Market Rental Review

I hate it when this happens :mad:

This thread was much better when Dazz was posting his story, others were asking questions about market rental reviews, and then Dazz answered said questions.

Then it had to get ruined, with all the "CIP-loans-are-going-to-get-called-in" / "Capital-values-to-crash" stuff

At least let us know how it turns out in the end Dazz.

Cheers, Chris
 
Jaycee....it would seem the water is boiling in WA....lots of frogs boiling slowly.....LOL:D

Take your pick
 

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Having a go at Dazz.....naahhhh!!!...is that possible....sacre bleu!! It would be paramount treason on this site!:D

I don't think anyone said anything of the sort here, everyone was discussing a different thing, one single lease renewal
 
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A good example is the shops on Bondi beach in Sydney.....shop owners over the years have has their rents raised to the point where they are paying $4-6k per month.

They're paying $4-6k per month:eek: No wonder their driving around in BMW's, Porches and Merc's. I was paying more than that in Seven Hills and Blacktown.

.... Dazz phrases his comments in a similar fashion.

Your right he does, but only when his comments are asked for.

I shall not be posting on this particular subject again.

I thought you had thicker skin than that Dazz, but I dont blame you.;)
 
Gents...don't take it personally....far too early in this recession to have your knickers in a knot! :)

The bad times are only beginning ....I relish the possibility of picking up a Commercial property or two from the receivers. ;)

With that ..I bid adieu....from this thread! :)

All the best for the future!!

I thought you had thicker skin than that Dazz, but I dont blame you.;)
 
I sure as hell wouldn't have continued say my farm thread with constant snipes like Dazz took.

I guess it just goes to show Tall Poppy Syndrome is alive and well in this country. There is something quite disturbing when people revel in the anticipated misfortune of others, however they would like to dress it up.

Unfortunately the true victims of these attitudes are those who hold them - it's all just cold comfort for the risk averse... :(
 
Yeah, me too. Very disappointing. Like as if we all don't already know there is a downturn happening in everything.

I sure as hell wouldn't have continued say my farm thread with constant snipes like Dazz took.

See ya's.
Yep, second that motion.

Would be interested in the outcome Dazzling, maybe you can PM it to posters in this thread :)
 
While i agree that the thread was hijacked by unnecessary sniping. I think you'll find the reason for it is that the sniper(s) probably feel that Dazz has been on his high horse previously in his posts and has looked down on lesser resi investors amongst others.

We are all different on here and i think there are other ways to deal with it than hijacking a thread others might find value in.

So, not really tall poppy cutting. Or possibly, not without a reason.
 
Yep, second that motion.

I would say motion passed then. Very disappointing for those who are genuinely interesting in seeing how this plays out, won't be able to.

Would be interested in the outcome Dazzling, maybe you can PM it to posters in this thread :)

If there is a chance of you doing this Dazz, it would be fantastic!

Best of luck with the tenant's response to your letter yesterday.

Cheers,
Horizon
 
such a shame about the flaming.

Its like stopping a good movie right before the climax! Now we will never know!

Anyway, appreciate the effort Dazz. and will look forward to another yarn soon. Perhaps the mods can do something about the iterant off-topic posting.

Particularly the portfolio analysis - which I personally consider way out of line (public domain or no).
 
Its like stopping a good movie right before the climax! Now we will never know!

Hmmm, partly agree. Yes, the juicy wheelings and dealings will be much missed, but I think the outcome is a foregone conclusion. Same thing will happen as does every time Dazz is kind enough to share his little hiccups. He will come out smelling rosier than ever. Guaranteed. I think it's in his DNA.
 
for those who are genuinely interesting in seeing how this plays out


The market review has concluded.


The letter was sent off.
The difference between what was invoiced and what they paid was ripped out of their Bond.
After a short while, they realised they had done the wrong thing and topped the Bond monies back to what they should be.
They eventually came back with a rental rate offer, countering my 220% proposed rental rise.
Their offer equated to a 204% rise. I was surprised it was that high.
We split the difference and agreed on a rise of 212%.
That's it for 2 years until we do it all again.


The capital value of the property should jump accordingly, but that is yet to be determined. If it does, that's great. If it doesn't, the care factor is pretty low. I'll let the experts on here who don't own any commercial property speculate on that. I can now confidently say the sky is not falling in. Great companies still have a huge demand to accomodate their staff in tip top office environments.


The rent rise achieved for this one property is multiples of what I can earn in my profession, so I am leaving the profession to become a full-time commercial / industrial Landlord.


As topcropper hinted at, he wouldn't have continued with the rubbish that has been sprinkled throughout this thread. Thanks to JoannaK and GeoffW for cleaning up the worst of it.


I tried to make it educational, but having any relevant details thrown back in my face and used against me by a twisted few doesn't engender confidence to reveal the real nitty-gritty. That's where the real learning is for these things, and once again I'm unable to share.


Thanks to those who PM'd and asked decent questions.


Time for a holiday. :)
 
The rent rise achieved for this one property is multiples of what I can earn in my profession, so I am leaving the profession to become a full-time commercial / industrial Landlord.
Fantastic news, Dazz, well done. And thanks for contributing; I couldn't be more happy for you, and look forward to continuing to learn from your experiences.

Have you already finished up at your job?
 
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