Forum Replies Created
Development assessment…
I see why you are in this forum…There’s not much fun with ticking the boxes for the development assessment (my current job is the Urban Designer / Architect )
But it’s a greatest skill ever – hope you are taking a god use of it!!!
Cheers,
$10 increase is the standart rate change.
Those people got the new kitchen!
Preferably you should increase the rent by at least 10% of your investment cost – otherwise you wasted your money.How much did your kitchen costs? (even if you did it yourself – what is your time costs/)
And don’t forget to increase their bond as well.
If they ever move out get the cost of gate repair/replacement of their bond!!! They made a damage.Cheers,
I don’t know the Adelaide, but I would look if it’s a good area and if duplexes are typical here.
If that’s the way the life in Davoren Park in like ( I mean you think about Davoren Park – you think about a duplex or a terrace – so what the problem?
If you duplex is the first in the fires here I would warry a bit.
Cheers,
When my passive income is 50% more then I’m currently spending.
Not that much – hah?Cheers,
Belair doesn’t sound particulary atractive to me…
But I hear that was the story with Beverly Hills…
Not sure they reached the price they expected when they names the subburb. But they say it get betterCheers,
We did it in our IP when we took it for sale. Looked good.
Stick with the recomended primer!!!
Paint wouldn’t last forever,. And it’s life expectancy will much depends on how hard your tenants will scratch it when cleaning.
The next time you will need to spent hips more time on preparation.But it’s a good and chip value adding!!!
I recon it worth it!!!Cheers,
Don’t have a personal experience, but a friend of mine was renting her Blue Montains property over the eBay on short lease untill she sold it.
She had almost double rent, but had to organise a house keeping, etc.
Cheers,
Well… I know the answer exactly…
If you don’t like your financial situation – the only solution is…
(wait for it!.. ) minimise expenses and increase the income! That’s it! Easy!Did you know all the unswers? No really, do you expect to hear something new? The hard part is that you actually have to do something about, or just leave it as it is and complain about your life.
1. Try to increase profit from the property (but usually you have to invest s in first to increase value)
2. Rent your house and move on the rent. Weather it’s a PG or NG – financially it’s quite a privilege to leave in the own property until you are financially free. By renting it you either get additional income and or get a tax break (yes… I love my house too.. and yes… I rented it too.. and yes my tenants messed up my floor… get over it!)
3. Self-education is the must!!! If you want to do a career (good luck if so!) – get good books, types on career development; If you want to do a business or investment – educate yourself. It works!!!
4. Start your own business (even if it’s a part-time) to get a second income!!! And as it growth you can spend less time on your job and more on business. Look for the industry that will grow in future: technology, sport, services, beauty… There are opportunities around – from the part time franchising to eBay stores. I personally don’t believe in get reach quick opportunity, it takes time, and effort. But it’s very rewarding!
5. Save at least something!!! and invest it!!! Did you ever heard about putting away 10% of your income for investment? You have 50K a year? it will give you about $3,000K a year for investment. Do rare coins or shares, wine, or whatever! even if you lose half a time. Even 5% will work, just do it regulary.
Cheers,
Finally someone asked this question!!! Good on you – a good sign your business will grow.
With my last account choise I was looking for someone :
1. who’s possible to contact (I know it’s a busy business, but I wasn’t to see a real person)
2. who is succesfully done and doing the same type of investment and income as me
(eg. when I was an employee I had an accountet that was an employee. As I’m running a business I’m only looking for a business owner. After all in the she’s such a good accountant and she understands how to make a money in the business – why is she still on empoyment??? And if she has no idea about a business – how can she tell me what to do with my money! Makes sence to me.3. The right accountant actively looking for the ways to reduce your tax. and the wrong one only tells you what you should pay!
4. Also some shalenge I had whan registering a company… there’s so many things you should do after you registered a company, and noone tells you the full list. But if you don’t do it – you get massive fines! I mean – you need a superanuation fund, a workers Compensation, Risk Assessment, regulination fund…There’s certain paperwork you have to keep for each of them… Also you have to notify ASIC about any changes to your company structure… How can one possible know this it’s her first company! There’s definately a gap on the market for those servises.
Good luck with your business
Cheers,
No it’s not normal! I don’t pay this.
I had few bad experiences with accountacts whos only advise what on what I have to pay, not on who to reduce the tax.So when I was chosing my currect accountant I organised an interview for few companies. I searched for the person that does the same type of investment as I do and does it succesfully. I spent few days looking arround – but in the long term it was worth every penny.
Just look for the right person – there are good accountacts arround, Ask at this forum for an advise. Not sure about self adverticed professionals… also the fact that they are in this forum is a good sign for me.
Cheers,
I use David Rooney of GPL Solutions.
Happy with him. here’s the contact details:Mob: 0408 488 324
Fax: 9211 5977
http://www.gplsolutions.com.auGood luck
Cheers,
You used a solicitor in your purchase, didn’t you?
Wasn’t it his duty to make sure the financing is organised and inform you what interest you are paying and what the worse case scenario is!!! And it had to be in written!!!
If you have no letter from you solicitor advising you about possible issued – forget others – it was his job to keep you away from legal trouble!!!
If you have been mislead no way you should pay any fees!!! [medieval]
You engaged professionals to help you and it was their duty to provide you with qualified advice!!!I would strongly advise you to contact with a layer that has an experience in both – property and criminal law!!!
Take just an introductory strictly-one-hour visit. So you can clarify your rights and be sure you are not signing for a major expense. Some layers offer free first half an hour – so you would only have to pay for the second half an hour.
I had kind of a similar problem with my last IP.
My finances were OK, but my solicitor simply disappear two weeks before settlement. He mysteriously moved out of office and was coming around midnight to pick up his mail. There were quite a few clients chasing him. Thanks to the very cooperative receptionist I must have been the first who found him at his new premises – but settlement was two weeks overdue already at this time and I was charged the interest on overdue settlement.
I settled two months later. But my layer made a bustard to pay all interest and fees associated with this delay, as well as reimburse me his fees. Week after I settled I got a call and was advised that he lost his licence and was declared a bankrupt (Insert evil laugh here!).
The main actions I did in addition to cooperating with the old receptionist –
1. Immediately getting a professional advice!!! And advising the original solicitor (at his latest known address) that I will take actions against him.
2. I also contacted the NSW Law Society and they were very helpful and quite powerful.
Definitely worth contacting – customer service email is fine – they will send you back a contact number to the person who will help you.Don’t leave it for too long – time will be against you!
I know the feeling when you are like hitting the wall and everybody treat you as an idiot and you do the smartest thing you can think of and they are still go over you!!! [grrr] But it became really easy once I got the right person to do the legal job!
Good luck!
Cheers,
We used tile sheets in bathroom and it did look clean but cheep. It was really reasonable for that property – it was basic rental weatherboard. But If it’s reno for sale – I would rather use real tile.
I recon when it’s used in smaller pieces – like a kitchen – it would look great and be really be really worth doing.
Good luck with your reno!
Cheers,
