[Andrew_AParticipant@andrew_aJoin Date: 2003Post Count: 392]

December 6, 2011 - 7:30 am

MikeyB71 wrote:

that doesn't look very good at all does it

interesting times ahead i think

It looks ordinary!

I'm happy to tell it like it is, which has been very poor for Brisbane in particular over the last 12 months. I'm also comfortable with the idea that even though it's quite possibly a very good time to be buying at the moment the majority of the buying public will wait until the market is booming again (such as the end of 2007!). Just the way of the world!

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December 6, 2011 - 7:26 am

Well if Brisbane can avoid the January we had this year there could be even be some renewed motivation for buyers in our market in 2012. That would make a nice present to place under the Christmas tree!

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December 5, 2011 - 2:40 am

Excellent story Goldies, just taking calculated action has a lot to be said for it with an emphasis on the action part!

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December 4, 2011 - 10:51 pm

Yes a familiar story sadly, obviously move management first of all and then worry about chasing compensation. It sounds like a management agency that has someone inexperienced and not very useful, perhaps with far too many properties to manage as well as they didn't even do the barest minimum in terms of renting the property out, unforgivable!

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December 4, 2011 - 10:41 pm

Excellent edition and always worth a read!

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November 29, 2011 - 10:06 pm

It's good to have a quality property manager looking after the property and if they aren't quality look around for somebody who is, if they are doing their job well it should give you some distance and allow you to be more objective. Having a below market rent can affect such things as sale value, ability to refinance, holding costs. On the other hand quality tenants are worth a discount as they sometimes improve the property as well as maintaining it (which should be the bare minimum for all tenants but sadly isn't). All a balancing act.

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November 29, 2011 - 9:50 pm

Congratulations Purpleairplane and welcome to the forum!

Never to late to start, in 10 years time you will be 10 years older regardless of whether you choose to become wealthy or not, so why not do both? Plenty of stories of people who become wealthy starting from nothing, or below nothing in their 40's or older, I think there would be plenty more except for the fact that most don't even try to change the path they are on.

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November 28, 2011 - 9:58 pm

Just in terms of sticking to goals I can suggest http://habitforge.com/

An online accountability partner.

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November 28, 2011 - 9:31 pm

zimby wrote:

HI Allen

Thanks Heaps for your reply.
I've always wondered, you must get " Can you find me a CF+ property" alot.
I'd also be interested to know the answer to this

Cheers

Denis

Yes I get that question a lot

Finding a +ve cashflow property is no problem, you just need a large enough deposit and you can find them anywhere! Otherwise it's more useful to talk in terms of yield figures. With capital cities and Brisbane you will find that +ve cashflow is generated more than found, buy a run down opportunity at the right place and add enough value and you can do impressive things.

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November 28, 2011 - 2:55 am

zimby wrote:

Howdy

Finally buying our first unit and need some assistance from Property solicitor/Valuator.
The Unit is located in Indooroopilly QLD, any reccomendations?
Is it worth doing a body corp check? I assume this is requested of the solicitor?
Is it worth doing an independant valuation, rp data Automated report had a high and low estimated figure of the property and we're purchasing for 20K under the low figure( rpdata- 455-390 sale price 370)
Thanks, any advice greatly appreciated

Cheers

Denis

Just on the subject of autovals it's impressive how much they can vary, I glance at a few including RPdata, APM, Price Finder, generally something that is more of a commodity such as a unit in a suburb with a lot of similar units should be easier to price and have a lower standard deviation but really these figures shouldn't be used for any serious decisions.

Have a look at how the unit compares based on size, yield based on true current market rent, comparable sales first of all, also take into account condition, number of units in building, cost of B/C yearly; would be a few starting points.

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November 28, 2011 - 2:52 am

As Richard suggests a search of the body corporate records is a good idea, should be around the $165 level. RP data autovals are very good for computer estimates until they aren't when they can be very flaky, so please do your research carefully and don't rely just on that figure.

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November 26, 2011 - 2:49 am

Jamie M wrote:

What about Canberra

Detached house with a backyard that is too big. The lawn seems to grow as I watch it.

Cheers

Jamie

Canberra.. The strongest capital city over the last 12 months at -0.68% (Residex index data til end Oct 11) Not many are talking about CBR though !?

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November 23, 2011 - 12:29 pm

Brisbane, house. Gen X.

Prefer a house, but with someone taking care of the back yard Will be upsizing next move.

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November 23, 2011 - 12:19 pm

Also make sure you enjoy as many sleep ins as possible and late nights (of your own choosing!).. while you can

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November 23, 2011 - 12:15 pm

Hi Tanjimh,

I can send you a one session Price Finder login so that you can have a browse the prices yourself if you are interested, you can sort sales by vacant land as one option. Otherwise it's really a case of just getting on the phone and the net and doing some research. Start by making a list of all the agencies in the area and surrounds, call them all and have a chat to plenty of people and just ask questions about vacant land sales, guaranteed to start to get a good grip on what is happening if you talk to enough people. I could also suggest one local Kallangur agent who knows the area back to front for the last few decades or more.

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November 23, 2011 - 12:05 pm

I know a good one, based at Wynnum which is not really that far to travel a few times a year if you can beat the peak hour traffic

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November 15, 2011 - 8:44 am

The strata report is always a good idea, value for money it's hard to beat in uncovering issues with units.

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November 11, 2011 - 10:34 am

Value for money for the individual investor I think it's very hard to beat a shared subscription to Price Finder, the valuation estimate widget on PF is pretty handy, as always you have to take with a few grains of salt though.

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November 10, 2011 - 6:08 am

Robbie you would normally lock the seller in with a contract of sale, the seller is entitled to look for other offers always and you won't have control until it's under contract. If you are referring to verbal agreements then yes they aren't binding, once there is a legal contract of sale the buyer has a large degree of control with QLD contract law.

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November 10, 2011 - 5:45 am

RobbieP wrote:

Andrew_A wrote:

Robbie in QLD the legal document is a form 22a, the form to engage a buying or selling agent, this is the required legal form that is both supposed to offer the agent protection for their commission and the buyer potential recourse if the agent doesn't fulfill their legal requirements. 

Why would a seller sign a form 22a with a buyers agents when he could sign one with a normal agent, who would be looking after his interests better?

The seller doesn't sign this form with the BA, the buyer does. The seller will sign a form 22a with the selling agent (unless not using a sales agent) and they will market the property.

You are not required to use a buying or selling agent when buying or selling property, just that most choose to use a sales agent when selling and increasingly more buyers are deciding to use BA's when buying, hope that clears things up.