Forum Replies Created
Hi La
search the web for a copy of the “R-Codes western australia”
(residential building codes for WA). It will give you all the info on zoning and block sizes etc. It will give you a start.I down loaded it ages ago, can not remember where, if you have problems email me and I will send you a copy.
Also, most of the shires have web sites with maps / ariel photos with zoning info and block sizes etc.
The best place to ask re: surveyors etc is the Town planning office of the shire you are looking in, they should give you the names of the ones who they deal with regularily – these guys should know what the council will allow and what they won’t.
Celeste
Hi batesy
Last sentence I meant ” for you” soryy
Celeste
Hi batesy
I see you are WA, My hubby has an airconditioning firm. He will give you no nonsense advice, on the best way to go and where to get it.
He does mainly commercial. He doesn’t do much install work for residential, so no conflict on the advice.
So email me a plan with measurements and I will run it past him got you.
Celeste
Hi Frank
Bullcreek in Perth
Celeste
Hi All
I agree with Terryw, re – contract and a caveat.
Caveats are easy to have put in place, they are listed on the title to show you have a financial interest in the property and prevents the property being sold with out the caveats owner’s permission.
You can have them lodged on anybodies property, I know about one being placed on a house by a nasty mother inlaw.
She placed it on via help from legal aid in Melb no body knew about it. (she was in her 60’s and losing the plot) 5 years later she passed away, about 12yrs later her son died and on the way to the funeral (I mean whilst travelling in the funeral car to the cemetry) the wifes mobile rings ” are you Mrs…. ” “no she died years ago. I am sorry on my way …. I call you back”
She calls back and it appears these poor people have a caveat on their house by the mother in law who they do not know and they can’t sell their house. It turned out that the caveat was supposed to be on the sons house, it got put on the wrong one.!
We still think it was the mother inlaw getting one last dig at her sons wife, really creepy timing.
Celeste
Celeste
Hi Gio
How do you avoid CGT selling to an investor?
Celeste
Hi all
sorry about the spelling ,the naught mummy is not proof reading again – & not using spell check
Celeste
Hi Mark
Thought I might be, Hubbies 25 & 27 year lolds are battleing through the same thing. CRAA rating
Now they have finally grown up, their financial pasts are back to bite them.
Not alot you can do, trust me, I have sourced out all my contacts and legal friends for the 25yr old, in the end we had to go guarantor for a 5k loan so she could get her debts under control. (she had a car loan at approx 20% – her mother (not me) the financial advisor (her business) got the loan for her???? (lesson 2 check out financial advisors creditials).
So you have 3 options – 1. wait it out 2. get a guarantor 3. a mortgage broker may be able to help.
I am assuming its paid. double check this is noted on your CRAA, if not get this fixed.
And it is 5 years – statute of limitations on a debt is 5 years (after that you can not persue it) use to be 7yrs – generally it is the same time frame as the ATO for keeping records.
Good luck.
Celeste
Hi Yidn
I have to wonder ( note this is my new catch phase, besides “show me the money) Do you run a business sourcing business ideas for people and charging them for this service?
Could be you already have an excellent cash flow business!
Getting the ideas from all different forums for free then selling them on.
Hmm just wondering![biggrin]
Celeste
Hi colin
Further to the discussion, I find that most of the time, once a lender has a clear picture of how the default came about and that it was settled they are happy.
The last one I fixed came about over a disputed bill for works done or not done on a forklift, I the bookkeeper refused to pay the bill as I disputed that the work they said they carried out was actually done. the forklift was the same after they left – not fixed.
After about 1 year of arguing over it they sent a summons and placed the default on our CRAA. Eventually it was settled.
the firm I worked for then went for finance of around 700k for new equipment – then CRAA default problem – a note on CRAA default listing and a letter from the forklift firm stating all settled = finance.
Though if my assumption is right about age and the vodaphone or the like account, is a little different as it showslack of financial responsibility / maturity and is a darn site harder to get around.
Vodaphone loved default listings a few years ago. A little late and you got one, and for a youngun they hang around like a bad smell.[ohno]
Celeste
Hi Zaman
I pretty sure you can list it as education on your return, I have, lodged my return, the accountant did not say no, they all went thru.
time the purchase and the seminars closely to your property purchase. I did have the expenses around the same time of my 1st property purchase. Therefore the connection is there.
though always check for your self. the ATO site has heaps of info.
