We used this lady for a rather complex property and business insurance (manufacturing & printing). Would highly recommend her. She even bargained down the price after getting the best deal.

   Erika Heletij | Aon Risk Services Australia Ltd

   Client Manager

   130 George Street Parramatta NSW 2124

    t: +61286234046 | f: +61292537747 | m: +614478490924

    e: [email protected]

I tried to get few insurance quotes myself first – called few companies and it was a complete waste of time. You spend an hour answering their stupid questions on a phone only to hear that they can not insure you because of some minor policy issue. Not worth the trouble. Just use the broker! 

Guess you already asked your family and friends before posting here. If they do not know anyone – this is how I’m, getting traders when I’m new to the town my renos & developments are interstate) Works like a charm each time:

Call the RE office from where property was bought/rented. (You do not even need to talk to the agent. A receptionist will help you).

Ask them for a contact of traders on their list, for 2-3 for each trade you require. All RE agencies have a list of trades that they work with. And this list if quick valuable for few reasons:

·         Those are the traders they currently work with, and think we’ll about. They will remove those they are not happy with, or are too expensive.

·         They regularly check their licences, insurances, and safety policies.

·         Traders who work for RE are used to work to the strict deadlines – must finish their work by Saturday opening house, fit it around tenant’s available time, et. It will be easier to plan things for you.

Mention to the trader that “such and such” RE recommended them. Good traders are always busy and booked out. Since RE’s are their repeated business – they will treat you as a priority, and will be a bit more accountable.

Get few quote in writing, and consider prices. But no less important when choosing a trader – trust your guts!!! If you can not communicate the trader, do not like an attitude, they do not pay attention during the quote – it will only get worth once they start the job!

I’ve been through this so many time and every single time I’m tempted to choose a trade I did not feel good about, but they were cheaper – things went wrong (it’s so tempting! $700+GST less for concreting. He’s an idiot. How bad can it be? Same concrete, same drawings. Right? WRONG!!!!!!! Just listen to your guts and chose the trader you feel good about!)

Also, when you find a good trader – ask him for a recommendation for other trades. Traders often work side by side on project. It’s just a human nature – we come along with people that are like us. A tidy, punctual and skilled trader is likely to recommend you someone who are alike.

I’m currently building 2 executive homes and doing one subdivision 1-into2 lots. 
Did 2 major renos and 1 development last year…

I’ll aim to do a larger scale development next – up to 10 apartments.
But have to finish my villas first!

I do interstate renovations and developments. Most of them in busy remote mining towns. I do not have any project managers – Their cost makes development unfeasible.

It’ really not as hard as it sounds! (and I’m just a normal girl with a common sence and can-do attitude) Don’t be scared off that easily. In fact treat all negative comments as a very good sign! There is a profit in other areas, because locals are too busy to bother with renos, and interstate people think it’ all too hard. You earn a profit by overcoming obstacles. In my experience an obvious obstacle is a god sign, as it scared most of people off! ))

Distant and even interstate projects are very much do-able. A bit of common sense, good communications, scheduling, treating traders nice, and a winning attitude all you need.

Most of my projects I’m flying in. I schedule everything to the smallest details, try to arrange as much work as I can while I’m away, then pack my bag with hummers, screws, masking tape, etc. and go! (I always wanted to see the face of a person who scans my bags at the airport). When I’m working on the project I’m often fly-in for 2 weeks, then go home for 2 weeks. I stay at the hotel, or in the house, if it’s liveable.

Treat the good traders good, have reasonable demands, pay them quickly. They will help you and will recommend their mates in other trades who are as good as they are. They will often put you as a priority, because you are out of town and do not have much time. It takes some effort to keep things on schedule (or as close as you can), but call, remind, confirm with everyone, mention when the next trader booked in, and eventually you’ll get there!

I was not able to find a feasible project in Sydney for a long time. Very rare you hear someone going well in Sydney with property (and it is always questionable). There seen to be some margin in upped market projects – but it is very uneven market and I can not justify risk. You estimate your return at +/-200K.  

I’m mainly doing interstate projects for this reason.

I chose to move our of my property, rent it our, and go on rent mysef. The area I like to live has a small rental return. As an investor I refer to my which gearing properties – they are usually one bedroom or working class properties. It comes to the choice:

• Buy a house for al least 1.5mln in my area, have undeductible mortgage for a very long time, land tax, etc., and hope that when one day I sell a property (which I don’t like to do anyway) I’ll have some capital gain tax free profit;
• Or, for the same money I can buy 3-4 highly geared properties (in few states, so land tax is reduces) that will basically if not fully pay for themself, use tax benefits, rent the best house in my area for $1,000pm and still much better off at the end of a financial year!

 By the way, because I do not have other PPR – my rental property has 6 years capital gain exemption. So I can use all tax deduction, but if I sell it within 6 years I can get exemption form capital gain tax. I’m much better off going on rent!

The cost of subdivision depend on few factors and be quite different depending on type of your subdicision (eg. free title, community title, common water meter, etc) 

The best way is to set us an initial meeting with a local town planer.
It will cost you about $100-150.  

Give them addresses of your prospective buys – they will tell you what you can do there and how much you should allow for a subdivision. You will also hear hips of very useful information – money very much worth spent!

Actually it's a good point.  Most definitely will use it!

Always keeping a record how much you can spend on groceries or going out is depressing! Takes all fun away!

Try to record for a week (honestly) all of your expenses. Sounds silly. But you will be surprised every single time you do it! It will show you where your money are waisted, so you know where to discipline yourself.

If you straggle with putting money aside at the end of a week – do it at the beginning of the week. Put 20% of whatever you are comfortable with on separate bank account that you never touch other then for investment reason.

Remind yourself what are you are saving for and do something about your goal every day (other then saving). It keeps your mind on track and helps you reach you goal.

My system is: 

• Walk through the house room-by-room and write down every single thing, no matter how small that you like to do in each room, same for the exterior & garden.

• Group expenses per trade or type (eg. all electrical, painting, total number of door handles to replace. You must end up with the list of thing to do for each trade and a list for yourself (if you do any work yourself)

• Arrange each group in order of work to be completed (egg. pest treatment, remove carpet, remove kitchen, builder to open up wall & replace windows, electrician, bathroom, kitchen, painting…)

• It helps a lot is you measure the house and draw a plan, as well as site plan. Sketch all your improvements, like wall openings, kitchen, bathroom and landscape.

• Go through the list again with your plans – you most likely will notice something you overlooked at first (eg. rubbish removal, fly screens, lawn fertiliser)

• Try to get few quotes for each trade. If you do not know traders ask your friends, family for referrals. If you are in a new area – simply ask the agent you bought a property from. Use his name when you contact a trade. Have a chat with each trade about what you can do to cut the cost down, and not just in their trade – you always will get some good ideas. Ask them if they noticed anything else you missed in your list.

• Work out the list of materials for things you want to go yourself and get a price.

• Add everything together and add at least 30% contingency. Something will always go wrong and will cost more. For the rubbish removal count at least triple of what you think it will cost – there always will be more rubbish then you can ever imagine.

After this – just try to stick with your budget. Small projects are easy. With large one, like major extension – it is easy to get carried away. Remind yourself constantly, just because you spent a huge amount of money $1000 is still the same value as it always was and will take you the same amount of work to earn it