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Gday Tom,
Just have a crack at fixing it yourself!! Sorry couldnt help myself. First if the cracks aren’t too big try No-More Gaps. Just squeeze it in there & wipe it smooth with a wet rag. For larger cracks in Brick or Stone get yourself a pre-mix bag of Mortar mix, mix it up in a barrow or bucket, till it looks like a cake mix. Brush the crack with water mixed with Semstick ( local hardware will have some). Put some mortar on a board & hold it just below the crack pressed up to the wall. Push the mix into the crack with a trowel or similar tool. For especially large cracks push some stones or rocks into the mortar when you have applied it. Smooth over with a wet brush. Another handy product to have on hand for cracks in plaster is Final Finish or Topcoat. They are both ready to use in a bucket & is applied using two flat blades.Depending on many elements from dryness, damp, high traffic area’s or just age. Tremors, faultlines in the ground any number of things could be the cause. Have a go mate you might surprise yourself!Hey Foundation..
is mrs browny here responding to your question. Basically took a months worth of full time work. And having the skills and expertise to do the jobs required. This is our fourth house worth of complete renovation, (structurally as well as cosmetic) so we are getting quicker and more skilled. Oh and it was woman power as well as man power!!! We are planning to sit tight on our properties at present as we see this as a long term investment. However if it would suit to sell then we would. As far as moving towards living off of this pasive income, we are trying to remove the small home morgage we have and lessen the current loans we have on investment properties whilst still aquiring more. At this stage we are looking at a five year plan to be able to reduce the hours needed at paid work, but that might lessen if we are able to build our equity at the rate we currently have. If we were to sell we would currently clear $40 000 as we still have $10 000 floating unused on this property. As far as going big no we are quite happy on the angel islington side of the monopoly board.
Gday again. Good stuff Nicko, thanks. I enjoy the opportunity to divulge in these matters with PEOPLE IN THE KNOW, & is always interesting reading the different stories & situations people find themselves in. Fixing houses Im good at, conversing on the computer not so good! Reckon I’ll leave it to the EXPERTS as it is time consuming stuff eh Marc? Nevermind! CSI I wish you well with your endevours. To other Esteemed forum Contributors my aplogies for dirtying an otherwise usefull tool with Attitude! Guess its just part & parcel with Blue Collar Middle Class types as myself!
Gday Re Off Topic Marc.
Get off your computer mate & get out in the real world! The way in which we have made such profit is the original purchase price of the property being below the market value to begin with. Secondly we have aquired the skills to perform said tasks through perserverance, learning & persistance. $40,000 may not be enough for a deposit in Sydney but in sleepy South Australia you would discover that enough for maybe 10. More examples are the first property I aquired at a price of $48,000 in 2000. Within 3 years the Council Valuation went to $73,000. I quickly set about re-financing the original loan for another $20,000. With that I PAID A BUILDER $8000 To Re-Roof the house with new Verandah,gutters & fascias. Paid for paint & other materials including Beer & BBQ’s for mates lending a hand. In 2006 I sold that Property for $147,000. The first Investment Property my Partner & I aquired for $75,000. the original loan for that Property was also $100,000. It needed extensive work to wet areas which consisted of completely ripping up the foundations with a Jack-Hammer that we hired for a day & PAYING A PLUMBER to re design & install waterpipes & runoff. New foundations were laid by a CONCRETER & the new Framework for the building was constructed by a BUILDER with my assistance. Weatherboard Cladding was used on the Exterior which a mate & I fitted also cement sheet on the interior. After painting the building inside & out (a monkey could paint marc!) total cost of reno was $20,000. The new Bank Valuation ( less than market value) was set $137,000. $37,000 of which consisted of Equity in our next loan for a Property purchased shortly thereafter. All the houses are rented out & paying for themselves. So Marc for this OFF TOPIC it seems to be working well for us. Not all number crunching, it actually means getting up from your computing machine & getting your hands dirty!!! ONYA WALLY!Gday, My Partner & I recently bought a property for $79,000. we borrowed $100,000 spent approx 10,000 which included a very small wage for our labour. This amount paid for paint interior & exterior, tiles for bathroom & kitchen, new tapware & also new carpet throughout. When the reno is complete we hope to have taken the value of the property at very least to $130,000. A new Valuation should be carried out immediately to provide to your bank / broker with your next application for Equity loan. The loan we have set up is an interest only payment that the $150pw rent covers & some, fixed for 5 yrs. Meanwhile the extra Equity provides for your next Deposit, or remains on the balance of the loan to keep payments down. It can easily get away from you if not carefull on expenditure i’ve found. Less is more so to speak!
Gday. Yes You are right I think Devo. Five years is a long time though for the Property to “Hold Up” well. The little things add up. Lets not forget the humble Cistern on the old Caroma for which you have replaced many a rubber or washer, or worse still paid the local Plumber vast amounts of money on numerous occasions to repair! The pesky Tap that seems to have had more washers than your local Laundromat. Over five years the sacred Dunny gets more use than a shoppin trolley at the Supermarket! It could also be descibed as a “Money Pit” to the Creative Accounter! I wont even start on the cost of replacing Dunny Seats every year!!
Gday, another suggestion for flooring although is dusty dirty work, rip up the old carpet & hire a floor sander for a day! Provided its not Concrete! Any number of assorted Varnish & Laquers out there! A 6 Pack, BBQ Pack included reckon you ought get away with it under $1000. As for backyards if you take your rates notice into the Council you may find they have native Shrubs & Plants to give to landowners under a Greening Australia program or alike. if not Landcare have cheap or free Natives also. Become a Member of the Body Corp. work both sides of the fence!!
