Greetings all
I have atm 2 properties that meet the 11sec rule in Tassie.
1) 35k agent says would rent for 90-100pw 2 bedroom just needs a general tidy up.
2) 50k 3 bedroom home currently under lease with the local hospital for 100pw
Council rates/water rates approx $1150 per year
Both properties are on the west coast of Tassie.
If anyone is interested in obtaining these properties for a small commission please email me at [email protected] or phone 0407 607 890.
Could any one please give advice on how I can make the above transactions and protect my investments? It also concerns me that I may pass properties on to people and have their partner purchase so they don’t have to pay the commission. Or that they get the agents details and ask for all further properties that come up to be sent to them which could end up in a situation where we are competing for the same properties with those that I helped. It has happened to some one I know. It cost me over $5,000 to find these properties and agent and it would be wise to protect this investment? I would like your thoughts on wether you think I am being over cautious?
Regards Bear
PS I have Steve Mc’s permission to post this thread.
West Coast of Tassie? [
]
West Coast of Tassie? []Yes Tasmania
Hi,
Bear has approached me privately re: this this post and I am happy for him to post it.
As for advice, there are non-disclosure agreements you can asked to be signed, but at the end of the day acting in good faith goes a whole lot further.
I guess you could ask the person to pay a bond of sorts, but I think you just need to work closely with a potential buyer to get a win-win outcome.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Steve.
Thanks for your help and support its greatly appreciated![
]Regards Bear
Bear, I am interested. But how come the untidy 35k 2bdr gets the same rent as the 50k 3 bdr?
Bruce
Mooloolaba, QldGiday Bear1964
just wanted to ask a Question
can you Email me [email protected]Thanks Mate
Hi Bruce
As mentioned in the email i sent to u the 50k house is been rented currently at 100pw on a 3 year lease i beleive. The other is not curretnly on a lease but i am told will get b/w 90-100pw
Regards Bear
I have a third property just come accross my desk.
Recently renovated Weatherboard & Fibro home set on 2 blocks (2 titles). $49,000
Possible rent 100-120pw
Regards Bear
Please email at [email protected] or ring me on 0407 607 890
Bear
Why aren’t you buying these deals, you don’t need much money to get into them and maybe a JV is better than giving them away. They might be harder to find by the time you have saved up your spotter fees.
Cheers
Leigh K[]Carve your own path and lead the way …
Hi Leigh, thanks for your reply
Yeah I would prefer a joint venture, but I feel a bit guilty asking some one else to fund a deal. Yeah I know I should step beyond my comfort zone, but the way I see it, I wouldn’t want to fund something and split my profits 50/50 with some one else. However if some one was interested in doing so and approached me about it I would most definitely do it. I just don’t feel comfortable asking for it.
Regards Bear
Hey Bear, firstly let me say i have no problem with what you are doing – if people are silly enough to hand over $$$ for deals they could quite easily find themselves i think they deserve to be pay you a fee !! [
]But others have “advertised” deals, or offered to pay for a “heads up” and have had posts locked, deleted, and/or edited…
Is it just me or does it seem a case of double standards ??
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Hi Fatboy
I have had them deleted also, however I contacted Steve personally and asked for permission. Not double standards, I just took time out to explain to Steve what I wanted to do and he Ok’ed it. I had 2 other posts deleted, and asked why, and after some communications we agreed on what I could put in and what I couldn’t.
I guess it comes down to communication is the key.
I hope this explains it for you fatboy.
Regards Bear
I have seen lots of posts asking “where can I find + cashflow properties?” To me this is an ideal opportunity for new investors to get started or get their feet wet, with a low output but good returns. I think there should be more of this. Great stuff Bear
Regards RayssBear, pardon me for taking the wind out of your sail, but I think you are going to have to get a little more creative on the +CF lead thingo.
It actually took me less than 5 mins on a dial up modem connection the other night to find the properties you refer to. A quick call to the agent found the properties weren’t +CF. i.e.
