O.K I had a similar problem only I was the owner of the property, the tenants, knowing full well they were lockied into the lease until July (this was in January) bought a house, they then stopped paying rent. Being reasonable as they were still locked into the lease I said, fine, all I ask is you pay 8 weeks rent and you can be free of the lease…[Read more]
We made the same mistake, PPOR + 2 IP's all together, we just sold 1 and had to end up paying to have remaining 2 re-valued to cover the payout figure for partial discharge….was not happy! See I knew we got enough for the place to cover that particular house owing amount, but they took the others into account as well, otherwise it would have all…[Read more]
We have our investment property for sale in Narrabri NSW. 15th June median house price was 190,000 today it's 210,000 Not much of a difference compared to what others have reported, but good for me Graph shows region on a decline, but Narrabri on a good incline …. Thanks mines
Hi Paul,No, havn't decided which way to go. Yes they said if I don't want to ask the questions then to have the prospective buyer contact them, i just though it would be easier fot me to have a few base figures to give to prospective buyers. He did mention the lease option or something as well.Thanks for the reply
There is a lot that can be said about making rather than buying a cashflow positive deal. All of that has been well covered in many posts. The burning question that doesn't get answered is "are there cashflow positive deals available of the sort outlined in Steve's books?". We have found a place in reasonable proximity to…[Read more]
Hmmmm yes, that seems to be their problem, her hubby and his ex bought a house together (even though his name was only on it for 2 months) before 2000 in WA. They have been thinking of 100% loan. Wouldn't take them long to save the money for legals if they cut off the austar for a bit etc….They did have a nice deposit but had to buy water for…[Read more]
Hi Marc, yes I know of a few things money is wasted on such as pay tv, alcohol and smokes, unfortunately they won't move to a cheaper place as they don't like having close neighbours and are on 5 acres but the house itself is crappy. I told her to buy that and do it up, but doubt they will but if they want house and reasonable land, then that is…[Read more]
You could also reduce the rent and sign up a tenant on short lease, it may be a bad time of year for people looking for houses. Then up the rent at a good time with new tenant.Just a thought, may not work, but might too. All depends if you want to run the risk of having problems again.
Are you looking only in Adelaide? If not, I have a much cheaper IP for sale in regional NSW (Narrabri, currently cotton farming area, but expanding to mines as well). Just PM me if you want more info
Don, there are subdivisons going on all over the place in this area right now, even in rothbury I think which was a blink and you'll miss it area! Happy to see if I can find out though if Greta is subdividing around that area, my real estate is really nice and if they know they will tell me
True Harley, as a renter, I always look for built ins. With a large family, wardrobes are just a hasle. The place is going to look alot better with clothes in a built in than all over the floor until I can go buy one, then try to lug in through awkward doorways and risk chipping doorways and paintwork!
When I sold 1 house about 9 weeks ago, I rang the bank as soon as contracts were signed as they had to organise a partial discharge. I then had to put my request in writing and fax it to them. Was lucky I did too as it was all only done just in time, mind you it was a 30 day settlement so quite short as is the way in QLD!
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