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Old 31-07-2019, 08:25 AM
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On buying real estate

We all know the three rules... position, position, position.

I would like to share my ideas.

My three guidelines are as follows.

Buy something that has been on the market for twelve months if that is at all possible.
It's hung around no doubt because it was overpriced originally and or has a major buyer objection. But often after 12 months not only has the market caught up but the vendor is ready to listen to a reasonable offer. Often these properties have the price reduced but get no takers because all wonder why it has not sold and stay clear.
Folk think that people will make an offer on a overpriced property but usually this is not the case so the property goes unsold.

If the vendor really wants to move after twelve months they can become less concerned to get "their price".

Second look for a property that is not selling because it has a major objection that puts everyone off that you can fix.

Main road property sells relatively cheap for obvious reasons but you can lessen the main road problem perhaps with high walls and good fences to keep pets and kids safe, a good turning circle and double glazing of the windows and all manner of sound proofing.

Once a fixerer upper was a major objection but these days that is perhaps not the case.

If there are transmission lines work out how to get them removed.

Houses with spiral staircases are very difficult to sell so look at these with a view to putting in a better stair case.

Creativity is required but ask what does the market dislike about this house and can I fix it..then fixed what should it sell for...but better never to sell really.

Last...think of the future..what will this particular town and street be like in 20 years..often that future arrives in under 20 years.

And remember schools play a huge part in the mind of most buyers.

So what can you add to my ideas.

Buying commercial...look for properties that have a low rent and work out how you can develop it to command a higher rent..commercial property prices are mostly determined by the return..put up the rent you mostly in effect put up its value.

I hope others have tips or stories a smart purchase they have made and the factors that put them ahead.
Alex
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Old 31-07-2019, 05:34 PM
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what a joke
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Old 31-07-2019, 07:26 PM
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Originally Posted by Ukastronomer View Post
Has it been on the market for twelve months?
If so make an offer.
Alex
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Old 31-07-2019, 08:16 PM
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Is there "Lunar Constitution and Bill of Rights"
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Old 31-07-2019, 08:44 PM
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You know I don't think there is but if you send me $100 I will draw one up and for an extra $200 I will appoint you as the King of the Moon. Hmmmm I see a internet site granting all sorts of Lunar public official positions...and I suppose as crazy as that sounds one may well have plenty of customers...I know.. better still ... areil photos showing that the Earth is flat. Looking at some of the crazy superstitious beliefs that underpin our culture, and of course I am only thinking about astrolgy,I have little doubt that there would be many folk happy to part with cash for a flat Earth photo.
Alex
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Old 31-07-2019, 09:45 PM
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Ill send you $500 if you find the diamond mine there
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Old 01-08-2019, 10:13 AM
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marc4darkskies (Marcus)
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Quote:
Originally Posted by xelasnave View Post
We all know the three rules... position, position, position.

I would like to share my ideas.

My three guidelines are as follows.

Buy something that has been on the market for twelve months if that is at all possible.
It's hung around no doubt because it was overpriced originally and or has a major buyer objection. But often after 12 months not only has the market caught up but the vendor is ready to listen to a reasonable offer. Often these properties have the price reduced but get no takers because all wonder why it has not sold and stay clear.
Folk think that people will make an offer on a overpriced property but usually this is not the case so the property goes unsold.

If the vendor really wants to move after twelve months they can become less concerned to get "their price".

Second look for a property that is not selling because it has a major objection that puts everyone off that you can fix.

Main road property sells relatively cheap for obvious reasons but you can lessen the main road problem perhaps with high walls and good fences to keep pets and kids safe, a good turning circle and double glazing of the windows and all manner of sound proofing.

Once a fixerer upper was a major objection but these days that is perhaps not the case.

If there are transmission lines work out how to get them removed.

Houses with spiral staircases are very difficult to sell so look at these with a view to putting in a better stair case.

Creativity is required but ask what does the market dislike about this house and can I fix it..then fixed what should it sell for...but better never to sell really.

Last...think of the future..what will this particular town and street be like in 20 years..often that future arrives in under 20 years.

And remember schools play a huge part in the mind of most buyers.

So what can you add to my ideas.

Buying commercial...look for properties that have a low rent and work out how you can develop it to command a higher rent..commercial property prices are mostly determined by the return..put up the rent you mostly in effect put up its value.

