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My personal opinion is that landlord insurance is not really worth it for tenant arrears. We had it once (CGU), tried to claim a loss and they told us that the bond should cover it. This was in the early days when we had a “professional” agent taking care of the leases and there was no bond!
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Hi Carlin
Has the tenant been evicted? Did you give him a form 2 after 14 days that the agreement was breached?
Do you have 4 weeks of bond to cover some of the losses?
My guess is that you may be able to keep the bond, but not be able to do anything about recouping the rest of the money. Especially if he dosent have it.
Let us know how you go
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582who’s Robyn?
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582my caution is dont buy anything without getting comparable sales in the area.
Some of these people inflate the rent so that the gross rental yields are higher and sell at above market price. With the extra cash they recieve, they can afford to “garantee” the rent.
Do your own due diligence, ring rental managers that are not associated with the group you are buying from and get your own independent valuations done.
I dont know anything about ozinvest, but screen the property as you would from any other seller. They could be legit, but you need to do your homework!!!!
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582yep
bought a commercial property in NZ at 13% return in June this year.We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Hi N
High cash flow properties are unlikely to have a huge capital growth and will tie up your equity. Property that does appreciate quickly is likely to be negatively geared, which means that you have to fund the shortfall. We personally dont buy anything negatively geared no matter what the promises are. Instead we try to create “active” equity through developments, renovations and lease options (although we havent put one of these together yet).
Active equity is either borrowed against or taken in cash (sold) and the money used to buy high cash flow commercial property.
Overall, you need a balance of cash and equity. That was our personally strategy above, other peoples may be different.
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Can answer qu 2,
We have used Active financial answers in Melbourne, they are investors. The accountant we used was Martienne Freeth (03) 9699-7310.
Hope this helps
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582thanks Keneth for taking the time to write those posts in full detail. You sound like a very well balanced person.
I’m far from it, but working on it.
Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Rachael
try putting your request up as a new topic that way it will stand out.
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582they are definately more reliable in a flat market. 6 month old data is off the mark in a hot market like the one we just had.
We use RP data, but always drive by to see the comps that we are using to valuate the property we are interested in
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582hi vernon
what property report was it. They all do comparative studies differently.
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Hi Carly
Im from Adelaide, if you are interested in joining an investor group, please email me and I will send you the details.
Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Shade, look at this post
https://www.propertyinvesting.com/forum/topic/19294.html
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582hi Kay
I totally agree, we need a balanced society. It is highly unlikely that everyone is going to run out and become a property investor, just like not everyone is going to become a medical doctor or a lawyer or an actor.The point is that just because someone IS a property investor, does not mean that they chase money more than anyone else or that they do not do anything to benefit society.
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582learay
we have ALWAYS have this problem and the reason why none of our properties are with agents is this exact reason.
I had an agent tell me that the market rent for one of our properties is $180/week based on its purchase price of $180,000, we rented it for $340 per week.
I lost alot of money in rent using agents at the begining, but I now can make alot more money not having them!!!!
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582And about being an investor, as Voigstr said, you provide a housing solution. I also have a team of trades people and real estate agents that I employ to help with my business.
Isn’t that giving something to society?
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Simple because as a scientist you actually were doing something for the benefit of others, not just yourself – as a property investor you actually contribute very little society.I strongly DISAGREE, scientific research is not about finding a cure for all the little children dieing of cancer (if it was I would have stayed in). Its about MONEY!!!!
There have been experiments skewed by big money making companies that sell cigarettes simply because they dont want scientific research showing exactly how bad they really are.
There are experiments skewed by vitamin companies simply because they want to take perfectly good food refine it in a laboratory and have people believe that eating it in tablet form out of a bottle is a good replacement than eating it in its raw natural state (I’m talking about vitamin supplement companies)
Eg Eating raw carrots cannot harm you because you will get to full before they can cause any harm.
Juicing carrots can harm you because you can injest alot more vitamin A than what it takes to get full on raw carrots.
taking vitamin A tablets has been shown to cause cancer, same with iron tablets etc etc.
Why are these results not out in the open, becuase there is alot of money to be made in selling vitamins!!!!!
I could go on and on.
Science is not a noble career, its about money!!!!
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582J
that’s fantastic, one of the funniest jokes I have heared in a long time!We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Yidn
Love your style of writing, its very philosophical.
I dont’t have any brilliant answers for you, we have created solutions through, developments,renovations (old into new), adding carports, adding extra bedroom via wall (as in Steves case), and offering quick cash settlements to people wanting to sell NOW without waiting 3 months for an agent to sell their property.
Perhaps you could provide some examples for us that you have been involved in?
Cheers
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582Hi Kiwi
thanks for all your helpful information. Sounds like you know alot about these, I’m just wondering, do you allow tenants to take out a caveat on the properties that they are lease optioning?
We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
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phone 0412 437 582
