As the topic of the thread says, it’s a question of ethics. It’s not about the other party, it’s about you. My word is my word, regardless of who it is and what the paperwork says. If the paperwork is wrong and I know but do nothing, I have gone against my word.

Those that do otherwise and end up with a windfall are hardly investors but greedy…[Read more]

Which area?  I have done very well in Rochester NY.

I think that the term ethical and 'agreement' are what matters.  If you knowingly stick to the contract price but agreed otherwise, it is an ethical decision that only you can make.  Different people have different ethics, where do yours sit?  My view, agreement is agreement regardless and the paperwork is merely a means to record the agr…[Read more]

Macocam,Finding good property managers is the first challenge and depending where where you buy, finding good tenants may also.I have been blessed with two excellent property managers and problems have been minimal, however remote investing from the other side of the world can also be a challenge.The results are there if you do your homework and…[Read more]

Great to hear from you guys. I hope all goes well.Peter

AmsjermI have a small studio in Traralgon Victoria that I use for when I'm staying there for work.  Whilst staying, I am doing some work to it, ie carpet (done), vinyl (done), tiles (kitchen and bathroom), replacing timber panelling with plaster and painting and perhaps some cosmetic work on the kitchen (doors and benches).I really only bought it…[Read more]

Hi AndyI may be of some assistance if you are looking at the Latrobe Valley.  I am the Officer in Charge of one of the Fire Stations and know the area quite intimately, not only from an investing perspective but also through extensive networks with key players due to my role within the community.  I can give you a lot of valuable information on th…[Read more]

Hi Jase and FlicI really enjoyed reading your post.  Congratulations on your work.  I would love to come up and have alook at your progress in person one day if that's OK. I live about 10 mins away.Peter

Hi Niki

In 10 years time, how often will you be using the crash pad? Even just keeping it once it has been paid for may be expensive. Expenses such as insurance, body corporate fees, rates etc may make the strategy unfeasible. It may be cheaper to just stop over in a motel.

Another option may be to purchase one or two IPs in a different area…[Read more]

to inconveniencing us

Sorry, should read “to avoid inconveniencing us” but probably should read “to avoid an inconvenience to us”. My grammar is not the bestest.

All the best…aussie

(formerly giraffe…New Year, New Nick, New Opportunities)

“Real Estate – The Foundations of Wealth”

What an unusual post….well done and good for a bit of fun.

Many would be frightened off by the purpose of the signature on the paper but hey, we sign things every day so the opportunity to forge a signature exists anyway.

Electronic signatures (PINs etc) are more of a concern for fraud these days.

It appears from some of the posts above that…[Read more]

My two bobs for what it is worth….

I was left in a bit of a pickle with my (now ex) Australian broker. I needed finance and very quickly. I was referred to Wizard Homeloans in Hamilton NZ. I appraised him of my situation and with some urgency and creative accounting he had approval for $650K in just four working days. They will also go as…[Read more]

I think that getting too creative with ‘subject to’ clauses can run the risk of the agent and vendor not taking you or your offer seriously and making you look as though you have no real commitment to buying. If you are building a relationship with an agent, this can be a relationship killer and good agents are hard to find. I believe that there…[Read more]

Hi Matt

Like Millionaire, I also choose to rent for the same reasons. I am actually paying about $50 pw under market rent for this place.

It gives me flexibility, less debt servicing and DSR impact and with my current place (have been here for 8 years) I am paying a song as the landlord has only given me a total of $15 pw rent rise for the…[Read more]

It would be interesting to know if the RESULTS forum has much of an impact on the general forum. I know when I click to look at the recent topics many have been blocked.

All the best…aussie

(formerly giraffe…New Year, New Nick, New Opportunities)

“Real Estate – The Foundations of Wealth”

Hi Matt

I’m sure that when you start at LJ Hooker, you will be in contact and building relationships with many investors and developers alike.

If you build and nurture those relationships you should learn a lot from those people and most importantly build some good rapport.

In good time, when you are doing deals together and they see that you…[Read more]

The Christmas/New Year period should be a wake-up call for us all.

We live in one of the most fire-prone areas of the world and should not become complacent.

Major fires in four states, several houses and numerous outbuildings lost and major stock losses in NSW and Victoria. Even in WA, where the weather patterns have been reported as unusual…[Read more]

Hi Clarebear

Rather than post a long post on Traralgon, please PM me with your telephone number or I can give you mine. Please PM me in any case if you’re interested in discussing investing in Traralgon.

I used to live in Traralgon and recently served stints there as a Fire Brigade Officer and more recently as the Officer-in-Charge of the Fire…[Read more]

Hi Fiona

Did you have a ‘subject to satisfactory builder’s report’ clause?

Have you raised the issues with the agent?

I would pay the dollars and have a solicitor review your situation and advise you. It may save you a lot of money in the long run.

Good luck.

All the best…Giraffe

“Real Estate – The Foundations of Wealth”

Hi Justinsmum

I guess that the most concerning part of your post is the word ‘desperate’. There’s no reason to be desperate and I figure that this is merely a figure of speech. It pays to be patient and find the right deal so that you don’t act too hastily and make some decisions that you may regret further down the track.

The fact that there…[Read more]