Forum Replies Created
Terry
I’m no expert but:
I think that the purchaser is directly responsible for the payment of rates.
Regards
AgeBuy new!
Never Sell!elinitha_au
The agent is out-of-line!!In my opinion.
I would contact the real estate institute in your state and ask a couple of “hypothetical” questions to get the real answer.
Then decide on what action if any I would persue.
And always offer a low bid to start with, you never know unless you do!!
Age
Buy new!
Never Sell!Oxenford!!
+CF territory ???
mmmmm! I Wonder[whistle]
AGE
Buy new!
Never Sell!Thanks everyone.
I just entered some of your formulas into a EXCEL sheet.
Now I can save loads of time!!
I only need to type
Weekly rent
&
Property costPresto [grad]
AgeBuy new!
Never Sell!Look at it this way;
You are losing $10.oo PW with your reasonable tennant.
Increase the rent and the reasonable tennant may decide to vacate the property.
The property is re-let after a 3 week vacancy @170 PW
It will take you over 26 weeks to recoup the $450.oo lost during the 3 week vacancy.
From that point on you will be ahead by $1020 PA instead of behind $520 PA [thumbsupanim]Age
Buy new!
Never Sell!Thanks Russ
I was hoping you would reply! In my short time here in thid forum I can see you konw what you are talking about
Buy new!
Never Sell!Well how about this
Double $67500 would be $135000So I would think you would need about $135.00 pw
Buy new!
Never Sell!Divide by 1000 and multiply by 2 ???
Why not just divide by 500 ???
Buy new!
Never Sell!If you do it as Dual Occupancy and you want to sell just one you would have to Strata them.
But you can just sell them both as a “Job Lot” as you would just one single house.
Age
Buy new!
Never Sell!I have been doing a subdivision in Mudgee NSW. It has been going for over two years and only just now gone to the Lands titles office.
My grand plan was to purchase 50% of my neighbours block 750sq mtrs and join it together with 50% of my block ( another 750 sq mtrs) the new block will be 1500 sq mtrs.
Giving me a 1500 sq meter block on the new street at the rear of my current ppr. where i could build a new ppr on the new block.
It has turned into a money pit
Council fees inexcess of $5000
construct a sewer line $4000 40 meters @ $100 per meter.
Connect to councils sewer main to a depth od 1.8 meters and install a “Man Hole in the road.$4950The existing road to the new block was not sealed so I as the “Developer” had to pay to seal it, as well as install kerb and guttering 40 meters. ( still waiting for the invoice for that )
The quote was just under $15000 incliding the sewer construction( $4000 above ) and “interconnecting drainage”
Lucky I only paid $29000 for the 750 sq meters of my neighbours land.
Surveyors fees $3500
In hindsight I would NEVER do a subdivision involving creating one new block. I would try to find a large block able to be split into at least 8 new blocks. this way you can average the costs over 8 or more assets instead of just 2.
Check out Dual Occupancy you may find you can save a bundle especially if you intend to keep both assets.
I have a ip in mudgee with two houses on the same title 800 sq meters (maybe 805)
I only pay 1 set of rates
Regards
AgeBuy new!
Never Sell!I have purchased a property in Mudgee NSW in June 2001 2×3 bedroom houses on a 850 sq meter block.
I paid $242500
They rent for $200 and $185 ( I put air-conditioning in one so far )
The value now is in excess of $400000Mudgee was among the top 10 in real estate growth last year ( I think in rural NSW )
Mudgee has a strong economy linked to Mining and Wine making industry.
I think Wellington NSW will soon be a good place to invest because;
There will be a prison built there due for completion around the end of 2005, The staff will no doubt require housing and as this type of employer seems to turnover staff not all of them will be buying as an ppr.
As for Victoria I cant say too much but generally look for a town or city with a good industrial employment history.
Is there a more than one large employer there ?
Has real estate been growing there consistently for more than the last three years?
Most importantly get to know the values in the market you intend to invest in.
How long does it take to sell a house there? The faster the better!
“My first post in this forum”
Regards
AgeBuy new!
Never Sell!
