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Besides, interest is accruing on the arrears at 12%.

It could take up to three years to pay the arrears. But I'm just glad that something is coming back after everything that's happened.

It's been a long path but this appears to have been resolved, at least for now. The tenant ordered her own property inspection, and we were informed by her lawyers that the property was unsuitable for a food business, therefore the lease was void. This was a surprise to us, as we had our own...

Starter- you seem quite determined to blame the BA. It's not the BA's fault that the tenant decided to pack up. And it's not the BA's responsibility to hold my hand. The fault is entirely mine. If anything, I was a bit dazzled by those who had done well in CPs- however I wanted to put my toes...

I lay no blame on the BA. The decision to buy was mine. I based the decision on a solid lease- which is still enforceable. The matter is with my lawyer.

No update. No rent. I'm consulting with my lawyer. There's a bit of interest for a government agency to buy it, but that might take a while.

The property has been painted since the google street view. There's a little bit of graffiti which will not have much of an impact nor much cost to remove. Fungible? A new word on me. Wagga is a nice town with a lot going for it. But this part of Kooringal is not the nicest part.

We're trying to find a tenant. The leaseholder wants out and is ok to pay for the advertising. I'm happy to renovate for a tenant with a lease. There's a brand new community centre next to the playground behind. That seems to give a slightly better feel to the neighbourhood.

Zoning is mixed. Resi would be less desirable than comm in this area. At least I have the legal right to collect rent as it stands.

I used LOC. Alternatives aren't much good now that I have the property. It was sourced by a well known property investor who is a member of the forum.

I don't know how the biz was different. I must have been there at a busy time, which wasn't sustained. The second part wasn't extended past the first one year option. There was no bond (not my lease) but even if there had been finding another tenant would be very difficult.

It is a very rough area. I have posted on this property specifically because I bought it. I knew what the area was like- but the business seemed to be running quite well when I was there, and the yields appeared very good. And it was within my budget. I would not have bought a resi in that...

Here's another property, which has been sold, for discussion. It's a much smaller property than the Queensland one, so it may be in a range people could afford. http://www.realcommercial.com.au/property-retail-nsw-wagga+wagga-5835711 Strengths .Excellent positive returns .Affordable- sold for...