Forum Replies Created
- Originally posted by RentMaster:
Absolutely!
Unless you are paying cash or a large cash deposit, the banks will require you to get a valuation anyway. The banks are not dumb. If they are going to give you a lot of money, then they are going to ask you to do their due diligence for them.
So if the banks thing it is important, then it should be important to the investor as well.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsI’ve been told by my bank, the Valuation of a property is what it’s sold for.
They only do valuations on the property we have, each time we purchase.
They Value our Equity each time we purchase.
Our bank is the ANZ.I never use PMs for this reason,but it meens I can’t cast my net too far from home [glum2]
Coffin Cheaters member ship may help.We have given a gift at Christmas time,shame it did’nt seem to help get the rent in on time.
[glum2]In W.A
We have been where you are now, but there is light if you follow dew process Legal process.
Serve with Frailer to pay rent.
After 14 days serve with Eviction notice.
Get a copy of:
The Landlords Handbook
The Key to Successful Property Management
Department of Consumer and Employment Protection
http://www.docep.wa.gov.au
[medieval]Originally posted by DreamBig:My first post, but this topic digs at my passions. My partner and I have had investment properties in Australind, Mandurah and Collie over the last 2 years. We have experienced incredible capital growth in all areas.
A few months ago we sold our Collie property and reaped a whopping 38% profit after on 1 year. Our Australind and Mandurah properties are performing at the same rate or better.
We are continuing to purchase land in these areas whilst the market continues to grow. In our 2 years of investing we have moved from a modest portfolio of less than $200k to having a portfolio worth in excess of $1m.
With the economy being in such a strong position and only continuing to improve here, now is not quite the time to stop buying in WA. [biggrin]
Come South Come South all Ye Investors
Are I see,
Logical much the same as what we do when developing.
Buy a block with no title in a new development no title no money to pay out until titles issued.
In the mean time lock into a house plan at $xxx on the block.
Hopefully after 12 or more months 18 would be good, you have a house and land package to sell at tomorrow’s new price.
RegardsForget Perth and Geraldton
Come south young people Mandurah, Astralind, Bunbury and Collie.
RegardsI agree with you again.
Stubdorn is good,
Firstly offer 10% less than this and move up very slowly is good,
long settlement of 6 months or more Why?
Only pay above valuation for properties consider crucial to achieving specific business goals but the vendor would never be made aware of these,
is also good.
Why 6 month settlement?
RegardsOriginally posted by The Mortgage Adviser:I know it is cheaper to do it yourself. Back to my question, how do you know a good experienced agent could not get you a better price?
I love dealing with private sellers. I find it very easy to negotiate better deals with them.
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksI agree with you friend [fart] we have no idea if an Agent could not get a better price.
In fact I can tell you if we were to list the unit with an Agent they would be listing it above 200,.
At the end of the day a good price for any thing is what you’re happy with.
Fitz72 was pleased with the sale in Mandurah and that’s good, made some cash and will stay in the game and that’s even better.
Seen any thing in Australind lately?
I just know you would be a STRONG negotiator [wacko]Regards
No slaping Agents but.[blush2]
You can get “24” 80×60 2 colour adds in the Property lift out (South Western Times) For $732.
List you property on the net for free.
Have 2 good sized signs made for $90. (Reusable)
2 Open home signs $50.(Reusable)
All the paper work from your Settlement Agent free.Regards [biggrin]
Excellent Fitz72,
And your next move is ??
regardsPrivate nice way to go.
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=21772http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=20440
These where free.
regardssorry,
Take the cash and “RUN”
I did this and I’m 2m better off today.
RegardsBut the train’s comming.
Greenfield’s? I have some friends who are developing in Greenfield’s they are doing well.
We are developing in Lake Lands, outstanding growth so far.
Returns and Growth should jump again when the rail is in place.
We have land there just sitting in our back pocket we will develop with 4×2 and 3×2 homes.
But then again come south and its the same story, but you should be aware that it will cost 22% more to Develop a property when you drive over the Dawesville bridge.
Established properties are hot in the south west at the moment.
We are moving more into Development now so we have a 3×1 unit on the market 189,or above.
There’s a nice strong pules in Mandurah and to the south Australind, Bunbury, Busselton sum say its far to hot and needs to cool.
RegardsOriginally posted by oshen:I had a strange situation recently on a contract where I didn’t want to put down a huge deposit. The REA wrote down that I would pay $500 or whatever deposit on exchange of contracts and 10% deposit payable at settlement. Apparently this would make the vendor feel better about it since they are getting a 10% deposit. Maybe they’re supposed to not notice that it isn’t payable until settlement? I thought it was all a bit strange myself. This happened in QLD.
This is one thing that gets up my hooter about Detosits,Ajents “for” Vendors making up there own silly rules as they go along.
I would be temted to give that agent a good slap and walk from the offer.
regardsHi collie
Fantastic,our 2nd IP was in Collie W.A
Any conection with the town??
RegardsWe are building in Mandurah,a specky.
Mandurah is a good plase to be we sold up in collie to get in there.
Yes Mandurah, Australind and Bunbury are good location’s.
Good LuckSolamon,
I would go south young man,Bunbury Australind area
do an owner.com.au search.
Should fined somthing to keep you happy.
RegardsOriginally posted by The Mortgage Adviser:The no deposits has been discussed in another thread. It does not always work.
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksMaybe not, but for our past 1.2 m in contract’s it has.
RegardsOriginally posted by Terryw:Originally posted by The Mortgage Adviser:……..
As for not paying a deposit, as a vendor, if I did not receive a deposit, I would not consider it a valid contract as no ‘consideration’ has been provided by the buyer and I would sell to anyone else who offered me more and paid a deposit. I don’t think I would lose in any court on the grounds of ‘no consideration’ by the initial ‘buyer’.
………Rob, I think you will find that consideration does not have to be in the form of a deposit. If someone has signed a valid contract, then the consideration is the promise of payment. So a deposit would not really be necessary.
But I am no lawyer.
Terryw
Discover Home Loans
North Sydney
[email protected]Thankyou terryw,
This is my point I some how failed to be able to get across.
Here in W.A if you put in your an offer to purchase it is just that an offer to “Purchase” (to go all the way to the end and purchase.)
Now that said, To get an out of an offer to purchase you must have “subject’s to” these “subjects to” are your keys out of the deal.
Ok we still have deposits, showing your commitment to the deal and so on.
But the offer , (contract) is a 100% valid contract with “NO DEPOSIT”
All our contracts have been “NO DEPOSIT” and we are on Planet Western Australia.
Agents May try to get a Deposit out OF Me (Us) but at the end of the day they know that the offer is a 100% valid contract with “NO DEPOSIT”You as the vendor have some options up your sleeve as well, you can tell this hoon with no deposit to go take a hike, But if this hoon is offering to give you all the cash your asking and this hoon’s subject’s to are not un reasonable then who would be the fool not to take this Offer.
Oh and by the way I learnt about “No Deposit” when working in Real-estate in QLD.
Regards.[oneeyed]