I hope others have tips or stories a smart purchase they have made and the factors that put them ahead.
Alex
All good stuff Alex!

To state the obvious, not everyone wants a fixer upper and not everyone has knowledge on how to make a dump into a palace. Many people like me just want to move into a nice place and either do nothing or do just enough to ensure good resale value and avoid the run down look. I.e. you're primary motive is not to make money.

So, I'd add - don't be greedy, especially when buying a nice home to live in! Notwithstanding the need to understand market values in the area you're looking at (for the type of property you're after), if you see a place you absolutely love (= strong emotional reaction, ticks most of the boxes and has no major points of objection), be assured that others will love it too. If the price is reasonable don't low-ball!! In fact, to avoid disappointment, don't be afraid to make a full price offer!

When doing renos, keep an eye on resale value and what buyers (= you) might want. Also, never invest more than 10-15% of what you paid for it.

There are usually things you want to fix to make a new home yours, so make sure you leave enough $$ in reserve to make those personal touches.

Marcus
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Old 01-08-2019, 10:44 AM
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Thanks Marcus for your input and I have to say when buying a home I totally agree... Buying here I paid so much more than the place was worth I am embarrassed to admit I did not follow my advice...but there were factors at play that prevented me from waiting for a money making deal.

Folk once would ask why I was so successful at selling houses and my reply was " Because I help them buy what they want"... It was always just a case of helping them...and certainly home buying is different to investment buying. You sortta don't make money on your home cause when you sell it to buy another you find the whole market has risen...but if you can have two it is the second that really helps put you ahead years down the track when you retire.

Alex
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Old 01-08-2019, 10:55 AM
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Well Alex I can get you, and this is no crap.

A older little 3 bedroom cottage, in Mortlake.

Massive 1100 square meter flat lawned block, massive brand new powered and concreted four car colour bond garage with roller doors, and good all round fencing.

The house has a new colour bond roof and has been rewired, two fresh water tanks and is a s pretty as a picture, I nearly bought it myself for a project, but Alice was not that keen.

The outside of the property is good, however the inside of the house needs some work, but is livable, perfect reno job whilest living there.

How much do you say, well mate it could be all yours for $85,000 to $90,000. and that is no crap

Leon
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Old 01-08-2019, 11:22 AM
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Where do I send a deposit?
Sounds most interesting.
Is it listed? Can I see it on the net.
What is wrong with it in your view?
Alex
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Old 01-08-2019, 03:45 PM
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Mate there is nothing wrong whit it, yes it needs some inside work as i said, but that can be a project as you spend time there.
The old fellow that lived there passed away and mate if Alice would say yes it would be mine now.

Talk to Jane Allen
Residential Real Estate Sales
Mortlake

Phone 03, 55993300
or jane.allen@elders.com.au

The house is 97 Boorook St
Mortlake, I am sure you can find it.

But dose that mean i have to live next to you.

Leon
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Old 01-08-2019, 05:13 PM
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Leon if it is next door to you that alone would be a good reason to buy it. If it is next door I would suggest that you buy it...I would consider a partnership. I doubt if one could go wrong with it on the face of it...why hasn't it sold in your opinion?
How much to fix it to rent it out is another question..I mean pay someone ...
Alex
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Old 01-08-2019, 07:07 PM
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Alex you may have mis understood, I do house sitting
and sit the house i am now in each year which is only 100 meters from the house that is for sale.

I do not live here permanently but do so each year for some six months.

So no, we would not be permanent neighbors so to speak.

It will sell, the asking price is $95,000, one could get it for $85,000.

Leon
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Old 01-08-2019, 10:12 PM
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Well no one lives here permanently as sooner or later we die.
Anyways not having you as a next door neighbour is certainly a disappointment.
I may make some calls tomorrow. Thanks Leon.
Alex
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Old 02-08-2019, 09:30 AM
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Alex, I bought my place in the expectation I would die there. Never expected that day to come as soon as it will though. So I bought it to live in. Not to sell on for a profit, reality is there is never a profit once every fee is paid and ironed out. Oddly I've been wondering if my life as crap as it is would be better off if I sold everything except a few small things I can put in my bag and just go bush. I wont be missed by a single person and so much intolerance I can't really contribute in any meaningful way currently. Just dont know where I would go or if i could survive trying to start a new life as someone else.
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Old 02-08-2019, 10:23 AM
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Now come on Steve you need to be more positive.
I know you have been dealt a crook hand but you must remember you are still in the game. And we all die. It's not a big deal. I see it this way. Individually we experience life as eternal on the basis we don't know when we arrive or leave...so our personal consciencenesss experiences a reality without a start or an end...today is eternal.

