Well aturner, commercial property has some advantages and disadvantages. Residential is something that everyone can get into if you like- we all, well most of us live in something- so we can all relate to residential property. Commercial has some tricks for young players.
Yes, I am with you- get into residential- just do something with your…[Read more]

Xdrew- fast cars and loose women- we should be allowed to enjoy life too!
Maybe just “women” and fast cars though.

Hi Jamie, I agree with what you are saying. An investment should be looked at as a whole approach. It all has to be right for the individual. There are many philosophies on property investing and no one is right or wrong- just what is right for the individual.

Bluegrass and Jamie M- I see a lot of different strategies for investing in property- some people do it for negative gear and some for returns. It is best that someone do what is right for them- not because you have a bias due to the product you sell. IN this case, the young man has a a lot of income and a lot of tax probably as a result. Negative…[Read more]

I would suggest getting 3 real estate agents appraisals to see where it all lies. That way you can make an informed decision. I loved giving appraisals as an agent- the more you give the more chance you have of a sale. They are free from agents.,
AND valuers would call us anyway to get market feel.

Scott and Anthony et al- cooling off in Victoria is 3 days. You can cool off in 3 days- that is you can end the contract in 3 days using the cooling off period and pay 1% or it might be 2% of the price for no reason other than you just decided not to go ahead. HOWEVER, Anthony IS right – as per Victoria. You can end a contract within the “subject…[Read more]

Property Trader, this is great advice. Make offers and walk away. As an investor, you need to be able to walk away. There WILL be another deal tomorrow. Agents will always make you believe it is the LAST deal on earth- that is what we do. We as agents must love every deal we have. As an investor- there will be another one tomorrow.
Do your sums…[Read more]

Yes, that is what I was trying to say as Sonya Luke and catalyst are saying- dont just give it to him. Yes, as Luke says, tell him you want to sell and do the calcs as to how much will be left. Might be nothing as I understand it, you have not held this place long? So after agents fees etc might not be much but he gets same. Stand firm. Hang…[Read more]

Hi Breece, Thank you so much for all your feedback so far- it has been great- really helpful. Lets see how we go this weekend.

Hi Sare,
I am not sure why this should affect your credit rating. If you have paid up every time and there is no defaults.
My question is: Why would you walk away with nothing? If you paid 50-50? You should at least get back the $20K. He gets to get the value of your input PLUS your share of the FHOG PLUS ability to capitalise on future…[Read more]

This is all very interesting reading. I learn sooo much from you guys here.
I would suggest that Johnny sit down with an accountant who knows about property – and run through the scenarios. You might consider one of the guys posting here. You need to make decisions on your own position and desired outcomes.
This forum is GREAT for learning and…[Read more]

Brilliant! Thanks to both of you. i will send an email.
Cheers

Hi everyone, while on the topic, I am looking at a sub division in Whittlesea Council. I have been to council and they say this area is ear marked for redevelopment and would not have a problem getting the plans through. Does anyone have any experience here in Whittlesea council? Does anyone have advice? Are there any planners out there who are…[Read more]

Yes, poor choice of words perhaps.
I still recommend Tony Melvins Red to Black- makes all these suggestions.
Yes, the cosmos delivers……………

Richard- dear dear! I don’t see any where where I said “they pay off your debts for you”. My response was that these were the types of organisations to which Justin was referring with which I had had some experience with., How is that a misleading post?

Well this all seems like good advice from Terry and Michael. I think Justin you are referring to the Likes of “My Budget” and there are others out there who deal with banks for you. I looked into this as a way of having someone else do my budgeting – and book work for me. There are others – Debt Assist. I could not justify the cost – something…[Read more]

Hi Everyone,
I KNOW this is all a looong time ago! I searched Whittlesea and came up with these responses on Mernda.
Gee how living in the area makes a difference.
However, I am looking at a subdivision in the area. Yes, Whittlesea council has the highest rates but they dont seem all that much higher than surrounding councils- try Nillumbik for…[Read more]

Master Builders Association was the other body- they are set up by builders for builders really. Call Consumer Affairs- a solicitor is costly. Or it seems that this guy: Anthony – Legal Director – Australian Legal & Finance
Email: anthony@legalandfinance.com.au 1300 559 073
Web : http://www.legalandfinance.com.au “Bridging the Gap” in knowledge for…[Read more]

I did hear of a case where a property was sold – contract of sale but NO deposit was taken. This was not an auction. The buyer did not come up with the money. The place was sold again. The agent in this case was held in breach. I am not sure what happened to the buyer. The fact is that if he – your buyer does not have money- it doesn’t matter much…[Read more]

Oh,m it sounds like the rent guarantee is NRAS. Yes, usually deals like this- the builder builds in the rent on the price. I have not heard of them.