Forum Replies Created
Hi PurpleKiss,
Usually the plug holes are about 400mm apart. When you lay a floating floor over, put short lengths of floor over the plugs. It is easier to then take up these short lengths when you need to gain access to plugs.
We come across this all the time, owners want floating floor, termite plugs everwhere, concrete floor. It is easy to lay the floor and you can tell afterwards where the holes are because you take up the “short” boards at the end, and the outside long board running at the skirt.
Squirt in your gunge, and replace the boards.Alternatively, lay a perimeter board (like a boarder) then you lay the floor up to this boarder. When you need to gain access to holes, you just take up the boarders, squirt in your gunk and lay back the boarder.
So yes you can still have a timber floor over concrete that has holes for termite treatment.Regards
Afloat
Hi PurpleKiss,
Done a few (hundred) .
Putting it into writing, here goes. Easier to replace the rope.
At the inside bottom of the window frame (it will probably be painted over) there will be concealed timber “weight holes” Scrape back the paint, carefully remove the “timber plug”. Now taking this plug out allows you to remove the rope and weight, but first untie the rope from the top of the sash.
You can now pull the weight and rope through the hole you have exposed and replace the rope.
To re-feed the rope back up the hole/cavity, stick some rigid wire say 8 gauge, down from the top, hook the rope to a small loop on the end of the wire and pull up through the hole/cavity.
Fasten the end of the rope to the sash, stick back the timber plug, lick of paint, finished. Easy. Usually takes 15 mins.
(Some window manufacturers didn’t have this “weight hole” (cheaper products)so replacing the rope is fun. Usually have to remove the architrave and fish around inside with a small hooked wire. Still can be done, just takes a bit longer. Say 20 mins.)
Happy fishing
Afloat
Hi PurpleKiss,
There’s a product called “ardit” which is specifically for filling In the “valleys” Thickness of product application from 1mm to 15mm.
Its like a slurry mix, trowel it on and it is “self leveling” to a degree. Sets harder than concrete ( well it is in some way similiar). Prep the existing surface with “bondcrete” or something similiar.
Next day you can lay whatever you like on it, marbles are a good test!
Hope this helps
regards
Afloat
Hi Waynel2,
When we need to demolish houses to make way for new builds, there are many companies lining up to do this for free.
Try salvage yards, 2nd hand building suppliers as they usually have their own team of demo fellas. They demolish the property and salvage as much of the structure as they can. They then sell it at their yard at big markups. If the structure is mostly timber, demo cost should be nil.
Most demolishers need to be licenced by WHS. (need licences to tie your shoes together and just about everything else!) We’re in QLD.
Regards
afloat
Hi Peter,
From my experience investing (overseas). My area is UK. You asked about overseas investment and tax implications.
My rseponse is of a general nature, each overseas country that you invest in has its own “rules”. You would need to spend time in each area to learn more.
As Monopoly says “cross the “t’s” and doth the “i’s”.
Regards
afloat
Hi Peter,
From my experience, go to the area and spend time finding out these things. Look at the implications of being a foreign landlord unless you already live or want to live there. Take time to find accountant, solicitor, broker etc. Make sure that they are aware of “your” situation, where your domiciled, reside, and investing structure.
Once these professionals know your position they will then be able to best advise you.
Then talk to your local accountant/solicitor/broker etc and go through your new position.
I found it is very much similiar to purchasing in Aust, do your homework, ask heaps of questions to the right people, then take action when your are comfortable with the situation.
Regards
afloat
Hi Huey,
Being a registered builder myself, I would suggest that if you use a building inspector, ask if he/she has come up through the trade/s (either bricky or chippy) or is he/she an inspector come through the “paper trade”.
Sometimes it helps to have had “hands on” experience, especially with how the “cracks” come to.
regards
afloat – head above water
Hi there nathfromperth,
London in July, at least it will be a touch warmer than usual I think.
It is very similiar to purchasing property in Aust. Equity to purchase property works well in both countries. Just go and soak up information that is relevant to your needs/requirements.
What I did , before I went to UK, was write down what my objectives were. How much time did I think I was going to need and where was I going to spend my time best.
Much similiar to researching a new area in Aust.I found I spent quite a bit of my time with a referdex (street map) and working out on how to get somewhere, whether it be by car, train or metro. This took me more time than I planned, yet you then get the “feel” of the place in doing this, so it is time well spent.
