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Have you ever 'forgotten' that you owned a property?

Discussion in 'General Property Chat' started by Scott No Mates, 18th May, 2016.

  1. Scott No Mates

    Scott No Mates Well-Known Member

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  2. bob shovel

    bob shovel Well-Known Member

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    Especially in the electorate of "batman"!

    Good on him. These poor pollies are just trying to get a head, it's a **** job that no one else wants to do so why not take advantage. Imagine how painful it would be working day in day out all in hope of getting the best gov super deal you can
     
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  3. datto

    datto Well-Known Member

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    Well, I suppose it could happen.

    Wait a minute, doesn't know if it's neg geared? And can't live in the house because it's being renovated but the renovations haven't yet started...and it's rented?

    I wonder what his real name is. Probably getting the dole under seven aliases. lol.
     
  4. bob shovel

    bob shovel Well-Known Member

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    You don't get ahead by doing the right thing!
     
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  5. Hanison

    Hanison Well-Known Member

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    1.6% yield and I'm gonna faint.

    That front yard looks about the same size as my bathroom and do you know what $2.4M buys you here in Brisbane.

    The keys to city hall.

    Come on dowwwwnnnn.....
     
  6. Biz

    Biz Well-Known Member

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    Sometimes I kind of forget. At the end of the month all the rent rolls in and I think that is it but then another one I forgot about pops in on the 1st or 2nd. First world problems.
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Good government doesn't come cheap. ;)
     
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  8. kierank

    kierank Well-Known Member

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    Years and years ago, I was working for a State Government Dept of Housing.

    The story goes that they received an invoice for some maintenance work on a property. They refused to pay for it was it wasn't one of theirs. To cut a long story short, it turned out that it was and they paid the bill.

    So, they did an audit. The audit showed that they were missing lots of property off their property roll. By lots, it wasn't one or two; it was tens, maybe even more; I can't remember the actual number (too long ago).

    We had a good laugh. They could tell how HB pencils they had in store but didn't know how properties they had.

    One assumes it is a lot better today.
     
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    Easily done when organisations hold bean counters in higher esteem than property managers however we are beholden to accountants using property applications which are not suited to the industry but meet the accountant's expectations ie recording of transactions and budgeting which is not contract/lease/asset management.

    Some owners have varied interests in land eg stratum, easements, air rights, mining rights, covenants, licences and even rights which aren't triggered until one owner submits a DA eg: Road Widening Order and the owner then has to set back for a future road if they submit a DA.

    Other issues can be caused by Crown Land and by the land still having old systems title.
     
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  10. bob shovel

    bob shovel Well-Known Member

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    As long as the invoices were for the pollies IP's. Pay immediately
     
  11. Gen-Y

    Gen-Y Well-Known Member

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    He can't even remember his own affair.
    What hope do you think he will do for the Australian public if he was elected to be the next government?
    I am listening to reasonable reply... tick tock. :rolleyes:
     
  12. Scott No Mates

    Scott No Mates Well-Known Member

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    No one has said he's been unfaithful ;) just a bit Short(en) with the truth.
     
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  13. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    There is a certain investor guru/tv personality in Sydney who regularly forgets how many houses he has when doing media interviews...
     
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  14. JDP1

    JDP1 Well-Known Member

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  15. Scott No Mates

    Scott No Mates Well-Known Member

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    Only becomes a problem if you sell.
     
  16. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    I did forget one of my IPs, one time, yes. I was looking at my EOM bank statement and wondering who or what debited my account for nearly $2,500. I thought and thought but nothing came to mind and it was bugging me enough that I was just about to contact the bank and advise that it was an unauthorized transaction, when it suddenly dawned on me that it was the first mortgage payment on an IP I had settled on a month before :oops: (first world problems as @Biz said)
     
  17. Plutus

    Plutus Well-Known Member

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    > The property was listed for $700 a week rent on Domain.com.au as recently as January 2016
    > the $2.31 million Northcote property, purchased on December 24, 2013

    Do we really want people who can only manage to get a 1.58% yield running our country?
     
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  18. bob shovel

    bob shovel Well-Known Member

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    Neg gear while you can!
     
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  19. MTR

    MTR Well-Known Member Premium Member

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    He aint a fool.......I would rather the 40% profit in CG as this market is booming, 1.58% is peanuts in comparison.
     
  20. Tonibell

    Tonibell Well-Known Member

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    There is one I'd like to forget ........ but it won't go away.
     
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