Hey Countryboy
Guess there’s nothing to stop you refinancing for another 10 yrs after the first 5 or so.
I just financed a commercial property for 10 yrs myself. Doesn’t seem to be as popular with the lenders as residential that’s for sure.

Hi Mortgagehunter
would you please give me some details on those friends of yours with the 20 year loans…[Read more]

Hi Heinz Sander
I understand that if you use a residential property as security for the purchase of commercial property, you can get a residential loan with res rates. St george offered it to me within the last 3 months. PM me if you need more details, the dragon doesn’t pay me enough (like zero) to plug them like this. [biggrin]
cheers
thecrest

Hi Ali G
Up the time schedule immediately, so you get a decision now, and time to recover the situation if it goes wrong.
Place a new earlier deadline on your availability because you have to give an answer to another agent on another property which is $15 cheaper within the hour.
If you are that popular with them, you are that much better than…[Read more]

Hi Calvin
Thank goodness for biodiversity.
For some people, the thrill is the journey, for others – the destination, and for the most fortunate ones who enjoy either and both, good luck to you. For some, the journey and the challenge are just hard work and slog with a degree of difficulty and all unfortunately necessary to achieve their goal or…[Read more]

Hi Leigh
Usually the aim is to build your portfolio.
Hold onto what you’ve got and make it work for you to accumulate more.
Renting is a loss.
Is 5 cats really a good idea ?
Move to Sydney ?
Why not another property in Newcastle ?
good luck
cheers
thecrest

Hi Kicks
Always good to doorknock, a polite enquiry should receive a polite reply, no harm done.
A tenant would be ill-advised to be rude to a prospective investment buyer. If a tenant was rude to me I would say “Nice tenants are hard to find, would you like to stay on if I bought the place as an investment ? ”
The agency agreement might have…[Read more]

Advertisers want your enquiry. They will usually quote the lowest figure in order to generate a phone call or email. Usually only rent is advertised. Ask for a complete list of all the outgoings, when they’re due, and who pays them.
Query who pays maintenance on what, water costs, waste charges, insurances, copy of intended lease for you to add…[Read more]

Hi Elika7264
I “think” there’s a lot of uncertainty around at the moment, what with the looming election, RBA rates, 2.25% anti-investor Govt initiatives, and changing auction clearance rates . . . .
but I’m not sure. [confused2]
cheers
thecrest

Perhaps I should lighten up my business approach a bit, and call my next project –
the ” Butler Project “,
make it a short expensive and lavish exercise somewhere exotic like Tasmania, only 12 months long, a quality reno, minimal paperwork, and retire with a big tax-free personal payout, and exciting book options. Seems to work for some.
cheers…[Read more]

Hi Redweb944
Perhaps before you criticise Australia and “anything Australian” as you say, you might have the courtesy to write into your Member Profile exactly where you live. It appears from your post that you don’t have the wonderful good fortune to have permission to live permanently in this fantastic country that I for one, hold very near and…[Read more]

Originally posted by MarkyMark:
Hi TheCrest
Do you think there is the potential for the PM to just put any old tenant in the property using this strategy?

In your experience as a PM, what steps can an investor take to sway the PM into working to get the best tenant that they come across into your property?
Thanks,
MarkyMark

Very good questions…[Read more]

I picked mine because I’m still in an early growth phase, and because I named my last real estate project “bigtree” because it was destined to grow and would provide an anchor, shelter and deep roots for my family, and bear fruit for them. This is dredging personal thoughts from the “very deep” section.
cheers
thecrest

Hi Wayne 12
Just received $9K quote for evap for flat roof 2 storey double brick building comprising equivalent of 2 X 3 brm residences.
Refrig option would give me high energy bills forever after. Evap will be less energy bills long term.
Evap installation – Square insulated ducting goes across cliplock roofing entering each room from above,…[Read more]

Hi Ko_starr
Check all the agents who rent properties, see who’s most actively advertising. Request a few REAs fax/email their vacancy sheet to you each week. Buying tenanted property often comes with an unsettled tenant who has already seriously planned vacating just in case the buyer wants to move in. Don’t worry about which way they’ll jump…[Read more]

Hi Wayne 12
My 2 cents worth is : make sure the tenant is warm, cool, clean, big HWS, great sink & stove, generous shower head, everything works properly, and your PM moves like a scalded cat when repairs or maintenance is required.
cheers
thecrest

Hi Wayne
It’s important to make the IP comfy for the tenant, it’s worth a few extra dollars rent pw to the tenant, reduces vacancy & tenant turnover, is deductible, humane, etc.
cheers
thecrest

Hi Redwing
I’d have to agree with Myydral. My broadband with IE & XP Home Edition is online all the time, so I’m a constant target, so I know what keeps the nasties out, and doesn’t conflict with other programs.(Thought I did anyway).Malware intrusion is getting worse by the day. For product tests, good one to see is PCWorld Mag August 04…[Read more]

Hi Markymark
It works. I was a PM. PM’s can influence outcomes. In a reasonably busy REA, the range of tenancy applicants in any given week is from wonderful tenants to tenants from hell. The PM can steer the good ones your way, sooner rather than later, and most PMs and licencees would be swayed by such an incentive. If there are no enquiries…[Read more]

Hi Regrow
Thanks for the info, and thanks to the rest of you who provided input. It’ll help me a lot.
cheers
thecrest

Hi MasterREL
My recent experience buying a commercial property showed interest rates to be about 1% higher than res rates, LVR max 60%, term max 10 years.
However, if a res property is used as security for the purchase of a commercial property, res interest rates apply. Next time, I’ll buy the res property first. [arrowhead]
live’n’learn
cheers
thecrest