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- hbbehrendorff wrote:Bull ? like the property market crashing ? thats not bull thats reality…
What correction?
http://www.smh.com.au/news/national/what-crisis-sydneys-47m-house/2008/09/17/1221330929879.html
Depending upon how the beam has been braced it shouldn't be a problem – the 'problem' that you mentioned sounds minor considering that it is old damage (probably during the growth of the tree). The bracing may consist of similar sized member bolted through the existing timber, 2 peices of timber bolted either side or 6-10mm steel plate to one or both sides bolted through. Should extend 600 mm min either side of the damaged area (would depend on the size of the beam).
REA generally are not valuers. They will provide an estimate (based on much different criteria to those used by a valuer). You pay nothing for an appraisal, and it is worth it.
Something you may consider, if the tiles are in good condition, lay your new finish over the top of them.
Generosity is never a factor in valuations – it is experience and instructions.
In the present market an experienced valuer may provide a more conservative result than you would expect however they will be considering a number of factors that the next valuer may not have taken into account (due to their degree of experience). This may be the currency of sales considered, the degree to which the valuer has assessed the property, the selection of comparable sales considered (and those disregarded), their wider knowledge of market conditions and market cycles. It may be worth discussing the valuation with the valuer to ascertain his rationale (or commission another valuation elsewhere).
The instructions may have led to a different result – is it a market valuation, valuation for mortgage purposes etc?
V aluers do not undervalue, they present a valuation at a point in time based on a willing buyer/willing seller, neither party over anxious (under pressure to buy/sell) etc ie what would a reasonable person in the same position pay for the property?
Loan Mortgage Insurance
Loan Valuation Ratio (Equity vs Value of property/assets)If it doesn't have walls, then it probably doesn't have sufficient footings for walls (loadbearing or not). You will also need to consider waterproofing (set-down on slab) as well as wind loading and the effect on the existing structure.
Once you address those issues, you could consider timber stud construction with cladding (weatherboard/corrugated iron, blueboard etc)
That is generally the case nowadays. Terazzo used to be laid insitu however with the cost of labour over the last 30 years, changes in style/decor it had fallen out of favour. Have a look at the floors in your local Westfield, these will most likely be terazzo tile (although they use a 30 mm thick tile).
There is very little insitu work done now unless you are after something ultra unique.
If you hunt around, you should be able to get terazzo in a 10 mm thick tile, still laid in the traditional way with a grind & polish to finish.
Yes, but there have been simultaneous corrections in equities, property and hybrids coupled with (relatively) low interest rates (historic lows overseas), 20+ year highs for the AUD/USD and other horses in the race as well.
Which one do we grab as the 'next big thing'?
A couple of things to consider:
1) buying at MV, 100-106% finance, $100k upfront rent payment, does your borrowing include the use of the $100k for the purchase (ie: buying for $400k but you only have the capacity to borrow $300k)/borrowing $400k with $100k in offset account?
2) How will you manage repayments if you have recieved $100k upfront to cover 6 years rent? (Offset account gets no interest/tax liability but reduces interest charge by the equivalent amount)
3) $100k will be treated as income in the year that you recieve it – it will be taxed at the top MRT (unless you have some incredible losses to offset against the income).
4) Why not consider dropping the purchase price by $100k to reduce your borrowings? (saving on mortgage costs, stampduty, reduces vendor's capital gain and is a non-cash transaction for your income eg only $1 per year rent not $100k in yr 1).
5) Consequence of reduced purchase price will be increased capital gain when you come to sell as you have a lower cost base
6) Difficulty in selling within the 6 year period will be that the purchaser will not recieve any income (this is unusual for resi properties but is not unheard of in other types of property eg phone towers with upfront payments)
7) What happens if the vendor dies prior to the 6 years – who keeps the balance?Hope this gives you some options.
Well that's the first that I've heard of the rental market slowing down. Vacancy rates are still at all time lows, yields are still increasing (as prices drop) – I just don't know if I would be buying in some sectors at the moment however there is some value to be found in areas which have suffered the 20-30% price drops.
Well that's the first that I've heard of the rental market slowing down. Vacancy rates are still at all time lows, yields are still increasing (as prices drop) – I just don't know if I would be buying in some sectors at the moment however there is some value to be found in areas which have suffered the 20-30% price drops.
Agents will generally not charge to come out for an appraisal, especially if they think that they may score a 'management' or 'sundry letting' out of it. If need be, get 2 local agents – those that you feel are the most active in the area (biggest rent rolls). They will give you some consructive criticism (may need painting, tidying up, minor maintenance etc) to ensure that you achieve top dollar for the property, they should be able to give you a fair idea of price based on what they have recently achieved – get them to give you specifics as to where and when they achieved $$. Steer clear of any agency who has a young/inexperienced property manager unless you know that they are quite capable.
There maybe some planning restrictions on letting out premises for short-term (need to refer to LEP), it may have been specifically restricted in the development approval and there may also be some restrictions contained in the bylaws governing the strata scheme.
A few places that you'll need to check – council & secretary of body corporate (for a copy of the by-laws).
Short-term tenants (generally holiday makers) cause greater disturbance to neighbours hence there may be some restrictions.
Some items to consider: how many other strata offices in the same complex? How many more under construction in S Yarra/Toorak & other surrounding areas? Is the development in the premium part of SY? How close to the prime retail strip (can't remember the street numbers but around the fashion precinct? What is the vacancy rate for office accommodation in the area?
These questions would be used to scrutinise any commercial property regardless of age.
Look out for factory seconds – usually find some good deals there (damaged box or open crate)
And you wonder why builders get a bad name? Asked to do 'illegal' building works, that's a good place to start.
If you want to get the latest info, check out the shenanagins at Wooloomooloo Wharf with several owners having bought 2 or three units, combined them knocking out walls. There has been a lot written in recent weeks.
It depends upon the LEP. If the council will permit 'home occupations' then you can run a business from the premises. Otherwise you may need to get a spot rezoning (which may take 1-2 years). Best to speak with the town planner at council to check what you intend (you never know, it may be permissible without too much hassle).
It all depends upon what you are after – M Comm (Prop Inv) or MComm (Dev) are great if you want advance financial modelling & project planning/management skills, the others, well….