You say you “might have a look around for an ip while over there”. If you haven’t already, work out at what stage you are at regarding property. Have you done the homework on your area and feel comfortable knowing that all the pieces are in place, your property puzzle is taking shape.
happy hunting
Regards
Afloat – head above water
Hi madhun,
Accounting for your trips to your investment property is a legitimate expense. Whether they be in your adjoining suburb in Aust or on the othe side of the planet (Manchester or even Iraq).
It doesn’t matter to the ATO how effecient you are in your travel arrangements (you could fly first class or economy) to the other side of the planet or you could get a chauffeur limo or walk to visit your adjoining suburb, as long as you can afford the expense. (time and money wise).
You are going to your investment property/ies to check on the running of your “business” operation. I don’t think you would “set and forget” or live in the hope that they look after themselves. Monitor and maintain.
Regards
Afloat – head above water
Hi Carlos,
Different rules for each country.
There are many properties that have CPO on them and it is a mix of private and council housing. Majority is council.
Just remembering that there are dozens of property that you could buy today for £3k, yet when you search they all have CPO’s. The gov’t don’t actually state when the property is to be demolished, yet if you look into the “big picture” of what the government are doing in that area it may give you an idea of when. Just look at areas of regeneration and this is a general clue as to what is going on both short and long term.
There are rows and rows of property just boarded up (like on Coronation St) unsafe for habitation. There are unsuspecting people being sold these properties and suffering because they don’t do their homework. They believe the sales agent and these buyers are usually from outer town.
Thats why it pays to get to know your target area and understand it fully
Regards
Afloat – head above water
Hi Bardon,
Certainly some good points there to be taken on board.
The point about the government demolishing unsafe property is very valid.
Just for others in their DD, check in the searches that the property doesn’t have a CPO (compulsory purchase order) put on it.This has been an area where many “investors” haven’t fully understood what they are getting into.
This means that even if you paid £35k for the property, the gov’t will pay you £9k, so this is where investors have come unstuck. At the end of the day they haven’t done their DD.Thanks bardon
Regards
Afloat – head above water
Morning all,
It has been at least 2 weeks since we started out on this topic and I’m interested to see how much homework has been done by people’s.
It has been good reading back over all the posts, some good comments and some negative comments.
Has anyone done some digging on the Manchester region and would like to share their finding. There was some very negative posts, was this either through personal experience or just lip service. Was there any following up of this lip service to clarify the situation? The positive posts had comments/queries that were very logical and believable. They appeared to be from property investors already holding property, and asking very simple, straight forward questions with relevance to their own positions. They seemed to know what questions to ask and from there determine if there was substance in the answers.]
Maybe the newbies and people not yet holding property( yet with alot of theory behind them) could learn from this, the type of questions that are asked that would seem legal, logical and believable.
It is always best to do your homework and become comfortable with the field your are involved in. Yet there is a point that you will go to where the next place to learn more is the “real thing”. Purchasing that first property, on the job training, that will give you that confidence and be able to put all your theory into practice!
So I encourage both ongoing thoery and practical training to everyone.
Regards
Afloat – head above water
Hay Shaun,
I’m pretty thick skinned and I didn’t think in any ways that there was an “offence” committed.
Observations are great, responses are important and freedom to information makes things posibble.
I accept your observations, and all others for that matter
Regards
afloat – head above water
Hi all, been a bit busy lately but I shall fill in on the queries raised, have had to put off going back to UK for about 2 weeks.
Melbear – It costs me approx 3k for 2 weeks – I stay with family in Chorley and have the use of their motor (but I still gotta pay $2per litre for fuel) and yes it is claimable against my property there.
For the moment I am buying in my own name, it suits me. It is also speedier to get refinanced as buying through a trust/company takes 2-4 weeks longer. Yet there is no problems in buying through either setup.Richmond/Pisces/Pulse69 – I have bought the first 2 properties after going to the area and doing some nosing around. I have done alot of research over the last 4 years in getting to know my target area. I have looked many different ways of approaching Manchester and all the upsides as well as downsides. The professional people I have in place to handle my property have been put through my “mill” and we now work as a team to achieve the best result for my situation. I am now confident in buying sight unseen, yet it is wise for everyone to be comfortable with what they are getting into.
Salubrious – is it too good to be true? mmm well the way I have looked at it is in the similiar way to buying property here in Australia. Just get to know what you are getting yourself into, understand all aspects and ask heaps of questions. I agree that there are some opportunities out there that are too good to be true, yet until some other party tells me otherwise about Manchester, to me it is a good area to pursue.
