Forum Replies Created
It does take a long time so I guess you weigh up weather it’s worth getting someone to do it or doing it yourself for free where it will probably consume a lot of hours-days-weeks even months. Surfers that cruise along and judge web sites at the click of a button have no idea. It’s more difficult then most people think or are aware of. Particularly html and what you’re working on!
I know I pulled a lot of hair out learning how too.
The pdf that pops up that he did is very good! A lot of work done in that alone. I’m sure most people don’t judge by a spelling mistake I’m not a great speller myself but I know I have read Steve McKnight’s book and others and you come across spelling mistakes, you always see them somewhere and in the newspapers.
Easier to piont out others then your own!!
For that web site which is a classic ‘Set and Forget’ web site $300.
Which is in a format that presents the basic information.That would be an all-encompassing package!
Site registered $15 .com (year) $44 .com.au (year) $10 (month) for hosting and handling and the remainder $165 would be the web design and administration and all the technical side to getting it all together.
I guess that would include running the text through a spell check to keep everybody happy.
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Jaffasof.comOriginally posted by PaulDobson:Sorry, no website. We’ll have to get around to that
I can help you out with that it’s pretty straight forward for a ‘Set & Forget’ web site.
Oh, that’s good. Thanks cata and thanks for looking over my form.
Why do I need to get another TFN?
I recently walked into H&R Block to see about doing some tax couple other things I wanted to know, Trust structure ABN etc.
And the polite little girl said take a seat. I had an appiontment. Half hour later I was still sitting thier.
So I up and told them that “I will not wait any longer” as I progressed to walk out the door, leaving the girl behind the counter speachless. She just staired at me and never said anything!
Think I should be sending H&R Block my bill for the time they made me wait.
Thanks for your replyies because this sort of thing I got to tell you I don’t know that much about.
I think what you’ve done RedWing is down the track of what I want to do i.e so that it has the right options.
“All form of Investing” Yep that sounds like me I’m just a common bloke that wants to do a few reno’s and devolping a unit or two and a house or two.
Also web design services so software related, looks like I will be making web sites for related businesses in the industry.
What’s a TFN?
That’s good that it takes 28 days as I don’t want it to effect a taxt return that will take 6 weeks. Even if it don’t effect it I dont know? but for 28 days I know it wont.
I know I should seek an accountants advice and I won’t take what you(s) say as advice but will be good to get your opinions on it so I can get a quick education on it.
Couple things I couldn’t seem to make much more sence on even in the help files was the bit about petrol because i will be traveling a bit as I already do that and the bit on the trust entity thing.
Yep it was the abr web site and for the most part was pretty easy to fill out just a couple of things that I was not sure on.
This will be the ABN for http://www.Jaffasoft.com
>>Do you have to consider property management fees in the calculation? Do you just assume that since the property is already tenanted you will not require a property manager in this instance?<<
I kind of did really, but I calculated it for if I purchased it, then I would project manage it myself which means I would also line up a tenant. So if you we’re to get it done by a property manager you would simply add that 7% of total rent in.>>- When considering property managers, do I have to take into account their letting and re-letting fees (if applicable), which are around 1 week’s rent, in the cash flow calculation.<<
I generally don’t or if there is any ask the agent to include any costs into the 7% they are getting. Negotiate it or go somewhere that will do it! Even see if you can get it for 6% everything is negotiable. Remember that property could have its rent bought up so this could cover if you have a property manager. It’s not bad +CF anyway.
>>- I noticed that you assumed that no quantity surveyor looked at the property. I guess a property like this would be too old for any significant depreciation benefits huh.<<
Not sure about this perhaps I should have included it. See the depreciator about that. Though can get a no obligation free inquiry! Interested to see what you can find out as may be able to save a few dollars thier. This is something I would do after purchase!I didn’t consider this as a share house, though on the face of it it may seem that it is. I think it’s just the situation that it is in atm I would look to getting it back to just renting a normal house because the place and the area would suit a working couple and with family.
Can anyone rack their brains and offer creative suggestions on how I could have purchased this property?
$13750.00 is correct.
Use my online calculator for all that property stuff http://www.jaffasoft.com I recently checked it again and for every state and every possible combination to which their are hundreds it is precisely correct.
I challenge anyone to find an error!
No, I did not buy it but I wish I could. I just drove over to have a look at the auction just to keep myself active in the market. It was a fella (couple) their that ended up buying it after the auction I don’t know them.
He seemed to be the only person that was genuinely looking to buy something all the others appeared to be members of the family gathered around to build numbers up in the auction. But there were only about 8 there. Not a bid made and property was past in ten minutes.
Vendor was some eight thousand in arrears on the council rate payments and as the agent put it, “In dyer straights financially”. The vendors brother in law was their and I heard him say, “The vendor just owes all this money and has just %4&cked off and well take 100 to 140 for it”. Was only on the market for the four weeks advertised until it auctioned.
Would you buy a property like this World Changer and what are your thoughts on this transaction and others?
It is good! And I’m happy about it because I get happy about it when I find one.
“This is a Modern Day Era Positive Cashflow Property Investors Dream.”
This web site does not let you put photo’s up so I have put photo’s up in my web site of the house and inside as well. I also put a bit of text in their having a go a people for not networking to take opportunities like this!
