Total Members: 158,284

emptypockets

  • emptypockets replied to the topic Defence Housing in the forum Help Needed! 15 years, 4 months ago

    A 3 bed DHA townhouse recently sold near me.  It had been on the market for over 12 months. Yield was around 6%. Long leases may give you security but it serverely limits your potential buyer pool should you need to sell. You don't have to go through DHA and pay "fair" market value. Plenty of distressed vendors willing to negotiate.

  • emptypockets replied to the topic P+I or IO loan on property used as home in the forum General Property 16 years ago

    It's hard to get your head around paying IO on your PPOR. It goes against the australian dream of  needing to "own" your home. As terry suggests there is nothing stopping you from paying more if you desired. In the early stages the the slightly lower repayments of IO will help with your cash flow.

  • emptypockets replied to the topic No more bottled water and take away coffee? in the forum Opinionated! 16 years, 8 months ago

    okkamooie wrote:
    I have a stable job in an industry not affected by ecconomic climate.  If this was not the case then I would be concerned and a bit more cautious.

    This is what concerns me at the moment. I don't know anyone who thinks things could get worse for them.

  • emptypockets replied to the topic Cooling off period in the forum Help Needed! 16 years, 10 months ago

    There are a number of reasons a vendor may request you to waive cooling off rights* There is something wrong with the property that they are aware of. * They may want to move on another property and need your commitment before they can commit elsewhere.* They have been stung by someone else who has pulled out and don't want to go through it again.

  • emptypockets replied to the topic Sydney anyone! in the forum Help Needed! 16 years, 11 months ago

    you may want to have a look at the somersoft.com forums as well.

  • emptypockets replied to the topic Size of sinking fund … in the forum Help Needed! 16 years, 11 months ago

    So basically its $2500K per unit. That sounds okay unless there are pending repairs or maintenance that is being ignored.  I have a unit in a complex of 30 that has about 90K sinking. Check the strata report and previous strata meeting minutes for outstanding issues.

  • emptypockets replied to the topic Where Do I start? Am I too young in the forum Help Needed! 16 years, 11 months ago

    It doesn't matter how old you are. If you don't start TODAY where will you be in 10 years time from now?

  • emptypockets replied to the topic How to Sell … Home in sydney in the forum Help Needed! 16 years, 11 months ago

    I don't think a private sale is the way to go. Find a good agent who is a skilled negotiator. Many buyers don't want to deal with the owner of a property.

  • emptypockets replied to the topic home theatre setup in a IP in the forum Value Adding 17 years ago

    The less "machines" in an IP the better. Less can go wrong & less cost. I can just see a tennant burning up the hours on the globe by leaving it on all the time (which you will have to replace). Can you make the theatree room into another bedroom, study or games room instead? Sell the projector on ebay. Do a little painting and patching. You can…[Read more]

  • emptypockets replied to the topic Interest Rates – 2 Fix or not to Fix..?? in the forum Help Needed! 17 years ago

    Why not do a mix of fixed and variable?

  • emptypockets replied to the topic Building and pest report..some questions. in the forum Help Needed! 17 years ago

    On one property we had a barrier treatment done and cost around $1500. Also had some baits put around the garden. I think you can just do baits which would be cheaper. Just remember to get an inspection every two years.Telling the council could also result in them telling the existing owners to pull it out! I would suggest you talk to the building…[Read more]

  • emptypockets replied to the topic Mortgage Insurance in the forum Help Needed! 17 years ago

    I think Westpac may do 85% without LMI.

  • emptypockets replied to the topic charge tenants for water in the forum Help Needed! 17 years, 1 month ago

    when I worked as a property officer we charged all tennants for water usage. We were the only REA in the area that did this. The other offices thought it was too much paper work.

  • emptypockets replied to the topic Investing in Units and townhomes in the forum No Subject 17 years, 1 month ago

    I also think it would depend on how many units/townhouses are in the complex. You might not want a unit where there are 200 others in the building. May reduce CG potential.

  • emptypockets replied to the topic What is cross collaralised ?? in the forum Help Needed! 17 years, 1 month ago

    I wouldn’t be too concerned if you just have the one IP crossed. At the time it was probably the easiest thing to do. Just don’t do it again!

  • emptypockets replied to the topic $300k + (How much is “+” usually) in the forum No Subject 17 years, 1 month ago

    Just ring them and ask, “how much would the owners take”. It will give you an idea of the asking price then.

    Doesn’t mean they won’t take less though. I bought a place that was advertised offers over $520K, but paid much less.

  • emptypockets replied to the topic To sell with or without a tenant? in the forum No Subject 17 years, 1 month ago

    Is there currently a tennant in place? If yes, keep them in there but do not renew the leaase. You can always settle based on vacant possesion.

    If no, keep vacant for a couple of weeks while property is being advertised. Just make sure the RE agent includes expected rental in advertising.

  • emptypockets replied to the topic +CF properties in the forum General Property 17 years, 1 month ago

    Postive cashflow is out there, here is one crapper. Or getting close to cash flow postive anyway. But not my cup of tea. CFP have been harder to find in the last couple of years but what goes around….

    http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2006160273

  • emptypockets replied to the topic rental guarantee in the forum General Property 17 years, 1 month ago

    Don’t buy anywhere you are not familiar with. Pay for a independent valuation before signing anything. Couple of hundred bucks may save your own home.

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