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the tenant has periodic lease so would only need 30 days notice, so definitely won’t keep them, cause want to live in it. The amazing development is that the owner will not sell me his house and I offered the full askin price. I have an unconditional sale on my current ppor and finance is not an issue. Guy will only sell it to me now if i offer him an extra 5000 above the askin price just in case my sale falls over and he gets left with an untenanted house.
I always thought that if a house was on the market then the owner would be willing to sell if they got what they was askin for.
No wonder I usually build houses instead. Hopefully soon I can find someone who wants to sell there house in Perth under 300 000, i have 6 weeks until this house settle so am running out of time to get a simutaneous settlement on another house.
Yes Perth is Mad
Saturday offered 20 000 more then asking price on a ppor/reno, found out today that I missed out because the owner was more sympathetic to the solo mum with 3 kids who offered 5000 less
(but on other hand was nice to see the lady find a home for her and her kids too) Agent was acting dodgy by telling me how much other person was offering, which I know is illegal or unethical at least.So today I had a quick look on net and found a house that had been on market fro about 6 months in Perth and amazingly they had dropped the price cause they couldn’t see it. Problem was tenant would never let people come thru house so made it difficult for owner to sell. So actually put in an offer site unseen and got it for a good price. Thank goodness I just drove past the house and street looks nice which was a relief.
yeah i sold my ppor for an extra 10 000 then what i was askin for it and sold in first week, pity the old g/f gets half of it. But is great finally get to do a reno
Thanks David
That answered my question on the vehicle finance.
Now due to my partner and I being self employed since the start of this year does that rule us out for getting a traditional construction loan.
Would we have to use a low doc product since we have not been self employed for two years. We are self employed but receive set payment amounts each week apart from when there is a public holiday or we have a day off.
I have just moved into one I built in Port Kennedy, now have all the fun of painting. Took 8 months from slab going down with WA housing centre. Have to decide next whether to build again or buy an IP to hold and reno. Still a bit of money to be made building again I feel just a matter of locate reasonably priced house and builder
AUSPROP
Do you ever live in any of the houses that you build?
With the land estates around rocky and baldivis do you know how long it is taking to get titles at all?
If my partner could handle renting again (just finished renting for a year) this is what I would personally do in Perth.
I would either sell my house or stay living in house if I could afford to. Then I would buy a block of land that has titles available and also buy a block of land that is at pre release stage. The pre release one you can usually get alot cheaper and would take about 6 months for titles to become available if you are lucky.
I would build a 4*2 200sqm house on the first block. Once this house is completed I would move into it and sell first house (could rent it out) if not already sold. I would then start building on the block of land that I brought pre release, 200sqm 4*2. Once this one is finished you could sell the house you are in (preferably after a year to avoid capital gains tax) and move into new one and continue the process.
The downfall of this scenario can be you may feel like a gypsy and builders are so unpredictable in Perth at the moment.
Sounds like a good technique. Could always tell them that I am in the process of another couple of developments and will have to look for another builder next time.
Have tryed speaking to management, but they had forgot to tell me that they had restructured and moved there office, so turned up to the meeting and the manager was located at a different office.
I will have to try and arrange a meeting with Len Buckridge but not sure if he would be interested now he is selling up
Hi Michael
Have you ever read a book real estate riches Dolf de Roos (one of Robert Kiyosaki’s friends)
I am sure that he uses a fairly similar property philosophy.
On my recent house I spoke to the brickies and half of their problem has been retaining a brickies labourer. On a job that the brickie said should take 6 days it ended up taking 3 weeks as they went though to labours just on the one job. He said he had been though 4 labours this year, so I guess this must add to the delays.
I would imagine that the brickies often pay that labourer as little as possible so they can keep the money for themselves
Hi
A battle axe block is often when you have a block that is say 800sqm and the owner subdivides the block and builds a house on the back half of the block with a driveway down the side. Looks like a battle axe
How does one go about fighting beaucrats who commence all statements with “We believe …”. How do you change a belief ?? Beliefs are fundamental and by definition cannot be challenged. You can present as much data and logic as you want, people simply repeat their mantra “We believe …”
I was reading this post about BGC. It draws up a interesting comparison. How does one go about fighting beaucrats. With BGC at the moment I have been wondering how you would go about fighting BGC to finish a house. Hopefully Len sells up once all of our houses are finished.
I wonder if the building delays in WA would of been so bad if BGC had been allowed to build there brickworks
Hi
I have what seems to be a generic building contract which says that the builder will pay liquidated damages at the rate of 20 dollars per day for each day beyond the due date for practical completion. But it also says the builder shall not be resposible for any delays in commencing the work due to labour and material delays etc. Looks to me as they cover themselves well.
Contract says house should be finished within 145 working days from slab going down. For months I have been trying to find out when exactly this 145 working days is up but no one at the building company seems to know. Contract administrators keep leaving cause always get abused. (no it wasn’t my fault).
The funny thing is rang them today and they seem to be trying to get the roof and tiles on within 2 weeks.
Hi
I was wondering if anyone has ever had any luck with builders paying compensation once they have gone over there contract date.
Thanks
Wayne
Originally posted by Derek:Hi Seano,
If your builder is licensed then I suggest you give the people at the Master Builders Association a call and see what they advise.
A standard building contract will stipulate the building period but be aware that is stated in working days and doesn’t usually allow for issues such as ‘wet days’, rostered days off, delayed materials etc – well according to my builders anyway [biggrin]
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
I have been talking to someone who is currently doing a few lease options in Perth. I would be paying rent with an option to buy in the future. A component of this rent would be building equity in the property. The figures look pretty decent.
I would undertake most of the work myself eg painting, landscaping, flooring and probably bathrooms. I would be happy to pay for all materials that are used, as I would get the benefits of these if I undertook the option. Or say if the owner chose to sell the house once it was renovated could maybe be reimburse for the materials or something similar.
Hopefully this is a successful idea seems to be a bit of feedback with it
Thanks
Wayne
Thanks for those replies, shall give more details on this idea.
I am currently building my second house which I plan to do up and sell or maybe rent out cashflow +ve.
In the meantime I am having to pay rent while the house reaches completion. I didn’t realise at the time when I sold my previous house that I could afford to live in that house until the new property was finished.
So I am currently not enjoying renting someone elses house so was trying to think of a creative way to buy another house.
A lease option sounds like a way I could live in a house that needs minor renovations (paint, carpet, gardens and maybe kitchens and bathrooms). So could possibly enter into a lease option with someone who maybe had a negative geared property that needed renovations. Could pay them above market rent in the meantime and offer an option to buy the house say in a years time at a predetermined price or a share of profits from the sale.
Sounds like a win-win situation. I would get to live in a house that I could treat as my own (within reason) and would have the challenge of doing the renovations. The owner would of turned their negative geared property into cashflow +ve and would have a motivated buyer down the track and a reliable tenant in the meantime.
Wayne
My partner thinks that I am contributing to Steve McKnight’s and Robert Kiyosaki’s retirement funds by buying all of their books. I think that if we got rid of Foxtel my partner would be more motivated with property.
If I was building a house purely to live in would probably pay more to get it built quickly. This current one is more for investment purposes. Keep costs down, live in for a few months paint and landscape then sell it and double up next time and build two at a time. At least while the house takes ages to build the property price in these beachside areas keeps escalating
Not enjoying renting in the meantime though but the delayed gratification is worth the wait.
Thanks
Wayne
