Celivia, it depends on if you’re redoing the kitchen, or just cutting some space out for the dishwasher. Or providing one that is on wheels.
I’m about to redo a kitchen in one of my properties – as a reward to the tenant (who’s a friend/workmate). I bought the place almost 2 years ago cos she was upset at work that she’d probably have to move house again, and move the kids schools again! I asked would she stay for 3-5 years, she said absolutely. In those 20 months, the property has gone from $131K to $225K. If it weren’t for her there’s no way I would have bought this place. We’ve just installed timber flooring throughout, and will now do the kitchen – out of the money that my tenant ‘made’ for us. Plus her rent will still cover the loan.
As for other added value – good light fittings or recessed lights. As Dolf says ‘electrify the curtains’. A friend has curtains where you push a button and they open – so cooool![]
Put in extra telephone jacks. Clear house numbers on the street and the house. Sensor lights at the front door. Security screens at fron door. New front door. Automatic lights inside closets (like the fridge). Barbecue area – get backyard blitz or ground force! Electric garage door opener. Burglar alarm. Videophone. Keyless entry – swipe card or numbered entry (also easy for when tenants leave, change combination). Free internet access.
OK, I’ll stop cheating and giving Dolf’s ideas now.
Not sure what you mean here madeinoz. When the real estate agents put ‘under contract’ over an ad or on the sign, it means that contracts have exchanged, but settlement has not yet taken place. Once contracts are exchanged, you cannot then buy it, unless something happens or there are ‘subject to’ clauses which are exercised by the purchaser.
St George had one similar. I’ve now had two phone calls from them the day after I’ve transferred a couple of thousand between accounts asking did I do that as a random way of checking if people have been had.
Last night was the first time I had watched for more than 10 seconds – I was at my folks holiday house, so had control over the TV[][]. Cosima’s voice was certainly very, shall we say, sick sounding? I think her throat must have taken a beating or something.
I didn’t hear Shannon singing One until the final bit at the end, but I really didn’t like his version. The judges all heaped praise on Guy, and the long haired guy (Dicko?) I think just flat out told Shannon that he can’t sing the low notes, and shouldn’t go there. They obviously know that what they say has no real bearing on the votes either, from what they were saying. I thought Guy had a great voice, but (and I know lots disagree) I don’t really like his hair! Hope he wins though.
The only reno I’ve done was a bit of paint, and a new kitchen, so I’m afraid I’m not much help.
For books on renos, have a look at the API, at the back of the magazine they list a whole heap of books on various subjects – and the Reno Kings feature in some articles every month.
wrxboy, if your major concern is thet potential structural problems, the first thing that I would do would be to get a good building inspector to have a look and advise as to future issues. Then take it from there.
I believe that there is nowhere in the Bible that says we should be poor. I’ve also been told by some who study it that there are passages where basically it says that God wants you to be rich.
Paul, even more of an example of why we are a good match. The wedding would have to be done by a Catholic priest (preferably in Church to please my Mum), so that’s another hurdle crossed…..[]
Platypus, remember that Robert Allen also often says ‘A confused mind says no’. In this instance I would suggest that this is what has possibly happened.
Once you have signed that agreement with the Agent, you can’t get out of it unless they agree to let you go.
If that is $708 per quarter BC for all three inclusive, that is fairly cheap. I am paying in some instances more than half that for only one unit. If it’s each then – ouch!
If you do refinance to pay for the refurbs, the interest is still tax deductible as it is for investment purposes. I would definitely be looking at increasing the rent after this though.
That way it’s no out of pocket expenses, and hopefully the rental increase will more than cover the extra loan payments.
I don’t know if you’ve looked at cleanses, or wheatgrass juice or any of that sort of stuff. But when studying with Tony Robbins they give you all the health stuff – literally. To help get rid of all the toxins in your body, irrigation is really really good, and then you consume all the good stuff.
In fact you do need qualifications to be a PM for other peoples property. The minimum a PM needs is an agent’s representative licence. But they need to work for someone with a full real estate agent’s licence. This does takes much study and a number of years of experience.
You need a trust account which must be audited because you handle other people’s money and professional indemnity insurance.
It’s not as easy as it sounds.
Michael Yardney
Michael, I was not suggesting it was easy to go out and run your own agency. In fact I specifically mentioned that you had to work for an agency – and let them have the hassles.
As for the qualifications, obviously each state is different, because I could walk in off the street tomorrow and become a property manager for an agency here.
I also mentioned that to be able to run your agency you had to be licenced etc., and I know it’s a few years study, plus a few years experience – hence my plan to ‘hire’ somebody else’s quals/agency.
I don’t know about the dinner, but definitely the airfare and accom is claimable, provided the purpose of your trip was the property, and you’re not staying up there for a week or so. Speak with your accountant to clarify – they have much better info than friends I have found out.[]
Fixed Term Tenancy just means that they have a signed lease for x months. Ie it’s not a month to month lease. I’m not sure about the rental though – I though it was x months from the last rise rather than the signing of a new lease. I would ask the new PM that you transfer it to about that one.
Hey Pinky, if the account is in your name etc. etc. how come you had to change the kids’ addresses?
Next time just ring up and say we’re moving house and these are our account details.
Our internet account is in my friend’s sons name – he moved back home, they had ADSL, so i took over his Telstra connection. I rang up to query the bill, gave the account number, stated the problem etc. She then said, ‘You’re not the account holder, is he there, I need to speak to him’. (Obviously I mustn’t sound like a boy!!). I said ‘I haven’t told you my name, how do you know I’m not the account holder?’. She then asked my name and I said it’s Chris Bloggs. I think he gives Telstra hell all the time, cos her tone immediately changed, she couldn’t do enough, and couldn’t get off the phone quickly enough!!
Long story to say, just pretend you are them – like with me they couldn’t say ‘you sound like a girl’ cos then I’d have EEO or whatever all over them!![][}]
2) makes more sense with the additional info. I was thinking when I read your first post that you would need a seriously flexible/happy person to rent from you full time who would allow the holiday renters. I don’t see why it wouldn’t be legal. It would just make for some interesting explaining to your accountant![]
1) Runs the risk of the bank working out what you are actually paying anyway, and only lending based on that value. You also pay more stamp duty on a higher price. Do you not have the costs from your refinance of your PPOR to use? Or are you just trying to squeeze all you can out of it? I do agree with Bill on this one – it makes it a lot more complicated.
Cheers
Mel
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