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As far as I’m aware if the offer is in writing then the agent MUST present the offer to the vendor.
It could possibly be against the law to not present the offer to the vendor.
However if the offer is verbal then the agent does not have to present it to the vendor.
Somebody may be able to clarify this one for us all, and laws on this may differ from state to state.
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Could you find a place for sale with a vendor who is interested in holding some of the equity/share back? That way you don’t need 100% of the purchase price or value of the property. Then in a few years you refinance yourself and pay out the vendor.
Or possibly rent a place with a lease-option to buy it in ‘x’ years time.
I’m sure there are more possibilities, but there is two for you. Hope this helps!
Good luck!
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Lazy people who either couldn’t be bothered painting the wall or were too tight to pay a painter to do it for them!
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I got this from a google search that lead to the Bunnings website:
What is the best way to remove wallpaper without using a steamer?
There is a product that will aid in the removal of wallpaper. It is called Poly-peel, and comes in a 75g, bright yellow sachet. Simply mix the product and apply, leaving the assorted detergents and softeners to work for about 20 minutes,. You can then remove the wallpaper with a scraper. Poly-peel is available at all Bunnings Warehouse stores.
To make the job easier, you may want to score the wallpaper before application, and investing in a good quality scraper will make all the difference.
Please wash the walls down with sugar soap before you add your new coverings or paint, to remove any residual product.Learn, Love, Strive. Make a difference!
That’s fine but if someone already has found a good are to invest then these figures are required (possibly) immediately.
It also helps with learning to become better at number crunching if you know these figures on duties and taxes.
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Why don’t you get a book keeper? They can be much less expensive than an accountant, and will run your books with an accounting software package for your accountant. Just a thought…
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What do you want to do? You have many options here!
Some that come to mind are:
You could go in with your neighbour, lodge a DA with your council and sell the lot to a developer. Cheaper and easier for you both, and possibly profitable.
You could develop the entire lot yourself. Harder and much more time consuming. It will take longer to complete, however you may have more profit at the end of the deal.
Could you buy it and rent it out. Sure this might be neg geared, but do you own your home? Could you possibly move out and rent out both and share the gearing across both properties?
Also what does your council’s DCP (Development Control Plan) indicate what can/can’t be built in your area?
Perhaps get a builder/consultant/architect to help you with some ideas…there are many more than I have just typed.
Sounds like you might be in a good position though. Good luck!
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Here are some questions I have from your information and questions. Don’t feel obligated to answer them in a response to mine, I just wanted to bring to your attention a few other things to consider.
1. Costs can vary. Better builders may charge more but you will get a better product. Cheaper homes from “Package Home Building Compaines” can cost much cheaper, but may take 2 or 3 times longer to build and the quality materials and labour may not be high. So you get what you pay for.
2. Get some plans of your construction and then get some quotes on the cost of construction from at least 3 builders.
3. Why do you say no more strata in NSW? Where in NSW are you located? Is this a state-wide ban you are aware of or is it your local government ban? Where are you getting your information from?
4. Is 9% a good return FOR YOU? What are your aims with this site in terms of profits. You need to know what you want from this to determine if 9% is good for you or not. Many people would jump at 9% while others wouldn’t be interested.
5. Finance – talk to a mortgage broker. I have noticed a few in these forums so perhaps give them a call and have a chat. Valuation can depend on a number of factors, such as the building type, location, near to shops/schools, etc, etc. Perhaps chat to some real estate agents in your area to determine what likely sale price or possible rent you could get. Valuation can be worked out from that.
6. There are plenty of good builders around. Grab your local yellow pages, make a few phone calls and get the builder’s references. Talk to their past clients and see what they say about your prospective builders.
Hope this helps!
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If I was to spend $5,000 on doing it up straight away (urgent repairs) I would try to negotiate at least a $5,000 reduction on the purchase price.
I don’t think there’s a “specific” formula – it all depends on the individual investor and the property deal they are evaluating…
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I agree with Terry.
You need to evaluate the course content and see if the cost is of value to you. Find out what the course is about – get the details first up. It might not be a good move spending $5000 on a business course when you’re a registered nurse who loves what you are doing. That’s $100 per week for a year!
Many $5000+ courses may not be of any value, especially if they hold back information and tell you that you need to pay another $3000 for another course to get further information.
But if you do spend $5000 on a course and use the information/tools/systems that you learn and make $50,000 then that may be a good return. You need to implement what you learn in the course – that’s the key!
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Start with an architect or draftsperson who knows the building zoning codes and restrictions that govern your land.
Draw up some plans to best maximise the land usage for your needs.
Lodge the Development Application with your council.
Engage the services of a builder.
Complete the development.
That’s putting it really simply! Or you could by a spec home from one of those housing-builder-package providers (you hear their adds on the radio) but beware you get what you pay for!!