This is the numbers and this is for using PI loan @ 7.5%. And not taking into consideration what can be done to both add value in the form of equity but also the rent increases that can be made not to mention the extra bit of cash in rent increase from some improvements to the Bungalow. The fella that bought this got 25 grand in equity straight up!!
Rent = 280
Occupancy rate = 100%
Solution = $140000.00
Asking price = $135000Closing costs:
Deposit 20 % = $27000.00
Legal fees = $800
Stamp duty = $3760.00
Mortgage app fees = $475
Mortgage insurance = $0
Valuation fees = $0
Other borrowing costs = $400
Clean up costs = $0
Inspection costs = $300
Other costs = $0
Total closing costs = $32735.00Mortgage details:
Loan P&I = $108000.00
Interest rate = 7.5%
Term = 30 Years
Weekly mortgage repayments = $174.27
Total repayments for life of loan = $271854.00Annual costs:
Management fees 0 % = $0.00
Letting & advertising = $0
Body corp fees = $0
Rates = $800
Utility rates & fees = $0
Insurance = $350
Miscalanious costs = $0
Land tax = $300
Maintenance 5 % = $728.00
Other ownership costs = $0
Total annual costs = $2178.00Summary:
Total annual rent = $14560.00
Total annual mortgage = $9061.80
Total annual costs = $2178.00
Total annual cashflow = $3320.20
Total funded costs = $32735.00
Risk free return = $1309.40 bank interest rate of 4%.
Annual Cash On Cash Return = 10.14 %
Cashflow Positive Weekly = $63.85.
Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.Originally posted by Pursefattener:I was at a friends house last night who has skype and also uses engin.com . I’m going to have to get my act together and get setup with a router and headphones .
That’s the way.
Amazing . I remember not that many years ago you had to be rich indeed to call Europe…When I was young I used to call my folks collect and you could feel them shudder down the phone !The phone companies can no longer take advantage and hit the hip pocket as much as they could.
Bye Bye Telstra.
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Heaps of new things added May/June http://www.Jaffasoft.comYeah, it’s great I’ve had a lot of fun, I was in the grossrealisation household the other night and it was great fun.
Well I was not in the household but i was in thier in sound.
I new you had it Terryw as I did a search and you seemed to be the only person that had mentioned it in any text in the forum when I did a search for Skype.
Sure is brill.
Let me know I have literally hundreds on my Joint Ventures Subscription just waiting for a creative way to put to more use.
They subscribe for these sorts of possibilities.
If there is something in it for me as well then we can work something into it.
I am also pretty handy around the construction site but rather a more administrative roll and get in a do a few days work on site on the ground where ever.
I would prefer to be out of the city but will see what happens.
Talk to me and send an email and we can see what we can put together to offer money partners over the coming months.
Have you got http://www.Skype.com look up username: Jaffasoft for a free call.
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Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.I might be going to auction one of these on ebay.
Then I might have a couple more.
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http://www.Jaffasoft.com
‘where smart Investors count thier money for noth’en and thier clicks for free’Mildura gets 12 inchs of rain a year.
I been here for a month and a half now and it’s been sunny just nearly every day you can relly on it being sunny nice sunny days every morning.
Just from out of the blue been three days of rain. That’s filled the puddles up.
They got 25ml in the last few days that’s great for the wheat.
Look out when they get a bit of sun now they will go like mad.
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Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.Originally posted by chrisconuts:I disagree. The first home owners grant is only available to someone who hasn’t owned a property before, once you have owned a property you aren’t eligible:
From http://www.firsthome.gov.au/
“Neither the applicant nor their spouse (or de facto) must have owned and occupied a home after 1 July 2000.
Neither the applicant nor their spouse (or de facto) must have claimed this grant previously. “Chris
Mortgage Hunter knows his stuf.
What your describing is right for a “Home” that’s not an investment property!
Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.Plus if you use the grant you don’t need to live in the property until one year has lapsed after the settlement date.
So you need to move in and technically live their for six months starting within that 365 days. So can move in on the 365th day!
But their is exceptions to these rules and the year can be extended and so can the six months that you are required to live in the property can be shortened if you provide reasonable reasons why you can’t do it.
Just letting you know as food for thought as you weigh up the options.
Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.Agent in Qsld wouldnt let me use ‘and or nominee’.
Couple year ago.
Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit development near Sydney International Airport and there all Positive Cash Flow, 43M resale values, 25/06/2006.Yeah the auction.
Yep that’s exactly what happened refinanced with the lender at the last minute.
Just seeing if anyone was on the ball Terryw and you we’re right on the money.
The guy owns the pool business next door too. Maybe not many pools being installed this time of year…. and this might be causing him to get into financial troubles…don’t know the full story.
Agents sales pitch was, “Roomer has it! Owner will be selling up the business next door soon as well.” This was before he refinanced.
If the business next door came up and was suitable for a buy then it would be about six titles including the corner block probably best suited for units then.
Oh well it’s over now. Learning, learning good stuff to learn on.
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Positive Cash Flow 91 Unit Development Site Sydney. Be involved and learn as we try put the deal together! http://www.Jaffasoft.com
