Forum Replies Created
Exactly
[hat]
Originally posted by Celivia:Does anybody know whether smoke alarms are relatively safe? There was some hype surrounding the radio-active nuclear waste in smoke alarms some years ago, and I haven’t really heard any follow-up on that.
Battery operated smoke alarms are TOTALLY safe.
I dont know about raidioactive ‘waste’, but there is definately a radioactive component in them.
However, the amount of radioactive material in a smoke detector is about the same as what you would find in an LCD watch. Dont stress. Unless you enjoy smashing things ap to find out how they work you have nothing to worry about.
Dev* [kid]
Originally posted by Wylie:We have wired in detectors in IPs and also at home. In our two previous PPOR we had them linked to back to base alarm systems but this time we were advised not to (by the alarm company). Apparently there are so many false alarms that the fire brigade has the option of charging for the false alarms. Charge could be several hundred dollars per callout, if imposed.
I work in the security industry, if your security company told you that I would ask them to put it in writing. What a joke, telling you that something they sell isnt going to work as its designed to!!!
The best way to have smoke detection in a residential property is to have a Photoelectric Smoke Detector installed, and connected to your alarm system which is monitored back to a Grade A1 Monitoring Centre.
Why take a chance? A battery operated smoke detector (should) if you remember to replace batteries, wake you up in the event of a fire.
Having a smoke detector connected to your alarm system will ensure the smoke detector is not only monitored, but also running on mains power and has a battery backup also. In the event of a fire, it will not only set off the siren sound from the detector itself, but will also sound a pulsing sound from your sirens on the alarm system (much louder) and will have a pulsing sound to advise neighbours.
Hopefully this will save you and your familys lives, but if you are NOT there, it may save the house (or most of it) if the fire brigade can attend fast enough after your security company advises them.
The reason the fire brigade ‘may’ think twice about coming out is because YOU (the general public) havent maintained the system and it now false alarms all the time.
For a few bucks on a decent alarm system and a good monitoring company you could save you, your family and your house.
As for your IP’s, install a basic alarm system for your tenants. Install a smoke detector and have it connected to the alarm. You wont have to worry about who replaces batteries, and the option to have the system monitored is up to the tenant (at their expense). A decent system should cost you around $1000 – $1500 (though there are cheaper, less reliable systems out there!). Your tenants will love the security and will be happy they have a ‘decent’ smoke detector installed.
Sorry, but my company does not do residential alarm systems so I cant help with getting an alarm installed, but if you have any questions feel free to ‘fire’ away so to speak…. [grad]
Dev* [kid]
Allan,
Very sorry to hear you are in this situation im sure our thoughts are all with you. I hope it all works out for you. What goes around comes around, and if these people do end up getting away with this they will get it back on them some day…
Any notes you can take down with dates and times of conversations, names, events etc are very important and I would definately seek legal advice, but dont let all this get you down at the moment. As people have said, you dont know whats in the will just yet. Wait and see, dont stress about it too much. (If you can try)
When you know, then you can deal with it as it happens.
Try and stay positive, and think that as bad as things get, there are people still worse off than you. Keep smiling and stay in touch with us here on the forums and let us know how things are going…
All the best mate
Dev* [kid]
I like the area, though. Long term it will be great (when its finished)…
There are much better places to buy for investment, but as I said its a nice spot, close to everything and if you want a new property close to the city, and are smart with your purchase you could get a great price from a motivated vendor… You may have to have a lower rent for 5 – 10 years until the area is in demand and for serious investors, this may just not make financial sense.
Then again, many investors buy with their hearts and not their heads. Some just buy and hope for the best! [laugh2]
Dev* [kid]
TMA,
I live in South Yarra in a 5 bedroom house which I signed a lease for $560 per week. I rent out 4 bedrooms and have flatmates paying a total of $560 per week, therefore I do not pay rent and I do not have a PPOR mortgage to pay. The best thing is my dog and two cats dont pay rent here either and my flatmates are happy because its a great location and all of the furniture is already here (including my big screen) [grad]
Dev [kid]
Originally posted by TMA:In devil’s case, it was a completed renovation causing the valuation to include the improvements to the property instead of land only.
Actually, the renovations are STILL nowhere near completion. I did, however have the following done to the place between valuations:
-Second Hand Kitchen $300
-Second Hand Hot Water System $230
-New toilet package $79
-New Vanity Unit $180
-New Shower Screen $360
-New Taps for kitchen & bathroom $140
-Plumber $600
-Electrician $400Total invested: $2289
By the time the renos are completed I would expect to have spent around 7k all up.
