Forum Replies Created
Hey
Had a similar experience recently where i couldn’t find out from the owners or agent if the property had illegal building works (i.e garage conversion to living space) ended up getting the owners written consent and launched a GIPPA application to council (generic GIPA Access Application Form to request information) and they called me, emailed me the file and didn’t even charge me for it!
Got the info i needed, peace of mind is key when buying bricks and mortar.
Cool, thanks Terry
I will reach out to you when the time comesCheers
IanThanks for the advice Corey
I am the middle option (fixed hourly rate with no guaranteed hours, paid to a TFN as an employee NOT an ABN).
I am basically a freelancer. Can your company help me out in this situation, if so what do i need to provide as a starting point.
Best regards
IanLike it, thanks Terry
Scott
I like it, good call.
Hi posters
Just an update to my tenant problem. Called an agent that I know and respect last week and got the ball rolling on getting a PM in place
for my IP.
EVERYONE gave me the same advice and have finally taken the appropriate steps, should get the paper work through by next week. Detaching myself from
the situation as best i can! never intended to self-manage in the first place, just happened. Will NOT do the same mistake again.
Cheers
Ian
Hi all
Appreciate the responses. Have been thinking of a PM for a while now, as usual there is always something getting in the way (me).
I just found out they have been very sick and have been unable to work (so I've been told). Previously they paid in 4 week blocks to get back to square, but all to in-frequent and late.
Don't have LL insurance just building insurance, I should check my policy as it is with GIO who seem to have good coverage…
Been promised some funds next week by tenant, then will actively seek a PM and hand it over.
Been looking to sell for a while, not because of this but the so called up-coming boom, cash out and make better use of my investment capital elsewhere.
So having a PM manage the last 6 months or so before selling could be very useful!!
All part of being a landlord!
PS Good point made grant, how much stress or guilt has it caused. That is a non financial question that often gets missed.
Bought an IP in Melton South in 2008 for $200k, now worth $260 so say by the REA. The people who made money were the ones who bought at around $160k and sold quickly for around $220k a couple of years later. Agree it is not a worthwhile investment, will be selling early next year when my loan gets off fixed rate (another mistake i made).
Will make a very small profit, but will definitely get out and invest elsewhere.
As far as the area goes, really down to earth people who live there.
By the time it gets good growth my kids will be retiring, and we don't have any yet!!
Hi Ben
We bought it on Trading Post, cabin was in Newcastle, we are in Sydney so not too far to go.
If you need more information on this PM me and i can give you more cost breakdowns etc,
Golden rules for this type of project
Cabin/GF 3.4m wide max, will go onto a flat bed with no police escort required.
Side access at property 4.5m min, for the truck/crane
Location of sewer/stormwater channels, this is crucial!!
Site analysis, know location of overhead cables, trees, stumps, side access, slopes, drainage,
Hire an architect / surveyor / expert to do a site reckky, well worth the money in the long run
Hope this helps.
Ian
Hi
My creative project was at the end of last year and well not so creative as some suggestions on this forum, it was to me.
We bought a relocatable cabin for $16k along with all the costs involved to install on my IP site (TOTAL $36k) and we rent it out currently for $200 p/w along with the main house. A dual occupation project.The creative part for us was getting the existing cabin onto the site as we had no side access and surrounded on three sides by neighbouring properties, we ended asking the back neighbour if we could drive an 18 tonne truck through his property in return we would erect a new fence at the back (falling over), mazingly he agreed and could not be more helpful.
Sometimes people are amazing when you give them a chance!
Cheers
IanNot sure if I have ever seen so many comments for a subject in such a short space of time.
If this so called guru or proclaimed investor is not what he makes out to be then he deserve a blast from everyone on the forum, more to the point we should name and shame all these spruikers (not saying this guy def is) and create a comprehensive list of all the bad eggs out there so that we as investors are well aware of those whose prey on vulnerable people.
I know investors need to use due diligence but a slick marketing and sales pitch has most of us onside, remember these people are TRAINED TO SELL TO YOU!
Lets name and shame those companies (or give clues away as to their identity) we have dealt with that have offered very poor service, let us down, lied to us or just plain pulled the wool over our eyes investors need to look out and warn each other of potential bad eggs.
in my opinion there are no secrets to property! the numbers do not lie, people do!
