ABOUT LIN ANDREWS REAL ESTATE

GREETINGS FROM THE FOUNDING DIRECTOR

Lin - Photo

Lin Andrews, Founder and Group Chairman, shares……

“Our Group history goes back to 1969 when my wife (Bunty) and I sat one Saturday night free from socialising. We paused to consider our privileges….

Our questions… “How can our lives make a difference?” That night we resolved to do something very bold!

At the time of these decisions, South Australia was implementing its Development Act 1967 – 1972 and talking a lot about tourism.

We built holiday flats at West Beach and then at Grange. These were followed by an office building, a warehouse and several homes.

During those first years, we invested and established a number of companies in diverse industries but always achieved our greatest satisfaction in the property industry.

We became agents as well as developers!
As agents we had a passion to assist people who were not generally trusting of Real Estate Agents. Our Agency business grew disproportionately to our other activities… possibly because we really liked helping people.

Most people lacked confidence in their ability to invest in the future.
People were disillusioned with the repetitious collapse of other investment schemes which rose to prominence from time to time.

We resolved to assist people to own their own real estate.
Investment seminars and excellent property management services made this possible.

These residential investments became a store of wealth to investor clients and provided accommodation for those who needed a home to rent.
At a later date we added commercial property to our skill base.

Commercial property meets the needs of entrepeneurs who grow businesses and create employment.

It may also offer a higher rate of cash flow to investors who are dependant upon their rental income.

Today we facilitate employment and accommodation across an increasing number of communities, throught the provision of property management, sales and leasing services for a diverse range of residential and commercial property.

We also design and develop commercial property according to community needs.
I am increasingly convinced that principle centred economic activity is the way to meet the sustainable needs of every community. We are proud to be a part of this great economic solution.”

MEET OUR TEAM

Directors

Commercial

Residential

OUR STORY

building4

Lin Andrews, Founder and Group Chairman, shares……

“Our Group history goes back to 1969 when my wife (Bunty) and I sat one Saturday night free from socialising. We paused to consider our privileges….

Our questions… “How can our lives make a difference?” That night we resolved to do something very bold!

At the time of these decisions, South Australia was implementing its Development Act 1967 – 1972 and talking a lot about tourism.

We built holiday flats at West Beach and then at Grange. These were followed by an office building, a warehouse and several homes.

During those first years, we invested and established a number of companies in diverse industries but always achieved  our greatest satisfaction in the property industry.

We became agents as well as developers!

As agents we had a passion to assist people who were not generally trusting of Real Estate Agents. Our Agency business grew disproportionately to our other activities… possibly because we really liked helping people.

Most people lacked confidence in their ability to invest in the future.

People were disillusioned with the repetitious collapse of other investment schemes which rose to prominence from time to time.

We resolved to assist people to own their own real estate.

Investment seminars and excellent property management services made this possible.

These residential investments became a store of wealth to investor clients and provided accommodation for those who needed a home to rent.

At a later date we added commercial property to our skill base.

Commercial property meets the needs of entrepeneurs who grow businesses and create employment.

It may also offer a higher rate of cash flow to investors who are dependant upon their rental income.

Today we facilitate employment and accommodation across an increasing number of communities, throught the provision of property management, sales and leasing services for a diverse range of residential and commercial property.

We also design and develop commercial property according to community needs.

I am increasingly convinced that principle centred economic activity is the way to meet the sustainable needs of every community. We are proud to be a part of this great economic solution.”

PUBLICATIONS

 

 

One wonders the correctness of the season with the way the weather has behaved?

But that which is beyond our control is not worth a lot of contemplation… except to say that in the longer term we possibly have more contribution to weather patterns than we realise.

Another subject for another place. We will continue our discussions on Real Estate and property in general… because this is more predictable.

 

MARCH
We enjoyed great results in all aspects of Lin Andrews activities during the month of March… as has been the case since mid last year.

In writing this, I know there are many aspects of our South Australian system that must be altered if we who try to do business in South Australia are to go forward with a proper reward for our efforts… but somehow Lin Andrews Real Estate results have been great.

 

COMMERCIAL PROPERTY
Sales and leasing of commercial property in the SME (small, medium enterprise) sector has been very good to us.

Commercial and Office in the City of Adelaide has been tough and is more competitive than we have seen for perhaps two decades… but this sector is only one market.

