Gday C@34,
The first question to ask is how did you prepare the ground before laying the turf.
It is my experience that most people just toss it on the ground with just a little levelling.
I fixed a bump in a lawn once on a landscape repair and discovered a Holden car filled with broken bricks, one hell of a way to cut rubbish removal costs.

Your own examination of the soil under the new turf should indicate to you if it needs further watering, just poke with your finger if your finger can’t penetrate below turf than go where there is no rock or prepare soil before laying turf next time, new roots will have a battle.

Now I know it’s a new lawn but at some point the daily watering needs to stop.
But before then the lawn roots need to grow down and the easiest way for that to happen is if the roots follow the water.
So unless the weather is stinking hot or the grass wilts back off and water every two three or four days.
Until established then never more than once a week for best healthy lawn.

When you water just water where it is needed most.
If the ground is damp no need to water.
If ground is soggy definitely don’t water.
When watering consider where the run off will go, if too much the lowest point gets a lot more than necessary.

A little water is much better than a lot, there is a high likely possibility that your enthusiasm for your new lawn encourages you to water heaps a plenty, so don’t do it resist the temptation.
Think of it this way every 1/4 hr drink a glass of water yourself by the time you feel full or need to go the lawn will also have had plenty enough OK.
Water in the evening’s best or early mornings.

Since the new lawn is only 2 weeks old don’t worry about the algae.
The first thing to do is train your self to water when and where necessary.
When you have mastered this than the problem will most likely have fixed its self or rather you fixed it with good management.

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Hi grossrealisation may I also have a copy of that spreadsheet if it is not too much trouble.

I am presently rethinking my method of calculating after missing out on a bargain recently.
My error was a simple typo but the calculations were too complex and I missed the mistake.
When I realized my error the property was no longer available.

Should have obeyed my first law of business KISS (Keep It Simple Stupid).
Steve had the formula down to 11 seconds to check.
I adjusted it a little after talking with one of my creditors and a few months later complexity was a problem.

Folks take it from me business gets complicated naturally so keep as much as simple as possible it will save time and money in the long run.
My lesson learnt once again.

Your friend Colin,
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“At the end of your life, the only thing meaningful you will leave behind will be your family – so work the hardest at making it a success.” — Chris Widener
“Don’t worry about your failures. In fact, you should record and keep them. You will be surprised how much people are prepared to pay to listen to your failure stories when you succeed.” Billi Lim
‘Accept complete responsibility both for understanding and for beingunderstood’ Richard Denny

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Wylie please accept my apologies.
I have over stepped the mark.
Sorry I grouped you into the majority who sit on the fence and look at the action on one side and their personal opportunities on the other and wait wait wait.

Yes I should be doing more work myself, stitches come out tomorrow.
Your friend Colin.
‘The price of success must be paid in full, in advance’ Richard Denny
“Luck is the time when preparation and opportunity meet.”
Roy D. Chapin Jr.

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Thanks Colin, Your reply is well thought out and pretty much I think we’re on the same wavelength. We have two of these properties in the same street, both 36 perches. We plan to do the same to both, but as I said, we are in go slow mode at the moment.

Wylie your boundless opportunities never cease to amaze me.
When I checked back today you have twice the opportunities you had yesterday.
And just like a solid rock you are still sitting there.

I am sure that you have a perfectly good and reasonable excuse for no action.
Perhaps your kids will understand.

Today and as I was growing up I watched helplessly as my parents did nothing!
They have had many opportunities and today they could still do so much.
Yet they are still working beyond 65 and bitching about it.

I think I was about 10 when I understood what my Grandfather was going on about.
Was he hard on my parents, no he was hard on me.
He wanted me to learn by example theirs.

Most of my working life I have worked over 80 hrs a week and often over 100 hrs.
Today I consider myself a very small success.
I will not waste any resources I have especially the most valuable one time.

All the accumulated works of my resources are my legacy to my kids.
They will have to work very hard for everything they have so they know its value and appreciate it.
Hopefully I can teach this reason to them so that they help me to pass it to their children.

I am sure that with good guidance, support and a good financial head start in life they will be successful.

You will have to forgive me for my attitude.
But waste is a shame.
Time is your greatest resource, shake it or loose it.
Please reconsider Colin.

“Children should be allowed to fail and benefit from their experience rather than to be shown “our” way of success.” Mr. Billi Lim
“The difference between a stumbling block and a stepping stone is how you use them.” — Unknown
“You must have control of the authorship of your own destiny. The pen that writes your life story must be held in your own hand.” Irene C. Kassorla
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. Charles Darwin

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Hello Wylie,
Sounds like you have a half completed project.
My thoughts on this, borrow, build, rent, then have it valued and with draw the equity from this property into a line of credit.

