[AceyduceyParticipant@aceyduceyJoin Date: 2003Post Count: 651]

July 21, 2004 - 12:06 pm

Resources & businesses…preferably a combo of the two where possible….

Though I’m also looking at quite a creaitve property deal atm.

Cheers,

Aceyducey

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July 21, 2004 - 5:52 am

SupaFreak,

And how did you get rid of the harem of women? [biggrin]

I was chased by my partner….she ended up chasing me to London & I worked up the courage to propose……8 years on we’re still to get round to the wedding

Cheers,

Aceyducey

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July 21, 2004 - 5:48 am

Derek,

Yup this is usually the case.

But the reason for going around the agent isn’t to entice the Vendor to break their contract with the Agent out of greed, but to let them know how bad their agent is!

Of course, at the end of the day this gets down to price….if the agent does achieve an excellent result it’s unlikely the vendor will pay much attention to one or two complaining people who weren’t prepared to make a higher offer anyway

As the old saying goes – ‘he may be a bastard, but he’s MY bastard’.

Cheers,

Aceyducey

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July 21, 2004 - 3:15 am

Firstly,

Agents work for the vendor. They do NOT work for the buyer.

So expecting them to act as a neutral intermediary is not always realistic.

Secondly, there are good and bad real estate agents.

This agent is simply employing a tactic to try and get you to increase your offer…and frankly it’s not a very positive one.

The aim is to embarrass you into making a higher offer.

I’d suggest that you do try to speak directly to the vendor & let them know how poorly their agent is behaving & make the same offer.

You could also report the agent to the Real Estate Institute in your state…though they’d be unlikely to take any form of action in this instance.

Secondary to these, you should simply look for property that isn’t with that agent & simply not deal with that agency any further.

Plus tell all your friends and acquaintances about them so they don’t deal with him either. Business failure through bad service.

Cheers,

Aceyducey

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July 20, 2004 - 2:49 pm

A general comment on the topic.

Soemthing we always keep in mind is that if the property looks good tenants are more likely to keep it in good maintenance.

Rent out a slum & you get slum tenants.

Back to painting one of our units tomorrow

Cheers,

Aceyducey

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July 20, 2004 - 11:24 am

The USa is a great democracy?

I suppose it is if you’re a Judge & so get to decide who will be President

Europe has a long history of totalitarianism as well as democracy…..Hitler was voted into power through democratic means.

Cheers,

Aceyducey

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July 20, 2004 - 11:18 am

It’s not hard to become a millionnaire in 101 days.

Here’s two very workable strategy:

How to become a millionnaire in 101 days:

Strategy One
Step 1) Start with two million dollars
Step 2) Pay me one million dollars
Step 3) Wait 100 more days

Strategy Two
Step 1) Advertise how you can turn people into millionnaires in 101 days
Step 2) Only select applicants who have at least two million dollars
Step 3) Convince them to pay you one million dollars apiece
Step 4) Tell them to wait another 100 days.

Cheers,

Aceyducey

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July 19, 2004 - 10:43 pm

As long as it’s purely for your holidaying & not considered an investment, timeshares can be good value!

I pity the people who originally buy in as an ‘investment’ however.

I had one friend who was trying to become a mini-travel agency to get her family & friends to go stay at her timeshare so she’d get the money back.

Cheers,

Aceyducey

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July 19, 2004 - 10:41 pm

Originally posted by wayneL:

>>but, in my opinion, once you decide to stand on the sideline, you give up all right to criticise<<

Hah!!! I would like to see anyone try to take this right from me, whether I choose to vote or not!![rambo2]

Wayne,

Enough people think as you do, it allows the radical groups to get into power…..then they go about limiting freedom of expression, etc – and sooner or later you’ll find that your right to criticise becomes a gaolable offence.

I find that prevention is better than cure….

Cheers,

Aceyducey

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July 19, 2004 - 1:26 pm

Melissah,

We do that via a Trust.

I’d not recommend that you use a company for purchasing property however. It doesn’t offer the same security & tax advantages.

Cheers,

Aceyducey

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July 18, 2004 - 1:31 pm

Melissah,

Bingo that both paths work. In fact some investors NEVER buy a PPOR for themselves, it makes more sense for them to rent & buy more IPs.

