Forum Replies Created
Hi Fredo!
I am so glad you have posted this!
Does anyone know how much staging cost? Say, for a typical 3 bedroom home – all rooms staged. My realestate agent gave an approximation of $3,000. This does not sound a lot for the benefits gained. And where does one look for a staging company? Some of them charge $100 per hour for consultation (when looking at google results). Should I ask if they have some sort of credentials? Ie. interior design… or is that too anal?In VIC in Yaraville to Footscray area I would highly recommend the team at Jas H. Stephens – very professional and highly focused on the job.
Auctions are defiantly worth effort, NBS!
I am going to stick up for auctions – I like them. I have bought and sold in QLD and VIC and they seem to work in VIC better than QLD.
Rule No1 – EVERY realestate WILL underquote which is why always add 10-15% on top of the quoted price and THAT will be price that the owners want to sell. If this is too much then save your time and effort.
ALWAYS work out your ceiling, stick to it (yes it feels like you have won when you walk away from it at the end) and do not bother bidding until the property is on the market.
NEVER bid against the vendor’s bid – they can do this but only once and it is not a real bid but a technique to ramp up the price. (I attended an auction where someone placed a bid, then the auctioneer did a vendor’s bid and then the SAME guy placed in another bid! I guess he did not realise that he just bid against HIMSELF!)
WATCH who is bidding – never ever let the auctioneer accept bids from a pot plant behind you. Don’t be afraid to interrupt the process by asking who was the last bidder. (In fact feel free to do this to break that nasty rhythm that makes people panic and bid more.)
Remember that most people hate auctions – THIS IS GOOD because if people are turned off them it eliminates competition.The reason why I like auctions as opposed to private sales is because it gives you a much better FEEL of the market. Is it booming? Is there a lot of interest in the area? What type of people are looking to buy? How eagerly are they spending (are they bidding by reluctant lots of $100 or galloping $10,000)?
At the end of the day auctions are open, transparent and in a sense more honest way to purchase. In private sales you are always told that there is always someone else who is interested in the house. How do you know that this is not a load of bull if you can’t see the person yourself?I have a house for auction at the moment and our first open day is tomorrow. One other benefit as a vendor is that by attending auctions in the area i know how eager the market will be for my popery. I know exactly the date that my house will be sold and can guess when the settlement will happen. I can plan ahead, which is a luxury.
VW Beetle 1954 model – limited vintage rego.
VW Van – diesel – will go anywhere and do anything!
Mazda 6 2009 – company car with unlimited free fuel!
2 BMW motorbikes – 650 and 1200. For fun.No depreciating assets here!
One day 911 Porche.
Too right! I think more people should do what you did and test the quality of their PM.
My vote is for no bath!
They are such space and water wasters! Totally agree with Duckster to invest in a deep set shower basin if children are an issue. Otherwise a double shower is a lot more attractive for a working couple and these days more and more people put off having children. Mind you, if you were in Brisbane there would be no debate – apparently every house HAS to have a bath. Council regulations.
Take a look at Seddon and I agree with the above that some pockets of Footscray are worthwhile (careful though of council housing areas).
Funny how the grass seems greener… we are currently in VIC but are looking to QLD as a place for better opportunities.
My sister and brother-in-law were against renting and wanted to give the best for their 3 children, so they project managed the building of their dream house on a good sized block. In the meantime they put up living in a shack on the property while the house was built. The funds ran out and the building stalled. After a few job changes it got started again. They were living close to poverty just to get this thing built. There is no happy ending to this story because when they moved in, their eldest already had a place of his own and the second one soon moved out as well. It was all for naught.
The beauty with renting is that you can live in a house that is suited for you now.
Agree that mail redirection sucks. We only have the one P.O.Box (currently in a different state where we are now!) which redirects all. Avoid giving out the ‘current’ residence to lessen the confusion when its time to move.
Bought our third property in 2009 (Noosa area) and maxed the borrowing capacity. Oh, if we could buy more!
Not wanting to be monkeys with a trapped hand in the jar, will take Steve’s advice and sell the ripe ones for better opportunities in 2010.
Good investing to all in 2010!
That’s fantastic!
Once more, unrelenting questions…
1. You mentioned a beneficiary can be a company. CAN a company be counted as a family member and be part of a Family trust? I am only assuming that it can, providing directors are family members. If they are not, then one needs to form a Unit Trust instead. Is this right?
2. In the next two years my house will be mortgage free thanks to property investing. I hear some talk about gifting their principal home to a Family trust. I know that this attracts stamp duty and the gifting process is a long process if one does not want to incur a gift tax. BUT why would anyone gift their principal home to a Family trust? It is not an income generating asset and it strips your own assets making personal loans difficult. Would you do this so that you can cover the costs of rates and upkeep with before tax money from the Trust?
(Scott, my shorthand is still in want of education – what does SMSF stand for?)
Greatly appreciated!
Vita22
