Forum Replies Created
Please let us know As I am looking at one or two possible IPs and that kind of offer would come in very handy!
Was that a WA offer or is it national?
Cheers
C@34
Ahhh the old push to settle quickly as long as they are seen to be doing you the favour!
Can’t your building family mambers do an evaluation, Right now? Shurely you would be able to find out where the damage is and have your family members give you their opinion!I am thinking that you are correct! They seem to be too pushy. Would the $15K less make a huge difference for you in regards to the new investment? Ignoring the posibility that they are scaming you, would loosing the next investment cost you more than the $15K is worth? Just weigh up the pros’n’cons before deciding.
Cheers
C@34
Motto: NEVER VOLUNTEER, and a friend in need is a pain in the ass!!!!ROLFMAYO[upsidedown]
Cheers
C@34
Domo, you said that your bank charges you an extra 1% above the standard interest rate. Do I understand that to mean that your loan (mortgage) is the current % + 1%?! Just to have an off-set account?
Or Simon, … is this correct? If so, how then is the off-set account such a benefit? That’s an extra $83.33 per month for every 100K. And they make a big thing out of an extra $25 month if the interest goes up by .25%.
Cheers
C@34
Jaffasoft Posted – 29/09/2004 : 12:35:45
Has anyone Invested in a Backpackers Hostel style accommodation? For Taurests and the likes?Well that’s an excellent idea. Here in WA there is a group called Easyrider Backpacker Tours and they basically operate a touris transportation service up and down the WA coast for Backpackers. This could be another spin off of the above ideas.
I don’t have their contact details handy, but when I do I’ll be certain to PM them to you so that you can pick their brains, should you chose to develop this idea! Perhpas you can start in WA – hey, I know a Bus Contracting company over here that will, evenually, look into building a website for their business……..[blush2]
Cheers
C@34
Redwing ow did you go with this one?
It would be interesting for me to know.
Just being nosey, I guess.
Cheers
C@34
Ohhh…..argghh
I feel sick! Thanx Steve, ignor the grimace on my face! I mean that sincerely…….Cheers
C@34
Thanx Redwing,
unfortunately work committments have me chained to the proverbial work desk!
Please, if you notice more of these events post them, one day, when I grow up I’ll just run away and join the seminars!Cheers
C@34
Hi Frog2, please see below what Steve had to say:
SteveMcKnight
Administrator [1254 posts]
Posted 10/10/2004, 17:27:17Hi,
Thanks for your feedback and I’m delighted you enjoyed the book.
A couple of points:
1. The cashflow figures are ‘gross’, meaning before expenses such as those you listed.
2. The cashflow is only from property remaining at the end of the MAP. Cashflow (i.e. non-cap gains) from deals bought and sold in the 12 months were excluded.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Cheers
C@34
tonyy21692 Posted – 08/10/2004 : 18:56:59
Had you ever thought because it is illegal – even in WA…Hi Tony, we use an Offer and Acceptance form in WA. You can buy this from any newsagent for $0.50. You are also permitted to fill it in yourself – free of charge! Once you get to the point where there is agreement between the Vendor and the Purchaser, then all searches are done by Settlement agents. Lawyers only come in to explain any legal questions the purchaser/vendor might have based on the clauses or the failure to comply to them; hence my question.
Thank you for the additional info masteraccountants. I didn’t realise that things are that different in the Eastern States to us. I will have to keep that in mind when I look east for IPs.[blush2]
Cheers
C@34
Hi all,
I had looked into this, with a lot of help, but in the context of buying a douplex on a SINGLE title. See below
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=11097In this situation it was deemed to be legal.
Cheers
C@34
Hi Martine,
you are a little vague on the details. Perhaps if you’d list each individual property and its related figures it would be easier to give you an idea of what is possible. It might also pay to put this question up in the Finances area as that is what you are generally enquiring about.From what I can see, it depends on two things:
1.can you service another loan (what is your DSR)?
2. once you have the true value of the latest development – what risk level are you looking to go to (LVR of 80%/95%)?
These will affect your borrowing capacity and strategy. For example:
you wish to get ahead NOW, so you chose to go to a LVR of 95% (and pay the LMI) so using your figure:
Total $350,000 @ 95% = $332,500
less the current mortgage of $280,000
=> 332,500-280,000 = $52,500 available for further investment (less LMI).Just to give you a quick idea of how it might go for you.
