Mate hate to admit but I am in the same boat but just not dealing with the wedding at present
I am lucky I do shift work 4 on & 4 off, basically on weekends and night shift @ work ( shhhh ) I take my lap top and do my research and search for property.
My partner has the same interest in property as I do in ‘The bold & beautiful’
But with all partnerships comes the most important thing ‘Comprimise’. This is a key factor/word/instrument can make and break.
Ok ok ok yeah I have sat down and watch a couple of episodes to see through her eyes. ( not much by the way.) But she has now taken up the book of Steve million in one year.
Futhermore she is even asking questions!
You rippa I say and yes confirmation she still watches Bold & beautiful.
But hey Rome wasnt built in a day ( she says & yes shes Italian too she knows)
Futhermore concerns can also be raised about the management rights too. I.E are they good at their jobs, is the rent guaranteed, and if they go broke or sell management rights? what else can be done with that property, zoning?
Stay with houses or units ( outside of motel style)
Seens you have just laid the turf down, now would be a good time to roll the affected area up, lay some more top soil to create a more even base.
Then roll the turf out again, and then go down to bunnings or k-mart and get some grass booster feeder.
This will stop the water forming the lake in the bottom corner ( although having your own private lake in current water restrictions isnt a bad idea, maybe even increase value to property.!! )
Bit of luck the grass will take off and the algae die off.
Thanks for the reply, I have equity in an existing i/p, but dont want to use anymore equity than I have to, naturally to keep it free for other ventures
What starts as a leak could be very much more than a comestic stain. Personally I would pay a building inspector to assess the exact cause and approx costing for repair.
Leaks in roofs can cause all kinds of nasty damage to building rafters and other structual damage.
It is upto to you if you want to take these extra costs on, which could mount up.
Did the leak come from fault in roof or pipe or hotwater system?
Play safety and have it inspected, I beleive it can help with negotiations on price
If the vendor decides to repair himself or have tradie do it, then also as for copy of the job carried out to ensure job was done and not patched.
I totally agree with Jenwren, Re: Solicitor, by chance did she go to this solicitor through recommendation of the developer?
There is no need for your sister to even approach this person.
New solicitor for a start.
Read the exact wording regarding the finance, what a developer trying to source her finances? hmm maybe he can go guarantor too
Do not start transferring money around accounts. ( to me this looks like guilt.)
I agree with Mortgage broker, wouldnt touch inner Melb @ the moment, and particularly that size.
Bit of bad luck there, but if you go through your contract of sale I’m sure you will find the relevant info in there, that you purchased a property in good faith and certain condition.
If the damaged occur before settlement I beleive the vendors are responsible for this costing.
If in doubt contact your solicitor, might be more money than its worth, but there is principle here to.
How much did you pay for the property, if to repair the damage costs 50% of your initial purchase price? ( either the demolished half the house or you bought extremely cheap or both )
Inwhich case means half your investment has been destroyed!
I would get the bank to pay for that cost or valuation for refinance, generally they waiver that, sure they will if you indicated your looking at other financial means.
It is bad they dont tell you what their value is, think they only kinda indicate if it is out by more than 20 % either way, even then its just like watching the credits of your movie, no deal hahahaha
Good luck with it.
Before you accept the offer, have u thought of approaching other lenders to see if they can match deal or better it ! You may be surprised, my bank inital offer wasn’t the best then neg time came in, very suprising how flexible they can be when the want
Excellent position to be in , did they pay for the boat in cash?
I am with Dazzling there, would love to know how they achieved it. Good reading
Sounds like part of my dream, to sail the world, one problem is I get sea sick
Well maybe just have to be like Einstein, and eat fruit in their orchid and observe them.( tell them not to worry I wont eat too much, just using them as a silent mentor )
Sounds like they have reached the pinnicle and good luck to them and best health to enjoy it.
I hear you on that point, happens is Sydney too, amount of tradies that did a no show for quotes etc etc, just meant they were not going to in line for the work
Not all work has to be done as result from damage by tennant. All items have a deprication schedule which you can download from your state tax office.
Major work such as a new kitchen can not be claimed straight away, but rather adds to the cost price of the property, thus when time to sell is added to the base price and off set againts CGT.
Certain items under certain value can be claimed immediately, other items depricated etc etc
Good advice here again all, King you seem to know abit about the owners, have you approached them directly with an offer? Maybe they are interested in doing a deal without “lucky-dip-man”, being involved.
Hmm the savings of commission has to appeal to anyone, especially if you have a cheque in your top pocket
Deb, this may be pushing the issue with them, seens it took so long to get the lease. Try and obtain the 2004 – 2005 Valuation Rate & Charge Notice, which is issued by the local council.
This should also contain information such as Site Value & Capital Improved value.
Which in your case be a good indication.
But I agree with Dazzling, definate trigger signs here, despite the impressive returns.
Have you verified the returns?