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Hi, Just got back from a three day break in Berrima NSW. Stayed at 'Troopers Cottage' for 3 nights and it was great. Heritage listed, low key, self cater, nice reno :) and reasonably priced at $650 for the three nights. Sleeps 6 in two double rooms, open fire, 2 bathrooms and so on. No...

I'm sure this is in the SS archive somewhere, but here's one for those managing their own properties. When your departing tenant asks for a reference, ask for one in return. Have you noticed that there is a percentage of potentially good tenants that will only deal with "professional"...

Hi all, IMHO the RBA has achieved one of it's stated objectives which was to bring/pull the housing/IP market back into line. This is something they have been sabre rattling about for some time but the small rate rise last month I believe has done the trick. A quick poll of the agents I...

Hi all, Yes the market is slowing - nothing new there - but I have noticed that the houses that are selling for top dollar and fast are those that are fully renovated. The emphasis is on the word fullyand at top dollar! This doesn't apply so much to reno/holders but to reno/resellers...

Hi all, This week a friend exchanged on a property 780 acres 30 mins to Canberra. The property has 8 titles ie. can be subdivided into 8 individual blocks. The estimate of the sale price of the individual blocks is to average at $350k. So a gross realisation of $2.8m. What would you pay...

False Expectations Appearing Real Fantasy Experienced As Reality Any others?

Hi all, I saw a good looking face lift that most DIY people should be able to do. It was 6mm fibre cement flat sheet glued and nailed to a 70's mission brown brick, this was then painted with an exterior grade paint with sand mixed in. Close up it looked like a professionally rendered wall...

A friend sent me this and I thought you might enjoy the English language as used by tenants. The toilet is blocked and we cannot bathe the children until it is cleared. I want some repairs done to my stove as it has backfired and burnt my knob off. This is to let you know that there...

One for you Rolf, Thinking outside the square here :) Lets assume the investor comes to you with $5m in property and a 40% LVR. Rental income = holding costs (cash flow neutral). Investor has small income $30k. But if s/he sold a property (realised an assett) per year would have an...

Hi all, It's that time of the year when I forwarn my accountant of what awaits him :) This time however he told me that moves are afoot after the fiasco of certain barristers avoiding tax by declaring bankrupt, to introduce new rules/laws to parliament for approval. I believe they are...

Hi, Found an oldie but a goodie, enjoy (or weep as the case may be). If I give an orange to my friend, I say to him, "I give you this orange." If a lawyer does the same, he says it as follows; "Know all men by these presents that I hereby give, grant, bargain, sell, release...

Hi all, Did anyone do the Ed Burton 2 day seminar in Sydney at the weekend?and how did you find him or the seminar? regards, Michael Croft

Hi all, Meet someone awhile back (a property manager) who had a fantastic tenant in one of their properties. Unfortunately the landlord was a bit of an outlet for raw sewage. Story goes like this; Tenant moves into new property with no garden, lawn or carpets (in the ACT floorboards are...

Hi All, Last of the Mohicans in this area! Property for sale in Ainslie ACT, approx 1km to CBD - prime growth area undergoing 'gentrification'. Block size 1470m2 approx. cul de sac location rear facing solar north. Improvements are a 200m2 home with 3/4 bedrooms lounge, sep dine...

From: Michael Croft Here's one to tickle your fancy. Last year I helped some friends develop a property, finance was secure by mortgage (housing loan with redraw) over a residential property value $400k and the new aquisition to develop at $350k ($890k developed). So the development goes...

From: Michael Croft Just a quick one on how the game can be played when you are confident of your market knowledge. In November last year this particular property (suburban fringe) was valued at $440k by the banks valuer for the other potential buyers. Yes I had been talking the value down...

From: Michael Croft Hello all, No I am not back to offend you all just yet but felt an explanation was required for my absence. Two years ago one of my advisors, originally a mentor and then friend, was diagnosed with cancer. He went into remission then relapsed about three months ago - he...

From: Michael Croft Hi All, I'm back on line after an enforced absence due to telstra/isp/modem issues. Firstly a big thank you to all who came to the reno talks and gave feedback - ALL feedback is welcome! An apology from me for my enthusiastic defender in earlier posts. The person is a...

From: Michael Croft Hi, Someone asked about the auction I was going to bid at on the week end but I can't find the original post. It is a block of 4 unapproved units, well 2 are approved the other two are not. Address is 84 Dryandra Street, O'Connor. My pre auction estimate was $430 -...

From: Michael Croft Some good news for those borrowed to the hilt! Michael Croft No push to lift interest rates soon Daily Telegraph 04mar02 MORTGAGEES rejoice: the Reserve Bank is unlikely to lift interest rates after its board meeting tomorrow. In even better news, monetary policy is...