You will have extra cash flow from the rent (second income stream).
Plus equity that you can use for other investments.
Or to supplement your income to help with the larger future expenses in life (Kids N Kars) etc.

Yes building costs are high.
But after the property is re-valued you will get most of it back to use again in the equity.
Considering that you have already payed for the land the rental income will pay most if not all the loan repayments for the building.

Don’t forget to have a quantity surveyor go over the property to help you claim all deductions for your tax.
With the legal deductions plus rental income there may not be much left to pay.

Considering the growth you mentioned in your area.
What could the value of this property be in 5, 10 or 20 years?
Or on the other hand how much more will it cost to build in 5, 10 or 20 years.

If you think that doing this is out of your budget ability.
Make sure, have a chat with a good accountant that has experience with property development.
Not all do, most don’t, many only invest via their superannuation and cross their fingers scary stuff.
So ask your accountant how many IPs he has first, nothing like the blind leading the blind.

You could always sell the land and use the money to reduce the mortgage on your PPOR.
Or use the money to invest else where, perhaps where the price of the investment properties are at a more comfortable price for you.

There are other options like a joint venture with another investor.

I am happily married with 4 young children.
So I understand where you are coming from.
I would like to help them get a good financial start in life.
So there is no way I can sit still and hope something good happens like my parents did, they are still working after 65.
I make it happen yesterday.
Just my thoughts Colin.

“Don’t set your goals too low. If you don’t need much, you won’t become much.” Jim Rohn

“When Andrew Carnegie died, they discovered a sheet of paper upon which he had written one of the major goals of his life: to spend the first half of his life accumulating money and to spend the last half of his life giving it all away. And he did!” Jim Rohn

“If you go to work on your goals, your goals will go to work on you. If you go to work on your plan, your plan will go to work on you. Whatever good things we build end up building us.” Jim Rohn

“We all need lots of powerful long-range goals to help us past the short-term obstacles.” Jim Rohn

“The major reason for setting a goal is for what it makes of you to accomplish it. What it makes of you will always be the far greater value than what you get.” Jim Rohn

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Welcome Spiderman,
My business works in very close with a few builders but one often asks if we can exchange services.
For us it works well and we have both noticed that it has strengthened our working relationship.
This builder often is my first choice when I need some work done and I don’t think he uses any other cleaner to clean up after his team.

First we came to an agreed price with the help of our accountants.
For every 2 hours my team works we get 1 hour credit for when we have some building work done.
Presently we are about 100 hours in credit.
The ratio difference is because builders use more equipment and raw materials than we do and this was factored into the ratio.

Most of the work my business does is through real estates (trying not to promote but explaining working arraignment).
From time to time we are asked to get something fixed or built and we then ask one of our contacts to do the work.

Only with having a builder who owes us means his debt to us is reduced and we invoice the client for the work he has done and receive payment.
I am not sure but I think barter card works something like this (anyone out there know?).

My building friend includes the builders clean and landscaping and it’s maintenance in his quote to his client.
When we do the work he keeps the money, which improves his cash flow.
Small as this arraignment is it has benefited each of us.

Now as far as tax is concerned.
Only money received is declared as income in the month/ year received.
Naturally all businesses out there have an account or two that takes a few months to pay.
As for costs other than labour such as building materials or turf their purchase value is the assumed value in an exchange unless agreed otherwise.

So by paying your builder with an asset for tax purposes the cost price is it’s value.
An asset can be a house or a barrow of bricks for tax purposes.
Remember after the house is finished its value will be more than the sum of its parts and the builder in this case could pick up a little extra bonus in capital gain.

Remember that the exchange of ownership should take place only after the agreed contract of work has been done to your satisfaction.
Have your solicitor draw up a suitable contract.
Remember to give yourself one or more out clauses as things change and s-it happens.

Have a chat with your accountant then your solicitor then go back and negotiate with your builder for a win win situation.
I say win win because if it works this time guess what you will do it again and again.
TEAM= Together each Achieves More.

And if there is anyone in Sydney who may be interested in an exchange than I am happy to discuss it privately.
Hope this helps, Colin.

‘Never consider the possibility of failure; as long as you persist, you
will be successful’ Richard Denny

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Hello everyone,
Not intending this to be a promotion for my business in any way.
But since I have worked for many estate agents cleaning and gardening, there are a few things that I have observed.

Generally the younger the adults are the less likely that they have any idea how to clean.
Cleaning is really simple but like most things there are short cuts, unfortunately with out experience short cuts become standards.

