Total Members: 156,814

Steven

  • Hi all

    Asking about putting building inspection clause in a contract. I would like to find out has anybody successfully got vendor to remediate an issue that is NOT exactly considered a “major defect” before?

    I understand that if a major defect is found, the buyer has the option to pull out of the contract. (or alternatively the vendor can offer…[Read more]

  • Steven replied to the topic Median House values. in the forum General Property 2 years ago

    I hardly pay attention to Medium price.

    I have made the rule to do the following:

    1. Look at “Sold within 800-1500 metres radios in the past 2-3 months” and make offers based on that, as long as the numbers make sense to me. It is up to vendor to accept or reject my offer but it is up to me to make my offer.

    2. Never up my offer unless I am…[Read more]

  • I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • So in other words, if your spending is like this:

    $1500 for food

    $800 for loan repayment

    Not only will banks add a few on top of the $800 to make your loan repayment look bigger (akin to adding an extra 2-3% on the actual interest rate to stress test your loan), but they will also add some money on top of $1500 for food to make it look like you…[Read more]

  • What about non-debit related spending? Like food, groceries, etc..

    If my living expense (not loans, etc.. just pure non-debit expense) is 1500 per month, will banks automatically assume it is 500-1000 higher than my actual spending as well?

  • Quick question about Stress testing.

    I understand that when applying for a loan, banks would use a rate that is higher than the actual interest rate to assess your serviceability, such as if the actual lending interest is 4%, banks might internally use 6-7% when analyzing your application, as a way to ensure if the interest rate hikes, you will…[Read more]

  • I don’t like crystal ball gazing… in other words, I don’t try to “time the market” as I have no confidence that I will get that right.

    Experts get them wrong the whole time.

    Media keeps on hyping it up but gets them wrong all the time.

    Economists get them wrong the whole time.

    Business Analysts get them wrong the whole time.

    So what makes…[Read more]

  • In this case, then we are talking about the same thing.

    In my example:

     

    Instead of buying at standard $250K market value, investors buy at $150K, spend $20-30K adding value and result in property achieving $250K value even though they only spent $180K on that. And as far as from practical application’s point of view, investors considers t…[Read more]

  • I think the issue with this thread is it is getting hung up on trying to debate the “definition” of something that is defined loosely when in reality, at the end of the day, what investors really care about is the practical strategies and the outcome it drives.

    Instead of buying at standard $250K market value, investors buy at $150K, spend…[Read more]

  • I don’t exactly like the idea of “crystal ball gazing” the market, because expert economists get them wrong all the time, so what makes us think non-expert economists can get them right?

    In the Eastern Asian philosophy, they say “you can control the Earth, but you can’t control the Heaven”.

    Market is like “Heaven” to my opinion and I have no…[Read more]

  • OK. Interesting story you have with your Moe property. Was it a property located on King St by any chance?

    One of the things that always tends to get me is most people (agents, tenants, property managers) tend to think “a better kitchen / bathroom” adds more value than “better carpet / wall paint”.

    It seems there is a general perception that “a…[Read more]

  • When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • I was looking in Horsham.

    It appears there were a few sold in North Eastern direction of Horsham and they were sold for low 200K or below 200K. But then there are also a few sold for over 300K in that general direction as well. (A few sold at Dooen Road for well over 300K).

    Speaking with agent, I was told the places near Mary St / Winifred St,…[Read more]

  • Hi all

    Today I hear the term ex comissioned home for the first time.

    Is someone able to explain what it means? (tried to google, there are lots of “opinions” about if they are good/bad, but haven’t been able to find a proper definition).

    Also, why are they good / bad?

     

    Steven

  • Hi all

    I haven’t posted at propertyinvesting.com for a long time. Not sure if this is the best place or if this should be a question posted under “Legal and accounting”.

    I don’t need very specific answers as I understand it is probably a discussion best to be had with Accountants in greater. However, I am interested in finding out if anybody…[Read more]

  • This is a way old thread, and I am kind of surprised that it got dug up….but the short answer is no, I didn’t go ahead with this training..

    But I went ahead with a different training (which is the reason why I am now in both Australian and New Zealand markets).

    By the way, you said “it’s sad how many great presenters/sales agents are out t…[Read more]

  • Hi all

    For those investors who are experienced. Can you please advise what is the best approach to get agents to talk to you when you research and look into an area that you never looked into before?

    My personal experience is that the agents in NZ are significantly easier for me to have a dialogue with than the local agents where I am based…[Read more]

  • Hi all

    Question for those who are active in Victorian market. I haven’t been looking for a while so I am kind of out of sync with the market at the moment.

    Anybody able to advise which areas are best suited to buy run down properties to renovate and then rent after renovation?

    I am flexible with price bracket though trying to keep it within…[Read more]

  • Load More

Steven

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
156,814

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!