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i normaly just get a bit of paper and add everything up and work out esactly what the property owes me. Iam not bad with numbers so i can normaly work everything out in detail rite down to the last cent.
try pen and paper
Bootlace wrote:The car i'm currently driving is a 1999 Holden Commodore S Pack factory supercharged.I saw it advertised on Ebay just after it was listed with a starting price of $1800 and i emailed him hoping his reserve would be around $4500-$5000 but not really expecting it to be…. I then got an email back saying he would sell it today for $1500! I dropped everything and hastily made arrangements to go up and inspect the car, i got there and it was absolutely immaculate besides a tiny amount of the usual paint fade on the spoiler and to top it off, it was a one owner car with full logbooks which wasn't even mentioned in the ad! I did a REVS check and couldn't hand over the money quick enough!
For roadworthy it needed a new steering rack (60000km rack off Ebay for $70) and 2 engine mounts (about $100) and it took about 2 hours of my time to fit. So for just over $2000 including parts, repairs, RWC and rego i got an immaculate 1 owner car that is worth around $8000! ($9500 according to my insurer). Just the engine and box alone are worth around double what i paid for it.
By far my best ever bargain, i just wish property investing was that easy!
That is a very good buy
be in control of the property and save thousands on pm fees
nock nock are you there steve
Thanks for all your reply's. yea i wouldn't stand them up on my own i would have several guys helping me for those days but my main question i needed is what wade awnsered about $130 psqm for the slab side of things as ive had quotes to do start to finish projects which i can do, but nobody would supply me the tilt slabs on there own and they would not give me a price for just the tilt slabs,
Wade who would i contact to have these made up?cheers
rd, rip the kitchen out but go see a commercial agent first or actualy go see a few com agents first and see what they have to say. as for doing a refurb normally the tennants fit it out to how they want it. but it realy does depend on what the property looks like today
Thanks diypm, thats not bad
DIYPM wrote:Hi aaabbbccc
I'm not sure where you are located but I will tell you my story:
I had 4 units built on an 1100m2 block 1 year ago in Toowoomba, Queensland. (1.5hrs drive west of Brisbane) The building side of things including absolutely everything (council fees, etc) was approximately $580K. The initial purchase of the land is not included in this. I had a house on there which I rented out while waiting for everything to fall into place. When I was ready I sold the house , which was removed for $5K. I would of given it away as it was going to cost me $10K to get it pulled down.
I employed a well known, respected builder in the area. He wasn't the cheapest but well worth the extra money. I chose this builder because he was easy to communicate with and answered my MANY questions thoroughly and patiently. It was my first development and I was very green and also pregnant!
The units took approximately 6 months to build from the time the plans were put into council. I strata titled the units when completed which took another 6 months due to a few minor things (page numbering one of them!!)
I was told to allow 30% of the build price as a buffer in case things unexpectantly came up by my solicitor. Some things that unexpectantly came up:
The surveyor made a mistake which cost me approximately $3K. There was a back retaining wall which was on a very, very slight lean toward my property and the council insisted that units 3 & units 4 be moved closer to units 1 & 2 which meant a slight variation in the plan. There was extra money for the electricity because the electrical company only provided the connection to the street, same for gas, $3K. There were a few issues with strata titling which cost approximately $6KI found it very hard to get finance for 4 units. I ended up getting a commercial loan at a higher interest rate. The feedback I received from the banks was that you can get a residential loan for up to 3 units. (so you will probably be o.k) Also the local council required one unit to be an adaptive disabled dwelling because I was building more than 3 units.
I would do it again but I would probably stick with a duplex or triplex next time, until I find it in me to build a highrise! (-:
Find a builder you can trust and it will be alot easier for you.
