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    Okay, made some changes…how does this look?

    http://www.trademe.co.nz/structure/auction_detail.asp?id=36303125

    Thanks again
    Anne

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    No, thank you! I appreciate your reply. Will make some small changes and see how we go.

    Am also running an ad in the “Rent” column:

    http://www.trademe.co.nz/structure/auction_detail.asp?id=36413861

    Cheers for now
    Anne

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    grossrealisation loves his syndicates and would probably have some useful insight on this matter.

    Cheers,
    Jacob.

    ‘Stay Happy and you’ll be Perfectly Fine’ – Jack

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    Hey Cindy,

    Check this handy fact sheet: http://www.osr.nsw.gov.au/pls/portal/docs/page/downloads/other/fhb_factsheet.pdf

    I recently had a discussion about the same issue with a property solicitor that should be in the know-how due to years of experience within the field, however they said no no no to all my ideas… So I asked for some proof why such notions as yours above wouldn’t be viable (buy residential investment properties and retain your FHOG and FHPS concessions)… And I was taken to the fact sheet… I found no greater pleasure actually reading what was displayed on my screen and coming to the conclusion that anyone that has never owned a property may purchase either a commercial or residential IP and still claim the FHOG & FHPS when purchasing a PPOR… The property solicitor wouldn’t admit this being a correct observation as the wording was funny… So I am still waiting for their response… Not just because I wanted to prove them wrong and confirm my speculations but just to be appropriately informed which is something we could all benifit from… So have a read and tell us what you think.

    Cheers,
    Jacob.

    ‘Stay Happy and you’ll be Perfectly Fine’ – Jack

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    Hi Marissa,
    is your landscaping post referring to a Dalyellup property?
    Even if not you need to look at what you get for the $7000 landsc/fencing package – it’s not a lot.
    Fencing uses about half – usually done by developers contractors to ensure uniformity.
    Most new estates will require front retic and landscaping as minimum. It is worthwhile to speak to the developers contractors to find out what you get and how far it goes.

    If it’s Dalyellup I can give you lots more tips and info.

    Cheers Julie

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    Hi property Passion,
    couldnt agree more with Gross – take on a learning project.

    I have relevant experience in building/design and decided to put it into practice for myself.
    Have done some building on developed land. This is still well within my comfort zone, so I needed some new projects….

    For my first subdivision I decided to use the sevices of a surveyor who coordinates the whole process – sure it costs for his expertise but I see it as a form of mentoring. (The surveyors locate and coordinate all the headworks requirements, planning authority, council etc with the relevant authorities – so next time you know how the process works).

    The next project I am taking on more of it myself – knowing how the process works, and how it is done by a professional.
    These guys are pushing subdivisions through council/state planning every day and they learn all the pitfalls.

    Also, I’ve found that whilst you are employing them to do your survey subdivision you can ask as many questions as you like and get PRACTICAL answers.
    To me it is money well spent, and a cheap and fast education as well.

    Having said that you should only use someone that has been recommended to you.

    There are always ways to achieve the result without expertise, but I also see time as money. More finished projects is more cashflow to me – and earlier retirement.

    good luck cheers Julie [smartass]

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    Cabo Wabo, did you find it is relevant to single storey residential, or is it more for high rise?

    thanks Julie [sunny]

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    Hi Gross,
    I am a small scale investor developer and would really like some help from you in working out the profit margin figures on a project.
    It is a subdivision (WA) , with an existing house on corner block.
    I will sell the original front house when the new block is created. I will not owe any on the new block.
    Will build on new block and am not sure if I’ll sell the new one or rent/hold for a while.

    here are the figures:

    loan $131,000 @ 6.29%
    original purchase price hous+land $141,500
    subdivision cost $13,000
    Sell original house $210,000
    selling agents fees $12,000
    stamp/conveyancing $1500

    new block value $95,000
    cost to build new house $115,000
    (loan to build $100,000 @ 6.29%)
    value of new hous+land $275,000

    regards and thankyou in anticipation
    Julie [sunny]

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    Hi Carlin
    I dont know what TICA stands for but it is National, and linked to NZ, and Britain too!

    It is primarily for agents but I think any ‘qualified’ person can subscribe.

    It doesnt appear on leases as it is not part of the tenancy act – in WA at least.

    The database is the primary reason I use agents, however, it turns out our last manager didnt even check them out – despite telling me otherwise. Pays not to trust anyone when it comes to rentals. Now I ask to see evry document – esp. prop.condition report.
    And I make it very clear that I have a preference for direct debit tenants, even though they cannot convey this.
    I’ts funny that one normally must show some form of commitment to pay when entering into a contract, but tenants are given way too much leeway under the law.
    But hey! In the end the Capital gains make up for ALL the hassle.

    Cheers Julie [sunny]

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    Hi Elly H
    I’m in WA, but there would be some similarities.

