CIP Worth considering or look elsewhere?

[Bird Dog]

Don't ever bother taking too much notice of "quoted" $p'sqm rates from agents on a vacant property they are trying to sell you.
Only ever go off your own research and then shop that figure around to other agents in the area before making any offers.

If we took any notice of the agent on our last CIP (who quoted he had two rental offers in contract form) I'd be sitting at a cap rate of 10.5%.
Instead, I knew the market rate, shopped it around with other agents and THEN lowered it a little more just for a safety net.
We ended up with a tenant paying a little under 9% which I was happy with but nowhere near the extra $15,000 a year the agent supposedly had offers for.

Keep doing your research EV as there is still much to learn..
cheers

B.D

 

[emptyvessel]

Thanks to all, sage advice.

Must admit, it has been a fun thought exercise so far. Know a few more things to do and look out for. Step by step.

Have a great weekend,
EV

 

[Piston Broke]

Damn, if only we could use your powers for good instead of evil, the world might be a slightly better place. Very disappointing human being.

We are "evil capitalist pigs".
If your neighbour came to you and offered his house for half bank value, you would take it and brag about the great deal you got. You would not think about who went bankrupt and who would be left in the gutter.
If you could buy BHP at $1 per share it would be the same.

If I had an axe to grind maybe I would tell you it's a bargain and you'd be a fool to miss it, use your credit card and borrow from all your friends and family to buy it.
Parabole: Do not turn up to the poker table without a bankroll.

PS it is amusing that a person who is suggesting fraud, lying and cheating has the gall to even type "Very disappointing human being" referring to someone else. It must be fraudsters and cheaters that "make the world a slightly better place".

 

[emptyvessel]

We are "evil capitalist pigs".
If your neighbour came to you and offered his house for half bank value, you would take it and brag about the great deal you got. You would not think about who went bankrupt and who would be left in the gutter.
If you could buy BHP at $1 per share it would be the same.

If I had an axe to grind maybe I would tell you it's a bargain and you'd be a fool to miss it, use your credit card and borrow from all your friends and family to buy it.
Parabole: Do not turn up to the poker table without a bankroll.

PS it is amusing that a person who is suggesting fraud, lying and cheating has the gall to even type "Very disappointing human being" referring to someone else. It must be fraudsters and cheaters that "make the world a slightly better place".

Which part of "take it elsewhere" confused you?

 

[Piston Broke]

It's a public forum, which part of that did you not understand?
Deal with a different view and get over yourself.

 

[emptyvessel]

It's a public forum, which part of that did you not understand?
Deal with a different view and get over yourself.

I am both flattered and amused by your attention. Keep it coming mate. I keep checking in now just to get a giggle on what you post next. This has officially become a sport.

Do you have a newsletter or blog I can subscribe to?