[BarniBoyParticipant@barniboyJoin Date: 2005Post Count: 3]

December 13, 2005 - 11:34 pm

Well, your definitely not alone in this situation… my partner and I brought our first house 2 years ago and have since split up. The place is in Sydney and as you can guess prices haven’t risen since we got it, but I like to think in our area they haven’t dropped too much either. The property we brought as a home, not an investment, so it is very nice and the rent I currently get for it is not even close to paying the mortgage.

I debated selling and taking a loss, but worked out it would hit me for round $20k but if I held it would cost round $9k p/yr… Based on this I could hold it for 2 years without reaching the ‘sell now’ loss. I’m confident that within 2 years the value of the place will have increased by at least $20k so figured I was going to come out at least even and if prices increase then I’ll be ahead.

Just remember if you want to be rich overnight property at the moment probably isn’t the easiest way or least risky way to do it… then again if I’m wrong I would love to know and get rich quick

[BarniBoyParticipant@barniboyJoin Date: 2005Post Count: 3]

November 24, 2005 - 7:46 am

Hi All,

Thanks for the comments, I think I will look into canning the agent as I have spoken with them about the service they offer without success, then I was passed on to another person after the first left the company and it still hasn’t improved things at all… I think it might be a company culture issue rather than just a slack single agent.

I’ll have a look at the agent contract we have in place, I thought it went along with the lease contract being in 6 month lots, but if it has separate timeframes etc it will be interesting. I suppose I’ll also have to have a contract in place with the tenants if I go it on my own… might be able to use the general agent format unless anyone has a better idea.

Cheers again

Barni