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Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 7:28 am
Just another thought, when I first joined up here I received a very encouraging and positive welcome e-mail from a guy in SA.
Marco at http://www.positiveproperty.com.au
I haven’t had any further contact with him and I’m not sure what name he goes by at this forum but maybe worth checking his site out.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 7:18 am
Wish I could help you out there Patrick but as you can see I had to settle for Garfield…
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 6:49 am
Marc is a very approachable guy. If you want to contact him directly just click on the e-mail or PM icons at the bottom of his post and ask away. I am sure he won’t mind. I was aware that he had a comprehensive knowledge of Centrelink policies but didn’t know he actually worked there.
I wish you the best of luck and have no doubt that there are a range of options available to you. There are lenders that will count Centrelink payments as income. I have been told that you are in an even better position if you want to borrow less than 65% of the property value. A good mortgage broker will help you with this side of things – as luck would have it there are a few on this site. Again feel free to contact them directly, that is why their details are there.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 6:06 am
I think I recall someone that posts here who runs an investors club in Adelaide. Maybe Summo I think? Does anyone else remember? Summo are you out there?
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 5:34 am
Jo, it seems like you have a link to everything. Your research skills are amazing!!!
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 5:25 am
LOL and can’t stop! I can just see poor old Barnsey falling overboard and sinking with a safe in his back pocket. I know I have a warped sense of humour but I’m just stuck with this image in my head (and still laughing!)
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 5:08 am
Mine was originaly Ray White and is now First National. Big one taken over by another big one… but the staff stayed the same and have always been wonderful.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 3:30 am
Every month in the mail (ie hard copy – on paper) I get a rent statement/report. This outlines rent payed in, expenses paid out and the balance which is transferred to our bank account. Together with this my PM sends any invoices (eg this month the seal on the oven door needed repairing) and a newsletter that keeps me up to date with whaat is going on in ther agency, their local area and property in general (eg this month it had an intro telling about the local wether and one of the staff on holidays, a speil about daffodil day, info on a training day that their staff are attending, a thankyou to all their tradespeople, an article on how to select the best tenants and an invitation to buy another IP for them to manage).
At the end of the financial year they post a printed summary for the year of all income and expenses, GST, etc to make life easier for our accountant.
Yes we do get a copy of the residential tenancy agreement.
We also get posted copies of periodical inspection reports done on the property. Sometimes they also include photos if there is any particular damage or other issues.
I only have one IP but I love my PM team and consider them to be the best I’ve heard of.
If you had multiple IP’s and/or multiple PM’s then maybe a professional book keeping service would keep things in order and coordinate the varioius IP’s and PM’s until your accountant ties up the whole package at the end of the year.
I can only wish for the opportunity to deal with this problem myself
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 1:57 am
Vendors Transfer Tax.
I know it exists but can anyone tell me more than that?
Also how do you register as a property trader? This is a new concept to me.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 1:13 am
Yep that is definitely an option that I have considered. Licenced builders are a bit thin on the ground out here so it would involve a bit of a wait. But still a good plan.
I just got the impression from one of the comments above that perhaps I’m not quite so limited as an owner builder as I thought. If I was able to do it this way it would save me both time and $$$.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 14, 2004 - 12:45 am
I have just completed an owner builders course but have yet to actually apply for my licence and start a project.
My understanding of it was that I am limited to one building per 5 yrs. That may be either a single dwelling (if I live in it) or a duplex (if I live in one half I can then rent/sell the other half) – and that is the limit.
This is pretty restrictive from a PI point of view but as it was for our PPOR that was not an issue.
It is a large block though and I did have a wild idea about putting a duplex on the back (it has 2 road frontages) as well as our house on the front. I didn’t think this was possible as an owner builder. Have I got it wrong or is there a loophole I’m missing?
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 13, 2004 - 11:18 am
Yeah, like I said…
I think I’ll just lurk in the background – for a while anyway. