Thanks Terry & Jo,
Just after some comparativre rates before querying the PMs’ over here why there are so many add ons to their charges.

THanks
KP

Thanks John…got the PM and have replied.
Hi Marisa,
They’re in Melville shire same as the other two under construction.
Its nice to “hold and keep” in theory, but sometimes other considerations come into play ( read…financial) and hence the decision to sell.

Basically the first sentence, hints at the problem…current construction has been…[Read more]

Hi Marisa,
So if prices of similar props have soared, has the price of yours also soared ??
Sounds like a happy ending story to me.

Heres my happy ending story…
Completed 2x 3bed 2 bath units April last year. Sold one straight away for full asking price $299k
Sold the second one last week (rented for 15 months) for $305k.
Conclusion from this:…[Read more]

Sonja,
Why not owner build the PPOR and use a builder for the duplexes ?

KP

Anita,
Good idea with the direct debit from the creditcard…

I called the bank to cancel a direct debit from my card to an insurance company….their response, they can’t cancel a direct debit on a creditcard, it has to be cancelled by the service provider.
I had to contact the insurance company and request they stop direct debiting from my…[Read more]

A workmate just related a story to me about giving tenants a gift.
Tenants were moving out, landlord left them a bottle of wine to say thanks for looking after the property.
Did a final inspection and noticed that the lounge susite had been rubbing aginst the wall and had worh the plaster away at the height of the top of the 3 seater.
Requested…[Read more]

Hi Jo,
I know I have asked the question before, but can you clarify that the fee you quote includes:
a Property Condition Report when the tenant first moves in, and the ongoing quarterly inspection fee (if applicable), and the annual statement ?
ie…no other costs to you apart from the 5% management fee plus 1 weeks rent as a letting fee for new…[Read more]

I guess your post was written to some extent as tongue in cheek.
Property investing does not have to be an experience which involves working in a shark infested market.( not my experience to date)

And anyone not living in a capital city does not automatically qualify as being a hick, living in hicksville.
Even if there are hicks out there who…[Read more]

Hi Wayne,
Excuse the tongue in cheek reply earlier.
Seems like you have had plenty of response anyway.
As mentioned already, the evap systems tend to lose their effectiveness once humidity goes beyond 80% and also once temp goes above approx 35 degrees.
Hence no evap systems installed in places like Kalgoorlie and up north..only refrigerated.

The…[Read more]

It will cost you less in total if you leave the house in place and add one more, but this may impact on the value of the final development ( you only need to build one, and not two new dwellings, but the value of the new dwelling located next to the old one may be lower than if it was next to another new one )

So depending on your financial…[Read more]

Wow !!
How good was that reply ?
I suppose that story is applicable to any inner city apartment development in any Aust city as well ?

KP

Sounds like Su* Mo@#^*ff and you’re near Attadale…

Just be aware that all these “overseas buyers” usually don’t have approval to buy established real estate under FIRB guidelines, unless they have Australian residency.
You may wish to clarify this with the agent before you sign a listing..

KP

OMG !!!
Don’t do it Wayne !!
You’re adding one more air cond that Western Power can’t cope with before summer.
Blackouts in Feb for sure.
And with a state election due around the same time, your air cond could be the straw that breaks the camels back, and causes a change of govt..can you live with that on your conscience ???

KP

Wonderful info Jo,
Noticed that all the Pilbara mining towns featured on the list. (except the two largest ones)
Interesting how the miners are all shipping record tonnages with declining populations. DIfference is made up with fly in fly out workforce, and the towns are indeed in decline..

KP

WOW !!
This is really a “how long is a piece of string” question.
Your best bet would be to enquire with some local builders for a price range.

HINT…also, its better to run the plusses and minuses on paper or a spreadsheet and not in your head.
Also, keep in mind that you make your profit going in (when you purchase) not at the other end. Make…[Read more]

HiTaf,
Can you expand on the various costs.
Eg…subdivision costs ( strata or green title) Demolition if reqd. Fencing and landscaping.
And finally, how did this stack up to new market value ( did your equity position improve after completion comapred to before you started ??)
Just curious as I completed one last year as well, and currently have…[Read more]

If you went to your local branch of one of the big banks for a property purchase in a regional centre, they will always contact the branch in the regional town for an opinion or a drive by appraisal anyway, so you would not have a problem organising finance at your local branch.

Also, these places are not quite boom/bust anymore.
There is a…[Read more]

OK …I was in a funny mood yesterday ( over it now)
It was a tongue in cheek comment in reference to what some gurus preach about how you go about speeding up the process of property acqusition, etc. and how some ppl might blindly follow such advise.
( Someone by the name of o be one jakobi… or something like that, his courses and tapes are…[Read more]

I think you need to come to agreement on a settlement figure ($$) so there is no claim in the future by either party on either one’s assets.
And thats an official agreement that is court approved.
Once again, personal experience….

Good Luck,

KP

TOO EASY…to be sure, to be sure… Monners,

Grreg had a good point that the finance clause should detail the name of the lender, and as such if they reject the finance application, then there is no compulsion on you seeking finance from an alternate lender.
Hence the contract falls over, but the vendor or their agent can demand that you prove…[Read more]