Hi Dr X,
Could you expand a little on what a “first right of refusal” is?
I too have a neighbouring house I would like to get hold of.
Would this help at all?
“I am not a religious man; but if you are out there somewhere Superman, save me now! -Homer Simpson
Agree 100% with nearly all these comments.
I am currently wrestling with 2 of my grown up children who “should ” be much further advanced financially than they are.
Maybe they are happy to let ME do the hard yards and when I die they will get it!!?
One of them has just bought a 13k motorbike, supposedly to save money on petrol. Now he has to…[Read more]
Yeah i clicked “yes” on a free offer from him one day, and after that he emailed me all the time. I got sick of his presence in my life and so clicked
“unsubscribe” and eventually cleared Hans from my E life.
Nothing unethical though I would say.
“I am not a religious man; but if you are out there somewhere…[Read more]
You are a legend Dr X and congratulations on your healthy 9.6% gross return, as well as your CG.
The council rates – phwewph to that!
Sometimes I have tried to change some peoples limited view of their capabilities but without success.
Most people love to be stuck, and miserable, and if they can make you miserable too, they will.
I am sure that…[Read more]
What have you found with your research so far?
I am thinking that there are a lot of ppl with big super / redundancy packages who have bought B & Bs as a semi retirement option.
In my town anyway there are a few of these; and I can’t see how they are inreality making any real money.
Not a living I would say.
They do not need a living, and the B…[Read more]
I have got 6 units in a regional centre which return nett 7%.
These have a good outlook for Cap Gains growth, as I built them next to an expanding hospital. We are on 83% occupancy and looking at a rent increase at the moment.
They are serviced and short stay. see my website below.
“I am not a religious…[Read more]
Maybe it is now past the time for price adjustments.
Presumably you were happy to list it at $265k in the first place.
The offer you have received is 2.9% less than the asking price.
Although we should never see a certain percentage discount as acceptable necessarily, it should not be too surprising.
When setting the original price maybe you…[Read more]
I know an old bloke (probably only65 or so I guess) who is an ex farmer who gets builders to build new places s0 he can sell them for a living.
He is one of those careful, pedantic but clever fellows who is exceedingly careful about how he does it all.
He has enough $$$ from the sale of his farm to have 2 on the go at a time. This way he gets…[Read more]
I reckon you could certainly “REPAIR” a lot of these things and claim it as such in a few different stages.I suggest leave it at least 6 months first.
Hope you are making allowance for the repairs in your negotiations. I am sure you are. If so there is not such a problem.
This is not expert advice etc…[Read more]
Look at your CG upside.
Is there any?
How much will you make +CF anyway.
If it is $10 per week for one and then $50 per week for 5 props; I would look carefully as to whether there is an upside in CG as there is not much cashflow coming in.
Think of it this way – if CG gain outlook is poor; would you borrow say 500,000 in order to…[Read more]
My first reaction would be to cautious (I am naturally cautious anyway).
I reckon that your attitude to investment is as important as your knowledge. Sometimes more info seems to cloud peoples goals and they get analysis paralysis.[crying]
You know yourself best and can decide I am sure.
As they say knowledge is never a burden; but perspective…[Read more]
On reflection perhaps my post did sound a little negative.[ohno]
Truly, I would welcome more new investors to my town, as activity can only help the market. More investors MUST equal higherprices as time goes on. But a bit more competition for the bargains.[ohno2]
Good point about location though. I only buy in my own town as I know…[Read more]
You have already found out that the CF+ props have dried up since the last boom. [glum]
I don’t think they will reappear till the market drops further or rents shoot up.
Certainly you may find a few in rural areas but these are more risky.
I hate to be a wet blanket but at the moment, an investor needs to be pretty creative to make a…[Read more]
I have read your very good posts before and I have a lot of respect for your good advice. You are one of the legends of this forum(and there are a few too).
I guess you are right about a lot of commodities gaining in cost quicker than my real estate. (inflation I think it is called)
I sincerely hope I am not in the position…[Read more]
Oh how I wish I had been as smart as you are when I was in my early 20’s!!
You doing v well at this stage, just planning your investment. A lot of people don’t get around to it till later in their life.(I am one of them)
There is absolutely NO DOUBT you will do well in the long term.
I am not a big fan of losing money each year hoping that CG…[Read more]
You are one brave person.
My only suggestion would be to get a builder, plumber and sparky to look at it and give an estimate.
If you have a v good inpection service then maybe they could help.
I always think anything can be fixed up if the structure beneath is sound.
Sounds like you’ll need a big box of paracetomol to get thru this…[Read more]
Others may disagree but I say – don’t buy in towns less than about 30,000.
There have been too many meatworks closures, mine shutdowns, rural downturns and there is the everpresent pop drift to the big cities in the past. These things are ongoing and usually unpredictable. Most smaller places rely on 1-3 industries.
If you do manage…[Read more]
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