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September 11, 2003 - 11:47 am
Thanks for your responses. LOL JackAdder. (the Exterra website says that a crack of one millimetre is all the termites need.)
HG, you have to marvel at the persistence of the little ‘mites, exploring, probing and testing for 6 long years before they finally found your little gap.
Double2, the treatment quoted was for a chemical barrier, applied both outside in the normal manner, and also inside the house, through the slab to the inside of the foundations. They suggested normal baits as a supplement, which they would just dust with arsenic if they were intercepted. This same company is also authorised to install the Exterra system, but they told me that it should be just used as a supplement to the chemical barrier, despite the advertising blurb, both in the Exterra website and the pest controller’s website, that Exterra saves the need for a toxic chemical barrier. I’ve yet to get a formal quote on Exterra, but they told me it would be roughly $1500. It would be a shame if a new innovative and effective termite treatment is stifled because the operators make more money out of traditional methods. I assume that the Exterra system requires ongoing monitoring and replenishment with associated ongoing costs, so I’ll find out and report back.
Regards, Jim.
PS has anyone else fallen victim to the Escape key? All your hard earned typing evapourates in a milisecond! I draft my posts in Word now. (and it comes with a spell checker!) (I only touched the Esc key because I accidentally bumped the “Alt” key, but I touched Esc twice and Zap goes the post!)
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September 11, 2003 - 11:27 am
Hi Kaza,
Any rule is only a guideline. As Steve points out, it’s a tool to help quickly sort the possibles from those to dismiss. If you find a property coming close to the equation, look further into it.
Some properties have been touted to yield up to 15% return. Others coming in at say 9% might still be worth investigation, depending on your other up front and on-going costs.
When your book arrives in the mail, consider this. I always highlight the important stuff in these types of books. It will help when referring back to points, for the concepts sink in.
Happy hunting,
Regards, Phil
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September 11, 2003 - 10:53 am
Hi Darren
Are u still online ?
Yes I would like to chat to u more about
your suburb..
How would i chat to you on this site ??
Iam pretty new to this site ..
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September 11, 2003 - 1:14 am
Mini, I’ve always loved the name Heidi, but was never allowed to use it on my girls. We had a family vote for our last child, in case it was a girl. (My wife always wanted to call our baby “Kelsey” if it was a boy, as in Kelsey Grammer, but now all the girls are pinching it!)
The name that won was Yvette, followed closely by Maeve and Freya which I like, but my Heidi lost out.
Anyway we had a son! and his name is Kelsey.
Just a bit of trivia.
Best Wishes ozirogue!
Regards
Jim
PS We now have a famale border collie, and they let me call it Heidi!
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September 11, 2003 - 12:14 am
Thanks Bryce, it looks interesting. I’d still like to be able to keep them out though, not just be able to detect them when they’re in. Can’t beat steel or concrete stumps!
Regards, Jim.
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September 10, 2003 - 11:45 pm
Thanks for that HG, I always been just a little suspicious of having just a physical barrier around the edge of the slab. It’s fine until your slab develops a microfine crack, which is all the little blighters need. There is some interesting reading about that in the Termite Action Group website: http://www.termiteactiongroup.com/
They say that the Queensland Building Codes Board has made it mandatory to include a concrete mowing strip around the property, which enhances the chemical barrier. Unfortunately they didn’t make it mandatory for a physical barrier as well, so nearly all builders are now using physical barriers only to save the cost of the mowing strip. According to the TAG, the only effective stand alone barrier is the chemical barrier, and it alleges that the exclusive use of physical barriers only is the biggest time bomb about to hit the building industry.
I’m just dismayed by the cost of the chemical barrier though. The quote I received includes drilling inside the house, but it’s still a bit rude asking me for nearly a whole year’s worth of rent. (and it will only last 5 years, no doubt!)
If you are relying on a physical barrier alone: “Be afraid, be very afraid”
Jim.
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September 10, 2003 - 10:05 am
ROSSCOE888 You can’t increase the borrowing on your townhouse and have it all tax deductible. You will be able to claim a deduction on the interest on your 80k once you start renting it. (I’ve checked with my accountant on that) You can borrow against the equity in your townhouse for a new IP, which would then have deductible interest.
It all depends on how much you will owe on you new PPoR. It really may be better to sell your townhouse to rid yourself of the ball and chain around your neck in the form of a non-deductible home loan, so that you can borrow against the equity for a new IP. It’s going to cost you a bit in stamp duty etc, but at least you shouldn’t have to pay CGT if it was your PPoR the whole time. If your new PPoR loan isn’t too massive, then of course you could direct your positive IP cashflow into paying it off asap. Leave the townhouse loan at interest only.
Just a few thoughts, but its really up to you.
Regards, Jim.
