Mate, you can sell for whatever price you want. I know NSW is known as the nanny state but this is ridiculous. There are no laws/requirements to sell at a certain price. Sometimes people sell for allot less than the purchase price. It’s called ‘a loss’.
When I purchased my 1st house back in 2008, I remember the agent telling me the last time it boomed on the GC, properties were going up $50K p/month and he found it difficult to price his listings. I asked him why it boomed and his reply “I don’t know”! There’s no reason why GC should not be booming right now. If you sold your home in Sydney now…[Read more]
I purchased 3 x houses in 2008, 2009 & 2010 on the Gold Coast (Ashmore). Yes great rental return but absolute crapppppppppp growth. 3 most important things in real estate investing;
The Gold Coast is none of these!
My properties have grown less than 10% in 7-9 years.
I’m one of these buyers. I was a buyer of a unit in NSW that was previously sold off-the-plan and then on-sold to me with an amount of cash given to the seller, as you say ‘under the counter’. Just because someone is paying in cash it’s up to the seller to declare this cash and maybe they do. The seller I dealt with was a business man and he…[Read more]
I have just sold a commercial property unexpectedly to my tenant who made an offer that blew me away. The property is owned outright in my SMSF. I’m looking to purchase another property which will give me a better return as I have another 8yrs before I can access my superfund. I started to look at residential blocks of say 6 units+ which…[Read more]
blackhotel replied to the topic Levies have not paid on time, huge interest rate and debt recovery fee charge in the forum Help Needed! 1 year, 9 months ago
Who forgets to pay 2 years of levies – porky’s! Amnesia is not a good defence.
Same thing happened to me when I tried to refi, except my wife & I happened to break-up before I put the application in. She moved in with her mother. And guess what after the refi was completed we magically got back together – go figure!!!! Beat them to there own stupidity.
The funniest post ever. 2.12% return. I just have to laugh Greg – in a polite way.
Your 1st problem is Brisbane,
Your 2nd problem is Property Purchase price of $220K – your dreamin!
Your 3rd Problem is Property investing in Oz is a long term investment if you want to make $$$. Even if you make some profit the ATO will…[Read more]
blackhotel replied to the topic New bank regulations on I O loans and property portfolio investors. in the forum Finance 1 year, 9 months ago
You bring up some very important points to novice investors. I am a long term Property Investor (30yrs) and the advice given on IO loans is daunting at this time, however 20yrs ago it was a standard thing to do and without a thought.
Something that is being pushed by so many lately is this Cash flow positive properties vs capital…[Read more]
Property- divorce = trouble. I have been through a divorce and a break-up (defacto relationships). It is an absolute nightmare when you own multiple properties. I had properties in my own name, Company, trusts including discretionary & Unit trusts and SMSF. It does not matter in the least who’s name they are in and/or who owns what. Literally…[Read more]
Too personal, keep relationship professional. Maybe send a Christmas card. No matter how good a landlord is, it always falls apart at the end if something goes wrong with the bond claim – ALWAYS!
Terry W — Yes, the profits will be distributed to all owners for all the other repairs needed. So does the BC pay the tax, then distribute the funds to owners. Or does the BC distribute the funds to owners then each individual owner pay there own taxes?
Scott —– Yes we are going to seek specialist advice and from what we have been advised so…[Read more]
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