Hi there
Depends on where you are in Australia
For quality and price there is Hi tech homes in Sydney – http://www.extechconstructions.com.au
There are a host of different options available, there seems to be a glut of cheap modular cabins being made in QLD and VIC,
Illawara region there is http://www.isfhomes.com.au
In Vic there is http://www.northeastcabins.com.au/North_East_Cabins/Welcome.html
these guys are very reasonable on price.Most of these suggestions are granny flat type relocatable homes, Hi tech home do both.
There is also drake homes who sell whole houses and relocated them, so there are many options out there, look for people
who are registered builders and who give your project a 7 year or more guarantee.Cheers
IanTry to avoid investment companies who offer solutions, they are only offering the same product, but charge huge fees.
Hi Daren
Yeah Clifton is the double bay of Bristol, without the water and glam!
Leigh woods would be expensive too, my Auntie lives in Bishopston which is a very nice and established area,
Westbury-on-trym, Henleaze, Henbury, all those areas areas are very nice.
Southmead has lots of council estates as does Lawrenece Weston to be avoided.I come from the south side of the river and prices there have even increased over the years,
you will get more bang for your buck tho!I totally agree with Richard, prices and rental yields are excellent for investors looking in the UK market.
If you want any more info on Bristol you can call me.
0402736123Depends on where you go, if you go to London (central) it is full of Ozzies!!
Lifestyle here in OZ is unquestionably better, no doubt about it. But if you are like many Ex pats the
family card has a big draw on you, even if it is used an often overused cliche it has a lot of truth to it.I would love to find a way of combining two lifestyles but I am not that fortunate, maybe this should be one
of my goals that i work on.
If you need any information on Bristol I can help you out, as i was born there and still know the area.I know for a fact that Bristol has dipped in price somewhat in the last 3 years, it is definitely a good time to
be a buyer, some areas still around 20% less than before the GFC, as ever there are good and bad places
in every city.By doing some very quick numbers for a buy to let, I believe the UK is better value at the moment, having had a big dip
in prices, the market will eventually get back up again, and the average prices are around 4/5 times the average wage, compared with Sydney, which is much higher. But compared with London I do not know that market and am sure it is more expensive than even Sydney.All the best
IanDon't be fooled by the news, the are just trying to sell bad stories and air time, was there not a collar bomb incident in Northern beaches area, my point is, there is good and bad everywhere.
In regards to Western Sydney, it is affordable, good rental yields, and the demand for good rental properties is huge, and is also a growth area as listed by the NSW government.
I am currently doing a granny flat project in Penrith and listed an ad on gumtree and had 10 phone calls within 24 hours, rental demand is strong. I myself rent in the east suburbs and invest out west, works for me because i am an average income earner, but not for everybody.
Best of luck
give me a shout if you need any info on WS
Hi there,
I have been doing some research to on the UK housing front and have found that the tenant pays the rates, and all outgoings.
A friends of mine recently purchased a house in the UK using his Australian salary to secure the loan, there website is below, but only on a 75% LVR, which seems fair is you are buying in uncertain times!!If you are buying cheaper houses threshold for stamp duty is around £150k, there are plenty of cash flow deals over there, as is always the case, due diligence is always required. Tenants can be a problem all over the world!! unless you get the right one, always risk involved as investors know only too well
I am dual citizen and i know that buying well over there now is a big opportunity for the future.
Wish everyone good luck with this strategy and would love to hear from those who have been there and completed deals.Regards
IanHi there
First take a look at the post Answers to "Where to Find CF+ Deals" by adam i think it is, he has posted some very good tips for finding property.
Good starting point grab an edition of Australian Property Magazine and in the back they list all the terminology that you need to know, i.e. cash flow positive, rental yield etc, good place to familiarize yourself with the terms used in property investing.
Look at your budget, how much can i afford to borrow but more importantly how much can i afford to repay.
Its a bit of hard question to nail down, but start off with the API magazine and keep immersing yourself in the subject and keep asking questions on the forum.But ultimately it comes down to the numbers and what you can and cannot afford.
Hope this helps, keep me posted.
All the best
Ian
