Forum Replies Created
Hey Mario
My basic rule of thumb, if i make make more in a day or week than the tradie i'm planning to employ then i'll pay a good pro to do it and stick to my regular income production.When i've got the time and enough knowledge of the task to do it myself i do it as i know i will do as good a job,and even better on some occassions, than the tradesman. Electricity and copper pipe however are the exceptions to the rule.
Good luck..Cheers
iball
Thanks for the feedback guys, think I'll be going with the tiles on this one now. Cheers..iball
Thanks allycat…there are so many contractors servicing Perth that Ive got a swag to follow up on..Cheers,iball
Hey MLK
Make some allowance for headworks and underground power to both units.Double check that the width of the access way to the rear unit meets council requirements from the git go very first thing.Be generous with parking space in the front unit as the minimum dimension for reversing can be a pain in a large vehicle(larger than a Fiesta!!)Walk the boundary and check the condition and height of the fences as some councils are fussy about those two issues when it comes to subd's,you'll need to allow for a boundary fence between your units as well and any sort of demolition or clearing of the back lot will be another expense too. Check for white ants in the area and build your roof structure with treated timber or steel if need be which is a little more expensive but great big peace of mind ,and ensure the pre-slab treatment is done properly.Its up to you but some one like a Summit or Stratawise etc..in Perth could do your first one from scratch so that you get wet reasonably safe with a set contract while they do the show and tell for you to learn from.Still heaps to tell but..zzzzzz
Remember, Caveat Emptor! do your due diligence and if you miss out on this one there will be a better one down the track soon.
Good Luck and Go Hard….iball
RHP
Thanks I'll give them a call..Cheers
Offset accounts have enough to pay out loan or pay for construction,will still have the original loan if I use my own money,but will be CF+ if I go this route.Selling can free up the $ to do it again somewhere else maybe on larger scale with less debt.Westpac loan, no exit penalties, had the same deal going for my last 6 buys…Cheers iball
Hi WG
I'd do it so I know Im competitive with whats on offer in the local market..and I'd tell the valuer how much I spent doing it so that it was just right and to standard with the rest of the reno…Cheers..iball
Thanks DW and Evolve
Will arrange to talk to my accountant this week and see if she feels confidant enough to advise on the best strategy,or refer me on to some one else with the knowledge. Not all neighbourhood accountants want to specialise in property, unlike some of us with the bug who are trying to make a little luck for ourselves.
Still open to more advice or tales good and bad if anyone wants to contribute.Cheers…iball
Mike
Thanks for the free report on the Perth property I'm looking at, and also the extra information.
DonThanks GOM…I'm starting to wonder if a small investor such as myself actually needs to have a trust,aside from asset protection what are the other benefits after having spent the $ to set one up.I'm guessing that accounting fees for all matters involving trusts are also inflated.Reason I was enquiring is that I have 6 properties 75% owned and positive cash flow, looking to buy again soon.
Qlds007 wrote:I am with you DIY.Thanks folks
I will be able to make a more informed desicion with your feedback.
Cheers
iball