DIYPM
diypm, could you tell me how many sqm each unit is or the total for all 4, also how many bedrooms and bathrooms each unit has. I just want to work out what it has cost per sqm
Thanks
Fergs wrote:Thanks for sharing that, im just finishing the book $1M worth of property in 1 year with the MAP program, the more I read it the more I see its a possibility to buy property with little funds. Ill be investing in shares in the mean time to raise capital…Hi fergs, how do you buy property using little funds, how did the book describe to do this,
cheers
Anon, hi what i was meaning, if you broke up for several weeks and you were not boyfreind/girlfreind then i dont see any reason why you can not claim your $14k as you will be single and you have never claimed before.
linar does have a point too.
but i would ask your lawyer or accountant and see what they thinkLinar wrote:keiko wrote:who would no if you are boy and girl freindWho really knows what your income is when you enter into a low doc/no doc loan? Does the ATO really know what your income is when you are self employed? But declaring something that isn't true on a legal document is committing fraud and if you get caught, you will pay the price.
When considering whether you are boyfriend/girlfriend, imagine someone asking one of your friends or your family members what they think. If friends/Family consider you to be in a relationship, you are in a relationship for FHOG purposes.
a low and no doc is abit different i would of thought, but back to the boyfreind/girlfreind miles well break up for several weeks to get the $14k grant then that would have to be legal
who would no if you are boy and girl freind
drsupachicken its just an average deal. theres better out there, but then it does depend on the property as well if it will give you realy good cg down the track it mite be worth it
If it was me i would be offering $1.1 and try get it for $1.2 that way if the market falls further which it will you have a good buffer and you will not loose out. theres plenty out there for sale.
as for prop 2, same deal, you never no what deal you mite strike, alot of agents talk shxt not all but alot. go and see the agents in person and ask if they have the sale and purchase agreement papers on hand if the agent says yes then say you would like to put an offer on paper, more than likely the agent will ask what the offer is before pulling the paper work out. when you say $1.1 they will probaly say no thats to low they have had an offer for more than this (yea yea why didn't they take it then if they were so desperate) just say you would like the offer presented anyway and they can do a counter offer if they like. by law the agent cant say no but they do.
if the agent wants to make some money this week they will take that offer to the vendor. some agents are not keen on making money they just want to run round town selling nothing and just collecting cobwebs on the vendors listings. dont ask me whyand to add on to the last comment. dont forget if the house goes into your name you will get struck with stamp duty. so you mite be better to leave them in each of your names and convert them to ip, then you can still borrow the equity to buy your new home.
anythingspossible. is cash flow positive possible, yes it is in todays market. will there be times when it won't be, yes when there is a boom but we have just come out of a boom.
what are the risks, that depends on alot but yes there are risks just like anything.
if the interest rates get too high and you cant pay your mortgage the bank will take the property and sell it, if it sells for less than you owe the bank then will come to you and make you pay the balance.
yes definitly invest in the city, banks will loan you money easier than if you buy in the bush.
do what you think is best for you and don't always listen to what other people say because more than likely they have not done what you want to do.
there is lots of cash flow possitve properties on the market at the moment and people will go and buy plenty but when the rates rise they normaly go broke because they cant afford the mortgage payments.
i only target property with 10% plus nett return and then when interest rates are high i can still cover my mortgage but if the rates go to 12 14 15 20%%%% then i will more than likely go broke but i will be around longer than the people that have bought 6 and 7% nett returns.duno maybe stay in the retirement home and pay the rest of the stay them selfs as i would be thinking the place there in at the moment will be run down. otherwise offer cash as they may be able to stay with family and go on a holiday on that cash, ya just dont no till u ask
duno maybe stay in the retirement home and pay the rest of the stay them selfs as i would be thinking the place there in at the moment will be run down. otherwise offer cash as they may be able to stay with family and go on a holiday on that cash, ya just dont no till u ask
lightyrs, if you want a good old reliable car get a holden VL 86 87 88 ive owned heaps of them and theres very little that goes wrong with them. if you buy one make sure its of an older guy and its straight. if its beat up then it will give trouble. get the 3 litre there nice to drive
