My first property purchase was two free standing units(?) (bungalows?), strata titled but sold as one. One of the units is about the same size as the one you are offering for. Yield for this unit when bought was about 13%. On paper capital gain has also been great. I’m not sure if will sell for what I’ve been told it will (and have no…[Read more]
Although I was initially extremely anxious about my one and only tenant from hell and the money they owed me I ended up thoroughly enjoying my process through the tribunal system. Learnt heaps and got some great advise from the registrar.
I agree you have to be very vigilant about following procedures and meeting time frames. Find out exactly…[Read more]
I have recently got the floors sanded (still relatively low cost even though I didn’t do it myself) in one of my “shed-out-the-back” type houses. It was tenantless for two months before the sanding and with nasty carpet and rented out within three days after the sanding. I agree it makes a large and positive difference
The agent you’re with must be investigating prospective tenants which is what you want i.e. no tenant rather than bad tenant. I’m with lifeX and Oxygen Funding. It also doesn’t hurt to try other agents although you want to make sure that they are also selective about tenants they’ll let to.
Things don’t always work out as planned. Apparently if you have a good reason for not moving in (eg new job, family issues, moved somewhere else) and you write and let them know they don’t reclaim the grant. At least this was the case two and a half years ago. Ring and ask them and they’ll let you know.
Broken Hill is barely a mining town these days but tourism is becoming more significant believe it or not. I agree with Dematiio re not buying there unless a PM is willing to manage what you buy. PM fees are high and PMs really do not want to have to work to get their money. It is not a place you would buy for capital gain. If you bought and…[Read more]
I’d stick with the legal process. Your tenant is still in breach of his agreement if he is three weeks in arrears (in NSW, Vic and Qld). You may not get all your money but will lose less in the long run the sooner he is out. If you keep him on, the worry and uncertainty will be ongoing in addition to greater potential financial…[Read more]
Nowhere in particular, everywhere. Housesitter – so all over the place. Have just moved from Inverloch (coastal Gippsland, Vic) to Carlisle River (Otways, Vic) on the road to nowhere. Am loving this.
The one story I have re investing in the Phillipines is at least 10 years old. A friend bought commercial property and created a business in partnership with a local (which was the only way it could be done then). My friend provided all the finance. The business ran quite successfully for a number of years. My friend and his business partner…[Read more]
If you really want to buy the property I would go for the option suggested by 1Winner. You could also thank the vendors for a lesson learnt for future due diligence.
If you no longer want to purchase the property is this reason enough not to settle?
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