Forum Replies Created
problem + solution = profit
money follows management
buy property that pays for itself from day one.There you go – its easy to start your journey.
I am still going. But I dont like the present climate for investing in property. I am consolidating.
Redwing
I owe you a beer. I just found $1200. I thought I had rolled all my previous super into my current fund.
We can share a beer when I retire at 55 in another 15 years. By then it should be worth a couple of beers.
It will be interesting to see how much it all adds upto (your $4000 + yacks $1200 + sis $90)
Cheers
I reckon its a bloody lot of work for what you get.
My cousin in the UK has 4 houses in Lincoln. He is a university professor and rents these rooms to uni students.
It became quite painful and not worth the effort for the return. Now he rents the rooms to polish (Poland) migrant workers. He gets paid a bit more and they are less hassle.
Go BUY Steves latest book.
One of the Mappers bought a house with about 20 bedrooms.
“Are you miffed because I showed you up re the caveat??? If so, I will gladly remove that post; it was not my intention to try and upset you.”
No I am not miffed nor upset. Its my opinion. I dont know if its possible. I dont even know if your correct. But thats what i would discuss with my solicitor. People make mistakes. Most people do their best to rectify them.
At the end of the day, the contract was honoured. Mistakes are often made and its morally right to correct them.
I would not like to do business with you monopoly. I am not sure why you were so anti fixing the mistake.
Surely the other solicitor would insist the purchaser pay the outstanding amount.
I would log a caveat on the property if possible till the dispute is resolved.
You said – “””Upshot: while I think it’s desirable to go visit the place first, its also expensive, time consuming and tedious”””
But when your spending over $100k on a property – spending $1k is better than buying a bad performing property. You cannot buy the time back. I am an investor not a gambler. Reducing the risk is an expense that I am more than prepared to pay.
But thats why I only invest locally. I know my area. Its a good performer and my risk is very limited.
Any others wish to share what they plan for 2005?
Forget all that stuff.
As long as Johnny Howard encourages a net migration into Australia property prices will continue in an upward trend.
For the average person you cant beat living in Australia.
As long as demand exceeds suppply we should be ok.
I just dont believe in investing outside my area unless I intend to spend time there. Absent investors are not treated the same as local investors.
I want to be nearby to resolve any issues I have with my properties. I would not want to be on the other end of a phone whingeing to the property manager when YOU should be on site fixing the problems. Could be a coat of paint. Garden may need cutting back. Could be overpriced. Bathroom could be dirty after a few weeks of no use. Newspapers and advertising material has clogged the letter box.
If a place looks stale it can also look stale to prospective renters. The place may also require an air out. I doubt a property manager would run down there and open the windows for a while.
In my view – Sell and look for properties in your area.
Originally posted by Dazzling:The wife is definitely the people person in our relationship and I am the number cruncher – perhaps we should buy a high yielding hotel and let her at it !!!
I have thought about the same thing. Maybe a Bed and breakfast after the kids grow up and before we really want to retire. Let the people person do the work and I can go play me golf.
How was it priced per week?
I would not compromise quality properties for crappy ve+ properties that gives you a few hundred a month.
Cut your losses and move on. If you cannot afford the $4k – then I would look at selling.
You need a larger deposit, an income and more capital behind you.
In my view student accomodation is a hands on activity. You cannot do it from a different country.
Sell. Sell. Sell
Sell, Sell, Sell, Sell, Sell, Sell, Sell.
Sell. Sell, Sell, Sell, Sell, Sell, Sell
The joys of buying outside your city and state.
When your not there everyone takes advantage. Nothing beats face to face communication. Its a lot harder to BS a person sitting in your office wondering whats going on.
PM’s are also more likely to push tenants to properties owned by locals.
Hi Westan
Welcome back. I have no intention of buying in New Zealand. You know me – i only buy near my home.
As the yields are no longer good and there has already been alot of capital gain, now may be the time to move back to Aussie.