Celeste
Hi mkc
I have been wondering what would happen if you got early access to do reno’s and something went wrong. As all the books I read say to do that.
I do get in early to measure and size things up and make plans, go shopping, but not to do any work.
I my self never thought that was a good idea – to scary for me.
I would at the least wait for all approvals / get out clauses etc were finalised and the contract was unconditional.
Why did you start B4 offical finance approval?[eh]
Celeste
Hi all
Last week I was at the book shop looking for a read, I spotted steves book re MAP thought I better read it and see what his views are, as I am hanging out on his site.
2/3 thru very interesting. I feel renewed as his ideas / strategies match mine. Except he has more ideas etc as he has been in the game longer than my 6 months! excellent.
Celeste
Hi all
I have done debt collecting and other related stuff for a solicitor.
You can not have it removed, but you can have a letter, note etc attached to the default on your CRAA explaining the circumstances.Also, get an offical letter from the firm involved stating that the debt has been paid and any other circumstances that caused the default.
I have done this for businesses, when they had problems getting finance. It was enough to satisfy the lenders.
Let me know who the firm is who placed the default, I may be able to give you more specific advice.
I am guessing you in your early 20’s and it vodaphone or the like.
Celeste
Hi all
It seems “chpropdev” has the same set up as me. You can do both under this set up. I do the buy, reno, sell (income) and I have one rented out for the 12 + months(investment).
My hold was a long settlement and the tenant still had 2 mths on their lease so I left them in there, when they move, I have my hubbies oldest step daughter moving in to rent. (So of course my intention when I purchased was as an investment,[wink2][wink2] that I just happened to reno later and sell.)
Celeste
Hi Redwing
With you Buy, Sell, Reno, CGT costs would you not be better off accessing the equity to refinace rather than selling..you then still get the CG benefits?My formular / plan is a little complicated. My basic plan is to take 220000k LOC and turn it over as many times a possible in 1 year, building capital as I go.
I pay my self a wage each week (equal to the one I was getting working for the man). In may 07 I will pull some money out of my business account and salary sacrifies to super. We have our own super fund, hubby will them buy property and work the stock market with these funds via the super fund.
At present I am on target to make a minimium of 30% profit on my original 220k, more if I squeeze another in.[biggrin]
There are numerous reasons why I chose this path
1. hubby with a debt tolerance of 5% – I am trying to increase this.
2. A need to be creative / hands on.
3. wishing to have more time to do the school stuff – canteen etc.
4. I did the numbers on rentals, do not like the returns in Perth at the moment.This is my short term plan, Long term I plan to have a block of units or the like that are cash positive (or near on full owned) for regular income when we retire.
I will take each property on its own merits, I may come across one or more that I feel is worth keeping long term. Like my long term property in Mandurah 5 min from the beach!
Celeste
My motto at the moment ” show me the money”[thumbsup2]
Hi all
I read / watched ? can not remember an article recently on storage. I am pretty sure it was on telly.
Seems to be an excellent business as demand is increasing, though specialised units are the way to go – business doc’s storage / wines storage (needs climate control )/ house hold items etc. Hubby looked into them for boat storage, no undercover boat storage available in perth (there’s an idea!)
I have been looking to purchase one thru my super fund , to rent it to my trust – to store the furniture I have purchased to dress up my reno’s for sale.
I have tried the internet / papers? where are they listed?
celeste
Hi zopm
All I know is that they have different building requirements. They can be problem matic to subdivide / develop.
If you are in Perth check out the R-Codes – email me and I will email you a copy. If you are in another state search for “building codes (state)”
Celeste
Hi Lifeexperience
Thanks for replying -Yes, I am hiring a licensed electrician, wouldn’t dream of doing it my self. I do these renos on my own, if anything happened, I would not be found until there’s no tea on the table. (especially in summer as hubby has an sctioning firm.
funny though I had been eagerly awaiting your response, when Hubby had to an electrician out to the PPOR to fix a security light and he came today, I ran the Q’s past him.
good O – same answers
Thanks for that
Hi all
At present I am primarily into +cash flow – buy , reno, sell. Though I am holding one for just over 12 months to lessen tax and I have one in Mandurah long term.
I like my returns realised – In the Bank!
Celeste
