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 get scrapped or whatever.

Same goes for the bathroom and kitchen, have them done over before you paint otherwise things do get knocked and chipped and you’ll have to touch up.

We also painted the outside (before inside), that way if you have a rainy day then you go inside to work wheras if you’ve done all the inside and then have a rainy day you can’t do anything as it’s too wet outside.

While you’re working on the outside that’s when we had contractors doing things we needed inside such as the electical or plumbing or stumping or whatever so once we’d finished outside, they were finsihed inside and in we went to do our thing without being in the way of each other.

Floors are a definite last, but make sure you have the carpets ordered 4 weeks prior and if you have someone else doing sanding and polishing then book them as well for when you think you will be finished to ensure they will be ready to do their thing when you’ve finished yours. Floors defintiley get dirty and/or scratched so do leave them till very last if possible, also makes painting and sanding easier, getting sanding dust or paint drops out of carpet isn’t fun and the odd one will happen even with drop sheets.

If your doing it on your own then you can work out what you need to do before you do other things, if you’re doing it with someone else then make sure that what you’re each doing is helping the other as well so you don’t have down time ie: I’d always let hubby know what room I was planning on painting next so he could do whatever he needed to do in that room before I got there or if it didn’t suit for me to be doing a particular room because something wouldn’t be finished in time he could say and then we’d work out where I should be next to give him time to finish off the room etc.

Oh, the rubbish. A big bin is helpful and demolishing a lot in one hit means you fill the bin and it’s gone. There’s still always other bits and pieces though that become rubbish as you go, so we kept the trailer there and piled it in and when it was full would do a quick trip to the tip.

Oh, I don’t know what others think, but tiling is one job that we found very very time comsuming for us to do ourselves and just wasn’t worth doing oursleves. I would just pay someone to do that one in the future as the holding costs while we tiled probably would have paid a tiler.

Well, good luck and let us know how you go.

Regards
PK

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 in the claim and they are saying there will be an excess for each accidnetial incident. How do you prove what’s done as one incident and what was done over two, three or four. They suggested an excess per room, whihc isn’t very impressive as that would be an excess of $2,800. Still saying that, we’ll still be a lot better off with the insurance then if we hadn’t had it all. Also check if cleannig is covered, as the insurance company we are with state that cleaning comes out of the bond and isn’t covered. Out cleaning bill is curenlty $1700 (including fumigation as cockraoche infested), bond is $700, therefore we’re $1000 out of pocket there.

So, ask lots of questions as we didn’t realise the accidential damage bit would be per incidence and not per claim.

Like i said, we’re still better off from having the insurance as we’d be even more out of pocket otherwise, so glad we do have it, but I’ll be asking more questions of other companies in the future to try and find a better one.

However, it may be that this is standard.

Hope this helps.
PK

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 doesn’t appear growth she’s after, but if she does need to sell it in the future will she be able to in a reasonable timeframe? What’s the reason it took so long to sell this time? Is it overpriced or is it that houses in the area always take that long and therefore she would need to allow the same time to sell if required further along?

You’ve indicated that it’s in a reasonable suburb of Perth so I’m really surprised as to why a rental guaratee should be needed as vacancy rates on the whole are low. If it seems most likely that she should be able to get a tenant, then I’d ask for the rental guarantee off the price as nazzysmith suggested.

Perhaps she should be looking at doublechecks in the contract ie: building reports and pest inspections? Perhaps there’s reason it’s not sold before now that’s not obvious. Is the price definitely for both halves of the duplex and not that much each?

I guess my advice would be to go for it, but with caution?

Let’s us know how it goes.

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 different one etc until you get the quantity you actually want.

Regards
PK

Ps. I’m from WA so there may be an alternative way that would fit the Qld system, this is simply how I’d do it over here.

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

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. If you verbablly say you’re not worried about it then you’d need to let it go as technically you have then entered averbal agreement about it, so I’d just try to say anything or I’d simply say I’m not happy about it and leave it at that until you get your 3k.

If they then don’t pay the bond to you (however they choose to sort it), then I think you are within your rights to cancel whatever contract you have with them to manage the property.

Well, that’s the way I’d go, chase the big bucks first and then follow through with the smaller stuff later.

Good Luck

Regards
PK

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 them, to have the extra cash for deposits on others. Also found that over time, our negative ones have become positive as rents have increased, although it has taken a few years for this to occur.

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?

Buying and Selling!

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]