Really like the sentiment around being flexible and creative to get a deal done, I agree, it takes looking at things in a slightly different lens to make them come together currently and I think that will continue as we get into 2025 as well.  

I work with properties all over Australia, mostly around Perth and Melb but to a lesser extent Sydney/Brisbane or any regional areas as well.

As noted, commission are always negotiable as are brokerage options (full service to discount companies that pretty much just post it on the MLS and you work with all calls, offers, etc) and an agent can go over likely net out scenarios with you and give you an idea what you likely will be able to net after closing expenses and paying off the mortgage balance. 

Either way, i always decide to buy additional properties as opposed to developing what i have, because I’ll continue having that and can do what i please in the future. 

These homes tend to individually appreciate over time and are actually not bad places to live.The places with the lot rent you have to decide if you want to be in the mobile home business and buy the park.

It isn't easy to make things pencil, and I don't see it getting much better over the next 12 months.I have changed my rental strategy to Co-Living (rent by the room).

Try to pick things where replacement pieces are possible and easy. i ill add that I put in some games we really like as a family, they went missing over a couple of months.

So if they moved in May 2022 they have been there over 2 years which means you need to give them 90 days notice of an increase of more than 5% (from my understanding if the increase is less than that then you don't need to give that much notice, but that is not entirely clear).

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

I am excited to join BiggerPockets and start my real-estate investing journey with a lot of like-minded people over here.