Had to lower the rent for 12% to get somebody, and that is in Adelaide 10 km from the city in a good suburb and a brand new house.:confused:Got another property close by, the lease will end in 2 months. Not even thinking of getting a raise.
A property manager is a professional, allmost every landlord that rents out is not. To me that is the main reason to use a PM, the other reason is that I'm 14 thousand kilometres from my properties.:D
It's not that simple. You can have a LOC on that property with no intention of selling it. If the price fell as much as 50%, I think that the bank where you have your LOC will be at least worried.:(
Yep, it was in Moscow, late 1998 till the summer of 1999. Interesting times, a lot of people lost up to 60% of purchases in early 98, but some made a fortune buying a year later. :)
I will wait till the middle of 2010. Investing now is to risky. I once saw a market where prices dropped more than 50% in 6 to 9 months timespace and it was realy scary. :eek:
Thanks for your reply. I'll do my research anyway. I've bought places that were recomended, and were not. The results are more or less the same, which are good. :)