Forum Replies Created
Hi Kim
I forgot to add. If you really want to know, go around to all the realestate agents in your area and find out what they are selling newly build houses for. If you are going to put the houses up for auction make it clear to the agent what your minimum price is on each housegood luck Michelle
could it be because agents want more for their dollar. If they sell at auctions rather than private sales their commision is higher. Do they ever put the sellers interest first.
regards Michelle
Hi Scottby,
what is a 7/5/5/5 leaseback. i am also considering investing commercially instead of residential
regards michelle
Hi Warratah 78,
when you say that a certain suburb is not very good to live in, have you throught about how this suburb may be in perhaps 10 or 20 years. about 10 years a go i brought a property in what was throught of as a lower class suburb. I remember my son coming home from school after doing a project on the melbourne infrastructure projections for the next 20 years. thereby buying a cheap property a couple of blocks from perhaps the largest shopping center, also good transport, hospital, and schools. Today i still have this property which is in a nice suburb where rentals are in high demand.regards michelle
hello;
I would like to share my experience with you, however I do not
recommend you do anything i did.
this is what happened to me. the tenants did not pay rent for two and half months. took them to the tribunal court who ordered the tenents to pay monies oweing. tenents did not pay outstanding money and had to take the tenents to the tribunal a second time. The tribunal allowed the tenents a further one months stay after pleading hardship and they had to vacate the premises. Of course outstanding money was not paid.
To get the outstanding money owed to me I had to approach the magistrate court with the tribunal order identifying that the tenents owed me over 4000 dollars. Before going to the magistrate court i had to get the order witnessed by the local police station and i had to know where the tenents had moved to before the magistrate court would give me a application for a sheriff to go to the tenents
premises and issue the warrant. after doing all this the sherriff came back and told me the warrant was issued but their was
nothing he could claim because the the law states you cannot
take immediate essentials from people. i.e if they had two cars
under their names i could take one.On top of that the warrant only lasts one year. So after a long process i learnt never to go through courts as they only help the tenent.
This has also happened to me a second time, but i did not go through a realestate or courts. I took matters into my own hands. The tenents new that after 2 weeks of non payment they would be evicted. How did i do this I moved in when they were at work and put their items on the road. I have a large family.for tenent selection i strongly advise to
-have building and contents/damage insurance
-automatic payments into your account (if they have issues with this they may have issues paying)
-know and verify where the tenents have worked for two years(are they reliable)
-evidence of who they are (lisence, birthcertificate, passport)
-no dogs (normally damage back yards/inside house)
-inspection at least every six months (maybe damaging your house)
-rental arrears-contact person 2, 3, 5 days by phone and send reminder letter. 10 day send final letter. 15 days send notice to vacate.I live in Melbourne Australia. i know from experience if you do not know where the tenent has moved to you will have to pay someone to find them $$$$. Then if you do find them they will have to own two of the same item.
thank you for a good question. What do all you realestate agents suggest.
wish you all the bestregards michelle