    As well as surveying and council fees there will be fees for headworks – that is sewer, water and electricity connection from the road to new block. Also if there is gas you usually have to apply for a new connection. In WA each headwork is about $2000, so the whole block soon comes up to $12 – $15,000.
    The good thing is that you can usually sell the established house for about the same or more than you bought it, so the block will cost little or nothing when all is done.

    Another, more cost effective way is to build/subdivide at the same time. This way a lot of the service connection comes into the building cost (siteworks etc), and a lot of builders incorporate the planning applications etc into the building cost. You do pay something, but it is less than a straight-up subdivision.

    Regards Julie [blush2]

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    Hi Carlin,
    Have been in the same position myself – so I can empathise!
    I’m still getting the paperwork together as I had a massive cleaning bill when she left.I didnt want to clean up her boyfriends syringes. I had always given her extra chances beacause she has 4 kids under 5 – more fool me.

    In regards to registering tenants on the database, in WA the law also favours the tenants. They must agree in the application for the tenancy that you can check them on TICA and this also allows you to list them if they default, or something else.

    Agents have access to the databases, private landlords can subscribe through landlords associations and maybe other means – definitely worth it.

    You might want to check the legalities of putting the direct debit in the lease, as my property manager tells me this is not legal in WA.
    However, she asks if they would like to pay this way and the preferred tenant would be willing to pay this way (unofficially of course).

    Getting back to recovering money from tenants I had mine laugh in my face and tell me,
    “I’m a single Mum, what do you think they’ll make me do, pay you $5 a week?” HA, HA, HA!
    That’s tough to take.

    good luck Julie[blush2]

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    Hi Rob W,
    I forgot to mention that for your Quinns Block you could look at building a “loft” style house.

    This gives you the potential for views but without the extra expense of two storey.

    You are essentially building into the roof space to give the 2nd storey – saving a lot compared to 2 storey construction techniques.

    They have become very popular in one area I am developing in (a beachside subdivision).

    cheers Julie[biggrin]

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    Hi Rob W,
    as an experienced property owner in relation to rentals I would look very carefully into the type of tenants you would be looking at in the area you mentioned – Balga.
    We have made v. good CG in similar areas but the headaches in tems of tenants can be huge!! That is with a property manager!
    It’s all worth it if you can accept tha work that may be involved.
    Ther’s always the option to build and sell.

    Julie[blush]

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    Thanks for the tip Daniel – will check it out. Cheers

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    Exactly gross, exactly!

    And sounds like you really love your scotch, are you yeast intolerant or something that beer doesn’t call your name?!

    Oh, and why is my PI forum acting all weird with writing and boxes everywhere, I am lucky to even access let alone read half the posts available. This one seems to be just fine.

    Petersham RSL is a great venue, we go there to cheer me mate on at boxing every now and then. Easy to get to and fairly cheap booze as you’d expect from an arie!

    Cheers,
    Jacob.

    ‘Stay Happy and you’ll be Perfectly Fine’ – Jack

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    MarkyMark, I love it! Probably better if the tenants dont know your home address!

    Julie[biggrin]

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    Hi, it’s sad yet strangely comforting to read how many other people have hassles with residential tenants.
    My experience has been that an even bigger problem is Property Managers.
    They are happy to promise you the world, and take on your $$$$$ of property, but then …..very little.
    I would happily pay top dollar if I could find Property Managers that actually do what they promise. If I dont contact ours almost daily things just fall apart, and we end up with what we have currently – two tenants owing substantial sums of money within the last month, it is just one stuff-up after another.
    We would like to change managers but have to wait to settle the claims first.

    Has anyone found managers that actually do what they promise? They must be out there?

    I find that they leave way to much to chance, and address the problems later, when the damage or losses are done. It is so frustating, I think it might be worth going back to self management.
    regards J[blush2]

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    My godparents came down to Sydney to celebrate my 21st.

    And that only happens once a year, oh wait, ever!

    Cheers,
    Jacob.

    ‘Stay Happy and you’ll be Perfectly Fine’ – Jack

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    Hi fellow builders, I have just completed building with a project builder in the southwest. Even with a professional background in Interior Design/Architecture it was not without problems. I built with Country Builders (formerly JCorp), who were great right up until the finishing stages. The poor level of finishes required work to be re-done several times – so beware of this, and check as much as you can at each stage and thoroughly. Their faulty workmanship and overruns cost me 3 months potential rent! It is important to condider that it is not like building your own home where you can finish little things off at a later stage. If it is for rental or sale everything must be finished before occupancy. These final stages can add-up time wise. Dale Alcock is the parent company for Homebuyers centre and Celebration Homes – hence the good reputation.

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    Where do you get an RSL badge? Didn’t know I need one to get cheep beer and chops… Always though that was part of the deal with RSL’s. Anyway, there is parking and a pub and a RSL all within walking distance, so see you there… Even though I am bouncing along on a bus on a Sunday, great fun?!

    Cheers,
    Jacob.

    ‘Stay Happy and you’ll be Perfectly Fine’ – Jack

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