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Scott No Mates
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February 12, 2011 - 9:02 am
the best reno book that I’ve read was ‘the dam busters’ by alistair mcclean.
So good, they made a movie of it..
Scott No Mates
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February 12, 2011 - 7:10 am
to gain a 6 year cgt exemption, you are required to live in it prior to leasing it out. Hence, if you move in, connect all your services, change postal/licence addresses, Then you can prove it is your ppor (until you move out). There is no minimum time unlike fhbg.
If you rent out before living there, then you would be liable for cgt on the period rented over total ownership.
Scott No Mates
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February 12, 2011 - 5:04 am
Do you intend to sell prior to/@/near completion or hold for several years? Both having different outcomes depending on your investment strategy.
Scott No Mates
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February 11, 2011 - 8:45 am
it is regional property, you need strong cashflow to offset the lack of capital growth. If you Then want strong returns, you will need to continue with good maintenance scheduling.
Scott No Mates
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February 11, 2011 - 7:27 am
RROW-WHACK rooms that are so small that you cannot swing a cat in them.
<moderator: edit> – absolute novice developer
Renovator's delight – on face value it''ll be a bargain, in reality run away.
Add the finishing touches – some serious work required to cover & discover the owner's mistakes.
Scott No Mates
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February 10, 2011 - 12:01 am
Thanks Will,
set up your action plan:
* Arrange a face to face meeting with the agent
* review current marketing strategy
* review all of the prospects that they have brought through the property
* listen to what the agent has to say about the property (and all their excuses, failings etc)
* ask them what they are doing to lease the property
* ask them to suggest how they are going to stem the flow of money from your wallet
* ask them what they want you to do to achieve the results
Scott No Mates
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February 9, 2011 - 11:36 pm
Derek wrote:
Maintenance costs should be seen as an ongoing investment in your own property, irrespective of whether or not you are an owner-occupier or landlord the principle remains.
Be careful you don't adopt too much of a 'cost cutting' approach which leading to reduced increases in values and/or rent return.
Depending upon your strategy, you may wish not to maintain the building (other than to a basic level) in order to erode the value of the other owners. When it comes time for them to sell, you may then be better placed to negotiate a more favourable outcome to yourselves – for the outsiders, it may seem like too hard a task for a newcomer to change the thinking of the executive committee/other owners to pay more for maintenance.
Scott No Mates
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February 9, 2011 - 1:13 pm
Vendors go the auction path because they want a watertight deal with no wriggle room. You need to have all your ducks lined up well before the big day.
Scott No Mates
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February 9, 2011 - 10:16 am
Hi Will,
1. 7months, painful but not unheard of with industrial property.
2. Tenants generally pay for the ‘useable space’ ie the factory space, offices & hardstand areas. If there is high clearance, then there is a greater cubic storage (useful for high bay racking), hence rents can be 25-50% higher than lower clearance spaces.
3. At present, there are a lot less tyre kickers around, so I would be a bit concerned about the agent.
Which city is it located? What is the factory size? Is the rent reflective of the condition of the premises? What’s the zoning? Have the leaks been fixed?
It may be time review the Agent’s performance.
Scott No Mates
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February 9, 2011 - 1:10 am
Terryw wrote:
I remember reading Henry Kaye used to get 3 or so reports done and then use the best one!
Just like other professional services – lawyers, accountants etc.
Scott No Mates
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February 8, 2011 - 9:47 pm
check the FIRB’s website for details pertaining to the purchase of property by non-residents.
Scott No Mates
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February 8, 2011 - 12:11 pm
if the place in Inisfail is still watertight, it’ll be in high demand.
Scott No Mates
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February 8, 2011 - 12:06 pm
It is usually the vendor’s solicitors/Conveyancer who instructs the purchaser of the construction of the settlement cheques not vice versa. So be prepared to have several bank cheques drawn for settlement.
Scott No Mates
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February 8, 2011 - 9:51 am
All good news. Just check if you need to put all of the payout ‘into’ the new property or if it can go into an offset a/c, then ‘redrawn’ for use on your other ventures.
Scott No Mates
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February 8, 2011 - 3:23 am
It depends, are you going to hold a builders licence, is the work going to require someone to hold a licence or owner-builder licence?
Scott No Mates
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February 8, 2011 - 1:05 am
That's why my solicitors have advised against it – doesn't save anyone anything, probably ends up costing them more at the end of the day.
Scott No Mates
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February 7, 2011 - 12:18 pm
Likewise, I would recommend north shore based companies like Strata Partners in Willoughby or Strata Choice/Linders in North Sydney.
Scott No Mates
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February 7, 2011 - 12:06 pm
There are plenty of markets where there will be substantial opportunities to benefit from either capital growth or refurbishment opportunities.
Unique Waken has commented on growth prospects recently in the Eureka Report.
Scott No Mates
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February 7, 2011 - 11:50 am
well it is the Gold Coast. You’ll need to analyse the long term patterns for the coast. Ie boom, bust & plateau. It may mean going to the archives to get some 3, 5 & 10+ yr old copies of the mags to see where the trends really lie.
Scott No Mates
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February 7, 2011 - 4:17 am
if it contains units, then the units are covered. If there are commercial suites, these aren’t. There may be shops or offices on one level but if the units are for living in then they are residential, if they were built as commercial or office units and converted you would still have a case.