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delboy
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@delboy
Join Date: 2003
Post Count: 80
November 22, 2003 - 7:00 am
Some interesting advice from everyone! I just wanted to get some of your thougths also. We are kind of in the same position. We bought, done up and are now selling our place. At the end we will have made about $100,000 in the year we owned it. This along with our $80,000 that we originally had gives us quite a bit of money to start our next project. At the moment we are thinking, after much research of buying another do up in QLD for around the $300,000 mark. I have also found areas, although others say there are none left, where I can buy +ve cash flow properties. What is everyones thoughts. Best to use most of the $180,000 for our do up and redraw on that to purchase +ve $ properties? Or use the minimum needed deposit for the do up and split the rest as deposits on other +ve $ properties. Or use the minimum needed deposit for the do up, and buy outright a $80,000 place and redraw on both homes for more +ve cash flow props. Your thoughts would be much appreciated.
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 25, 2003 - 3:37 am
You wouldn’t have all your luvly juvly investments without the agents.
They do choose the job and buyers and sellers do decide to be really difficult to deal with, at no fault of the agent.
[8D]
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 23, 2003 - 6:57 am
You should get back to the agent and let them know that you are looking at other properties, which of course you are, you just don’t have any offers on them. You need to create a bit of urgency for the agent.
As for agents having it too good, think again. If you really think that agents make loads of money and do no work, I dare you to spend a day in the life of an agent.[]
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 23, 2003 - 2:45 am
Most agents will either ask for an offer in writing. It just needs to state. I …….. wish to put forward an offer of $….. for the property at …………..
Date and sign it.
On the other hand, many agents will ask for a checque and signed contract with the offer. Either way is pretty standard.
When you have submitted your offer the agent must put it to the seller and will get back to you.
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 23, 2003 - 2:41 am
We are starting to look around at houses to do up and sell and hopefully make money on them. I note you say not at this point in the property cycle. Why do you say that. From what I can find, Sydney has pretty much hit a peak, it really can’t keep going up the way it is. Up the coast from here and in QLD the prices are only starting to rise rapidly in the past six to twelve months. Anyone and everyone you talk to is moving up the coast or buying investments up the coast. I thought with a cycle like this it would be prime time to buy in these areas??? Any thoughts?
P.S. Only new to all this so any advice on the pitfalls of renovating would be much appreciated.
Do the Renovation Kings have a website?
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 19, 2003 - 4:38 am
Well I think I am only the second real estate agent here. I think we are all too busy showing properties to all the investors out there. I am new to this website since buying Steve’s book. Great book and it has thrown a new light on my plans for property investing. I hope to be in touch with you all on a regular basis here.
delboy
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@delboy
Join Date: 2003
Post Count: 80
September 19, 2003 - 3:55 am
Sounds like good advice. You say the house was valued at $120,000 and your local property market is running hot. Can you tell me what area that is. I like you have just bought Steves book. I have been doing alot of searching on the net to find properties in this price range. Not many.
Cheers[]