more]
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
Good on you Scott!
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
laugh out loud
yeah… make sense of that new puzzle and you deserve a medal!
Seriously… let’s go team and do something special for charity.
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
Heck – $330 value for $30? Bargain!
Let’s say that the winner will be the highest closing bid at a time I’ve written down (to remain secret) which will occur at some point within the next 24 hours.
Don’t hold back now, this is for a good cause…
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum No Subject 20 years, 4 months ago
OK – so now we have a charity auction happening for a signed copy of book #2 when it comes out – heck, I’ll also throw in a new product that is about to be released soon too (worth $300) (secret squirrel). Let’s give the proceeds to the Smith Family.
Roll up, roll up… what’s my opening bid?
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
OK – I’ve just checked with the appeals board and someone with a wierd accent said “I’ll be back” if I don’t award two prizes.
So…. 2 books then…
One for Wrap Attack (the first person with the wrong correct answer) and the other for my accounting buddy Aussiemike (the first person with the correct incorrect) [weird].
Congrats.
Don’t let me…[Read more]
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
Sorry Mel… nice try, but no cigar.
Sadly, the judges decision on this matter is final – however appeals will be heard by the United Confederate of Past Mr & Ms Universe winners. [evo]
Cheers,
Steve
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
so…. aside from a little bit of afternoon fun, the moral of the story is that capital appreciation must be over:
1. Purchase costs;
2. Holding costs;
3. Any negative cashflow; and
4. Inflationin order to provide a genuine profit.
(Apologies again about the slight mix up with the sales costs, the original question should have read 2.5% rather…[Read more]
SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
BINGO!!!
(and D’oh! The sale costs should have been 2.5% rather than 2.25%… sorry [dazed])
Congrats!
Please send brent an email so he can send you out a book when it’s ready.
Stay tuned for the next quiz coming soon…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
I didn’t say it was easy!
All the info you need is there.
Keep trying…
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic A quiz to get you thinking… in the forum General Property 20 years, 4 months ago
Guys…
Try to work out a solution that gives one of the answers specified. I’m after the pre-tax capital gain.
If you can nut it out then include your workings in the answer.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic Approx 8% rental returns, where???? in the forum Help Needed! 20 years, 4 months ago
Hi,
Let’s bring this thread back to it’s basics.
Jo, you ask about 8% yields. I think that properties offering this sort of return are like red cars… once you start looking for them they are all over the place [smiling]
I think that’s way Kay Henry was trying to say… they are out there but it’s a matter of looking rather than being led to…[Read more]
SteveMcKnight replied to the topic What are your thoughts about this ? in the forum Opinionated! 20 years, 5 months ago
Isn’t that a duck??? Quack!
Steve McKnight
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Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic Well Done Steve McKnight in the forum General Property 20 years, 5 months ago
Happy to help [happy]
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********SteveMcKnight replied to the topic wislons prom area warning in the forum No Subject 20 years, 5 months ago
On the other side though, what does it mean for already established blocks?
Surely supply v. demand must force those prices higher!
Interesting… great post aussierogue!
Steve McKnight
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Remember that success comes from doing things differently.
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