Tues 17th JulyToday I got rained upon. It was wet.-also unloaded yesterdays trailer load of garden waste at the tip-did a second trailer load to the tip as well.-took my chainsaw to get serviced-got some more prices on carpet, floating floor, and carport-booked a renderer to do a quote tomorrow.

Mon 16th July-Got started today!-took out most of the plants in the front yard, some big ones needing a chainsaw are still standing.-went to tip to drop a trailer load, but they closed at 4pm, and I was 40min late. Bummer.So first job tomorrow is back to the tip. Then more ripping out plants, mulching etc.BTW, I hate agapanthus.

Sunday 15th JulyStarting work tomorrow (Monday) morning, on the garden only for now. Tools loaded, trailer ready. Excitement.

Hi everyone.Great points raised about asbestos. Nasty stuff. I have dealt with it a little, and was very careful in my handling of it, full protective gear, hosed everything down to stop dust, wrapped it all it plastic etc. Yuck. Not fun.And asbestos is just one of the many hazards in the building industry. I guess that could be one reason they…[Read more]

Just realised I spelt McKnight wrong in the above post. Sorry Steve.Tues 10th JulyWhat a day.-Early access denied, BUT they said we can work on the garden, just not on the house. OK with us.-They offered to bring settlement forward, but based on lenders performance so far, we think best not to rock the boat. Leave settlement as August 1st-So I…[Read more]

Hi crashy

crashy wrote:
If I was a builder, I would be hiring myself out instead of doing reno work…….especially if the reno work is all taxed profit. yeah I know…..youre not registered…..

Once registered I may well hire out to others to increase cashflow, but this is not my primary objective. My goal is to be a property investor, not to…[Read more]

Hi allRe being a builder:In Vic there have been law changes in the last couple of years which mean that any work with a combined market value of over $5k requires a building permit, and some things less than 5k still need a permit eg any restumping, anything with a roof etc.Anything over $12k value is meant to be covered by Builders Warranty…[Read more]

Hi littleguyI don't know about SA, but in Vic you really cannot do it. The State Revenue Office would see it as 2 separate sales – 1 at 180k, and other at 195k. You would have to pay stamp duty on 180k, and the next buyer would pay stamp duty on 195k. This certainly takes the fun out of thingsBut if you call a local solicitor who is good with…[Read more]

Sun 8th JulyNot much happened the last couple of days. We are expecting to hear tomorrow (Mon) if we can have early access to start the work. If so then we should get keys on Fri 13th. If not then settlement is Aug 1st.I have decided to apply to become a registered builder because any building works worth more than $5k are supposed to be done by a…[Read more]

Wed 4th July and Thur 5th July-got another quote on carpet and floating floor-another quote on plans and permit for carport -$570 for both, but i have to supply copy of house plans from council – costs $82.50 to get council plans. So $652.50 total. Sounds pretty cheap to me. Bargain

Teus 3rd July-asked mortgage broker to change loan from 95%LVR to 90%. This will reduce mortgage insurace from about $4630 to about $3030. We don't have enough cash to do the deal at 80%, but at least $3030 is a lot better than $4630.-got a quote from the draftsman to have plans drawn for the carport. He said about $600 for plans, plus another…[Read more]

Mon 2nd July-Loan is approved unconditionally. At last!-asked mortgage broker about reducing mortgage insurance-asked solicitor to request early access to the property to start work.-called a draftsman to draw plans for carport-inquired about 2 more houses

Hi adpropcould you elaborate on exit strategies? What ideas have you used, or would you use??

HiIn regards to trying to avoid the stamp duty, I have asked a couple of solicitors about this, and basically the State Revenue Office has a very clear statement that if a property is on-sold, or transfered in any way to another party for a higher price, then they see it as 2 separate sales and will charge stamp duty to both of the buyers. This is…[Read more]

Hi craigcassJust to let you in on a secret i (flic) am 28 and jase is 29, we also have 4 kids, our youngest is the cutie in our photo (now 9 months). So if we can do it then I'm sure lots of others can, including you. Its never too late.Flic

Sat 30th June-went to an auction for market research purposes

Fri 29th June-received word that the valuation came back ok, so just waiting on the rubber stamp for the loan.-made a list of other houses to inspect tomorrow. Keeping a close eye on the market!Hi RichardWe have told our broker. There is a $1500 fee to end the loan in the first year, plus a loan startup fee, this fee, that fee…We were a little…[Read more]

Thur 28th June-called RE Agent to keep in the loop. He said he took the valuer through the house yesterday, so final loan approval should be close.-Called mortgage broker to tell him valuer had been through.-talked to boss again and reached a mutually satisfying agreementDoes anyone have an idea for what colour to repaint the deck????

Wed 27th June-went to solicitor to drop off some papers.A question for all who wish to answer: In the bathroom at this house we are thinking of putting a row of border tiles around the bath. We would like to choose a color/ style that makes the bathroom look less "peachy".Any ideas on color of border tiles?Or any better ideas for bathroom.I will…[Read more]

Just a note on our mortgage broker. We have never had any easy loans, always complicated, usually by me (flic) being pregnant or on maternity leave. However our mortgage broker has been awesome. I fully believe in giving credit where credit is due. So i will always send thankyous (flowers, chocolates, fruit baskets) to those who help during…[Read more]