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September 10, 2003 - 1:31 am
quote:
Thanks heaps, people, I think what I’ll do now is call the RE agent to ask if he can get the owners to make a list (or make copies) of all the things they installed, eg the ari conditioner, the kitchen etc, so this will help the QS make a report…
Thanks again, regards Celivia

Just one thing I forgot to mention Celivia. My Q/Surveyor told me that it is very rare for them to have available receipts and/or purchase dates for all the fittings. They may get partial receipts, but he prefers to just use his own judgement of the value of fittings, ie you probably don’t need to chase receipts etc.
Jim. (Sorry to keep dragging this post back to the surface, but it’s a fairly important topic, especially as the theme of this forum is +vely geared properties, ie older ones)
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September 9, 2003 - 11:57 pm
Just had one done last week in Melbourne by Deppro, 6 year old place, cost me $550. Tried to get them to do a better deal for multiple properties but they wouldn’t come to the party. Anyway, the report looks good, still need to run it by my accountant.
I’ve also got a 70 year old place which I decided not to go ahead with, based on my discussions with them.
However, should you be unlucky enough to get audited one day, not sure what help you’ll get from Deppro. They quote in the report that the figures are based on “their interpretation” of the income tax assessment act, just to cover their back side I guess.[}]
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September 9, 2003 - 11:33 pm
Just had one done last week in Melbourne by Deppro, 6 year old place, cost me $550. Tried to get them to do a better deal for multiple properties but they wouldn’t come to the party. Anyway, the report looks good, still need to run it by my accountant.
I’ve also got a 70 year old place which I decided not to go ahead with, based on my discussions with them.
However, should you be unlucky enough to get audited one day, not sure what help you’ll get from Deppro. They quote in the report that the figures are based on “their interpretation” of the income tax assessment act, just to cover their back side I guess.[}]
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September 9, 2003 - 6:00 pm
I also use XP and have your program. To date I have not experienced any problems, maybe it is because I’m using the Professional Edition and maybe others are using the Home Edition. Otherwise it would simply just be a matter of everyone downloading the latest Windows Update Service pack then there should be no problems. Good luck and Thanks for the software, Great Stuff!
quote:
Hey EZ
I use XP, but haven’t had any problems installing or using your program. That said, I’d already installed some updates before I did so.
anyway, just wanted to say thanks for your program – it’s great! Very useful and easy to use. It makes my life so much easier when evaluating property deals.
Cheers
M
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September 9, 2003 - 8:20 am
quote:
Gidday,
I’ve been quoted up to $1000 for a Quantity Surveyor to go in and list everything for depreation.
R2

Sounds expensive R2dee2! Have you checked out Deppro as mentioned above? They have a Brisbane contact. I’ve been using Culling, Smit & Associates who are in Brisbane. Website: http://www.petrie.hotkey.net.au/~csan/
You might have a problem if your property is in Weipa though!
Jim
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September 9, 2003 - 7:35 am
Thanks for showing us some real figures Rod. I shouldn’t go running off at the mouth (keyboard) without knowing all the facts. I did ask early in the post for some real figures though.
I just spoke to the Q/Surveyor who did my new properties to ask him about old ones. He said that there are two ways to do it, one is basically as I assumed above, by depreciating at an acceptable rate from the original purchase price, which usually results in poor figures. The other is for the Q/Surveyor to simply have a look at the condition of all fittings, and assign a portion of the purchase price to all of them. eg if a stove is 7 year old, and still in perfect condition, then it can be reasonably assumed that a fair proportion of the purchase price would be due to that stove. The fittings can then be depreciated by either dim. value or prime cost starting from that assigned value. It is usually better to put all low value items (ie < $1000) into your low value pool, which can be depreciated at a faster rate, ie 37.5% pa dim value.
He said that it’s really up to us to make a judgement of the value of the Q/S report, ie if the things that attracted us to the property were the fixtures in good condition, then it’s probably worthwhile, but if the property is basically gutted with no capital works entitlement then it’s probably not.
The quote I received is now $550 for all houses, new or old.
Jim.
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September 9, 2003 - 5:32 am
Hi There![]
Best to talk to a mortgage broker, there are no documentation loans / asset lends out there but at a higher interest rate usually for the first two years until they see you’ve settled well then it usually drops back to the market rate but then again that’s something that you can discuss with a broker. You will however need a deposit, seeing as though you have no assets then you would need 10-35% deposit (depending on lender) in the form of savings to place as security otherwise It might be best to perhaps find a partner to help solve the financial conundrum.
quote:
I am on a single mothers pension and want to by an investment property. How do I get a loan from the banks and how can I still keep my pension? Or do I need to be employed fulltime to begin? I have no assets.
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September 9, 2003 - 5:09 am
For those prices you would be looking more regional/rural areas a few hours out depending on the State. In tasmania you could maybe still pickup a bargain close to town but that all depends on your motivation and determination to research and persist in finding these bargain properties.
These properties are to be had in every state, if you watched ACA last night you would of seen nearly every state covered with the median house selling for around $50-60k in the areas covered which were regional/rural areas.
