Search results

Looks like it in NSW, but fortunately in WA we are not subject to such sucky laws. Could you expand on your reasons why you think it would be a bad idea. We haven't completed a thorough analysis of the costs / benefits of strata titling as yet, so I would be interested in how you arrived...

G'day Telejazzer, Yes mate - the property was by far and away the best deal I could finance at the time. The fundamentals of the property haven't changed, so if I had a time machine I wouldn't have purchased elsewhere. You've got to understand that their are differing levels of DD when...

yes................

Leghorn, Thanks for your post, as it prompted me to pull out the Lease and re-read it thoroughly for about the 6th time now, and amazing I'm still picking stuff up and sorting it out. There is indeed a clause preventing the Landlord from strata titling the Premises, but it has the...

You're probably right Marc, but I have stumbled onto an area in which I like investing, have a few runs on the board and for me, the risks now are fairly low due to my knowledge and experience, and the Banks support me with my systems in place. It's a well known fact that once you find a...

Yes, we are quietly confident all will turn out for the best. That's what I am working on every day, so it'll be alright in the end no doubt. The land and buildings aren't going anywhere in a hurry, and that's where the store of value is.

No I definitely wouldn't IV. Have you ever tried claiming on those so called "unconditional Bank Guarantees".....nightmare.....I tried with both Westpac and the CBA. Frickin' nightmare. Westpac has no less than 11 conditions that you need to satisfy before you can extract monies from their...

No thanks chief, I never asked for anyone's help. I'm here 6 months after the deal simply having a chin-wag cos it is my pleasure and passion. I'm here getting this off my chest cos I enjoy having a chin-wag about real property issues. I'm not here having a chin-wag on the hope of...

You've got to get the size of the Vendor vs me into perspective here. They owned something like 600 shopping centres, and this little ratsnest was something like # 597 on their list. Suffice to say, it didn't get much of their attention. Little things like Leases and technical...

It's complicated mate. As shopping centre purchase newbs, we got stiffed in the Attornment letter stage and didn't know it.....and weren't smart enough to know we got stiffed. Long long long story short - Tenant (man and wife in their personal names) moved in 2005 Previous Landlord...

Yeah, there is only so much 'inflation in China' and 'employment rate in the US' I can handle before needing to talk about something real. Yeah, she's about quadruple the best money I can get as a professional consultant engineer, and right up there with a top flight QC, so not bad for...

6 months on..... Well, it's been nearly a year since we spotted this shopping centre, and just on six months of owning it. What an experience.....lessons learnt so far ; Everyone who owes us money does everything in their power to either minimise it or drag it out as long as possible...

Good questions. The key to finance is to have a great broker. Unfortunately I don't. Mine is one of those dodgy Qld boys with too much smoke and way too many mirrors. Nahhh...if you're reading this - you know who you are you little legend you.... 65% LVR was all the Bank would lend...

Hi kathryn, Obviously one needs to built up your confidences with prior successess before tackling a project like this, all the while continually getting out of your comfort zone and expanding your 'limitations'. We wouldn't of been able to tackle this say 2 years ago, but the lessons...

Hey player, We're cross posting...used 10% cap rate cos that's what the overall market would currently value the asset at. It has no bearing whatsoever to what yield the asset generates. Valuations and reality are quite separate, especially at this scale. Banks however only listen to the...

We're still nailing that number down Troggy....somewhere in the 12 to 12.5% region. Some expenses have been a shock. When you buy a place off a Vendor worth over 9 billion, it is unreasonable to expect your insurance bill to be the same.....they get a rather large discount. We estimated...

Hello Rixter. No I didn't Steve. Still plenty of headaches and dramas to go yet player before this one is bedded down fully. It's our first property to fall under the Retail legislation, and will definitely be our last. It's better than the residential legislation but sux big time...

Indeed. It has been 3 months since settlement and things have gone OK. Not as good as expected, but OK. Property came with one major supermarket, 13 speciality shops and a few ATMs, with a further 4 minor Tenants with standard 'in mall' stuff like toy rides and vending machines. All up...

Thanks everyone for your thoughts..... It's amazing what a good hard exercise session followed by a night's sleep can do to recharge the batteries. Might go scan the 'for sale' column and see if there are any bargains about. ;) Busy morning this morning. Printing off 17 invoices, along...

So, that's done. Mad flurry over 10 minutes.... Banks kept the title deed Sellers took the bank cheques I walked away with a 10kg box of Leases and Bank Guarantees Called up the Banker and thanked him for his money Called up the Broker and thanked him, but he was busy Went and...