As to which approach is best RIGHT NOW, my view is that if you have a low yield in the areas you can afford to buy your PPOR in you’re probably better off renting, having the landlord cover the expensive mortgage & buying an IP in an area where your yield is better.

However if you live in an area where you can buy into the market relatively cheaply, then go for a cheap PPOR, pay it down fast & use your equity to leverage into IPs.

Cheers,

Aceyducey

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July 18, 2004 - 1:24 pm

John and Lois,

For extra info on Mt Isa I suggest you also visit the current Somersoft thread on the topic.

How’s Mt Isa rental market?: http://www.somersoft.com/forums/showthread.php?t=16445

Cheers,

Aceyducey

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July 18, 2004 - 2:03 am

Originally posted by elika7264:

Thanks Aceyducey.[biggrin]

Wished I had your expertise[blush2]

Regards,
Helen

Helen,

It just takes time in the market & research. We all start at the same point, it’s just an accident of time as to who becomes more experienced earlier.

There are plenty of more experienced people on this forum & others and plenty of other great resources available for investors.

The trick is working out which are the good ones for you [biggrin]

Cheers,

Aceyducey

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July 17, 2004 - 4:39 pm

Helen,

Nothing sophisticated.

Finance is easily available. If prices fall as ‘John Howard’ is saying (and mark you I don’t expect that type of across the board fall in prices) then that will encourage a great number of people to exit the market taking their profits of the last 3-4 years.

This creates buying opportunities for those of us who are positioned correctly financially.

If you’re investing for the long term, buying & holding properties that are at minimum cash flow neutral, have good prospects for income & capital growth & effectively cost you nothing to hold for 10+ years, well it’s a no-brainer. Buy as many as you can find

Right now generally I recommend considering assets other than residential property in Australia for better returns in a 3-5 year outlook – however it still really depends on where you buy, the potential for improvements or usage modifications and your specific goals.

The Australian property market certainly isn’t uniformly negative – we looked at one cash flow slightly positive property in a good location within 10km of the CBD of a major metro with some reno potential today….they are still out there if you get down on the ground & look around

Cheers,

Aceyducey

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July 17, 2004 - 4:28 pm

Whoever you vote for, you end up with a politician.

Deceit is easy to say but hard to prove. There are all kinds of reasons & excuses used by leaders. Determining which are valid & which aren’t requires a huge expense…

ie: I had bad advice, the situation changed, the last guys in office passed some convoluted legislation that stops us from doing it, no-one could have predicted the outcomes & fallout, etc, etc, etc

I think the important thing is that we elect the least harmful government rather than the most truthful.

Cheers,

Aceyducey

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July 17, 2004 - 1:39 pm

It’s the improbably high returns…..and was the company appropriately licensed?

Of course the definition of ‘improbably’ may be problematic.

Cheers,

Aceyducey

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July 17, 2004 - 1:34 pm

Originally posted by john howard:wait for the 20% correction to happen, you wont be making to much money then

Actually it will make no difference to my cash position at all.

But it will provide me, and other experienced investors, with a number of purchasing opportunities.

So please talk down the market.

Cheers,

Aceyducey

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July 17, 2004 - 1:31 pm

Shirl,

I’m in the cautious crowd, considering your situation & the current market.

Unless your business is a huge cash cow with a great deal of stability I’d recommend you be cautious about entering the property market.

You don’t want to overextend.

Cheers,

Aceyducey

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July 17, 2004 - 2:49 am

Originally posted by john howard:

Its in my opion that one interest rate rise will see the market go into melt down.

Ahhh – another Doom Sayer.

I love you guys – you make me so much money! [biggrin]

Cheers,

Aceyducey

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July 16, 2004 - 1:55 pm

Alf,

They’re educated guesses

Bad time to be investing in property – well if you’ve had your head in the sand for the last five years through one of the largest booms in property in Australia it probably is. But then isn’t it ALWAYS a bad time to invest for these people?

But if you’re in the market, there’s little reason to totally exit.

It’s a good time to reorganise the portfolio, get rid of any poor performancers to reduce LVRs & begin financial positioning and looking for bargains.

A bad time to START property investing – well maybe. But it’s an inefficient market & there are plenty of niche opportunities

It all depends on your ability to identify them.

Every time is a good time if you can work out what it’s good for.

Cheers,

Aceyducey