The best part about this deal (apart from Bankwest helping with the finance) was that when the bank came back with the low valuation the first time, I went back to the vendor and asked for a discount or I would have to back out of the deal because I would have to put up a bigger deposit. Since the property had been on the market for a while I had already got 15k off the purchase price (275k) but the vendors then offered me a further 5k discount! So for 255k, I figure that the 5k went towards the renovations so in the end the renos will cost me around 2k from my own pocket.
As for your other questions TMA, I have four properties.
Where do I keep my money? I have two different high interest accounts (paying 5.45% and 5.65%) until I decide to buy again…
Dev [kid]
EG, my sister is 19, lives in WA and wanted to buy a property in WA, I told her to use a good mortgage broker (Terry W) but unfortunately Terry could not ‘work’ in that state as he is from Sydney…
[kid]
I think there is a different licensing system in WA (or something) so whilst you can buy property in other states through your broker on the east coast, to buy property in WA I think you have to use a WA broker that is licensed to work in that state.
Can anyone confirm this?
Dev [kid]
not sure what half this stuff means so cant help sorry… [grad]
Can you expand on what you are looking for?
a survey from this website?
[gossip]hehe [kid]
Hi CME
Cashflow +ve, or -ve shouldnt matter, what you really want is an accountant who knows PROPERTY in general.
I live in Melbourne now but my accountant knows property, is very reliable and is very honest. He isnt cheap but who wants a cheap accountant??? You definately get what you pay for with accountants.
His details are:
Alessandrino Scivolo & Associates
Main Street, Osborne Park WA
Neil Alessandrino
Ph: 08 9344 7799At least give him a call and have a chat. Tell him Luke said to give him a buzz, I might get 20 bucks off his bill this year hehe
Dev * [kid]
Cheers Steven
Very pleased with the result. Its not often I can say good stuff about banks so when it does happen it comes as quite a shock. They may not be so generous next time though…Yes I am based in *sunny* Victoria…
Dev [kid]
Spoke to the RAMS representative today, and she advised that it all looks pretty straight forward and congratulated me for keeping everything so well documented hehe [gossip]
I think that may have something to do with her next question “how would you like the refund to be paid?” [grad]
I asked for a cheque. She said that she had to get it approved with the national business manager first but would have a definate answer in a few days…
Dev [kid]
Interesting about the LMI refund KS, I will have to follow up, that would be quite interesting to be able to go back at them with…
The process is already underway to get it back anyways, so will see how we go. The banking ombudsman people think its pretty a pretty straight forward case so I will wait and see…
Dev * [kid]
Its an IO IP
I love investing terminology [hat]
Dev* [kid]
TMA, there was no existing relationship apart from the fact I grew up in Perth (I dont think that helped though…)
The point of the second valuation was due to the house having no kitchen or bathroom when I signed the contract. The val came back at ‘land value’ only, so once I had put a kitchen and bathroom in they came back and did a re-valuation. I paid for the second valuation and knew I would have to, but I saved quite a bit in LMI so happy to pay [grad]
As for whats so good about it…
*Easy to deal with
*Simple home loan (without ‘Features’)
*Good interest rate
*They refund your application fee ($500) after 3 years
*No hassles with paperwork or documents
*They are based in WA (wink wink)I guess each loan is going to suit each person differently, as far as ‘no offset’ and ‘expensive redraw’ or ‘lacking in features’ – these are not things which I need in a loan, so, I guess this suits me fine. It may not suit you or anyone else but I just wanted to put up a post to say how pleased I was.
The fact that they didnt charge me the LMI was the icing on the cake and for that I think they deserve some positive comments on the forum [helmet] Hey, maybe banks will realize one day that if they do the right thing by people that people will say good things about them??
Then again…………………
Dev* [kid]
Sorry TMA, I thought I explained enough about the lender in my first post? [grad] [kid][laugh2]Who else offers a Really Average Mortgage Service??
I just got a loan with Bankwest, I have loans with ANZ and RA*S too [tongue2] Bankwest have been the easiest and the best to deal with by far.
No doubt my mortgage broker agrees too it was a very easy process and have some good products right now. Might go back for another loan soon
Dev [kid]
Just a note, the original loan was signed up in 2004 which I paid LMI on as it was an 85% lend. Before I did the increase they told me it was payable on the increase amount only, as I had already paid LMI originally. The problem was that they changed their LMI companies and typically, forgot this when doing the new application. It took long enough ANYWAY, and then they forgot that the loan had two properties and they had only done a valuation on one, so they had to ring another valuer and get him back to do the second one. When the break costs are realistic I will go to another lender – these guys are useless.
Dev [kid]
Thanks for replies.
Have spoken to the banking ombudsman and they said I have every right to claim around $6500 back from these people. I dealt directly with the lender for the increase.
Will let u know how I go…
Thanks again
Dev [kid]
