We have recently gifted 10% deposit to our 21 yo son as the 3 bed duplex next to his rental came onto the market. He has to take out mortgage protection insurance to satisfy the Bank with his 90% loan but the property is only 5km from Perth CBD in amongst brand new top class homes and we felt it was too good for him to miss out on. We know his current rental will either come onto the market in the future or he will be able to go joint venture as his landlords were very upset that they didn’t know the property was for sale. We don’t expect to be repaid and are only too glad to have the means to help and know that our son is very appreciative.

If I knew then what I know now……….you know how it goes

I have received information from a very reliable big time investor that there is proposed flightpaths over Midland and Forrestfield. The plans for the new runways have been approved even though it is some time yet before they will eventuate. Midland is showing some very good progress just now but I would only buy on short term.There is still other areas to invest in without taking the risk of the runways.IMHO

If I knew then what I know now……….you know how it goes

This received this morning from Housing Industry Association,
The ALP’s new leader, Mark Latham, has released its new (and still fairly sketchy) industrial relations platform. The platform contains a number of measures which would disadvantage the housing industry, including –
Rejection of all building industry reforms;
Extending the powers of industrial tribunals, including to “dependent and independent contractors;
Abolotion of Australian Workplace Agreements;
Requiring employers to bargain in good faith with a union for collective workplace agreements, whether unions are present in the workplace or not, and regardless of the wishes of employees;
Industry wide bargaining (and therefore legal industry wide industrial action);
Removal of the secondary boycott provisions from the Trade Practices Act 1975;
Enhancement of the powers of trade unions to “act on behalf of workers generally”;
Although compulsory unionism would remain unlawful, abolition of the Office of the Employment Advocate would ensure that the law was no longer enforced.
HIA will be seeking to influence the ALP, and any future Labour Government, to consider the effect such policies would have on housing affordability and small business.

If I knew then what I know now……….you know how it goes

Derek,
Whilst ideally there should be no gardens directly on the exterior walls of any house, it can be advantageous to have reticulation to regulate the moisture content of clay soils. Walls crack when the soil is dry and then drenched causing expansion and can occur with normal climatic changes. This does of course then raise the problem of tenants turning reticulation off to save on excess water charges. One house we fixed had cracks large enough to put a hand through following 24 hours of heavy rain after a long dry spell. If reticulation was installed this would not have occurred.

If I knew then what I know now……….you know how it goes

Once cracks are remedied, either make sure that no drains, gardens etc are near the building or have reticulation going year round to keep the soil moisture content even. We have done heaps of this type of repair work through our business.

If I knew then what I know now……….you know how it goes

Redwing, It was on…Channel 7…6.30 program (the one after the news .) Sorry you missed it as it was terrific to see not only Steve and some of the MAPers but to see a program that was not hellbent on ripping shreds off anyone who was having a go and succeeding.

If I knew then what I know now……….you know how it goes

I can hear my heart thumping but not my brain ticking[][:X]

If I knew then what I know now……….you know how it goes

Theoretically Agent’s should not disclose personal information but we know how stupid so many of them are don’t we. I once had a Commerical Agent try to sell me a private house. He had acted for the vendor in a commercial deal and was given the house to sell by a happy client. As the house was untidy, the embarassed Agent told me the vendor should pay for the pest report and to clean up the yard and this that and everything else including long terms for settlement and only $100 deposit. He also told me the vendor had purchased a commercial property and really needed the funds to pay for his new purchase and just could not possible hang onto this house. It was a good buy that was only messy but quite sound on a development sized block but I didn’t go ahead as it would have been a no-doc loan that would have restricted my future development. I’d sure call that Agent again for possible purchases.

If I knew then what I know now……….you know how it goes

These days there are implications with insurance as well as the requirement to have a licence for the building works. If a property is sold while building works are not completed, a new licence (possibly an owner builder licence) is required prior to any further works being undertaken.

If I knew then what I know now……….you know how it goes

If you can afford it comfortably Luke, the beach will be better long term. When you turn 33 you don’t want to say “if only I bought that beachside property 10 years ago”. The cheaper areas do have some positives and are not too negatively geared but you just need to look at beachside prices in the eastern states to see what you may get here in time to come. I’ll stick to the cheapies as I’m quite a bit older but also wise enough to know what debt level I can sleep with. I also have a couple of tricks up my sleeve that will see good returns by time I’m ready (able [] )to retire.

If I knew then what I know now……….you know how it goes