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The Adelaide Real Estate Investors Group AREIG meets on the 2nd Tuesday of each month. So far we have over 50 on our email list, with a meeting attendance of over 20, comprising of a good mix of new & experienced real estate investors. We aim to make the meeting interesting by having a couple of guest speakers to talk about subjects of interest to the group. The discussion subjects are kept in house so networking is possible without the world knowing about it. There is no charge to attend meetings. If you want, email me at [email protected] for further information
Regards SummoG’Day Learn&share, Why dont you email me for details of the July 13th Meeting, come along, there are several members you can talk to about Elizabeth area. Regards Summo
Hi Redwing, Ive come to the conclusion that things are slowing down, after driving around the local area a bit lately & seeing the same props for sale 4 ages. A few sales I know of went below the asking price & one real good reno was withdrawn from market after two price reductions. I think a lot of props on the market at the moment are overpriced for what they are. A bit hard to find a gem among the pebbles
Regards SummoHi Guys, c’mon, surely the is some landlords who have used clauses to good effect.
Regards SummoG’Day Cobra,
I’ve just had a claim for non payment of rent to CGU. The premium is about the same, the maximum payout is $3000 with an excess of $500. This does not cover cleanup, rubbish disposal,gardening unmalicious damage & carpetcleaning costs altho this can be taken out of the bond first before it impacts on the $3000. Further comparisons look good enough for investigation
Regards SummoG’Day Kay & Acey, Unfortunately the tenant has already done the runner despite all the pre lease signing checks & L/L Insurance will only cover part of outstandings. I dont think anyone would knowingly lease a property to someone they suspect would not pay the rent. My reasoning is once bitten twice shy, learn from your mistakes, and put in the clauses for everyone. To use the cliche, dont close the door after the horse has bolted.So thats why I want to know if others have used clauses to good effect. As far as a rent review clause, it must state that the review is for a possible rent increase or it is not valid. A landlord can reduce the rent at any time without notice.On my Tenancy Application form I can legally ask for the Name, Address & contact Phone number of the nearest relative, so that if anything serious happens to the tenant the next of kin can be notified. Any other clauses anyone?
Thanks summoRubberchook, if you cant say something constructive, why bother. Have you done the Navra seminar? Can you talk from experience? If so give your appraisal of it, so we can all learn from your opinion. If not, then the low cost, high value WILL make all the difference to you when you book, I suppose.
Hi Derek, I too did a two day Steve Navra course last year which was very informative & thought provoking with a diiferent slant on RE investing & indeed investing in general. He focused on your investment dollar being used six different ways to maximise growth. He also concentrates on the use of cash bonds to allow the use of achieved equity to increase debt service ratio (accepted as income by the Banks).
I will advise after the seminar my interpretation of comparisons between two day & one day seminars.Kay Henry, thanks for your backup, I believe what you said to be correct. If forums are not to inform people of alternative ways of investing then I think they are doing their members a disservice
Regards SummoThanks Chan$, a good suggestion. Anyone who wants more details of a full day seminar in Adelaide on 27th March can email me [email protected] if you are interested. We have now achieved minimum numbers so it is a goer. C’Mon you croweaters lets support this seminar and a lot more will come our way. Regards Ray
Hey Rubberchook, instead of snide comments, why dont you do something constructive like making a suggestion or two about how to make a post to let people know about a good educational seminar with low costs & high value. That way we can all learn something.Why dont you come to the seminar? You seem to have a lot of knowledge about Adelaide, I suppose!
Admin, I am the organiser of the Adelaide Real Estate Investors Group. We are trying to get the numbers to enable this seminar to get under way. Can you advise me of the best way to let people on the forum know, so we can achieve our aim bearing in mind if numbers aren’t forthcoming by tomorrow it will be cancelled? Regards Ray Summerton
Hi Rubberchook,
No commission, I believe it is good to let people know when something good is happening which will help them in their quest to achieve financial independence thro real estate investing, and at a reasonable cost too I might add.Regards SummoHi Bear, Try Adam Internet in Adelaide, they have different plans to suit differing usage at reasonable setup & ongoing rates. Regards Summo
Michael, Adelaide REIG meets the 2nd Tuesday of each month at the above address the next being on the 13th of January 2004.(Slapped wrist for Bear [
]) Email me [email protected] & I will send you some info.
Regards SummoHi Xenia, the meeting was really good. We covered lots of interesting topics. It was decided that details will only be available to those who
attend. Around 20 from all areas of RE investment were there. Meetings are 2nd Tuesday of every month the next being 13th January 2004. Please send me an email & I will send an introduction form, download it into MS Word fill it in and return it to me. I will send you further info about next meeting after Xmas.Merry Xmas. SummoI have seen lots of posts asking “where can I find + cashflow properties?” To me this is an ideal opportunity for new investors to get started or get their feet wet, with a low output but good returns. I think there should be more of this. Great stuff Bear
Regards RayssThanks for your replies, however now that interest rates are increasing, housing costs are at an all time high, and young couples are chasing the ever increasing deposit and not being able to make it, more people are entering the rental market. Areas other than Sydney & to a lesser extent Melboune, have a low vacancy rate.I have relet 4 properties in the last 3 months all with a healthy increase in rent, so there is demand. If you listen to some Property managers who cry gloom & doom so they can keep the rent down & thus get new tenants with the minimum of effort then the rental market is going to stay depressed. They dont care so long as they get their percentages for doing very little.Why shouldnt tenants contribute to Interest rate increases? Maybe we should have a landlords get together so we can achieve a reasonable return for our investments.
Regards SummoHi Robinhood, I too use Property Manager Pro. It is very good as it prints out a complete Income, Expenses, Profit & Loss for each property for each financial year as well as initial purchasing costs and also a Capital Gain schedule. However, all the programs i have looked at require accurate information input. Experience has shown that it is best to do this as you go, at least monthly.I have a 31 day wooden folder which I put the bills in so they can be paid on the due day, I also use a direct debit to pay the regular accounts automatically from the LOC that the rent is paid into. Each property has its own folder for current ongoing info like leases, bonds, tenant Info, Insurance, Council & water Rates, repairs & maintenance. A seperate folder for each prop for contracts, mortgage info, conveyancer info, house plans & other stuff which I dont need very often.As the bills are paid they go into a pending file for transfer into Prop Mngr Pro when monthly Bank Statements arrive, then sorted into folder & pinned with same A/c’s I.E. Water rates, council rates, bank stmnts etc so they are easy to find when I need them. Thus I am confident that nothing has been missed when I do a printout for my Accountant at tax time.You need to try a few of these programs and put in actual info then do a final printout to see if it satisfies your needs. I hope this makes sense. Regards Summo
Thanks Johnny, So far its looking like twenty or so have indicated they will be coming, which is great.I dont know why but Adelaide seems to be overlooked when the easterners talk about investing in real estate. Information providers dont bother with anywhere else but Melb Sydney Brisbane & Perth.And some of the seminars only happen in the Eastern States. So maybe we can show our strength and make it attractive for these people to include us in their plans
Regards SummoJohnny, It is hard to estimate numbers but 15 to 20 or more would be good. Give us a chance to work out what is the likely future agenda & topics of interest, and link up with others with similar experience.
Regards Ray
]) Email me 