I would not sell up but you certainly could rent your place out and rent in some place different that appears appealing...when selling real estate as my living I had many folk return saying they wished they never moved and often these were folk who went to live at the same town they had been spending their holidays for thirty years...so because about burning your bridges..or ships.
I know it's tuff but you must count all you do have not what you don't have...For me I know I am not particularly smart and near cripple but you know that does not worry me in the least... Success is not about money either it is about being happy with who you are...here is a little trick...when you feel down think of yourself as the hero in some a film movie...that you have just been beaten up and are crawling out of a dirty dark ally knowing that before the movie ends you will beat your enemy ( well give him a severe repremand and indicate you would now like to be friends and if he even needs help that he should ask you first) and you get the girl ( again perhaps just be friends rather than have to get used to living with someone else)...
Don't worry about contributing and no doubt it is almost inconceivable how the world can continue without your contribution but heck they will have to stand on their own two feet at some stage so do them a favour and think what you can do for you.
If you decide to come up this way I can show you around but after a couple of days you are on your own...as we all are... personally I find it difficult to find what I would call normal intelligent people out there making new friends and all you are left with are ding bats who have stuffed up elsewhere and looking for a new life to ruin..besides I enjoy my own company and my little projects...but you need to be firm with yourself and interpret absolutely everything on a positive approach..I would tell my kids that and offer the example of having a shark bite my leg off and how as I crawled up the beach I would be saying "heck I am lucky he only got one".
Good luck you have much to offer here and your contributions are appreciated by many but you have to accept your current situation and focus on all the wonderful qualities and abilities you have and be happy that you had it so good in the past and most of all that you live in Australia.
Alex
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Old 05-08-2019, 11:40 AM
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Thanks for the pep talk Alex. Being positive is aganst my nature i guess. if i dont feel happy then pretending to be to me is just a lie. I am feeling more upbeat right now than when I posted. Still I'm intrigued by packing everything up and finding a new life. I guess its a romantic notion. Praticalities really make it impractical. I love fossicking for rocks etc but cant these days and I've dreamt of getting an underground hole in coober pedy where I could just spend time scraping out tunnels sideways. But then how would I pay for water/electriciyt/food etc? Still nothing I could do to be employable. Idle rich would be handy then I could work on my mineral and stamp collections. If I severed all ties though I could maybe find a better place for me, other interests etc but it'd be a step I'd be scared of without bringing parts of this life with me. I've got no real life friends left and I've deleted my few social media accounts. This is the most social place I have left. And all I can offer is mistakes to avoid for newbies. I do have some papers I'd like to have time to work on and write up, some medical, some physics just dont know. If I could get use of my arm back to get back into photography that mightbe enough for me to go walkabout and see parts of this great country I haven't seen yet. Far from other people. My experiences the past decade have little to find positive, people I trusted and relied on being deceptive and manipulative and so petty about there problems like " only being able to afford a new Subaru instead of a new Range Rover to take the toddlers to kindy ". People are so pathetic about what they consider to be supportive. I'm glad you have a better outlook and I certaintly don't wish you or anyone on this forum any unhappiness (well maybe a certain ufo spotter long ago, as Jimmy Carr put it so well "the gene pool needs a little chlorine from time to time").
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Old 05-08-2019, 12:02 PM
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Quote:
Originally Posted by xelasnave View Post
...here is a little trick...when you feel down think of yourself as the hero in some a film movie...that you have just been beaten up and are crawling out of a dirty dark ally knowing that before the movie ends you will beat your enemy ( well give him a severe repremand and indicate you would now like to be friends and if he even needs help that he should ask you first) and you get the girl ( again perhaps just be friends rather than have to get used to living with someone else)...
As silly as that sounds to many, I concur that this technique does indeed work. In this context, who is your alter ego Alex? For your information, I am "Man-of-the-People-Man", all round generic good guy...