– the 50k one isn’t +CF when you include closing costs.
– the 35k one hasn’t been tenanted for quite a long time, which means not only no +CF, but no CF at all.
Further, the cost of maintenance to homes in this town is exorbitant, the property manager lives 2 hours away, there are around 10 other untenanted houses in this very small town for the same price up for sale.
The economy of the town is dubious indeed and requires very very careful due diligence, which I partially carried out.
If anyone is to make money buying a home here now, it will be more likely due to being the first in ahead of a crowd of people looking for cheap rural houses. However, the ceiling will always be what rent the local market will bear, and for many of these homes, the current prices are too high already for renters.
Bruce
Mooloolaba, QldHi Bruce and thanks for your response
I’m not going to get into it on here, but feel free to email me or ring me on either 0407 607 890. or [email protected] But im sure you already know how to contact me as I am sure you have already sent me several emails to which i have replied and answered your questions a few days ago.
Your facts are not correct for the properties i am talking about!!!!!!!!!!!
Having said that I would suggest that any one wanting to purchase any property at all should do their own due diligence no matter how the property is obtained. What is +ve for one person can be negative for another. As far as the property manager goes, i have stated on the forum and to every one that has contacted me that to the best of my knowledge there is NO property manager in this town.
Regards Bear
Thanks Rayss [
]You mean Maurice Hodgson told me a lie about these properties?
8 BURY STREET
3 SELBY STREET
Bruce
Mooloolaba, QldHi Bruce
I take it you want to take this public after the invitation to contact me personally. I refuse to get into a public debate in this matter on this forum, as I don’t believe it to be the appropriate place to do so.
I take it you are the same Bruce that has emailed me a 1001 questions?
If so then why state that with your creativity with the information provided on the forum you tacked down the properties in 5 minutes on a dial up modem, when obviously you did so with the answers I provided in the emails? It would also seem that in the emails you sent to me you have a bee in the bonnet about me obtaining permission to post this thread. If you are not the same Bruce I retract this statement.
Some people in this world are doers and others are knockers. I personally like to think of myself as a doer and take pride in helping others. I also know in doing so there will always be those that will try to knock others down and attempt to become a brick in a wall for the paths of another’s achievements. If these people put their creative energy into more positive areas they themselves would be much happier and this world would be a much better place. This is NOT a personal attack this is just my observation of the world in general.
Once again I offer you to contact me personally if you do have any serious concerns about my intentions of posting this thread or any other concerns you may have.
I am wiling to make my self available to anyone that has any concerns about this thread if contacted personally.
Kindest Regards Bear
good on you bear.
I agree that it’s easy for people to find the properties themselves for sale once you’ve disclosed details about where. I also think there are many different ways to structure the deal you do if you act as a property finder. This might vary from person to person as not everybody has the same needs etc.
I think a lot of the times it’s not just ‘find me a deal’ but ‘explain to me why this is a good deal compared to others for sale’ and ‘help me do all the steps in the right order so i don’t buy a lemon’. people are trying to leverage off an investor’s (hopefully) knowledge of the market, contacts, and skills in analysis, research, organisation, communication, networking, and negotiation.
I agree that the deals are out there for everyone to find. But some have spent months looking and not finding, for a good many possible reasons. i think it’s totally valid, what you’re doing. i think if the Bruces of ths world (i.e. your potential client) have a problem and think they can do it themselves and don’t see value in what you are doing, then they shouldn’t do business with you.
i mean nobody wants to help or work for someone or have someone as a client who’s not happy with what they are doing – that’s just lose/lose!
Do your due diligence on your potential clients just like clients would do their due diligence on their property finder and purchases. Eliminate the tyre kickers and go for the people you click with and think are on the same wavelength, people with whom communication is easy and joyous.
win/win. fun, helping people, and financial benefit for both parties!
cheers-
minicheers-
mini
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