Recent content by renter

Hi Andy, Could you tell me what the current situation is like in padstow. I have a place I co-own but being interstate I don't know the area. I'm being told the area is dying with lots of empty shops. Is this true? Feel free to pm.

A friend is telling me that the area is dying, many empty/vacant shops, businesses are struggling, property values are diving fast etc. Is anyone here from padstow and can tell me what's been happening with the area? ie. both residential and commercial.

Just wonder what the commercial market is like in sydney at the moment? Are properties selling? Is there much demand?

Point taken and understood. Some people like to start small and build up changing places every few years or when they can. I however, hate moving around. I want to buy something I really like and be settled for a long while.

The best I could buy now would be either a very small (run down) place in the suburbs I like or a larger place in the outer burbs where I don't want to live. If I did that, I would only be able to rent a place equal to what I buy. Plus I would be reliant on the IP place being tenanted to pay...

Two of the owners are very wealthy and won't need to borrow. If they choose not to then fine. I will just have to accept that. But to not even get a reply to my question was kinda disappointing. Perhaps. The place is interstate so I'm only going on their recommendation and that of the agent...

I haven't rejected anything. You seem to be making this a bigger issue than it is.

Not should, but could. If someone is in a position to do someone else a favour and can afford it, then it would certainly be greatly appreciated. As I said before, if in their position i'd have no hesitation to help someone out. And as an ongoing concern, less owners is less hassle. They're...

If that is your interpretation, then you have it wrong. I never said they were nasty or bad. I am merely pointing out that they are in a position to do me a big favour and lessen the hassle of the group ownership. I know if I was in their shoes, I would certainly do what I could to help a family...

I don't know about that. I guess a mortgage broker would have a better idea. I really don't want to take out a loan. I have enough already to buy a place...it's just not in the areas I can afford/want. By selling the commercial property, I would have a bit extra and it would make the difference...

Yes getting rent. Hold out?... prefer not. Even if the market goes crazy again like it did in 06/07, I don't see the property getting a huge increase in price... (the area does not attract high pricing from what I know). The difference to me would be minimal as I hold a smaller percentage of...

I never said that. The reserve price is extremely fair and I would be happy with that or near it. For them to buy me out (and the 4th co-owner aswell) would cost the other two wealthy owners next to nothing. There would be less hassle for them in controlling the property, disbursing the rent...

Sorry don't understand what that means. If we got the reserve I would accept that. Tenant has a lease. Rental return is slightly better than bank interest/deposit or on par. Lump The other owners know what it's worth.... To answer the first question, I don't know. Whilst I haven't...

Tenant is a struggling small biz. The problem is lack of buyers and also the fact the other 2 co-owners don't want to buy me out even though they could easily. Even more so.

How do you force a sale when there is no buyer interest? Admittedly I don't want to sell it dirt cheap either. Buy them out?... No I can't.