Forum Replies Created
I think that just about covers it. Thanks for that.
AJBS
Is your 32% child support done through a private agreement or is that the amount assessment under the CSA standard formulae ?
You can apply to have a child support review if your circumstances change. (Ph 131141)AJBS
Santa came early for us. On Xmas eve we signed a contract on a house in Ipswich, Qld for $135000. Needs a little TLC but doesn’t bother us. Would rent as is for $180pw.
They are selling land 600sqm for $130000 around the corner and our block is 809sqm. Great dealAJBS
Love It !!
AJBS
Thankyou all for the feedback. The first time my post has reached 4 pages !! Great reading but please enjoy your Christmas and talk with you all in 2006 for an even better investing year. Ho($0 Ho($) Ho($)….[biggrin]
AJBS
We’ve been married for 8 years (4 kids)and property investing for the last 2 years. My husband works fulltime to fund the loans and I spend my days finding & fixing up property. My husband is the ideas man and I’m the detail one. Our latest reno settles on Friday so should be a very MERRY Christmas.
I agree with the others you need to talk with your fiancee on your dreams and plans for the future. Make sure you’re both going in the same direction. Also how is money to be shared, how are chores to be shared, do you want kids, where will you live ……Talk these over before you say “I do”AJBS
Any chance of consolidating and purchasing the neighbour ?
AJBS
I agree with Derek use the savings to offset personal home loan and then borrow for an IP. The bank will problably keep the mortgage over your home as security though.
AJBS
Don’t think you can go pass a lick of paint to add value. We’ve just done a reno using “Russion Toffee” with white gloss trim and it looks great. We also put down new carpet from Anderson’s in a biscuit colour with a trendy diamond pattern.
Talk to your local Council first if they will allow you to subdivide. If you go down this road the DA is usally valid for 4 years so you don’t have to subdivide it immediately but it should add some value to the house. For the kitchen consider a good second hand unit http://www.sckw.com.au
Good luck
AmandaAJBS
For a timber floor you’ll first need to clean the area and lay down masonite underlay. It comes in sheets which you can buy from Bunnings and needs to be nailed down every 20mm around the edge and then accross every joist.
If this is too hard your Lino layer can do it for you but they charge around $30 m2.AJBS
This is a clause that most developers use to secure a parcel of land and not have to pay interest. However you’ll need to wait a while. We are in the process of subdividing our land (1 into 7) by two stages. DA took 11 months and now we’re waiting on the Engineer to do drawings for the Development Permit before we can start work. So that will probably be another 6 months. It will be worth it in the end meanwhile we’re the bunnies paying the interest on the loan !!
AJBS
If its priced well it will sell not matter if it’s furnished or not. Just make sure its clean and tidy. Ask agent for feedback from inspections. What type of advertising are you doing ? Perhaps look at changing agents.
Most homes should sell within 3 months or they are overpriced.AJBS
Thanks guys it will feel even better when the contract settles in a couple of weeks. Yes Ozi we bought well but also fixed some problems in the reno that put most people off.
“Problem + Solution = Profit”
I don’t mind paying some tax as it means you’ve made a profit. Being an ex-accountant I know ways to minimise the tax bill.
Finding another deal like this will be hard but we’re always looking !!AJBS
We’ve done a subdivision like you’re talking about with a “battle axe” lot at the back. We needed a 4m wide access driveway to the back which is to be concreted the full length. We also had to upgrade the driveway to the existing dwelling. Your services should be connected first but the Council should include these details in the DA. Ask for a meeting with someone from the building development section.
Also we needed to install a fire hydrant accross the road to service the house at the rear.AJBS
I’m tired of scrolling over the RESULTS forums that I’m not allowed to access. Slows the computer down !!
AJBS
I agree, it really slows my machine down.
AJBS
Good on you for looking for opportunities. We’re in the process of subdividing a lot (1 into 7) but be warned it may take longer than you’re estimated 12 months. Our DA took 11 months to process, and now we’re waiting on the Engineer to draw up the plans for the Development Permit.
Have you added in all Council contribution fees ? They usually ask for all drive ways to be upgraded also which will effect the house.
Otherwise sounds like you’ve done your homeworkAJBS
You may be able to stop the movement it depends on the type of soil, the existing slab, drainage etc. I’d engage the services of a structural engineer to take a look. The property may need underpinning. If you’re thinking of buying it I wouldn’t be paying much more than land value.
AJBS
We’ve managed to buy to positive cash flow properties this year but we’ve needed to add value to the property first. For example we turned a 2 bedroom house in 3 bedrooms and therefore receive higher rent. You just need to be a bit creative.
This forum is packed with very experienced investors who are a wealth of knowledge.
Welcome and good luck.AJBS
Don’t bite off more than you can chew. Take small steps and learn along the way. My “job” is investing but my husband works fulltime to pay living and mortgage costs. We aim to both be fulltime investors by 2010. It won’t happen overnight but doing nothing results in nothing being achieved.
I agree with the others dont jump in before doing the research. Look at the Ipswich region in Qld.AJBS