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Alex, I bought my place in the expectation I would die there. Never expected that day to come as soon as it will though. So I bought it to live in. Not to sell on for a profit, reality is there is never a profit once every fee is paid and ironed out.
Exactly how I feel about my home. I live in a 'ghetto 'hood, but the house is solid, a good design and I like it. I have mostly great neighbours, and few problems that a tall fence can't solve (or a Chimpanzee with an AK, for that matter).

Quote:
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I wont be missed by a single person and so much intolerance I can't really contribute in any meaningful way currently.
Factually incorrect. For what it's worth, I find your posts (whilst sticking to the subject matter) are spot on, enlightening, and have solved more than a few problems at my end. I doubt I'm alone on this issue. If you do go away, be sure to bring along a laptop and 4G router
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Old 05-08-2019, 02:11 PM
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I believe I have merged my alter ego with me..if that makes sense in so far as I am in the real world the crazy mug you find here. I think of myself firstly as kind and secondly a fortunate...I believe above all I am honest with others and particularly myself...I don't look up to anyone or down on anybody and although humble am very confident in myself perhaps to the point that others think that I am up myself but I don't believe that is the case and believe any negativity they may have us their problem not mine.
I do try to be positive,and I have always been that way, and recognise that for some reason you can lie to yourself to change your outlook. When in selling and managing a small sales team we had a game where every thing one said had to be put in the most positive way possible...no dead end streets just cultural development sacs...and it does work..seeing things in a bad light is as unrealistic as seeing things as some may think in a good way...things just are..they become how we qualify them..same with people..a friend told me never take things personally...so when you are dealing with someone who is abusive for example there is no need to get upset as you are just the unfortunate person in front of them at the time but the fact is they would be abusive to whoever is in front of them...and always hold a view that you could be wring and listen to what the other person is trying to point out...I just woke up this all night astronomy has to be paid for.
Alex
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Old 05-08-2019, 02:23 PM
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Quote:
Originally Posted by sil View Post
Thanks for the pep talk Alex. Being positive is aganst my nature i guess. if i dont feel happy then pretending to be to me is just a lie. I am feeling more upbeat right now than when I posted. Still I'm intrigued by packing everything up and finding a new life. I guess its a romantic notion. Praticalities really make it impractical. I love fossicking for rocks etc but cant these days and I've dreamt of getting an underground hole in coober pedy where I could just spend time scraping out tunnels sideways. But then how would I pay for water/electriciyt/food etc? Still nothing I could do to be employable. Idle rich would be handy then I could work on my mineral and stamp collections. If I severed all ties though I could maybe find a better place for me, other interests etc but it'd be a step I'd be scared of without bringing parts of this life with me. I've got no real life friends left and I've deleted my few social media accounts. This is the most social place I have left. And all I can offer is mistakes to avoid for newbies. I do have some papers I'd like to have time to work on and write up, some medical, some physics just dont know. If I could get use of my arm back to get back into photography that mightbe enough for me to go walkabout and see parts of this great country I haven't seen yet. Far from other people. My experiences the past decade have little to find positive, people I trusted and relied on being deceptive and manipulative and so petty about there problems like " only being able to afford a new Subaru instead of a new Range Rover to take the toddlers to kindy ". People are so pathetic about what they consider to be supportive. I'm glad you have a better outlook and I certaintly don't wish you or anyone on this forum any unhappiness (well maybe a certain ufo spotter long ago, as Jimmy Carr put it so well "the gene pool needs a little chlorine from time to time").
Thanks Steve...don't let others bother you..they usually are only doing what that think is right...
I want to go gold panning here but so far I have let my legs be an excuse but I have bought some gear and I am sure that I will get to use it.

As to photography..now there is the mobile phone..sure it's not a DSLR but you can use it one handed and do some fine work..an artist does not think the his medium is poor but realised all mediums are only a road to expression..My latest project is making a unique clay chess set using clay from the side of the road..the pieces will all be different to relieve me from the pressure to creat all those pawns looking exactly the same...anyone hearing this will think I am mad even if they had not formed that opinion earlier but I bet when the set is finished it will be a work of art.
My daughter is producing incredible photos with her phone..she would not take my offer for a DSLR saying it was important to have something one hand to capture things she finds beautiful...she won a competition with a great photo taken on a small digital beating many most using good cameras..she caught something interesting which is what it's all about.
Again I say you just have to form an altitude of showing others and yourself that a minor set back does not hold you back.
Good luck and remember I am always happy to help in anyway that I can.
Alex
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