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Great - you just made 50k effectively!

200k house. 5% deposit is 10k. Costs = 7kish (legals/building/stamp) Reno = 9k (easily achievable if its only cosmetic) Then revalue and buy the next (or more preferably get a granny flat out the back then refinance again) Easy! :D

What I always do is find one that has gone under contract that is comparable and pretend I have just exchanged on that house (for around the same price as the real one I am trying to pursue.) And I always say I bought it for a lot under the asking price to condition them that the house I really...

I'm not looking to screw pensioners or widows etc... just other investors who need to liquidate quickly or those moving interstate etc... And the only reason I need them for such a good price is because I am on a low income so need them cash positive (which by definition in the areas I look...

I am looking for the corrupt ones who will screw their clients to get the quick sale for a lower price! I had one agent in Toowoomba tell me that I am not getting a bargain from him but he will help me 'screw every other agent in town'. Hasn't worked yet but we are a tag-team working on getting...

What are some of the characteristics of these lazy agents Lizzie? I've found if they are out of town agents, house been on the market ages, only one picture and general poor presentation of the house, not stating land size, advertising as 3 bedroom when there's a huge rumpus for example...

I do write in emails the offers. Will present offers to the vendors/solicitor's etc... if agents screw me around. Will keep offering low amounts as there is plenty to choose from :D Thanks for the help

Yes that is a big concern for me - and I suspect because my offers are so low the agents don't even present them to the vendor. i.e. the other day I offered 120k on a 155k property (and its easily worth asking price) and the agent replied NO - so I said would you mind presenting the offer and...

Well you are not trying to get an ok price you are trying to get a great price so you can get into the next property more quickly. I'd be giving this one a miss personally - maybe get a house in Emerton/Whalan etc... for 200k with reno needed and put a granny flat out the back.

Well you know where they live :p so knock on their door.

I don't think where you are buying is considered metro - but maybe I am wrong? I'm assuming around Mt Druitt - and you can get cash positive there if you look hard (often needing a granny flat out the back) How did you speak to them in the first place - do it again!

There will always be other opportunities if that's what you are worried about. I would NOT offer more for nothing. I'd go to the vendor direct and speak with them. They probably don't need as much furniture as current if they are moving into a smaller place and probably won't even want it...

Well if they paid 218k eight or so years ago 235k seems like a good buy. Then again if it is negative geared it may not be best for your portfolio. It doesn't seem to be a settlement timeframe issue but rather price due to their liabilities. Where are the couple going once they sell...