Forum Replies Created
Fowlers Auction Group or
Drills Swan St Auctionshi murph
its comforting to know that Real Estate Agents are partial to exaggeration and conflicts of interest (no matter what Hemisphere they are in!).
[biggrin]
hutchhi phil,
i agree with Artuad. More information may be required. But on the surface of it. I would hold on to it. It is not a hard or expensive process to get a land serveyor to measure and submit to council, regardless of if you are in Oz or O/S.yes Mspartal
Dazzling is right. i agree dont accept it. I have just changed my accounting firm because they were charging me bucks just to talk to me and then put me on hold!ask around and stand firm!
try
Mark Unwin (accountant)
9854-6317
[email protected]
He generally specialises in Propertyhi gronk,
heres my 2cents worth……Have you looked into separatly purchasing 4 x IP’s and leaving your PPOR alone?
*4x $50K (or less) deposit on each of 4 x IP’s (+CF should be found in rural towns/suburbs)
*$50K balance in the bank to relieve any repayment pressure if the tenants dont pay on time or for repairs etc…Just something outside the square to think about. This way, you are already head of the IP game instead of waiting 5 years when prices will have gone up (by approx 70-100%). It sounds as though you alone are on a sustainable wage to be able to this. It may sound too simplistic, that’s because it is… But it does work. I know this because I was in a similar situation as you 2 years ago.
cheers
hutch
[biggrin]How about the p/a growth of Newport, Altona, Hoppers Crossing, Werribee, Sunshine, Maidstone, StAlbans etc..in the last 12 months? Some of these suburbs were the “untouchables” 3-5 years few years ago. Also the Mornington Peninsula is flying and still has some afordable IP’s in certain pockets ie; Franskton/& Nth.
hi carla,
I self manage a few of my IPs.
As it turns out. I have just met with my tenants on the weeked past.They have been good to me and after 2 years, I put up their rent to $13 p/week. I gave them a bottle of red to thank them for being good tenants and they were in shock.
As I was leaving they asked me; “Do you mind if we sign up to stay for another 12 months?”………Then I was in shock!
(Bottle of red =$14. Rent rise =$676 p/a)PS: Happy tenants dont come along too often so I thought you would enjoy this.[biggrin]
hutch
great reply ksg679,
I glad you bought this topic back up.
I have had same problem for many years, but it is getting easier to get through to my wife.
Only now can she can see the results I am getting by self educatiing and taking action. Even though it scared the S**T out of her at first, she knows it is best for us for both of our (and our new daughter’s) future.
ps; I would love to know how Dazzling is going with his partner, since this was originally posted last year (Jan 2005). Is it getting better or worse daz??
cheers
hutchno worries,
I live in Yarraville so let me know how it all goes.
i’m sure you will learn new things that i would love to hear about.Cheers
BrettNice way to try and advertise the Academy Jamie?
(or is it John?) [biggrin]Hi ozi
I know the area well as well as Hobson’s Bay council. They are valid points to consider and would be exactly what I would advise. Also obviously be careful of where the easements (if any) are and what direction there are pointing. This will have a huge bearing on your purchase and what you can fit on. As Martin Ayles jokes, “you can put absolutely anything over an easement… so long as it’s NOT a dwelling!”. Carports/garages/driveways are usually ok over most easements, but seek pro advice.My designer/draftsman’s name is Benni from Achieve Design group in Newport (Ph: (03) 9391 0166 or http://www.achievedesign.com.au ) he does a lot of work in this region. He can guide through the steps and stages. Because he knows I am a serious developer (and not going to waste his time) he has even come an viewed several properties with me at the time (no charge), to tell me what he can and can’t fit on there.
good luck
Cheers
Brett (0419-849-534)ilearner,
David Tweed…money advice….paarrleeezz…
what rock have you been under?
you are kidding your self.It is very hard to detect sarcasim on these posts, so i will give you the benefit of the doubt.
