Hi,
I just wanted to share with you all that my husband and I nearly bought our second IP today. We’ve been looking, reading everything, getting our finances in order, and felt like it was never going to happen.[blink] Today we went to an auction and even put a bid in, so we feel like the paralysis is over and we’re really going to do it. We didn’t buy the property today, but that’s okay because we’ve realised it’s a business deal and another one will come along.
I hope this helps someone else who’s maybe going through the same stages as we were.[confused2]
I’d also like to thank Simon (Morgage Hunter) who put us onto his friend, Rolf, in Melbourne who’s been a fantastic help.[thumbsup2]
Landt.Hi Landt,
Well done – great to see the ‘fire in the belly’ again. As you said – another one will come along.
Out of interest how did your price compare to the auctioned price? Were you in the ball park? Was the property passed in or sold to the highest bidder?
Keep your eyes on this property there may be a disillusioned seller in the offing if the deal falls over.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Hi Derek,
I actually didn’t really think we’d get it. It was a State Trustees auction, so that’s why we thought the reserve would at least be reasonable.We set our price and stuck to it, but it’s in an extremely good area and I thought it may go for more, as it did. However it did still go for a reasonable price, just beyond our reach. Another one will come along.
Landt.Dear Landt,
I am new to investment and have the following questions:-
What is State Trustee Auction?
Where to obtain information on these Auction?Thank you!
FrancisHi Francis,
a State Trustees auction is just the same as a normal auction, but it is under instruction from the State Trustees, as it is a deseased estate. The reserve is set by the State Trustees and in my opinion is usually set at a reasonable limit.
LandtHello, Landt.
Thank you!
Are they always deceased estate? Where can I find these auctions?
Regards,
FrancisHi everyone,
I just wanted to share with everyone that we’ve finally bought our second IP. We had actually decided to give up, because it was just all getting so hard, and thank goodness we didn’t. An agent rang to say that he had another property for us to look at, but we said the price was too much, and then he said well the one you looked at a few weeks ago has reduced in price.We put in an offer, and a day later we’ve bought it, (subject to building, pest, and finance of course).
It’s so exciting!
Landt.
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