Monopoly said:
Hmmm....215 is a great deal less than if you were paying commission to an agent to manage the property. But then again, I guess having "relatives" who are looking after the place as opposed to total strangers is worth the reduced income. So why are you complaining??? Because the light has finally come on (knock, knock....ahh hello....) business and friends/family is a bitter cocktail (at best). Quit whinging about being "embarrassed" and make up your mind, you are either a property investor for the money or for the fun of it, either way, determine what your goals are and let those goals dictate how you will handle the less desirable tasks required of you as an INVESTOR!!! You say you don't mind the reduced rent, yet you post about it, so perhaps it does not sit as well as you want to believe it does (honesty with yourself is a number one priority).
Let me ask you this George/Tiger, what price would you accept??? Remember, be honest with yourself first and foremost, before you attempt to fool others with your ambiguity.
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Dear GeorgeSA
1. To help me further understand you and your line of thinking better, can I ask you, "What exactly was your thinking then, when you decided to rent the house to your relative for a lesser rent from $240 per week to $215 per week?
2. Do you actually forsee that one day you are going to have this "embarrassing" task of telling your relative that you are going to increase their rent or/and even tell them to leave your house at their inconvenience time/occasion when you first decide to rent out your house to your relative for less rents?
3. Have you actually conducted your own independant research to date, as to how the Sydney property market will evolve out over the next 2-5 year time frame ( as well as the nature/duration of this property cycle trend/stage), as previously suggested by Ajax and myself when you were making the decision to rent the house to youyr relative then?
4. Did your own research shows or/and have you correctly anticipated how the market rental and house prices will move eventually when you make that decision? If yes, why then make this decision? If not, what can you learn about your own research and about yourself again?
5. Monopoly thinks that you are "complaining" about your present rent, are you?.. Do you have any difficulty staying committed to your own decision even if the decision made eventually turned out to be a "wrong" one, as in the eyes/minds of many other investors?
6. Imagine if you can re-decide again retrospectively, how will you re-decide now, knowing that the house rental market is actually on the increase, way in advance this time round?
7. Honestly speaking, what is your own thinking about involving family/relatives/friends with business deals, both before and after the a/m post by Monopoly?
8. Monopoly has suggested that " Quit whinging about being "embarrassed" and make up your mind, you are either a property investor for the money or for the fun of it, either way, determine what your goals are and let those goals dictate how you will handle the less desirable tasks required of you as an INVESTOR!!!". What do you said about that?
9. Honestly speaking, for how much are you truly prepared to sell off your property presently, having made a decision to sell your house at a loss in the past? Monopoly is also asking you the same question in her post.
10. Beside the house prices, what are your other key considerations for your house sale to effectively take place in the near future?
11. How do you think/reckon the market prices for houses in the Sydney property market, will actually move over the next 1-3 years time frame, based on what you known presently? How then will you decide?
12. How sure and how committed are you , of your own projections/views and of your own decision made subsequently regarding the house sale and the likely market movements?
13. What have you learnt from your property sale marketing experience so far?
14. Looking forward to your honest replies and for further discussion, please.
15. Finally, can you please confirm for us here, whether "GeorgeSA" and "TigeGT" is actually the same person, as some of us have previously thought so until Les "corrected" us recently.
16. Thank you.
regards,
Kenneth KOH