I would seek good advice from a good accountant on this one

Harley

Eve,
Not sure how far your advanced with your property investing, but I would recommend that, whatever you do, be prepared to take your time over it. I find that the more I know the more I realise that I don’t know. But this site is a great place to start finding out.
All the best with your efforts

Harley

You need to tell the full story here Shaz!
There is mor information required if you want genuine advice. But I agree – You do need help. Nothing wrong with that. Just put your neck out a bit and you will be surprised at what happens.

Harley

Mumofthree, don’t make excuses for yourself! You can do it too!
You don’t need rich parents, or brothers and sisters. You don’t need others to help you. What you need is the decision and the determination to do it. Then what you need is someone who will hold you accountable to yourself.
So go and do it! Determine what “It” is and start work.

Harley

Stephen,
I suggest that you measure up the areas that you have, price the materials, then calculate the rate at which a tradesman can work. A helpful source for this would be a book called “Flipping Properties” by Bronchick and Dhalstrom (page 111). Use a labour rate that reflects the cost of hiring the tradesman to come up with a total cost.

Harley

For me, if you give me your money, I’ll give you feng shui.
If people want it there is a market there!

Harley

Gavin,
It might depend on where you are, but Comm Title is cheaper to do than Torrens, and requrements for provision of services can be different. EG CT you can have a single and common services connection which is then split within the property. TT must have own individual service connections to each property.
It all means $$s.
Talk around with your council and LTO. They will help.

Harley

I concur with Michael’s thoughts.
Why would a builder bother to put his name and reputation at risk in this way?
Why would you bother to try and do a jo that a tradesman can do so much better and more quickly (I’m making some assumptions here- but if you have not got a licence then ” Why is that so?”)
However, if you really wanted to do work, why not get the builder to do the things that need to be certified and you do the bits on the side – eg landscaping / painting etc?

Harley

Hi Bigbelly,

If John really wants to loose this much money then I am here to help!
I’ll bring down my biggest bucket and he can just pour it in.
And I’ll come back each year to help him if he want’s me to! No questions asked.
Just let me know would you!
But have a think about it! There may be a better way to do business than to throw it away.
Is John trying to make money or is he trying to save tax?
The answer will determine the outcome.
“Why?” is more important than “What?”

Harley

PS Look at today’s tip – “You should never pay more than 30cents in the $ in income tax.”

Glad it’s gone, but what remains of the roof surface.
I’m not too sure what a wire brush does to galv. (or is it colorbond?)
Watch it over time!

Harley