Forum Replies Created
- Originally posted by Wylie:
I find it a bit slow at times, and sometimes I just give up when a page just will not load at all. We have cable broadband.
I have assumed when a page won’t load (even though it is telling me it is loading) that there is some problem with the site.
Wylie
DITTO
Celeste[blink]
Hi all
I would suggest , you would declare / claim from the time you took possession.
reason is, when you are buying a property the ATO deem that you have purchased from the date of an offer not settlement, doesn’t matter where the title is or who’s name it is in.
Celeste
Hi ladybird
I have been getting quotes for the same Oasis Patio’s is good used on my PPOR and a good price. 4×6 carport approx $2500.00
tho if rockingham area I have another – Trojan outdoor creations.
Celeste
Hi all
How do they do it when there is a mortgage?
The bank has the title and that needs to br produced.
Celeste
Hi guys
Thanks, I only do it for the praise. L.O.L
[aacool]Quote:Originally posted by World Changer:Hey guys!
and Good work Celeste,
have you done many reno’s before? 2nd one as a full time buy,reno,sell – tho reno’d a n old victorian in melb 1988 and my 1st hubby and I built own house 2000/2001 only thing we sublet out was bricks / elec / plumb so I have little knowledge in quite a few arears
How do u go doing them while looking after yr fam?So far I have been doing it 3 days a week, whilst the little one is at school or daycare – about 18hrs a week with a couple extra 10 hr days when I can get hubby to babysit on the weekend – little one 5 dys aweek school this year – so more time
Do u live in them while reno’ing? No
I am considering this strategy more lately ,and have done a few recently but have found it a battle as the ones i have done have been either overeseas or a minimum of 13 hrs drive away.
I am probably going to manage the next one while being in the area , and get a bit more hands on ,without actually doing all the physical work.Whats yr secret? So far I do all the work except elec / plumb / shower screens – tho this will change, I have changed from 1 bed apartments to a duplex pair of 3 x 1’s – total junk yards one has not settled yet as they cannot get the tenant out
check out somersoft will load my B4 photos of the duplex’s tomorrow
Celeste
Hi all
I just tracked her phone no. thru her email address, leaft a messabe to call me, will update post when I hear from her
Oh she works in booragoon so it will be in Perth.
Otherwise we could meet at the burrendah hotel (willetton) for a chat?
Celeste
Hi all
I thought I had posted an update on the email address.
remove the . at the end, the email went thru but I have not had a response yet.
Celeste
Hi PosEnterprises
Do the banks still do the portable loans that you can transfer from one property to another?
Celeste
Hi all
I think you will find Steve did the odd buy,reno,sell for cahs flow and deposits etc.
Celeste
Hi Paul
I looked into this type of investment in Perth about 6mths ago, they seem to be cash positive but do not expect to much capital growth.
They had only a little capital growth in Perths boom.
Celeste
Hi Kelly
seems to be a problem with your email address
Celeste
Originally posted by Bridgebuff:Strata Titles are on the way out and have been replaced with community titles.
I am in the process of doing a conveyancy course in Perth, there is no mention of community title in the dept of lands training manual, must be an eastern states thing – Martin Ayles did mention them in his seminar, that was adelaide.
all of the apartments I have purchased have a carspace each, the larger ones usually have some tenants who do not drive ( some of these do have those electric buggies tho – the large one usually have a good % of older folk) and you could actually park 2 cars.
In Perth the large new apartment buildings are a strata set up.
If there is money in the fund for tarting up the common areas eg: letter boxes etc. make sure you attend the meetings (you can call one yourself) and push for the upgrades – Upgrading the common areas will increase the value of the apartments.
Is that 200k for both? If it is I’ll buy them.
Gee wish I could get that sort of rent for my apartments, I might keep them. Perth’s market for a 1 bed apartment of around 42sqm you would pay 210 – 230k – rent $150.00
I would tart them up and rent them no worries.
Funny one of the units I lived in when I was 20 and living in Melb (west brunswick) was a converted motel – pool was emptied and Later filled in for more parking. That an Idea for the parking problem if the pool is useless.
any way, I will stop yapping. Good luck
Celeste
Hi all
You could always do what I did, moved out when I was 18 and earing $180.00 p.w and that was pretty good then.