[blink]hi shrek..
I use MYOB which is easy to use and offers all that. Otherwise the Australian Property Invetsor magazine seems to be littered with ads for such software from various companies. Their website has sample downloads too!
http://www.apimagazine.com.au/cheers
hutch[biggrin]
hi r
is this just US agents??
Sharing experinces is fine.
But how do we rate an Aussie Real Estate agent?Hi brodie,
I haven’t done Jamie’s 21st Century Academy courses. So I haven’t built a big opinion on him yet. But I have had a bit of an interest in his career and read a lot of his promo materials/videos on him. He certainly a goer, who stirs the pot and gets his fair share of publicity.It seems to me that one of his many hobby horses is that he strongly believes, is that all Financial Planners giving prospective investors (like us) financial planning advice should have a suitable, proven personal track record behind them ie; In SM Super funds, IPs, shares etc.. He has even lobbied the government on this matter and ASIC have breathed down his neck about his flamboyant seminars and courses. There are plenty of forum links on him, which might help you. It appears he practice what he preaches. It seems maybe that ASIC have a huge issue with the price of his advice rather than the content. Each to there own.
[biggrin]hi tom,
with then newer (10-20) brick homes (that havent been completly rewired etc.) It should be on the Electrial (power)Box. The two (2) digit construction year should be printed (or a stcikered) on the face i.e; ’89’ =1989, ’92’= 1992 etc..It is on most my IPs. It’s a quick method that I use to when inspecting properties.
(Having said that the older, renovated, rewired period houses obvioulsy will be a bit different).Hi wwbd,
The other Forumites here have great suggestions. I agree this Sub div idea sounds (in theory) like a walk up profit machine.But your approx. amount of $5000 you state seems very low.
Having done this myself several times (Victoria) I know that there are a lot of costs that will crop up and can be solved with some quick phone calls. Especially if it is in a built up residential suburb.
This is a bit rushed. But If you haven’t already done it, here’s a few:
•Contact a qualified land surveyor. To map out exact measurements and boundaries. (Find out their costs to act on your behalf)
•Contact a qualified Draftsman (I prefer one that has done subdiv in that council zone) and pay them to advise you what and where you can fit on the land, based on your stated intentions with the block.
•They will advise on height, length, free & open space restrictions etc…. for each block, before drawing up the plans (Find out their costs).
•Don’t discount a two storey building in you plans. Again Draftsman will advise if it’s viable.
•The relevant Power, Water Boards and Council will have their application and/or Statement of Compliance charges for power, drainage, sewerage, for each subdivision (find out their costs).
•Bank will have their fees to submit Plan of Sub to Titles Office.
•As the others have offered…. Please double/triple check your all your setup, legal/closing costs.
•Sometimes this process has taken us 8-12months from settlement date to be fully compliant and register it with the T.O.
•Also, ask yourself can you afford to hold onto it for 12 months (without income) so you benefit from the 50% CGT discount etc…(If you want to sell off block/s)The reason you are doing this is to a make a decent profit for your time, effort and risk. So the more you know what’s around the corner the better. Professional advise cannot be understated.
Good luck with it! [biggrin]
Hi babu,
All things being equal with both units, there is no logical reason why the agent would be giving you this crazy advice and treating you like this.Confront the agent and don’t put up with their lazy attitude. That $50 difference in Rent is outrageous! It seems you right in believing that you should be getting at least $30 more.
(Some) agents like to believe that they are a rare species (especially PMs)! Don’t put up with their crap. Look around for another one and move forward.
[biggrin]
hi sis,
why not try and track down the author of the website? Try calling one of those vet clinics that are advertising on there. They may be able to help.Track him/her down and you will get one side of the story.It would be very interesting to talk to them and may help to sway your decisions either way. It is obviously tongue in cheek article but to take time to create the website and stories, they must be pretty passionate about their town!
[biggrin]
