I think tradies should be required to quote an hourly rate and detail a schedule of activities in half hourly increments as part of the quoting process. When conducting the work they should maintain a timesheet detailing their actual times and associated activities in half-hour increments to be compared against the quotation.   If something unforeseen eventuates, then it’s a matter of negotiating with the customer for a change request. 

This is how professional services in many white-collar industries operate, and at least this way you can compare apple with apples based upon an hourly rate and a schedule of works.

The unfortunate part of all this is that there are cowboys out there that don't do the right thing and still charge over the moon. This makes the honest people look bad.

In a Fair System approach, I believe you do a good job and charge a fair amount. The problem in this market there is more demand than supply.

The answer is not to legislate the tradies to breakdown every quote and charge an hourly rate.
For instance one accountant I see charges $180 an hour and my friends charges $230 an hour. Why can one charge more than the other? He does a good job… I don't bitch about it, I just pay it.

The answer is not to just import more people  to soften the market.
I don't want to be offensive to anyone here, but I have seen some tradespeople that have come from other countries and if you think that there are some dodgy workmen here, you haven't seen anything yet.

One problem is that no one wants to get their hands dirty anymore.
in Perth last year only 75 tilers copleted their apprenticeship. 150 the year before, and 300 the year before that… I'm sure its the same for other trades. It was found that young people don't want to get dirty anymore.

I believe that the answer is on the way as the swing to advertise and appertise employeese/employers to take apprenticeships is growing.
(through government grants and CITB bonuses)

Apprenticeships are the crucial key to make sure that trades keep going. 

The more the tradies (supply) , the less the demand (work) which at the moment is not a bad thing. Most tilers are wanting to be taken off of lists (in tile supply shops) because they are 4 months in supply of work. 

Tradies are a funny breed, be nice to them, and you'll be surprised what you'll get…. Don't underestimate the power of beer…!!! 

This is the way that prices will become more fair, quality of work will be passed down, and everybody is in a WIN-WIN situation.

Hope this is a bit of help,

Luke

A company called ARDEX which deal in adhesives, grouts and compounds have a product called LQ92 which is pretty well what Bren was talking about.

Most of these companys have a product of similar comparison, just make sure that your tiler / builder knows what they are doing.

If there is a slight bit of moisture on the origional slab, the product dries too quickly and it will warp when it dries. just a tip.

Hey whyalla,

Was a great time… stuffed at the end of the day with all the information. Great chance to network, meet new people.

Met a few people that were on the same red eye that I took…

Did it change any thinking that you would implament into your next deal?? Are you going to take up the 28 day challenge??

For me it was the shove I needed to make the next move. Been dormant for a few years now. It seems the more educated I get,

the harder it is…. It almost seemed easier when I didn't know much and just signed the bottom line… Like a kid that jumps off the shed roof, when your older you don't do it cause you have to assess all the risks!!!

Is your name whyalla because you invest there?? or just personal…

LUKE

Hi Compleks,

Just as a basic starter, you have to know things like; your financial situation, your reason for property investing, and what area you are going to target.

When you know that, you have to study that area for things that will make it a possitive to buy there eg, infrastructure, rental renurns and vacancy, job rates, future employment and reasons that your area will increase in value over the long term.

All this takes time and resources. internet, ringing agents, and especially walking the streets, activity in neighbourhood will give good indication as to what the area is like.

Some basic tips that can really help can be found in Steve's first book 0-130 properties. Although times are changing and it is harder to find C+ve properties, the pricipals are the same, you just have to look more and work with the current market. 

When looking at a property, don't look at the current state of the property, see through to what it could be… (rough diamond)

These are a few things that I do that are simple and are helpng me add to my portfolio.

The Dilligent find freedom in their work;
the lazy are opressed by their work –     proverbs

Luke

Hi forgetful,

Just a quick one.. please don't use leaving school early as an excuse…. I think sometimes school can limit you more that being exposed to the world at an early age can… just personal experience!!

I look at putting money into the bank or managed funds sometimes as a short term plan. When you have money in CF+ve property you have to think of the longterm.
you might be making if lucky 5% ad you might think "It's safer just being in the bank earning that interest".

but what you have to think is that the sooner you get it payed off, the sooner you get that weekly rent in your pocket… and if property roughly doubles roughly every 10 years, you also have that equity to tap into.

I don't know much, but my theory is to keep it as simple as possible… even so someone who left school early can understand….!!!!

Luke

Hi guys, I just wanted to say that I have a unit that has the laundry in the bathroom. not the best as far as space goes. So when I first renovated the unit, I searched for a space saving washing machine in order to maximise the space. I then included this on my rental income. A mere $5 extra a week. Including this in the unit was a plus for me.