Forum Replies Created
I have a copy of Buyer Beware to sell if you are interested.
I have the Mortgage Broker's Marketing handbook from the National Mortgage Broker's Institute which I am happy to sell. It contains the marketing strategies of the most successful brokers in the country. Co written by the Director of the Institute.
The FHOG only relates to your PPOR. If you buy a PI first you are still eligible for the FHOG when you do buy your PPOR
Having been stung repeatedly by a broker in the past I totally agree with the new accreditation requirements. I have just gone through the hoops to become an accredited mortgage consultant so that I can assist my clients in property. Yes there are a few things to do to get accredited but nothing like a uni degree. It is a good protection to the consumer. Getting a mentor is not difficult and it is a great way to learn strategies to assist your clients and build a solid business.
THanks B, what would you suggest? Can you give me any reasons please?
Thanks
Claire
Swany
You can get answers to these questions by joining the property investing mentoring program. The spreadsheets/templates for crunching the numbers alone are well worth the money. I can thoroughly recommend it. There may be other resources that you can buy if you can't get into the program. Well worth asking the question.
ClaireI am sourcing properties for investors in the Western growth corridor, Brisbane. Huge growth area. Send me an email if you would like more info.
Hi Zane
Another option would be to get a quote for the work required and take this amount off the purchase price. Regardless of whether you do the repairs yourself at a cheaper price. The way you have control of the property sooner. However you need to weigh up if it is cheaper to do this and pay the holding costs or get the vendor to allow you early access to complete the work prior to settlement thus avoiding hadditional holding costs but also lowering the purchase price. You may prefer to go withDarren's suggestion so that you don't need to outlay the cash to repair the property and keep the purchase price as per the contract giving you maximum borrowing power against the property.
Sounds like fun!
Claire
Good point,thanks. He doesn't have the health for it. 82 and on dialysis. Would have been great otherwise. Old school , excellent quality, he has been a great help to me checking out work done by project builders. However my regular builder who I would have asked has gone interstate. I can always ask around the builders I know. Just need to build more relationships I guess. But if anyone is out there that is interested I would still be glad to hear from you.
Thanks
ClaireThanks for pointing that out Richard. I am purchasing a house built and certified to lock up stage by a builder The builder went broke due to mismanagement and is selling it to me 1/2 finished. So I either employ a builder to complete it and I have less control of the project and more expense or I complete it as an owner builder project from plaster board fix out to turf and letterbox. Then I have to live in it. There are builders out there who are better suited to their trade than management.
So it is a matter of what next. Do I keep funding private and project builders or just do it myself. Interestingly I have been offered a partnership with a project manager who has a nominee. Not exactly what I am after.
Thanks again
Hi Richard
I really appreciate you taking the time to reply to my thread, thankyou. There are 2 industry standard ways to obtain a builder's license. The obvious one is to go to tafe and spend time on the tools, get the carpenter's certificate and the builders study following to get the lisence. This is a great way for an 18 year old to have an apprenticeship and get into a trade. The other is to go through a company and use a nominee. There are many licensed builder's who have obtained their license quite legitimately this way. Having been screwed by a builder in the past I have made enquiry as to ways of obtaining a license and have been advised by the leading body that with my background in project management I should go this way and find a nominee for my company. They have made me a member regardless. The work is carried out by licensed tradesmen and all work is certified by such. No I have nothing to hide and nor would I do anything that was not creditable. When you use a builder's lisence you don't use an owner builder's lisence. One or the other. I will project manage the work, attend Tafe for 2 years. The technical term given to me in this capacity is a supervisor. My job is to procure licensed tradesmen and project manage the process of the build. The builder & I will discuss which stages of the construction or project that they will carry out inspections as they are signing off the work. I will pay them not for the use of the license but for their time as a consultant which I think is legal. I need to check on this as I understand there is a legal way of doing it. I was told by the housing authority (which I prefer not to name) that I should arrange this directly with the builder.It is a bit like a builder employing an apprentice. The apprentice does the work and the builder signs off their work. Legally the builder doesn't even need to be on site all the time. I will not carry out rennovations over $11,000 without a license because it is illegal. However many people do. I am not expecting that many builder's will respond but there may be a retired builder out there who does have a bit of time for inspections, is willing to be paid for their time and would like to help someone who is sincere, works hard and wants to get ahead. They might ask for some kind of financial security to cover the 6year3month guarantee over the property. I envisage building 4 houses over 2 years. It would be interesting to ask Martin Ayles if he spent time on the tools. So again I ask if anyone knows of a builder who would be interested in talking to me please contact me. It is a pity my Dad has long retired and no longer holds a builder's license!!! Perhape I should be advertising for a foster Dad with a builder's license!!!Have an incredibly wonderful day.
Many thanks
2002 Camry
I tend to have adults in the car and it suits my day to day running around in project & development management. Sometimes I could do with a ute or a 4WD for driving on subdivisions but walking is good too and it is not often I need to do this. I look at heaps of cars but don't see the advantage in driving anything else just now. Toyota is cheap to maintain. When it starts to cost me money I will replace but haven't decided what with yet. xtrail, murana or downsize… In the near future I will buy a cheap ute and it will be driven by a labourer I intend to use on a contract basis. So I really won't need to change my car as I will have a ute with labour!
claire&ccprojects.com.au
Hi Happyjack
JV agreements or any other agreements need to relate specifically to the parties needs. So any agreement you use needs to be tailored to the specific venture.
If you send me your email address I am happy to send you some info. Check your emails.
Happy writing
Claire
ccprojects
I guess you would need to take over the management of the property with the same tennants in place . You could ask them what they were looking to pay and if it is in the ball park you could and advise the tennants that the property is not for sale now but if you decided to sell in the future you would give them first option on the property. You would then need to wait a month or so before negotiating a sale with them. You do however risk loosing the tennants in the mean time as potential buyers. Alternatively ask them what they would pay for it now. It may be high enough to cover the sales costs. It will be interesting to see what other comments you receive from the forum.
All the best
ClaireThe tax agent needs the depreciation schedule from the QS to work out the tax. No schedule no claim.
Regards
claire
