Jars

That was a great review, and they would easily be the same things I got out of it too, with the addition of a few directly relivant bit for our situation.

It was great to catch up with people that have become good friends as well as meeting a few new ones, I thought SIS would be a bit more “preppy looking” and that Chan$ (Jet, Dollars,…[Read more]

Just a friendly reminder folks keep a cool head and don’t take other peoples opinions personally and don’t throw stones.

Leigh K
Mod

Westan

I noticed something interesting yesterday when we received our annual report, it stated that overseas owners paid a lower annual levy than locals – now I’m peeved about that – but it may be something for you to keep in mind when you are looking around, maybe help you save some annual funds. Don’t forget that you have to pay a membership…[Read more]

Good on ya Janette,

What a super post for your first. Welcome to the forum and I look forward to seeing you on Sunday.

Cheers
Leigh K[biggrin]

Hi Westan

We have owned one for years, same story as FW. We exchanged it to the Carribean for our honey moon, those were the days!!!!

In fact we were only talking a couple of weeks ago about selling ours to buy another IP. Hadn’t given it much thought since but PM me if you want any details.

Cheers
Leigh K[biggrin]

Hi Dom

I can’t help you too much, but to give you something to look at straight away is to do a search here on the forum as this is a popular topic and there has been a lot of very good advice.

Cheers
Leigh K[biggrin]

Craig

You could do a joint venture without the complexity of a trust, this is where each of you form a contract specifing your share in the deal, your solicitors can do this.

I also noticed that you are in Melb, Dale Gatherum Goss as mentioned above is a sensational accountant (I travel from Sydney to see him – in a professional sense of…[Read more]

Hi Hector

Nice post Kay[thumbsup2]

I would just like to add that you need to decide what your goal is and prepare a plan, such as mine is to produce a stream of income. I do this by buying CF+ regional and rural properties.

As you become more experienced you can change your plan as we are about to, there is an area not far from where we live…[Read more]

Now we have to come up with an extra 2K to cover which we don’t have. Does anyone know what happens if we don’t come up with the $2000. Who is liable? If the loan falls through do we have to pay anything to the vendor.

Check your purchase contract for penalty clauses, sometimes they can be quite high and are charged on the outstanding amount…[Read more]

Ticky

Well done, it is a tough thing to do questioning someone’s work or pricing.

You are the boss of your business so take charge, you may not win them all but at least you are taking an active interest in what happens to your money. $100 could be the annual profit on a cf+ property.

I do beleive that things are all about swings and…[Read more]

Rob

Is option B right for your goal or are you making it fit for lack of other option???? Just something to think about.

Cheers
Leigh K[biggrin]

Hi Rob

Which one of these two propsect (if any) will get you closer to your goal?

Cheers
Leigh K[biggrin]

We have bought one property sight unseen, as it turns out we have done well but we did spend a week at the property sprucing her up. The nerves that go along with buying sight unseen are not worth it to me.

I have to say I am with Yack on this one! What is the time and cost of checking it out compared to seeing them yourself. Maybe I am just…[Read more]

rooti

I have one property under family trust/company.
I’m buying another now.
Q. What structure would best be used for future purchase of properties.
Any info greatly appriciated.
Without any more details I would say buy them in your family trust (with corporate trustee). You can buy many in the one trust before you need to set up a new…[Read more]

I’d also like to play cashflow – never played before.

GP can you share the details.

Cheers
Leigh K[biggrin]

Well just for the sake of joining in, we still only buy propeties with a 10% or better yield. That may be residential, retail, commercial, reno etc.

Cheers
Leigh K[biggrin]

Gats

I agree with you in this instance, ethically it is right thing to do by asking Steve. Good on you.

Cheers
Leigh K[biggrin]

Sonja has clarified it very well, if you are thinking of bird dogging in OZ, I would suggest you have a read throught the REA website for the legal aspect of introducing buyers and sellers.

Cheers
Leigh K[biggrin]

We nearly had a lemon, I think it was the day after settlement our existing tenant topped himself and we didn’t know for a good week or so. Then being a smallish town everyone knew of the event and we figured we wouldn’t be able to sell it or rent it.

Then we identified a niche rental market in teh town. Each year the town bring in insterstate…[Read more]

One other thing you cannot do is introduce the buyer to the seller or the sellers agent, as this is deemed as being the agents representative.

Cheers
Leigh K[biggrin]