Hi Martin and Others
I feel reasonably qualified to answer this one!!
We’ve bought lots of “stuff” in the last 12-18 months.
Been a mix of things in the US, NZ as well as things that are local.
Ranging from buy and hold houses, minor renovations, some developments and blocks of flats.
Hope this helps.
– David Bradley
Bradley McKnight Group
I’ve had this situation before, and quite a bit recently.
My (somewhat cyncical) take is that the agents are trying to create a bit of a frenzy.
There may or may not be other bidders.
In my experience, I have refused to play their game and instead will wait until the offers don’t materialise. I figure it puts me in a better negotiating…[Read more]
In my former life as an accountant I came across the situation whereby a person’s super fund owned (well put up the deposit) for their home.
We went through the usual arguments and pain of stamp duty and capital gains tax.
The numbers at the time indicated tax wasn’t the main problemm but stamp duty.
I can’t remember all the ins and…[Read more]
My initial thoughts are that will the council allow him to run a business from home.
Some councils have regulations that say you can run a business from home provided you meet certain criteria.
One of these criteria is the number of people you employ cannot be greater than a certain number – 1 rings a bell.
Therefore, your risk is…[Read more]
In relation to your numbers… If only!!!!
1. We don’t receive all the proceeds, a small of issue of GST
2. I wish it was as simple as just doing 1 days work. Unfortunately, we have been working on this for 3 weeks.
Yes we make money from the event, but it is not quite as easy as you make out.
Good luck to the people coming tomorrow. Hope…[Read more]
Well agents don’t do themselves any favours….
There is a commercial property not far from where I live that has been vacant for over 3 years. I know that coz I used to walk past it with my eldest child ( who is now 3 1/2) in the pram.
So there is now an agents board out front. I make a time to go through the property.
It is a $400k property…[Read more]
I bought my first in 1991 (aged 21).
My mentor was thrilled.
Didn’t buy another until the 1st one with Steve (May 99)
My mentor has just celebrated 40 years in the property business.
Maybe I have missed something in the reading of this thread, but isn’t all he has done is take multiple mortgages on a property?
This by itself is not against the law. I think there is a difference between fraud and not telling the family what is going on.
If he has told some fibs to get loans he will obviously be in for a bit of explaining.
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