Maybe at this point you should try tackling one thing at a time. Your husband obviously handles all the money maybe you could sit down with him and explain how you would like to take a more active role in the money management. I wouldnt be talking about investing yet just that you would like to help pay the bill etc. Talk about your role in the…[Read more]
The wording of a finance clause needs to be very specific. If you just say subject to finance the seller can find you finance. With the finance clause is there a date by which the finance must be sourced?In the case of your sister this sounds like it is an open ended clause which may be hard to get out of. The best way to use a finance…[Read more]
Once you signed the contract to buy the property not when you settle you become resposible to take out insurance on the property ( at least in Qld this is how it works)I am surprised your solicitor didnt mention this. From what I am reading you signed the contract then the house was broken into.Or was the house already a wreck and the…[Read more]
I dont know anything about building in Mt Isa but I was just wondering if the tenants you have in the house know you plan to do this as I would be mighty peeved if I just rented the house and you then start building in the back yard.
In Qld when you make an offer you sign a contract and write in the price you want it then goes back and forth until both parties sign against the same price so the contract can get very messy. When it comes to finance you can write in the specific bank or other lender that you want to deal with. The other way around this if you havent specified…[Read more]
We have just bought another property and the owner wished to rent it back. We informed them that this would be ok but that they would need to sign a rental agreement and the agent will need to do a property inspection at the beginning. This now means they are on a normal rental lease they paid their bond and we have landlord insurance in place.…[Read more]
What are you paying this PM to do. If you feel the need to check yourself why use a PM at all.
With my PM they ring with prespective tenants and we discuss the pros and cons and make a dicission on whether wwe will let it to them why had your PM not rung the old landlord?
Hi Cabo Wabo
We have done the letterbox drop and have had good results. We tend to just write that we are looking for a property in the particular area and if anyone is interested to give us a call.We have tended to get replies from people who were thinking of selling and this just prompted them. We dont mention price until we have looked at a…[Read more]
How long have the tenants been in the unit next door. I own 2 townhouses they are practically identical except one has an extra carport.The one without a carport rents for more because the tenants have been in there along time before rents started to drop hense why they pay more, the other one has came up for rent a couple of times but the…[Read more]
We have had the bank ( which bank) accept a valuation above purchase price we just got the valuer involved to persuade the bank that hte property was worth more. As for seeing the valuation all you need to do is organise it yourself with one of the bank valuers have them put the banks name on it but send it to you not the bank, you can…[Read more]
We always discuss with our valuers before beginning major renovations. We outline what we are planning on doing what quality finishes etc and ask them for an on-comp valuation. This tells us if we are going to make money out of this or not. The more you do the easier it gets as the valuers get to know the quality of your work.
Just a quick question Greg, Do you have any type of insurance like car, building etc or is it just landlord insurance you dont have. Do you have contents insurance for the properties.
The reason I am asking is that I see it as just another piece of the investment puzzle. I have comprehensive car insurance because I cant afford to be without…[Read more]
The answer of a house or unit cant be easily answered. If you can afford a hose or unit same location then the house would be better, but you probably find you could afford a unit in a better location to a house, now you have to decide if the units location will give it better capital growth compareed to a house in a worse location. We…[Read more]
I think you should have thought about the types of tenants that you want before you buy the property. We own houses in the burbs and they are usually tenated to families and have pets, We also have town houses and in these we get a mixture of young people or families and they also sometimes have small pets, then there is our units which dont allow…[Read more]
Let me guess you manage this property yourself.
It should already be written into the lease what they have to pay if they wish to break it signed by them when they took the property, not a verbal agreement when they want to leave.
Secondly where is your insurance for the occassions when tenants leave without paying their rent?
Maybe this…[Read more]
Are you waiting for Peter S to tell you it is time to buy, only you know if it is time to buy property. I am a Peter Spann graduate and the main thing I have learnt is that you make you own deals, keep looking and you will find.
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