Across Greater Metropolitan Adelaide we have enjoyed good business.

 

RESIDENTIAL PROPERTY
Residential sales have been very good with price rises occurring in many areas but other suburbs are still at the stagnant pricing levels of some years ago.

Location is very important… so is design!

If a property was purchased at a low price some years ago because it has an impediment… That impediment that caused the property to be sold cheaply then, is the same impediment that will cause it to be sold cheaply now.

Be careful in criticising the market! The market consists of astute people who are better informed than many vendors realise.

 

 

The REAL market assesses a property as to its worth and is always right.

It will not be deceived!

We have some properties for sale where price must be adjusted to acknowledge design deficiencies… whether the problem lies with the building or with the site lay-out.

Be very careful of buildings which over-view the private space of another.

 

MARKET FORECASTS
South Australia is a great place to invest in residential property!

We always trail Sydney and Melbourne in price escalation… a few years behind!

If we follow history… there comes a point when people leave the higher priced States and invest… or live… in South Australia where quality homes and apartments may still be purchased by mums & dads who want to own their own.

It also follows that we find a way to create employment… as in Defence, Ship Building, Wine Production or other Agri-Businesses expanding… and people have good reason to migrate into our State and its emerging employment.

Just buy your property now before every-one is doing it.

Commercial Property is similar… we know it is a great investment in South Australia because of the ongoing demand for leased property.

Every-one wants to buy a secure investment! – Or buy beneath replacement cost.

 

STORIES AND LESSONS
I had lunch the other day with a very Senior Banker.

We contemplated the enigmas of the property market in Australia.

How many times we have seen property in some parts of Australia drop in value to the point that big beautiful homes fall in price as owners vacate another State. At the same time a tiny little flat in another city may be rising in value because of demand and under-supply.

We agreed that South Australia is so very conservative that we do not have great highs and lows like other States… no bubbles.

Our discussion ended with his memory of his former economics lecturer;

  • Tapping on his old gold watch he would say, “This provides your safety from losing money in property.” (Time cures all).

 

  • He would then continue, “If you do not know what to buy, find some water and buy a house as close as you can get to it and to the biggest building in the area.”

 

CONTRACT PROBLEMS
Mortgages repaid but remaining on the Title.

 

When a property is listed for sale, we usually find that a mortgage is registered on the title.

We all borrow when we buy property… and many times borrow to improve the working capital on our businesses.

The vendors will say, “Don’t worry about that… we paid it off years ago and the bank left it on the title in case we ever wanted to borrow again”.

Other times we are told, “Don’t worry, the mortgage is very small and will be paid-out at the time of settlement.”

Recently I have noted two big problems.

  • SOMETIMES the mortgage is not “little” but is quite large, maybe in support of a loan on a holiday home or something else which has been linked to the property being sold.SOMETIMES the net proceeds are insufficient to pay-out the mortgage and the bank will not settle. Extra cash is to be found… or alternate security made available.Either way there is a delay in settlement which causes extra costs to the vendor… and compensation paid to the purchaser… due to the inability to settle.

Mortgages – Community Groups

  • Another scenario may occur where the loan was from a group of people who have each paid-in a sum of money… years ago… to build a Church, a Club or establish property for mutual enjoyment.As time goes by, the Community pays-back the loans and no-one makes the effort to have the mortgage lifted from the title.
    Years later the use of the building is diminished as membership declines and the committee finally decides to sell… and then the question, “How do we get the mortgage lifted?”The original members are dead or have moved to other locations… no-one is available to sign. Even one missing person is a problem.

These are real-life issues. They may cause deferment of settlement for years… and incur significant legal costs if the property has unwittingly been sold and settlement cannot be achieved.

 

Whether a mortgage is with a bank… or where relatives loaned the deposit… or a “not for profit” where well-meaning promoters of a community organisation loaned the initial capital… it matters not!

Get that title clear and the mortgages lifted while the lenders are still alive and available to sign the documents… and while they still remember that the mortgage HAS been repaid.

 

 

 

 

        

    

 

If you would like to get in contact with us, you can email us at linandrews@linandrews.com.au alternatively you can phone our office on

(08) 8234 1212

CONTACT US TO ENQUIRE ABOUT OUR PROPERTY MANAGEMENT PROCESS TODAY