Originally posted by Karl and Rita:
Hi guys,

just another quick question, would you buy a property unseen?? If so on what conditions would you??

Hi Karl and Rita,

Me personally, no.

But if I had to, I would make sure I had as many photos sent to me as possible (from literally every and any angle, inside out, upside down), plus a copy of the…[Read more]

Originally posted by RussH:
Monopoly,
Hello my friend.
You have used a different price to Greg so the calculation can not be the same.
His price was 100 000
so 10 400 divided by 100 000 = 10.4%
Russ.

Hi Russ,

Thanks for picking up on it; but I did it deliberately.
If you have a look at Greg’s explanation of how he got the 10.4%, although he is…[Read more]

Hey Greg,

Looks like I’m just gonna have to kill ya!!![cigar] No seriously, that’s cool. I don’t mind sharing the spotlight!!!!!

I didn’t realise that you were going to post the NEW TOPIC and mistakenly thought you wanted me to!!!!! Oops sorry [blush2][blush2]….oh well that’s cool………for those who don’t know the formula, they now…[Read more]

SIS,

If the Body corp fees include building insurance, then I assume that that will inturn, cover your public liability. But as Derek said, it pays to ask your Strata Manager, just to be on the safe side.

Jo

Hello again SIS,

Well, as far as I know, and I am only going by previous insurers I have used, public liability is generally covered under “building” insurance. However, this is generally for a limited amount (eg. $2,000,000) and if you want to cover yourself for any further amount, say topping it up to 4m (or whatever) you will need to pay the…[Read more]

Sorry SIS,

Please explain…………..landlord insurance????

I plead ignorant here…..are you referring to public liability?????

Jo

Originally posted by Greg F:
I’m impressed with your Rental Yield figures. Thanks to Steve’s book, I know how to work out the CoCR (Cash on Cash Return) but in all my years of property investing, I’ve NEVER learnt how to work out the more “traditional” Rental Yield. Do you mind teaching me:
1. The formula and, if it’s not too much to ask…
2.…[Read more]

Hi SIS,

I believe so; but I can’t speak for body corp rulings on properties in other states.

My hubby owned a 2 br unit which he recently sold, and that had a body corp, or which building insurance was included into the BC fees.

Jo

Sorry to hear that Hux001,

But unfortunately there is a lot of that going around; that is, properties being “passed in” at auctions.

REAs are advising people to look at private sales in preference to auctions at the moment, because of this very reason. The clearance rate is quite poor in comparison to (as recent as) a few months ago.

Jo

Hi Rob,

Understood; and hopefully we can move on from here.

It would be a real shame to see you not contribute, even with the odd “smart-arsed” comment (myself included) we all stand to learn from and teach each other a great deal. It may get colourful along the way, but if we are all mature about it, any problem should be ironed out fairly…[Read more]

Sorry Rusty,

But that sounds RIDICULOUSLY HIGH to me. I really can’t enter into the argument too much otherwise I’ll get shot by some in here….as I have been quoted in saying, if it is more than 5% I walk. I guess it varies from agency to agency, and like everything else is open to negotiation.

Alot of people pay 8% (from what I have read in…[Read more]

Good for you Henry,

And thank goodness you listened to your Dad!!!!

Yes “passion” is important, and not just in investing. When you are passionate about what you are doing, you tend to give it your “all” and that can’t be such a bad thing now can it????

Keep up the good work, [biggrin][biggrin]

JO

Mini,

The bad PMs I referred to were being paid 7% which I did not dispute due to the fact that (a) that was the going rate, and (b) I figured that seeing as my access to the properties was limited to due geographical location, what’s a few extra dollars???

So you see, it was the higher paid PMs that stuck it to me, not the ones paid 5%

And if…[Read more]

Hi Bronwynd,

Sounds interesting; I can see where there are savings to be made in that you move into them before selling off property (hence saving on CGT; always a good thing to avoid if you can [thumbsupanim]) but isn’t building the home more expensive in the long run, than say buying an established home (maybe doing some reno’s if need be)…[Read more]

Hi Kay,

Definitely want to buy at least one more this year, but I have to wait till settlement on last one is finalised (otherwise hubby will have a hissie fit poor boy!!!).[ohno2][ohno2]

Cheers,

Jo

Hi Henry,

Still favour property over any other type of investment, only because it has been the most productive for me over the years….that is not to say it is the ONLY way of making money, but it helps.

Currently “window shopping” looking at buying another IP, hopefully in the next few months. However, hubby insists on waiting till the…[Read more]

No officer, I’m not…..

intox….
intoxic….

drunk!!!!

[lmao][lmao]

Hi Greg F.,
Thanks for remarking on that 8% agents fees…..damn, I completely glided over that one!!!!

That is terrible…..8% !!!!!!![angry2][angry2]

In Victoria they will try and sting you for anything between 6-7%, and I ALWAYS INSIST on 5 (nothing higher or I walk).

Do other people pay 8% too??????[blink][blink]

Interesting point.

Jo

You have to admit though, for someone who worked as an RE, her management portfolio has expanded quite considerably wouldn’t you agree?????????? [lmao]

Jo

Thanks for your comments Russ, I actually went back and re-read the message; and noticed that Brad was referring to HIM paying child maintenance, not receiving. Durrrrrr….

Hence, now I understand Brad’s dilema!!!!

I was looking at it from the payee’s point of view. Either way, I totally agree with your comments.

Cheers,

Jo