Forum Replies Created
Hi Guys,
You may also want to check http://www.rentcover.com.au (EBM INSURANCE)
CHEERS[biggrin]
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Mumdoo,
There are a factors involved before you should even consider drawing plans, Does the block slope to the street you need to get rid off the storm water, this will basically determine whether your sites are worth doing this type of project.
If the block slopes away and into adjoining neighbour YOU’LL HAVE TO CONVINCE YOUR NEIGHBOURS TO ALLOW A STORM WATER PIPE TO GO THROUGH THERE LAND AND INTO THE ADJOINING STREET.
To give you an idea we had a property like this and the poor little old lady wanted $50,000 to pass a 300mm pipe down her side boundary so we could drain storm water.
SO, If your block does slope to the street and the council permitts this type of developement and you are allowed to subdivide (even if you strata them) the costing on doing a duplex does very quite alot although a rule of thumb would be approx $950- $1100 PER SM2 ie/ 170sm2 x say $1000 = Approx $170,000 complete although you should consult a builder there may be other cost as well.
I hope this has helped,
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Karl & Rita,
I’ve found Rick Otten from Sydney Very helpful, His web site http://www.webuyhouses.com.au.
A master when it comes to +CASHFLOW PROPERTIES.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Mumdoo,
You have 2 great properties with alot of potential.
It all depends on the mortgages you have with the properties, is there a market for new duplexes in your area, are there any being built now if so how much are they for sale, Would it be worth to wrapp them or lease option.
Their is many factors to consider, although I like the idea of building them and then sell or atleast lease option.
Do your homework and you’ll see which is the best for you.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Steve,
Dont amend an old lease, use a new lease each property should start fresh.(If you need to go to the tribunal and show up with an amended lease they’ll basically through it out the door).
Secondly in regards to the commercial lease anylease that adds up to 4 years needs to go through a solicitor or conveyancer, regardless if you have 1x1x1x1 or any whichway you agree with, its 4 years its your solicitor simple.(if you wish to do 3 years you dont need to see your solicitor, may be the way to go ?
I really hope it goes well for you.
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Asiababy,
We use a company called EBM, there a landlord protection insurance ie( loss of rent, mal damage etc 1800 800 544/ http://www.rentcover.com.au).
Give them a call, and compare qoutes.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi G7,
Thankyou for the responce, I was pretty close to your figures.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Alpina,
As you know all 3 area’s have had substantial growth in last 5 Year’s, how much further it can sustain this growth is anybodies guess.
Ultimately the choice is your’s, I dont think you CAN make a bad decision in any of these 3 area’s.
Has this Helped?
Regards
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi brownbear,
I think in the short term it may seem alot of money has to be spent just to move closer to the beach and get off the MAIN ROAD.
Although let’s look at the benefit’s, as you said POSITION AND THE LOCATION TO THE BEACH.
I doubt it in the near future that one would regret such a move especially if the property is near the water. AH WATER, BEACH, BAY,LAGOON,IF WE ONLY NEW THE PRICES OF HOUSE’S 10 YEARS AGO IN REGARDS TO PROPERTY NEAR THE “WATER”.
I THINK YOU GET THE PICTURE!
CHEERS
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi purple kiss.
If you have to remind your agent 3-4 times to do certain things, why are you still with them wouldnt it be better to find one that’s more competent in property management.
my suggestion would be to write a checklist of what you require and make sure they stick to it.
If that dont help, either jump ship or write a nice little letter to the principal, saying that he/she has just lost your business due to bad service.
Property management is so neglidected that it’s becoming a joke and 90% of the time the principal’s dont even know what’s going on, And that’s really SAD!
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Ali,
This has to me a million times over,I’ve learnt not to talk about it anymore.
Just go about and do your own thing at your own pace, learn as much as you can then act upon it.Get as much advice from the forum, your accountant, solicitor whomever.
I was once at a seminar and funniest remark I’ve ever heard was: When ever someone tries to talk you down on a subject or has a negative approach to the subject at hand.STOP THEM LOOK THEM IN THE EYES AND START SCREAMING “BAD SEED BAD SEED” AND RUN AWAY!
He was basically saying, anyone you come in contact with and doesnt agree with you or has a negative feel on what your saying DONT GIVE THEM THE TIME OF DAY and walk away.
Try and spend time with people who have the same interest’s as you do and the one’s that dont, WEll I’ll leave that up to you.
When it comes to investing in property, shares whatever,seek advice where you know there arent any “BAD SEEDS”.
Hope this has helped.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi sonja,
My advice would be to get a third report, view them and even give a copy the purchases solicitor so they can view and make a formal decision,
Sounds to me there taking you for a ride, then again the next property your going to purchase offer them the difference.
It all depends on your market is property moving quickly is it slow these are other factor’s to consider as well.
Your Call.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi derek,
I agree with you, please dont take it the wrong way I was only responding to the risk’s of not having insurance.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi shaunwalker,
This subject comes up daily in my office with clients,
We do inspections every 3 months(nsw law only allow’s quarterly inspections)religiously it’s a system more agents should take on board, If the tenant know’s were coming every 3 month’s there’s more of a chance the property will be in good condition and to check if any Ilegal practises are being carried out.Secondly, Landlord protection insurance very important a friend has a IP in newcastle and guess what, a fire brakes out taking the kitchen and dining room out.
He can count his lucky stars he had insurance, property was being repaired and collecting rent at the same time.Imagine otherwise.
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi DD,
Stick to the lower to middle price range,
remember the higher you purchase the less affordable it becomes to the wrappee.Simply 200-300 you’ll have a broader spectrum.
I’m sure others will assist on this topic.
Hope this helps.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi kavan,
I agree, developers big or small have made a fortune on simply placing a DA/BA on there site’s.
Either one day to build or sell off, I’m finding there selling the sites approved more often than actually building.goodluck to them.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]hi fullout,
I think your still liable for gst,If your company was gst registered at least you could claim it back through your expense’s.
I’m sure it wont be long before an accountant comes to the rescue.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Guy,s
I started in real estate in 1989,back then a simple 3 bedroom brick (in Liverpool) from $100,000 to $160,000 and yep did nothing about it NOW look at it!Then again if someone had have said the same house would be worth close to $400,000 10 -12 years later, I would’ve laughed at them.
Oh well, look to the future.
my 2cents worth.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi guy’s
Get the agent to do a rental appraisal letter with comparable properties, plus you’ll find most brokers will ask for one.
This way it’s in writing and the lender can get on the with finalising the paper work.
Make it as easy as possible for them.cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Hi Stu,
I’m willing to put property against it no probelm.
Cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]
