Forum Replies Created
what is an experienced propery investor? someone who actively buys property bacause they are cashed up? Or someone who can spot a good deal whether they have the finance to buy it or not?
I wouldnt get too down Darryn, if your willing to put in the time and effort to learn the proffession, you can sell great deals even if you cant buy them yourself. Im often conserned with the “wealthier” bird dogs, how many of the great deals are they buying for their own portfolio? And how do the deals they throw to their clients compare to the ones they buy themselves? I dont mean to be cynical, but I doubt they are equal!!!
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582Hi Uforia,
You could try a home stay situation, where you rent out a room to international students for about $150 per week, depending on the intitution which provides the service. In SA, this is tax free for a max of 3 students. If you have the time, you could provide full board home stay, we did this for 2 years with a couple of international students and it was certainly an experience. they pay $200 per week each and you provide them with 3 meals per day + use of all facilities. And its all tax free!!!! legallyWe buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582Hi Veronica
instead of trying to debate about who keeps the bond, the best thing to do in this situation is to 1. give the tennant a chance to remedy the breach of contract. ie give them a chance to pay back what they own, if they dont, the money owned can be deducted from THEIR bond money.
2. try to mitigate your losses ASAP, get the house rent ready and put it up for lease again. Any money you have lost in the process as a result of the tennant leaving early can be deducted from the bond. ie, if it takes a week to find a new tennant and it has cost you $50 in advertising, you can deduct from the bond one week rent + $50, the rest should be given back to the tennant. Making them pay until July without you actively trying to do anything to mitigate your own losses would not be looked upon favourably in a tribunal hearing.
In a nutshell, the bond belongs to the tennant, however, if the landlord has suffered financial damage due to something the tennant has done, that financial damage can be deducted from the bond. But you just cant keep their bond because they have left early, if you have lost no money as a result.hope this helps
Xenia
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582well put surrey,
its about time more landlords started to treat tennants as a valuable contribution to their business and as their #1 customers, instead of treating them like pond scum. Tennants are people too and without them property investing would not exist.cheers Xenia
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582Hi Lily,
looks like you have ~$300,000 of equity in your current home that you can refinance and do something with. Why not put that towards an ip, instead of having it sit there and do nothing. I think your idea of selling your home, buying a smaller one and using the excess cash to purchase ip is a good one, your on the right track in your thinking.I would start off by seeing a finance broker to see what they can get you based on the equity in your home, then approach agents to see what your house could sell for.
cheers
Xenia
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582interesting!!!
If rich dad exists, he would own half of Hawaii, he couldnt be that hard to find.although Kiyosaki books are very entertaining to read, I find them very repetetive and I can usaully summarise the entire context of the book in a couple of paragraphs. Still, he is a marketing machine and he has to have something to write about, even if it is padded out with waffle. Steve Mc Knight, has pretty much adpted his ideas from Kyiosaki (after doing one of his courses I believe) and his wording and phylosophies are almost identical. However, Steve, has tailored the ideas to the Australian market, so his courses may be more beneficial.
cheers
XeniaWe buy properties in all conditions. Quick settlements, no agents required
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phone 0412 437 582not sure what would suit your own financial circumstances, advice from your accountant may be best.
We buy these kinds of deals in a discretionary trust. This allows distribution of the funds at your discretion. If there is a member in your family who is on the lower tax bracket for earning, you can distribute more to them and less to the people on the high tax bracket, hence minimising the CG from your investments. This is the extent of my very limited knowledge of trusts, Im sure someone else can explain it better or offer more suggestions.Cheers
Xenia
We buy properties in all conditions. Quick settlements, no agents required
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phone 0412 437 582does anyone know the exact wording to put into a building contract for penalty provisions?
We buy properties in all conditions. Quick settlements, no agents required
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phone 0412 437 582I agree
do not ever trust a real estate agent for anything. take what they are saying into consideration but do your own due diligence.cheers
Xenia
We buy properties in all conditions. Quick settlements, no agents required
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phone 0412 437 582hi Cheesy,
yes there are about 8 buyers agents in SA, listed under real estate buyers agents pg 1649 in the yellow pages. Im not sure how successfull they will be in finding +CF property, but you can give them a call to see what they can do. The kinds of deals that we find are houses to value add, ie renovations and subdivisons. So, far we buy everything we find, spotting is just a thought of what we can do if we reach our finance limits.Cheers Xenia
We buy properties in all conditions. Quick settlements, no agents required
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phone 0412 437 582hey what happened to my last reply??
Real Cash for Real Estate
We buy houses in all conditions, 0412 437 582personal guarantees do not gaurd you against tennant bankruptcy. Bank guarantees are more valuable in a lease because the bank guarantees your rental payments should the tennant default.
Another question I might ask is if the lease is subject to yearly increases. The norm is a few percent above cpi. Also, if the tennant is late in paying rent, is there a penalty? Overall, I would be looking for a strong lease written in favour of the landlord.
kind regards
XeniaSelling your house or investment property? I buy real estate for cash! Please email me at angelo.xenia at optusnet.com.au or ring me on 0412 437 582 to discuss.
the 11 sec solution flags rents that give a ~10% return. From there you need to work out what is norm for the UK market and what is a good deal there. And also take into consideration, what type of finance you can get there. Im not familiar with that market at all.
what is a battle axe block?????
I agree, NEVER is a long time but they ARE difficult to find. if not please show me where to sign
Yes, property prices have doubled in Adelaide in some places, does this mean that now they are going to drop by 50%????
UNLIKELY, but if they do, we can all stop wishing that we have bought more years ago.
Hi ije
first of all congratulations on making the descision to take control of your financial future, and that of your children. Attitude counts for 80% when it comes to investing and skill counts for 20%. So keep reading and learning all you can. I definately agree with continuing to rent for the moment. As well as saving some more of a deposit to help you buy your first ip, you may also want to consider things like joint ventures, mezzanine finance and small commercial syndications, to get you started.all the best
XeniaHi Guys,
in terms of +CF properties that meet the 11 second solution straight off the bat, they were available 5 years ago around the Salisbury area but are now very difficult to find. Adelaide has not experienced an extreme property boom like Sydney and Melbourne so may only be due to a minor correction in the future, I really cant see Adelaide prices dropping more than 10%, and I think prices in Adelaide will remain stable in the future. However, that is based on theory and anything can happen. There are alot of great investors doing great things and making lots of money in Adelaide. Amongst them are developments and renovations. Some of us get together every month to discuss strategies and network. If you are interested in meeting Adelaide property investors, please email me atbricksnscience at optusnet.com.au
and I will give you details of the next meeting’
Regards
Xeniawhy not just put an add in the local paper and sell it privately instead of hiring an agent
Hi newstart,
It seems like you have the benefit of being able to wait for the right buyer instead of taking a lower but quicker offer. Why not start advertising now and with time on your side, you may get close to the premium price that you want.does the tennant have a registered lease? If not the new landlord does not have to take on the tennant and you can market the sale to owner occupiers. The investment market in Adelaide has cooled off a bit in the last year so I dont know how much interest a tennanted house would attract.
If you do want to market to the investment market, you can raise the rent as suggested earlier but make sure its done legally, slipping the tennant the difference makes you a CROOK!!!!
you can legally raise the rent by 10% every 6 months in SA. but you can call the tribunal to confirm this.Hang in there, the market is slower at the moment, but properties are still selling!!!
