Jump to content
House Price Crash Forum
Sign in to follow this  
GCS15

Real Estate Myths

Recommended Posts

G'day all

Had more than enough to drink so I thought I'd share this qoute for you from my latest read. Real Estate Myths e-x-p-l-o-d-e-d, a complete guide to avoid gettting ripped off when you buy a property (David Morrell). I got a laugh at the Authors audacity. :) Big big dollar amounts are tossed around like nothing. This guy talks about savings that are in excess of what I want to pay when I buy :blink: Then again I am a simple man with a simple plan (ie a house a decent job and a family ;) )

A client bought a sixth-floor inner city appartment off the plan, with a rental guarantee for two years, for $430,000. After the rental guarantee had elapsed, our client was frustrated that he couldn't find a tenant, not even for a substantially lower rent than he had previously been getting. The property had been vacant for nine months - not a wonderful investment. Our advice was that the building was not going to increase in value, as it was particularly ugly and had the signs of a rental ghetto, with rubbish in the letterboxes, a messy foyer, unkempt gardens and graffiti in the car park. The client finally sold the property for $265,000.
pge 132

Share this post


Link to post
Share on other sites

I am thinking that it was Sydney. The author doesn't say.

I got a lot out of the book. As much as I am dead set against the whole "make money in real estate" game I want to learn the rules of the game so my family don't get lumbered with to much debt B)and if I can make a few bob......

Edited by GCS15

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.