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Real Estate Myths

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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

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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

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  • 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%

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