Shaun – we had a good chat yesterday and I was able to go through much more than my typing speed allows me. If, at the end of the day I have helped someone else in some small way then so be it. I’m just sharing a new area that I found and if someone else benefits, great.
Recoveryman – easier and cheaper to set yourself up for the UK to then be able to but property. This has been gone over in earlier posts, yet in brief, I have used the equity in my home here to buy my first property in the UK. From there the UK/Euro lenders see that you own that first property outright. I then borrow 80% of the new valuation of the first property to buy my second property. Just remember to buy approx 20/30% below FMV each time to then enable the refinancing mechanism to work.(I do all the buying in my own name)
There are a few areas to get around, building insurance as a foreign landlord and applying to the tax dept for an exemption as a foreign landlord. My accountant in the UK is putting together all the necessary info for this position. They are all straight forward processes yet they need to be addresses correctly.
Refinancing is fairly straight forward, the criteria that lenders look for is 1. ability 2. willingness and 3. security
There are no problems for applying for finance as either an individual/company or trust, just the latter 2 take more time.Jimbo James – it would be good if your friend from UK could put some comments up on this post regarding his personal experiences of purchasing investment property. He must obviously be aware of the government/private regeneration programmes that have been in place since the mid 80’s.
Manchester is a very large area (approx 4.2 million people) and yes there are bad areas. Yet there are also good and in between areas. Is it not similiar to say Bris/Syd/Melb where there are all of the above. Also CPO’s property make for buyer beware.Shaun n others – nobody really knows me from a bar of chocolate, yet over time you may get to find out that I am either OK or otherwise. I’m just putting in my 2 cents worth. If it is of any benefit, good, if not then at least we are sharing information in the hope that it makes others aware of what to look for in doing their DD and becoming comfortable with there new investments.
Regards
Afloat – head above water
Hi Dannads,
Either PM me or fire away for any more general information questions.
I am going back to UK on 26th of this month. More ongoing homework to do.
Regards
afloat – head above water
Hi all,
Am off to the other side of this planet at the end of the month again.
Anyone want to get together and bang heads/ chew the fat regarding th UK ?
Still lots to learn
Regards
Afloat – head above water
Hi Kay,
Well, I’m off to Manchester again at the end of the month.
We have two deals going through at present and we are looking at buying 6 more before years end.Next year, we have pencilled in acquiring at least 10 and you guessed where – Manchester.
Regards
Afloat- head above water
Hi Dannads,
999 year leases were made available on large tracts of land, by the crown, to wealthly businessmen/industrialists in the early part of last century. Leases were offered to give these businessmen/industrialists “cheap” land to be able to build their factories and workers homes upon.
About the 1950’s the lease due payable on individual property was £2 which still stands to this day.The first property that I’m buying still has 890 years to run.
The returns are typical in the target areas according to my situation.
And yes Mini, 4 odd million in the Greater Manchester region certainly wouldn’t go un-noticed if they all went to NZ at once for a 6 week holiday, or do you reckon you could hide a few away.
And like yourself Mini, I too am not keeping quite about the oppurtunity available for others to go march forward and conquer!Regards
Afloat – head above water
Hi all,
I am not promoting property for sale, I am letting people know of an area that is very viable for positive cashflow investment.
I have been reading many postings on various forums for quite a few years and there are is so much great enthusiasm and encouragement from seasoned property investors.
Yet there is a lack of sharing where to target new areas.
I am letting people here know of where there is great opportunity, in my opinion, to purchase. I am sharing with you all.I have determined capital growth by looking at recent property sales in the areas I am targeting. Looking ahead at the target areas and the yet to be completed government regeneration gives me vision as to what I may expect for the area as a whole. Areas that have completed their regeneration, like Salford Quays, have had impressive CG’s, which when it is related back to the new areas currently under regeneration is some guide as to how this area may perform.
I am currently purchasing my first property in the Manchester region and as far as CG performance, I am going on previous sales of similiar property in the area.
I have no idea at the moment of what a ” chain set up” is.
Investing in the UK or NZ or Victorians investing in Queensland. My guess on this is that everyone has set their own guide lines as to where and what they invest in. Is it best to follow the flock? Only each individual can answer this question.
Time to knock off
Regards
Afloat – head above water
Hi Geronimo,
As you mentioned earlier about setting up a buyers agency, well we have spent many hours putting some thing like that into place. So much can be achieved in a short space of time if you put your head to it
Henry, thanks for the support, knocking down those barriers is very satisfying.
Regards
Afloat – head above water