Some times to keep costs down to clients I take a short cut so that more time can be spent where there is more obvious dirt or a health risk.
But in no way does it become a standard, as that would affect the quality, thus the value of our services.
On the other hand if you want me to stay all day there will always be something to clean (follow the kids [])

I would suggest that to get a quote or two from reliable cleaners.
Remember with services you get what you pay for, the lower the price the lower the service.
Rather than looking in the paper for cleaners or gardeners drop into a real estate agency and ask their property manager for a reference.
In this way you will get a reference for a quality professional with a proven track record.

There are three requirements for working with estate agents.
One works for a cost effective price.
Two does a quality job.
Three keeps eyes open and communicates things that need to be fixed or nipped in the bud.

Don’t underestimate the third as they could be growing plants in the bathroom, in 91 I was cutting a lawn and needed to go to the toilet, the discovery was made when I needed help to get the bathroom door open, as the hydroponic plants had slumped against it.
The stupidity of people never ceases to amaze me.

Or leaving the water running over night in the garden.
The lawn requires a map and compass to find the cloths line.
A pest exterminator must have experience as a lion tamer.
A simple replacement of a washer in a kitchen sink can stop a leak that would cost a complete kitchen makeover.
A broken window can be fixed same day etc.

Not to say that all tenants are from hell, few are, the majority are rather nice people.
One of my recent clients tenants came home to find all their furniture missing.
They had little money but had a good rental background so the estate agent helped them out.
An alarm was fitted to the house and there was an arrangement made with a furniture shop to fit out the house as they wished.
The rent was increased by $25 wk and the bond increased by $200 as insurance cost.
The owner will have a larger tax deduction for the furniture and a higher rental return for a few more years as the young couple also signed a 5 year lease replacing their 6 month lease.
The owner is presently on a holiday in Europe and was unreachable.

Now I mentioned this for 2 reasons.
One that good management will cost more but the cost is really an asset.
Two many young people don’t have much money thus their furniture requirements can be an additional income opportunity.

There are a lot of opportunities out there but definitely do your due dilligence on the people involved and keep your mind open for opportunities.
Your friend Colin.

“Children should be allowed to fail and benefit from their experience rather than to be
shown “our” way of success.” Mr. Billi Lim
“The difference between a stumbling block and a stepping stone is how you use them.” — Unknown

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Thanks foundation for the numbers.

I asked my accountant about how often it takes for wages to double.
This morning I received an email back that it’s around 12 years.
Now before someone jumps down my throat he is only covering the Campbelltown area.
And other areas will have different results.

Your friend Colin,
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“Ideas are the currency of the future,” Name: Kevin Roberts
Occupation: CEO, Saatchi & Saatchi

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Now that is an interesting concept.
Houses double every 7 to 10 years.
Household income for my staff has taken just over 10 years.

Their pay is above the average but I can’t see it doubling as fast as houses.
I do my best to help increase their incomes with opportunities but being realistic the average income growth will not match house growth.

Perhaps this is why the banking sector has changed so much over the years?

On the other hand as an investor I aim to double my investment value every 3 to 5 years.
That’s between 12.5 and 26% pa less than 12.5 not interested and over 26 most likely too risky.
There is no problem with this and many of my staff has followed me into investments also earning simular results.
However I just keep compounding and many of them take some income out.

My conclusion to this is that in the future homeowners will require more than one income stream and a proven investment record instead of a savings record, which is required today.

I may not be able to increase staff pay with out pushing prices up to clients.
But as a good responsible employer I do my best to help staff invest wisely.
Ideas and education should be shared.

Does anyone have actual figures for a proper comparison of incomes compared to house growth?
“The basic rule of free enterprise: You must give in order to get.” Scott Alexander
“Get a good idea and stay with it. Dog it, and work at it until it’s done right. – Walt Disney

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Don’t be a sheep.
Go the opposite way to the flock.
A buyers market is when the majority are selling.
A sellers market is when the majority are buying.

First things first do your homework.
If you seek advice from someone consider how that person prospers with his or her opinion and investments.

Do your homework, never stop this, worst case it will be practice and will provide contacts.

Plan your future investments with an increase of 2 to 3% in interest above interest rates at the time.
This way if nothing happens with rates you are making extra payments which adds an extra margin for error.
If the rates go up you are prepared.

Worth considering your investment options if rates go up and the sheep start selling at reduced prices.
Remember the best return on your investment is made at the beginning not the end.
And with your continuous well practiced search for opportunities you will be ready to go.
“Happiness is not something you postpone for the future; it is something you design for the present.” Jim Rohn

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