Forum Replies Created
Agents have a fiduciary duty to their vendors, there is nothing in the legislation saying they have to get back to purchasers regarding a rejection of offers. Some ring out of curtesy but they don’t have to.
There are plenty of fish in the sea, don’t worry just look for another property [biggrin][biggrin]
Investment Property Management
http://www.adprop.com.auHi DLPP, yes we do all above as well as make enemies with lots of agents[biggrin]
We run off around 100 -200 offers a month, the aim is to settle on ~1 per month, but we are not always successfull [biggrin]
Investment Property Management
http://www.adprop.com.auGood on you Richard, there should be more people doing it as honestly as you [biggrin]
Maybe I should think about starting one in SA [specool]
Hmmm, I’ll add that to my to do list and maybe it should get done in the next 5 years or so[confused2]
Investment Property Management
http://www.adprop.com.auHouses obtaining premium rents are those that are in better areas, upgraded and provide features that tenants want.
Keep it looking good, make sure it is secure and maybe throw in a service ie gardening included. I have used this before with great success. You can increase the rent to a greater amount that you pay for the gardening service, then claim the gardening as a tax expense too [biggrin]
all the best!
Investment Property Management
http://www.adprop.com.auHow do people know that is no longer exists?
As there are all types of ways to do vendor financing (good and bad), I think there defiantely should be some regulatory mechanism to keep things in check!
Anyone want to start it again? [biggrin]
Investment Property Management
http://www.adprop.com.auJust as a quick (very) rough guide, take the middle price of $200 to $550 per week and say that a $300,000 can rent for ~$300 per week, that would make it around 5% gross rental income which is kind of average for todays market.
THERE ARE HUGE MARKET VARIATIONS AND YOU NEED TO COMPARE RENTS IN AREA, DONT RELY ON ABOVE!!!
Investment Property Management
http://www.adprop.com.auWhat state are you in?
Investment Property Management
http://www.adprop.com.auI totally agree with Kum Yin, a reduction in vacancy rates should offest the cost of property management.
We also see alot of private landlords charging their tenants below market rent because they don’t really know how to calculate the full potential for their particular property. This is another area where a good property manager will result in higher yearly profits [biggrin]
Investment Property Management
http://www.adprop.com.auSarah,
We’ve had some success with securing discounted properties. It’s not as easy as people claim our success rate is 1 in 100!!! Try doing worse than that [biggrin]As Josh stated above, the trick is to find a win/win situation, in the case of obtaining wholesale properties, you need to find someonen who wants out quickly then offer a quick settlement (7 to 10 days) in exchange for 20% off the “median” market price.
We’ve found that about 1 in 100 vendors have this type of motivation, hence our poor results.
Investment Property Management
http://www.adprop.com.auHi Dave,
What state are you in?
I would ask the agent’s to show me the part of the legislation that says that landlords are not to know personal information on the tenants they are putting into their properties.
There is no such legislation in SA, I personally would have no hesitation in providing this info for landlords.
Is your personal address shown on the lease agreement?
My guess is that they either don’t have that information or they are too lazy to chase it up. [biggrin]
Investment Property Management
http://www.adprop.com.auGreat post DLPP,
If you read through the threads, there are always people asking where the positive cash flow properties are or whether it’s the right time to buy or trying to predict whether we are heading for a boom or bust. While all these people are speculating and waiting for the right time, others are taking action NOW and profiting. [biggrin]
Market conditons, age, kids and money are all excuses not reasons!
The other day, I was speaking to a friend who said that it’s too difficult to get into the property market because properties are over priced and he can’t afford to. On the same day, I asked my mother in law why she didn’t buy more properties when she bought her home, her response was that she couldn’t afford to. The purchase price for her home was $12,000 in the 1950s.
The take home message here, is there will NEVER be a good time to buy. Property investors have a huge enemy that is bigger than rising interest rates or property booms or busts, that enemy is PROCRASTINATION!!! [biggrin]
Investment Property Management
http://www.adprop.com.auYep, I get them all the time too and they get more creative each time. I think it’s easy to tell by the first few words that it’s a scam. Sad thing is (and I will never understand it), that some people actually believe them!!!!
Investment Property Management
http://www.adprop.com.auGreat work!
You must be feeling a great sense of accomplishement!!!
Investment Property Management
http://www.adprop.com.auWe set up multi tenancy arrangements for landlords in SA, I dont know the tenancy rules in Gippsland, but happy to offer some broad stroke suggestions.
Please feel free to email me with anything specific you want to know?
Investment Property Management
http://www.adprop.com.auHi there hhn,
I manage properties in Adelaide and I’m also an investor.
I would be happy to assist in the management of your property. Please feel free to give me a call or send an email anytime!0412 437 582 or [email protected]
Xenia
Investment Property Management
http://www.adprop.com.auYes it certainly is, next meeting is 12th sep.
Please email me [email protected] if you want to be included in the distribution list for meeting updates.
x
Investment Property Management
http://www.adprop.com.auHi Hoop,
what kind of stats are you after?
Programs like RP data and up market provide stats on demographics, median house prices, %owner occupiers vs renters etc…
Investment Property Management
http://www.adprop.com.auThanks for your input Jaffasoft, I think I asked this question on the forum before, but what do people mean by “doing it yourself”?
My brother is a web designer and he will be working on the design itself, I certainly wouldn’t want to use my time learning all that stuff just to save money!
I am working on the “text” for him to up load. All the PDFs, and text that goes into it, is done by us (the company directors) not the web designer.
Do you know any web designers that will write all the text for you too? Or anyone that can write good advertising copy? Please let me know!!!!
Investment Property Management
http://www.adprop.com.auThanks guys!
The web designer is actually my brother, who is getting teeth pulled out today:( so I’m not going to bother him about the spelling mistakes. Thanks for pointing that out though.
We definately are investors not invesotors [biggrin]
Also, that is just a temporary web site, just provides a bit more than a blank screen and a few things to download. We are still working on the real one (I like colour and lots of links), but jee it takes a long time!!!
Investment Property Management
http://www.adprop.com.au
