As usual, a great tip Steve. It’s surprising how many buyer simply don’t do things like this. Even when I bought a new remote control for my TV priced at $69.95, I asked the question “How close to $50 can you come to for me on this?”. And ‘yes’ I did get it for $50.

Indeed and well said. I just negotiated a $500 discount of a medical procedure u…[Read more]

Thanks for the tip Steve! I like your tip too Coatesman!
On Friday just gone I was trying to employ the the strategy of signing the contract with either a DD or finance/build/pest “get out” clause. The vendors had instructed the agent not accept any offers with “subject to” clauses. I thought this a little out of the norm. Thoughts anyone?…

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What is a good get out clause?

A clause you add as a special condition to a purchase contract that makes the contract conditional upon (or subject to) that clause being satisfied. Common examples are subject to finance, subject to building inspection, subject to planning approval, subject to due diligence, etc.

The more get out clauses you have,…[Read more]

What is a good get out clause?

A clause you add as a special condition to a purchase contract that makes the contract conditional upon (or subject to) that clause being satisfied. Common examples are subject to finance, subject to building inspection, subject to planning approval, subject to due diligence, etc.

The more get out clauses you have,…[Read more]

Great one Steve. I recall a recent study that said if you use the word “because” it helps people agree with you even if the reason (of the because) is not entirely valid. Eg Can I step in front please because I need to use the photocopier (of a line of people using a photocopier) Apparently like over 70% compliance. Keep up the great wor…

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Indeed! That is from the excellent book ‘Influence’.

I have it in my library.

https://www.amazon.com.au/influence-Psychology-Robert-PhD-Cialdini/dp/006124189X

– Steve

It’s going to depend on the scope of the works, and how urgently you need it done. The bigger the scope, and the higher the urgency, the bigger the cost. In respect to the legals, I would have thought circa $1000, less if you package it up with the conveyancing.

– Steve

Hey Donnie,

Yes, this will be a problem unless you are the owner. A builder would be my trade of choice.

I think the best way forward is to get the owner’s permission to do what you want to do once the property is unconditional. This is usually agreed as a special condition, but I would visit a lawyer to see if (and how) it can still be done…[Read more]

I noted today that the company, Folio Property Pty Ltd, is being ‘struck off’ the ASIC company register. I recommend everyone who lent them money get legal advice asap.

https://connectonline.asic.gov.au/RegistrySearch/faces/landing/SearchRegisters.jspx?_adf.ctrl-state=u3a5q07nx_4

Regards,

– Steve

Loving your eagerness fxdaemon.

The course being recorded is being held on Saturday. It will take a couple of weeks to edit it up, hence why I said on the webpage that it would be ready in April 2018.

Sincerely,

– Steve

Loving your eagerness fxdaemon.

The course being recorded is being held on Saturday. It will take a couple of weeks to edit it up, hence why I said on the webpage that it would be ready in April 2018.

Sincerely,

– Steve

Hi Adrian,

Yes, may I recommend Daniel Gibbs – the gentleman you refer to who spoke at MMC last year.

His website is http://www.clinicmastery.com

I can unreservedly recommend Daniel.

Bye,

– Steve

Sure. Trading is when you buy with an intention to sell. Investing is when you buy with the intention of holding. That’s not to say you won’t sell, but rather you are not buying with the intention of fixing then selling in a short or medium time frame.

– Steve

G’day Ryan.

1/ If you purchase real estate with the intention of trading it then your profits are captured as ‘ordinary income’, rather than ‘capital gains income’. So if you buy a property with the aim of sub-dividing it and selling it, and you make a $100,000 in 15 months, then even though it is > 12 months, given your intention when purchasing…[Read more]

G’day Ryan.

1/ If you purchase real estate with the intention of trading it then your profits are captured as ‘ordinary income’, rather than ‘capital gains income’. So if you buy a property with the aim of sub-dividing it and selling it, and you make a $100,000 in 15 months, then even though it is > 12 months, given your intention when purchasing…[Read more]

G’day Ryan.

1/ If you purchase real estate with the intention of trading it then your profits are captured as ‘ordinary income’, rather than ‘capital gains income’. So if you buy a property with the aim of sub-dividing it and selling it, and you make a $100,000 in 15 months, then even though it is > 12 months, given your intention when purchasing…[Read more]

G’day team, and especially Clyde.

Clyde – I’m coming late into the discussion here, but am I right in believing you own two properties with negative equity and negative cashflow?

If so, are you in a position to absorb the loss of selling either (or both) of them? Or are you no longer able to afford the cost of owning the properties and can’t…[Read more]