Hi there,

We’ve done a couple of reno’s and tend to work from the top down ie: roof first, this works particualy well if you are spraying iron roofs as any overspray onto gutters etc is then covered when you paint the gutters next.

Replace windows before you paint walls either inside or out otherwsie you’ll definistely have to touch up bits that…[Read more]

Personally I wouldn’t buy there either, try entertaining a kid for a couple of days in the town, there’s hardly anything to do.

Having said that you should make your own decision. I remember reading a thread on Collie a couple of years back that was all negative as well, yet the growth there has been very good. While I can’t see that happening…[Read more]

Ask lots of questions like with the excess, how is it calculated etc. We have jsut put in a claim and becaseu the police don’t consider it “malicious”, the insurance ocmpany therefore take it as accidential even though there’s 3 broken windows, fire damamge on the floor on one room, hole in two walls at opposite ends of the house etc. HAve put…[Read more]

Hi there,

Well, my hubby is very suportive of the investing that we do, but unless it needs a hands on approach in fixing it (which he is very good at when it’s been needed), then he’s quite happy to leave it to me. I don’t have an issue with this, he works long hours anyway, to earn the money that pays our every day living expenses. The…[Read more]

Well, it sounds interesting, but what is the liklihood of getting a tenant? If it’s good and it’s cashflow she’s after then it sounds good. If the liklihood of getting a tenant are poor then she’s not going to have the cashflow she’s looking for. Can she ring the local PM’s and find out what the going rent and vacancy rates are like?

Also, it…[Read more]

I agree with the others about the insurance and I’m in WA. As soon as you sign the contract you have an interest in the porperty and it’s therefore your responsibility to take out insurance. WE also didn’t realise this until after a small incidence, ow that we know we do straight after a offer has been accepted.

You might have to wear this…[Read more]

I wouldn’t put multiple offers in at once. I’d put offers on the number I can afford first with a clause in the them that the offer must be completed by a certain time eg. within 24 hours or the offer becomes null and void.

that way you will know iwthin that time frame whether it is a goer or not, if not then you can start the process on a…[Read more]

So no one want’s to do a reno on this one? [laugh4]

Also add in a % for the “unseen” things that you find out later ie: you pull the wall off and find termites etc. Say add 5-10% of the expected reno costs for the unexpected.

Also add in Utilities ie: to get the powere connected, pawer and water usage etc. Not easy to renovate or clean up afterwards without power and water.

PK

Palmer707,

After you’ve read Steve’s first book, I’d suggest you then read the second, it’s more up to date about today’s market but do finish the first one as it’s the backgroundd for the second.

Good Luck.
PK

I woulnd’t tell them not to bother about the $750, i just wouldn’t chase it at the moment. I’d concetrate on the $3k and only after receiving that then I would write to then that you are unable theat they have made an error with the bond and feel it is their responsibility to sor the situation out, perhpas even suggest they shoudl foot the bill.…[Read more]

mmm, well I came up as Ruby Star too, i wouldn’t have picked it, so there you go. Good fun.

No way would I use put cash in or redraw against PPOR mortgage (a non-deductable expense) to create +ve CF IP.

No I definitely wouldn;’t draw out of the PPOR mortgage either, however, I would use the equity I have as security to be able to borrow. +ve cashflow is not easy to find, in the past we have bought homes noone wants, then renovated…[Read more]

Hang on, if the ATO has passed a ruling about the GST then whya re the agents “not obliged” to refund it? Someone must be obliged, either them or the tax department that has received the GST that was collected.

I’d look into this further, at the actual ruling and not at what the agent is telling you.

Good Luck
PK

Although I guess Grossrealisation now has a few us wondering what you’re not a moderator on this section when you are on all the others?

LukeNeale, do you relaise this post was posted before people joined up? ie: the forum was doing it’s job in allowng poeple to questions various aspects of the mentoring course and therefore make an opinion of their own as to whether to join or not. It’s not from bitter poeple after the event, but rather an exchange of was being offered prior to…[Read more]

Buying and Selling!

Simon_G,

While I don’t know what Dazzling’s investing in, I can say it’s usually not Residential, so if that’s what you’re looking at then you won’t find the returns he’s quoting.

PK

Wow, a small questions about flyscreens has created quite a furore, I would never have expected it! And I bet Adambc didn’t either…

[surprised]

I believe you can claim it if you intend selling it once it’s built and then you pay GST on the Sale price.

PK