Try the finance section, the Mortgage brokers are far better at number crunching and financial advice than I.
Cheers
C@34
Thanx Tools,
I must admit that at first I got ‘hot under the collar’, but then I realised that you indeed put your experience in print and that’s what this forum is all about.
I look forward to seeing how Wayne went, and I look forward to your input when I get into my PPOR Face lifts.Cheers
C@34
Thanx Tools,
Like I said to Wayne, I have been telling of what I remember of when I laboured for a tiler.If you go the other way,you will find that you will have gaps between the tile and skirt all around the room.Even “professional”tilers don’t manage to get all the tiles perfectly flat,and all it takes is for a few tiles to be slightly out of line,and you won’t be able to get the skirt to sit hard down to the tilesThis never seemed to be an issue. With the ‘Toothed’ trowel the tile cement went down evenly and, althought there is a slight difference in tile thickness, it never became so obvious that we had to alter the skirting boards to fit or have gaps everywhere! To close the gap bvetween the skirting boards and the tiles (stop water from going behind) my dad used silastic when he laid the slate tiles in our house.
Skirting on top of tiles will not disguise crooked walls.If the walls are out,they are out!Just make sure to measure and cut each tile individually if they are out.I stand corrected! Only makes sense.
Chalking a line from corner to corner will give you the centre of the room (if your room is square/rectangular)but it won’t necessarily give you a 45 degree line unless your room is perfectly square.I addressed this with Wayne ‘Off-thread’ in an email
start from the middle of a room and work your way out.However,professional tilers will rarely work this wayAs the previous point above.
If you are continuing the tiles through to other rooms,you also need to consider the cuts you will have in those rooms as well.If you are running the tiles diagonally,it is highly unlikely that you will end up with even cuts in the second and subsequent rooms.This may be true but it looks cleaner in the end in my opinion and I have to agree with the old guy I worked for, continuity makes a place look much neater. I guess its also a matter of taste. It is what I have made clear thru my posts as something I value
If you insist on using only one coat,I would add a paint conditioner such as Floetrol…you will be glad you did.Thanx for the heads up! My PPOR is due for some cosmetic surgery soon and I will put that into my chest of treasures!
With 20 years of experience in buildingWell Tools, I hope that you will be available to have your brains picked more! Renos is one wqay a lot of us make money, and in the begging those of us who don’t have the spare cashflow to pay for the services of a professional, will have to do it ourselves! Perhaps, if you have the time, you could be invited to moderate and assist in a new section of porperty improvements!? How about it.
I would seek your advice for sure.Cheers
C@34
Giday Jack,
I have no experience except that I looked into buying a house with the outlook of building a douplex out the back.
What I have learned is that separating Titles comes in two flavours, Green Title and Strat Title. Green Title subdivision is where you want to turn one large property into two properties. Strata Title is where you have your douplexes or unit blocks and you wish to subdivide to be able to sell them separately with out the physical separation (if that makes sense). I have also been told that the process can take up to 18 months depending on your local shire/Town Council.Hope that helps.
Cheers
C@34
Hi there,
just a question – could you not keep a copy of this contract on file and turn it into a ‘Template”?It seems rather sill to me to have to pay over and over again for a contract where the only things I could imagine that would change are the address, the conditions and the Vendore/ Purchaser details (I live in WA and the REAs here do the Offer and Acceptance write up which becomes the “Contract” once the vendor accepts my offer).
Any thoughts?
Cheers
C@34
AusProp,
have you ever heard of such a thing? As I haven’t. That doesn’t say it does not happen, but does a loan not come under Contract Law? Offer and acceptance? They 9the bank make the offer) and you then accept it, hence any withdrawal could have major ramafactions for the Bank as well as neg. publicity (which they sooo love).Your thoughts?
Cheers
C@34
Tony,
good way to get us involved in your post.ooops, sorry, wasted
yourmy time again.Cheers
C@34
You got my vote Yorker!
It should be a pre-requisite!
Cheers
C@34
Hi Landburn,
there has been some discusion on this in the past. The general concensus (??spelling??!) is that you don’t do it on the market value, you do it on the amount of money you put into the porperty. This would give you a return on the money you have invested! It has also been mentioned that it is not the best method for measuring your return on investment.
Be that as it may, it’s subjective and you’ll have to make up your own mind as to whether you like it or not.Cheers
C@34
