Hi Harv,
So, had they provided numbers on “expected rents” or “Expected holiday letting returns”? Costs for body Corp? Costs for Holiday Let mgmt? etc?

A quick look at apartments in Broadbeach (out of interest, after reading your post) saw a range of rents from $400 to well over $600 a week. Prices of apartments had a huge range of values…[Read more]

Hi Harv,
So, had they provided numbers on “expected rents” or “Expected holiday letting returns”? Costs for body Corp? Csts for Holiday Let mgmt? etc?

A quick look at apartments in Broadbeach (out of interest, after reading your post) saw a range of prices from $400 to well over $600 a week. Prices of apartments had a huge range of values…[Read more]

Hi Peta,

…. if I do it at my expense and to a professional standard I am welcome to do it myself, but the screens have to stay there when I leave.

If these were to be a fixture, then I believe the above may be correct. i.e. if you have to drill holes and use screws to affix them, then they become a “fixture”. Also, the landlord would not…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Hi Sammy,
I hope the thoughts…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Hi Sammy,
I hope the thoughts…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Benny

Hi Harv,
Have you looked at the differences in incomes between long-term lease and holiday letting? If the latter, is there a property manager who will look after the renting of these, or is that up to you?

Have you looked at the likely percentage of “filled weeks” versus “unfilled weeks” if holiday letting? Though it is nice to perhaps…[Read more]

Hi Mim,
Since you mentioned this:-

I have not even seen this builder work as he was recommended by my bank manager..

… is it worth a trip, or phone call, to the Bank Manager. They could be friends, or the BM could have used this group previously for his own purposes. If the former, maybe you can glean a little more (and maybe the BM can…[Read more]

Hi all,
Some might think my “big picture” has been formed backwards – this post should perhaps be #1. Ah well, like Topsy, this thread has been “just growing” as thoughts pop up and get added. I hope it is of value to YOU !!

Tonight, Corey posted a thread on a VERY important subject for all investors – but especially for NEW ones. And it…[Read more]

Hi Corey,
Awesome subject !! As I read your thoughts, an old favourite saying came to mind :-

“If you don’t know where you are going, any road will get you there!”

Puts a smile on the face thinking about something so silly e.g. how often do we back the car out of the garage to go “somewhere, but I don’t really know where…”? Not too…[Read more]

I do know who the vendor is as I was able to track down their company details down,

Cool – then approach him and let him know of your offer. If he asks why you haven’t put it to contract, mention the RE agent’s reluctance, and that you wanted HIM to know of your offer at least. After that, it is up to him, but at least you have tried.

We…[Read more]

I do know who the vendor is as I was able to track down their company details down,

Cool – then approach him and let him know of your offer. If he asks why you haven’t put it to contract, mention the RE agent’s reluctance, and that you wanted HIM to know of your offer at least. After that, it is up to him, but at least you have tried.

We…[Read more]

I do know who the vendor is as I was able to track down their company details down,

Cool – then approach him and let him know of your offer. If he asks why you haven’t put it to contract, mention the RE agent’s reluctance, and that you wanted HIM to know of your offer at least. After that, it is up to him, but at least you have tried.

We…[Read more]

Hi KA010,

I have had this experience before where they try and delay, but the fact he told me to walk away is really odd…

I am sure the REIQ would be interested to hear about this – though what they can actually do about it is beyond me. Certainly this agent is a disgrace, and should be called out. I agree, something does sound sinister.…[Read more]

Hi KA010,

I have had this experience before where they try and delay, but the fact he told me to walk away is really odd…

I am sure the REIQ would be interested to hear about this – though what they can actually do about it is beyond me. Certainly this agent is a disgrace, and should be called out. Like you, something does sound sinister.…[Read more]

Hi SiteManager,
The way you are talking it up, I am wondering if you HAVE bought there already? :p

So there finally is to be a big mall development? Cool – that may help with values down the track. As of right now (and for the last 15 years) all I have seen is agents pushing the area trying to get things happening. For sure, one day it…[Read more]

Hi Corey,

Hmm, I kinda like that – I think I would qualify the statement in a different way though…..

“Just Do It – after taking counsel”

Thanks for your thoughts,
Benny

Hi Mccormack,
Just be aware – in Qld I think the cooling-off period is just FIVE days, not 14. Anyway, DON’T sit on your hands if you want to be out of this deal. Have your solicitor drive it – tell him you want it stopped, and have him tell you HOW !!

Benny

Hi Simang,
Check out Terry’s webpage (link in his signature). Seems to me like he is ALL of the things you are looking for right now, including Lawyer, Financial Planning and Mortgage Broking too.

Why not give him a call?

Benny

Hi Cartman,

Considering worst case.. should the banks decide to recover the house for the mortgages (default), I’d rather they take the IP, then the PPOR any-day / any-time.

All the more reason to NOT cross-coll. A Bank with several properties crossed will likely go for the one most likely to provide them their money back – and, in most c…[Read more]