I rented a penhouse ( 4 bed, laundry,bath,2 garages) at $85.00pw
I rented out the other 3 rooms for a fixed amount p.w which included elec, groceries etc. to friends of course.I worked the amount the other 3 paid so well I paid nothing to live there – I didn’t even pay for my own food – excellant.
If I had been a little more savvy then, re realestate I could have been buying it.
There is always a solution if you want it bad enough!!!
Celeste
Hi Originalsinner
Questions for you
1. how many apartments in the complex?
2. any other features ie pool / caretaker / security?
3. what are the strata fees?
4. I have never heard of 2 apartments on 1 title – was it 1 split in 2 or built like that?
5.brief description of complex & studio’s pleaseCeleste
Hi propertywa
Do you mean buy, reno, sell or hire yourself out to do renos?
I buy, reno, sell. have a buisness structure and draw wages. I do not have income protection but have been thinking I may need it – because instead of having one at a time, I now have 4.
Since I draw wages, I should be able to get insurance – as far as I am aware a self employed person can get insurance. there is insurance for everything.
Public liability – that is in your building insurance – One thing I would stress is do not do anything you are not licenced to do ie electrics / plumbing / extensions, leave it to the experts. If there a future problems with these it’s their problem.
If you are hired to do anothers house, you would more than likely need to be registered as a builder. A whole different senario.
Celeste
Hi Originalsinner
Are there any specific advantages to community title?
Not that I know of – except , the up keep of the common areas ie: gardens, halls etc – the expense is shared by a monthly strata levy (which includes building insurance) – the larger apartment buildings have a regular caretaker.
Are there any specific disadvantages to community title?
may reduce the number of buyers. buy not much. I do not generally hold and rent, I reno & sell.
Anything I should watch out for?
I got caught by a major repair – new roof – I got a phone call on settlement day for an extra $1500.00. I did not worry to much as it added value to my apartment which is on the top floor. now colorbond instead of asbestos.
Basically you will receive extra paperwork – one piece is a ” form 28 – disclosure statement” which frankly is useless, I now add a clause in the offer allowing me to ring the strata manager to ascertain whether there are any repairs, law suits ( I read this one somewhere, so I now add it) pending or in progress that may result in extra strata fees/ payments by owners. I ring them and get them to fax me their answer.
Otherwise sit outside for a while and see what the other tenants are like. I buy in older medium to large lots 15 – 112 apartments, cheaper rent etc.
I have just purchased a pair of duplex’s on an old 1966 Strata (all the land around the 2 houses, which share a common wall, is common area) so I am doing a conversion/merger – basically spliting the block in half using the common wall, it is as good as a green title ( normal title) as I can get and I only have to go through the dept of land. I could subdivide but need to go through the planning dept and get surveys etc big bucks.
Each apartment/studio has a seperate title with extras.
Hope that helps[biggrin]
Celeste
Hi paguatao
search the net for a copy of the “R-Codes” this has all the building requirements from minimium land size to window placements (if you cannot find it drop me a line and I will email you a copy) and check the building code of the property 1st ( most councils have this on the web site – look for zoning maps)
A lot of Perth is R20 , therefore 800sqm is not big enough to subdivide. Generally you would look for 1000sqm to subdivide in Perth, especially if it is in the outer suburbs.
Celeste
Hi all
My 2c worth
NO investment, be it shares or property can be deemed to have made a profit – UNTIL you sell them / it , and the NET profit is in the bank. I know some will argue you can utilize the equity.
There is no real profit until you realise it.
Property and shares can decrease in price or increase. You need to have the right timing and choose the correct unit be it shares or property.
I think the best investment strategy for anyone is the one they enjoy and that they KNOW and especially the one that gives them there prefered end result. money or time.
My prefered wealth, is free time and a creative outlet. hence Reno’s, any profit over my yearly target is a bonus.[biggrin]
Celeste
Hi Crashy
Reminds me of Perth 3mths ago.
Anyway, my mum and dad lived there redcliffe 10yrs ago about 4 houses from the water – left hand side of bridge over from the main land.
They were told it is being reclaimed by the sea, because of the higher water levels caused by melting ice caps or something, they predicted 50yrs or so to be all gone?.
See if you can check it out – water line 10yrs ago until now.
Be interesting to see if the level has increased
Celeste
Hi Rob
you apply thru your dept of planning – you need surveys and plans etc. – in short a conveyor.
Have a look on the dept’s web site – Perths site has the forms and info need.
Celeste
