Forum Replies Created
thanks for responses, think we will go ahead with it, we also like the idea of the “invested” money in the offset account being available at anytime, compared with a long term interest account.
cheers,
rusty[biggrin]hi there TEACHERK6,
i know the coating u are talking about, i believe it to be sprayed on with a “chopper” gun, don’t know if it would contain asbestos or similar though, however in regards to sealing and leaving it, i have painted a few very old crumbly houses in Quorn in country SA and we used a product called surface binder to ‘glue’ the surface and hold it from crumbling then just painted over it (after removing the really loose bits). can’t remember if it was solver or dulux brand, but they would both have a similar product. hope this helps.
cheers,
rusty[biggrin]thanks for the info dudes!
cheers,
rusty[biggrin]Glenyskimber,
how did u go with the morgage advisors advice, did u end up getting finance, or are u still looking for a lease option??
rusty
[biggrin]thanks DD, but now I have another question, can I live in SA and have a wrap or lease with a contract for a property located interstate?
maybe use a conveyencer in that particular state??? let me guess, the rule applies to which state the vendor is living in????
rustyhi there Mel,
i don’t supose i could ask u for some more details about lease options in SA, as i don’t quite understand the bit about the instalment contract being illegal, don’t u need an initial contract to get the whole deal underway?
any further information u could supply would be appreciated.
cheers,
rusty[biggrin]hi pramen,
i have searched on the internets real estate sites for hours some days, then the next day i have found one within 10 minutes.so far we have been in the right place at the right time and located two IPs that didn’t go through a real estate agent (in country area). maybe widen search further away?
all of the properties that we have looked at closer to home (even ones that need major renos.) are nowhere even near an 11 second solution.I think that now that +cashflow properties are all the rage, they are going to get harder and harder to find.one example is where i was born and lived for aprox 25 years, in country SA, u could previously have picked up a good IP for 50K and rent out for $120, but since it has been shown on tv as a good investment, real estate agents had outside investors on lists waiting to buy any the minute they were on the market, which pushed all of the prices skyhigh, good for capital growth for locals(unless u are one of the locals who can no longer afford to buy there).I guess that one problem with investing in country areas is that we are limited to the few PMs and the fact that there isnt enough competition to force them to have to be cheaper
hi yack,
my thoughts….no, no and no!
I am a licenced painter(although i now make cars for a living), anyway, i have worked for myself and 4 painting contractors and i think that it is a releatively simple task, yet some of the paint jobs that i have seen both housing trust tenants and house owners (and some of the “painters” that i have worked with) do have shocked me.everytime we got an s.o.s. for a reno. gone wrong, we’d think oh-no not again, and quite often it would take us twice as long(and twice as much) to undo what they had done than it would have just as a straight forward paintjob. However, on the other side, there are a lot of handy”people” and tenants who have suprised us and done a better job than most painters!!!
my advice would be if u can see a paintjob that someone has previously done and u r happy with the quality, go for it! if not, steer clear of it!hi jo,
we have one IP ex-housing trust home and another on the way (not sure of the sex,he he) they are both in country SA and from my experience (i used to paint housing trust homes) i would definetly want to find out about the area from a local as, with every town, there are good and bad areas and some of the areas that i have worked in, i wouldn’t live there if i was paid too and nor would future tenents that are familiar with the areas. we are lucky in that our IP area has mostly been bought from the trust and is now either privately owned or by government for teachers/police etc. in the town with our IP we know the areas because we used to live there, but for an outside investor, to discover the good from bad can be quite easily determined by the huge price differences from the good (i have seen both halves of maisonettes in “bad” areas go for almost the same price as for a single half maisonette in a “good” area).another good indicator is if there is half a street of “empties”-why?
don’t know if this helps, just thought i’d put my two cents worth ingood idea, just a thought, who pays the lost rent/ loan repayments while reno is being done?
nah, as long as their rent isn’t going up, i rekon they’ll get over it, i think more likely to upset current PM.[biggrin]
our PM sent us a letter last week to say they had done thier inspection and found that the laundry drain is blocked and our gardener is mowing the lawns too short, we had previously agreed that any maintanance (up to $200) would be aranged automatically and simply taken out of the monthly rental money, but when i contacted them, they had done nothing about either lawns or drains – isn’t that the whole idea of PM?![biggrin]heya!
thanks for the info i don’t feel so bad now.
does anyone know if Steve has PM on all of his properties or just some?
cheers,
rustythanks Jo,
we are just about to add another ip in the same town, so hopefully this may give us some leverage to bargain for a better rate.
cheers,
rusty[builder]hello, how are u all?
I make cars on the production line
regards rusty