Just bear in mind as I’ve stated above to do your homework/research/due dillegence before taking the plunge and try to avoid the hype of buying now asking questions later. The boat will always be there, you’d rather wait and get on when it’s safe then rush and go through a storm only to sink.
quote:
G’day
Am new at this and living in Sydney – not too many properties at these prices here. Coud you identifyy the area you are looking at, in broad terms and the state?
Not wishing to move in your territory but rather to get an understanding of where these type of properites might be found.
Tks, George
I wanted to say a number of things I hope are of value.
Firstly, A commendation on 0-130. I enjoyed every page.
Secondly, a comment for the critics and pesamists. Popoulation is growing, land is not. If you don’t work out the best scheme for yourself now, you may fall behind the eightball towards financial freedom. I’m in the situation now of working myself out and I have a lot of issues to get around but I’m going to do it.
Finally. Yesterday, I looked briefly in the local paper in the FOr Sale section and almost immediately saw at least 6 properties & 70,000 or less with mid to long term tennants. I have to get in work out the 11 second theory on them but I will certainly initiate my first moves in the very near future.
Any feedback on if I should consult finance people first, get my house valued for equity, see a broker or what ?

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September 9, 2003 - 4:42 am
Hi There and welcome to the Forums![]
I have no doubt and am sure the majority would agree that the Internet is probably the most powerful tool available to Investors and potential Investors alike. It may be quite daunting at first if you are new to the Internet especially familiarising yourself with the way it works etc. but once you get use to it the sky’s the limit!
A great starting point for researching investment properties would be http://www.property.com.au , http://www.realestate.com.au , or try searching at http://www.google.com.au , under AUSTRALIA and search for Queensland Property, or Property.
Another great Idea would be to visit those property websites above then find those properties in the region of choice, click on a single one and you will see the particular real estate selling that property and you can then click on the logo and it will take you straight to their website from which you can view what properties they have online and also email them to add you to their potential buyer list, where by they send you all the latest listings straight to your email. There are many ways, these are just a few, I hope they have helped and good luck!
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September 9, 2003 - 4:34 am
Hi HippyChick and Welcome to the forums!
With regards to your enquiry about creating a wealth plan / structure, I beleive I did make a suggestion in one of the other posts but shall post it again for you [] I firmly beleive that there is only so much you can incorporate with regards to setting up a wealth creation plan / strategy. The rest is up to you and only you, because every individual in unique in their hopes/dreams/ambitions/lifestyle. Sure there are a lot of resources out there that outline plans and strategies but these should only be used as a guide and applied to your own personal situation.
However there is one particular resource that I have grown fond of and has given me a greater understanding as a whole and that would have to be Steve’s Wealth Guardian. Sure you can sit and create wealth plan’s / strategies but then again what good is wealth if you can’t keep it? As is said and is so true in Wealth Guardian “When you own something you risk losing it, obviously because you own it you can lose it, thereby a more effective method would be where you didn’t own it but could control it, which is discussed in more detail in the Wealth Guardian book & CD, A Must!! The wealth of information in Wealth Guardian should be a definate contribution to your wealth plan / strategy / structure.
Hope this gives you some ideas to start your brain storming and wish you all the success in the future []
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September 9, 2003 - 4:10 am
Brokers don’t necessarily affiliate themselves with just one bank. There are a lot who have accreditation with a wide range of financial institutions.
At the end of the day they’re out there tailoring the best package to suit your individual needs. Being that they should be showing your results in the form of competative rates of a few lenders, their packages and more at your request.
Of course they’re are the odd few who for some perculiar reason wish to stick with the one lender but I find it would be particularly disadvantageous as you would have next to no success marketing your services if all you had to offer was the one package.
quote:
Are there any good “Buyers-Brokers” that you can suggest?As I can’t trust anyone who gets paid via commissions by the lending institutions.Obviously they want to sell their product.
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September 9, 2003 - 3:35 am
Yep. It is most definately “lagging” months ago I use to just click on a topic and it would automatically load. Now have to wait a while until it finally loads. I agree it would be due to the influx of new & interested investors, that is causing pandemonium on the servers. I think they are upgrading the forum’s soon to facilitate the increased numbers. Until then…
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September 9, 2003 - 3:29 am
Welcome to the forums and great to have you on board.
Now that you have an understanding and familiarised yourself with positive cashflow investing I think the best step would be to create your structure or your plan for financial freedom. Something which would reflect what you want to achieve and incorporating all aspects of yourself and your lifestlye. That way when you decide to take the plunge at least you will have set goals to follow and a plan thoroughly thought over which in turn along with doing your homework and due dillegence in all areas will minimise the potential risk in your future endeavours.
I’m sure your well aware that the 11 second theory is only a guide and that you should conduct your due dillegence not just on the property but on the area as well to make sure your investment has the potential to grow and yield those positive returns.
Would probably be best to talk to a broker first, the majority out there work for free (commissioned by the lenders) and it is quite a competitive market so you should not have a problem finding a good personal broker to attend to your particular needs with regards to raising the required finance for your investment structure.
Hope this helps.