Total Members: 148,375

Nessie

  • Dino, don’t let it get up your nose, try and get it into your bank account.
    Get a rent assisted tenant into your IP.
    That way you are getting rent assistance to help help pay off your PPOR. ????
    Turn your [:(!] into a [:D].

  • Nessie replied to the topic vendor contracts in the forum The Treasure Chest 16 years ago

    Hi ladybug

    I’m in the mp area. My Hubby may be able to assist you – he is a Solicitor. If you would like some help send me an email at
    [email protected]
    with your Ph. No. and I’ll get him to give you a call.

    Cheers
    Nessie

  • Hi Steve,

    Glad to hear that you have acquired this magnificent property from my Accountant? He showed this picture to me prior to Xmas last year suggesting that I could rent it from him for the holiday season. [:O] I had to decline – the stairs were too steep.

  • Hi Jstuart

    Welcome to the forum.
    When I bought my first real estate property I struggled with the debt level. Couldn’t sleep – worried about repaying the loan quicker to save paying interest.
    Now some 20 years later and with debt 40 times that of my first real estate purchase I don’t care about my debt level now. Why? Because I have the…[Read more]

  • Nessie replied to the topic Torrens Title in the forum The Treasure Chest 16 years, 1 month ago

    Hi Brent

    I understand this to be that the block of Units is all under the one Title – Torrens – that is the Units have not been subdivided. So there would be no body corporate fees because a Body Corporate is only created when there are separate titles for each Unit.

    If you intend to sell any of the Units individually you will have to subdivide…[Read more]

  • Nessie replied to the topic Termites! in the forum The Treasure Chest 16 years, 1 month ago

    Hi Doogs

    I always get a Pest Inspection Report on a property before buying it. If the report is bad then I walk away from the purchase.

    Are to saying that you have acquired a property with a termite problem?

    I haven’t got my copy of Steve’s book yet. So am unsure what you mean by rising above this “Plateau”.

    Cheers
    Nessie

  • Hey Bradyboy,

    quote:my name is brady and im 12

    If you are “12” you are too young to be acquiring property!!

    Wraps – get yourself a copy of Steve’s Wraps tapes
    Plans – only you can do this – what are your goals for now and the future. Work this out and then you will be able to put your plans in place to achieve your goals.
    Referrals/Research -…[Read more]

  • Beancounter, you should not just rely on the 11 sec. solution. You must think beyond this and look at other methods. MiniMogul is right by saying “There are a zillion ways to make negative cashflow houses positive..”

    I use the 11 Sec Solution as a starting point. If the property doesn’t fit the 11 seconds then I have several fall back solutions…[Read more]

  • Gaza

    Let me see if I help you.

    Land Cost $60K
    Building Costs $260K (that is $65K each Unit)
    Other Costs S/Duty etc. $16K
    This makes a Total of $336K

    The Building costs are extremely cheap. Am concerned that $16K is not enough to cover variations and non-building cost items such as landscaping. Have you taken into account Architect Fees,…[Read more]

  • Hi Delight,

    I think you should walk away from this.
    A 55 yr old Weatherboard house with 20+ points on a Building Report would be a no-no in my book. Too many problems. Sounds like a bulldozer is the best thing that could happen to this place.
    Morwell – well my research several months ago was not good. There were many vacant shops in the main…[Read more]

  • Hi fz7hny

    Welcome to the forum.

    Some simple Questions to ask :
    How long has the property been on the market?
    Why is the Vendor selling?
    What are the rates and outgoings on the property?
    How long as the Vendor owned the property?

    Get the answers to these questions and then more questions will arise from the answers.

    Also read some of the…[Read more]

  • Hi Andrew

    Great reading. I thought I was actually reading my property investing life so far – everything you said has happened to me. Many a time have aimed high (the bullseye) and not hit it. Got the outside rings or totally missed, but have learnt a lot and also learnt not to make the same mistake next time round.

    Time is such an important…[Read more]

  • Nessie replied to the topic Lease times in the forum No Subject 16 years, 1 month ago

    Hi Dnanz

    I presume you mean a lease of a residental property. Yes, it is uncommon for a lease to be more than 12 months. In Victoria, Tenants usually sign a lease for 12 months. Mainly to protect the landlord. If the term is longer and there is a problem with the Tenant you can’t get them out – the lease has to run its term. Majority of…[Read more]

  • Nessie replied to the topic Commercial property in the forum No Subject 16 years, 1 month ago

    Hi Freedom

    Banks/Financiers will only lend 70% LVR on commercial property plus the term is usually only for 10 years.(Residential is 80% LVR and 25 or 30 year terms) So this means a much greater monthly loan repayment.
    Also they like at least a 5 year lease with an option. That is a 5 year term with the option of a further 5 year term.
    There are…[Read more]

  • Hi all

    Beware he is back already. [:D]

    Yesterday’s Herald Sun carried a half page ad on Page 31 with the headline
    ” Henry Kaye …. “Business as Usual” ”

    The fine print states that all regulatory scrutiny of his education programs has been successfully resolved and that the ASIC have decided to discontinue its litigation because he will…[Read more]

  • Hi Cremin

    Yes a line of credit is the best option. I find that by having this type of facility it can give you more bargining power when submitting offers for IP’s. You don’t have to buy subject to finance, you can pay cash, you can do a quick settlement. Then finance the property after you have touched it up – you can get 80% LVR of a higher…[Read more]

  • Hi all

    Marco, I was waiting for a train when I read the article – someone had left behind and I did likewise, so can’t remember which page it was on.

  • Hi Sooshie

    I read a similar article in yesterday’s edition of the Australian.

    The Media hype about investors creating high prices is just exactly that. Investors are such a small percentage of the overall market and I believe that they are not responsible for the increases.

    Good Investors (not all investors) have their limit and will stick to…[Read more]

  • Hi all

    Congratulations Andrew. Terrific Title. Perhaps Steve can use it for his next book !! [;)]

    Cheers
    Nessie

  • Nessie replied to the topic http://www.propertyinvesting.com addiction in the forum No Subject 16 years, 1 month ago

    Yes, I too must check out the forum first thing every day – I have to have my daily dose to get me kick started. No Coffee for me – The forum is chemical free. [:D]

    But like AD, I find that time spent on the forum is time not spent on finding new property deals and so not as many contributions of late.

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Nessie

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