You can even engage the services of a project management company to manage the entire project for you. I’ve never used them, nor no anybody who has, so I’m unsure if they are worth it.
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See if you can fine a unit near by that has an unused car space/garage.
Rent it out and pass on the cost to your tennant.
You could offer the potential tennant two options for rent. One without the car space (lower rent costs) and one with (higher rent cost).
Let them decide…
Though if it’s for a PPOR then I would look for a place with a car space. If you don’t use it you could always lease it out to someone who needs storage or a spot for a second vehicle…
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My first thought that comes to mind is can the sloping (large) block be subdivided into two properties?
As for my other thoughts on the points above:
Designers can cost extra, as many of them lack the construction experience to understand ways of minimising building expenses. Designers usually want their ideas done no matter what the cost.
If you’re going to rent it out on a couple of years then I would look at getting a draftsperson and a builder together and nut out some plans. It’s cheaper than a designer, and builders know how to minimise expenses yet still get the same desired outcomes of design. Bounce ideas around on ways to come up with great designs that aren’t going to cost a fortune!
Get quotes of levelling the block. If a neighbouring block has had something, then approach the owner/builder and ask a few questions! How did they do it? How much did it cost? Who did they use to do the earth moving? What problems did they face?
Also check with the council on the latest regulations involving water runoff/tanks/etc, etc.
You may even wish to get an inspection from a quantative surveyor on how much the likely cost is to build…
Good luck!
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Definately get the property inspection done by a builder or valuer!
You don’t necessarily have to view it yourself – and the inspection report will tell you more than you will see with your own eyes.
Buying the property can be naive/risky, but it’s been done before. Though not by myself!
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You can get construction cost reports from http://www.reedconstructiondate.com.au
I don’t want to plug them, but I have seen their reports in the past and they are comprehensive, and possibly not cheap.
For real costs though, contact some builders and see what their rates are. Always get at least 3 quotes with references.
Tip: Holiday property can be expensive, so you need to search but more importantly, you need to NETWORK with agents in the areas you are searching. Often holiday property can be snapped up well before any advertising has been thought of.
And construction costs and rates are generally the same for holiday areas as city areas. And materials can cost more as they need to be transported to your location.
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Firstly, what is your goal? What are you working towards?
Secondly, is the developing-selling-buying-developing strategy going to get you to where you want to be?
Thirdly, do the numbers on the deals. Work out the costs, possible costs, contingencies, profits (losses) and then decide which is the best way for you to move forward. Do you have to sell the 2 lower value properties? Is there a way that you can develop all three properties??
As for the mortgage part – only you can decide on what’s best for you. Perhaps you can find a good accountant/advisor if you haven’t already done so.
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Students need a safe, secure, inexpensive place to live while they are studying at uni.
Oftern many travel home during the holiday breaks, while others stay in their jobs to earn cash while they study.
Certainly doesn’t have to be flash, as long as it’s safe and secure, and has utilities.
Location can be a decision making factor for some students, as they might prefer to be closer to the campus. Obviously the closer you are, the higher the rent!
For some location isn’t important, the cost of the accomodation is. Funds are tight for students and they find creative ways of getting what they want for cheap.
You may not find specific resources on uni students ways of renting property. Each individual is different (some prefer to live on their own, others prefer to share a house with 6 others) and each town/city they are studying in can differ also (Sydney is different to Wollongong is different to Gold Coast
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Thank mortgage advisor for sharing this information!
Many of these I use, but you’ve provided more, that I have been looking for!
Great stuff!!
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Do you have open communication with your agent? Does your agent know you are unhappy with their performance?
I would “have a chat” with your agent, advising them that you are unhappy with the outcome you have received to date.
I would also make a list of rules/checkpoints for agents. This is for next time you want to have an agent working for you – you can interview agents and try to weed out better agents from the not so good agents. I would certainly seek references of previous vendors and contact them to see what the agent was like for them.
I would also make contact with other agents in your area. Should your contract become open at the end of may without property sale then you are ready to act immediately with a new agent.
There may be other possible factors that affect your property and why it is not selling. Is there a demand for your property in your area? Obviously nobody would want to buy a subdivided lot if there is an abundance of acerage surrounding it. And what makes your property so appealing?
Perhaps you could talk to your agent and suggest a better way of marketing the property to make it more appealing.
Good luck!
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What is it that you really want??
To be realistic, you need over $100K to may significant income from the stock market.
Unless of course if you want to be a day-trader, but that’s an entirely different ball game.
Before you invest in property/shares/whatever, you need to invest in your INVESTING KNOWLEDGE.
If I were you I would finish my uni as a degree will help you get a job, to earn money (and pay the bills) and then save and learn and invest.
Make sure you have a plan that includes your goals, and structure your investing so that you reach your goals as fast as possible.
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