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That is not an unusual situation. I remember that Bankstown council lost all of its records about 15 years ago in a fire when the council chambers were destroyed.
Get your buildiing inspection done, carry out the usual searches with the water board (or dial before you dig). If there seem to be no anomalies, go for it.
Before deciding on a system you should consider the ultimate use: ie is the area affected going to suffer a lot of bumps and knocks (hence need constant patching)? Then you may consider render.
The main disadvantage in render is that it is a wet trade, it will take at least a week for the wall to be sufficiently dry before you can paint and it takes longer to apply as compared to pb.
If considering pb, you can also use battens to even out the wall if necessary.
craigsed wrote:I think the question is, how do you physically pay a deposit on hammer fall when you do not know how much the winning bid is going to be? You can't get a blank bank cheque….. Do they take a personal cheque? Didn't think so….Craig.
In the corporate world, buyers come to the auction with a cheque in hand ie they know their limits. If the auction exceeds their predetermined level (ie needs more deposit than they have authorised on the cheque), they walk away. I have seen many cheques often for tens (and even) hundreds of thousands of dollars above the required deposit. It gives you an indication that the buyer was prepared to pay more had there been more competition at the auction.
With regards to when you can register for an auction – anytime up to the drop of the hammer, then it is too late! However, I'd prefer someone to register before bidding opens (even a day or two before auction if it will be a phone bidder).
This is more symptomatic of having used gloss paint unfortunately – it highlights any defects in the substrate. Gloss is not suitable for cement render – it is specifically for flat surfaces such as timber (wall boards, architraves, skirtings, furniture or metal) however it can be used successfuly over set plaster. The use of a semi-gloss (for bathrooms/laundries) is generally OK.
I would consider sanding the wall back entirely, sealing and then using the appropriate finish coats (but not gloss). Ask the sales staff at Bunnings how you can fix the problem.
sathyan wrote:Holiday accommodation rate is too much because the owners will try to make the most out of the vacation and hence more will be charged.There are higher vacancy periods and greater maintenance costs which are also reflected in the cost of holiday accommodation.
I am not aware of any freeware style of property management software. There are issues with using public domain software of the nature that you want eg: all of you financial transactions are not stored on your computer and might be accessed by others (this should be considered as part of your risk management strategy).
What objections do you have against installing the software on your computer (most PM software packages are quite small or can be installed on a portable hard disk costing less than $200).
Personally, I would consider the Rentmaster system (http://www.rentmaster.co.nz) – it has a 60 day free trial so you can run as many simulations and real property scenarios on it for 2 months before you purchase it. You can also subsribe to get quarterly updates if you wish to however the system is quite robust and the mods which are being added are only minor.
Be warned that council may crack down on this as you will need to get plumbing installed for a 2nd kitchen/bathroom (mods approved/stamped by the water board). There are also fire safety issues to be aware of – if you do not have proper fire separation between the two dwellings as well as wired smoke detectors then you will have to face the consequences if there is ever a fire causing injury/death.
There was a short commentry on Townsville in this month's Smart Investor – it basically just highlighted the main advantages of Townsville in general (no specific areas mentioned). It noted that there is an airbase (as well as an international airport), a university and has tourism as its three major attractions. Unlike many country towns which may only have one major industry eg mining, Townsville has several good prospects.
You don't mention whether you have any other assets which can be mortgaged – if you do, you may consider either drawing down some of the capital against the other property (via a line of credit) or (heaven forbid) cross-collateralising the loan (ie tying the two properties on the one loan).
As each state has different requirements regarding licensing of contractors & disposal – provide a general guide (with links back to Workcover websites).
How much ac sheeting can a non-licensed person remove and dispose.
What is the appropriate PPE which should be worn.
Should I do an asbestos removal course to learn about the hazards of handling AC?The median house prices in Australian capital cities when compared to other cities is a furphy. Why? Our expectations for housing has changed dramatically over the past 50 years. We now expect to buy a 4-5 bedroom new house in the outer suburbs at or around the median price whereas 20 years ago we expected 3-4 bedrooms and prior to that 2-3 bedrooms was the norm. If you compare our expectations with those of the highly developed housing markets OS, their expectations haven't changed – they still have the same dilapidated housing and high densities that have existed for decades.
There are plenty of affordable sub-median priced housing options available, you just need to know where to look. (There are just as many sales below the median price as above it).
Zollo wrote:Just a beginner. Can anyone recommend a good property accountant and good property lawyer in SA……….?
I would consider using Mel Ciampa at Home & Housed (based in Adelaide) (08) 8178-0097.
I won't claim to be an expert on trusts (far from it) however if the property was not in a trust then you can only offset capital losses against capital losses and costs against income. Capital losses can be carried forward indefinitely. You are unable to distribute losses from a trust to the beneficiaries, so your cap losses must be offset within the trust.
All states will require that you enter into a standard form lease (available from newsagents or dept of fair trading) and to lodge the security bond with the rental bond board.
see: http://www.fairtrading.nsw.gov.au (then go to landlord section)
Pitto, there is usually a dispute resolution mechanism in the agreement eg a third independent valuer appointed to adjudicate or the two valuers come to some agreement as to which are the most appropriate/comparable premises, does such a clause exist in your management agreement?
Are the rents nominated by yourself the advertised rents or the deals which have been communicated to your valuer by their network?
Does the reported rent include any incentives to the lessee? eg rent free period
Have you taken into consideration the basis for valuation ie how the rent is to be determined (vacant possession, sitting tenant, comparable market rents etc)?
Being a wall heater (instantaneous) there's probably not even enough in it for the recycler to cover the courier fees. Had it have been an older storage unit with a copper tank it would be worth a few dollars to you but you'd have to do all of the work to get the copper out of the unit.
That does sound a bit light on stumpy. BTW, does Qld have a concession on stamp duty for first home buyers (like NSW's exemption up to a set limit)? If not, this would be even more inaccurate.
Having checked your calculations, this seems to be right – also checked with a 20% deposit and the normal repayment would be about $454 per week.
Is this another example of a resetting mortgage (AKA US mortgage scheme) or similar to a low start loan?
Just on the point of maintenance, a % is still a useful tool as you can compare & monitor if costs are increasing disproportionally (costs may well be higher if the property is managed short-term/holiday lettings, but so will depreciation).
Review the sales data in the area – Western Sydney has taken a major knock over the past 12 months however will be slow to bounce back (ie when it comes to selling the development). Make sure that you know what the end market value is and don't pay too much for the site or over capitalise.
People in this area aren't looking for high end property so make sure that you build for the market (ie use a project home builder/ or standard design).
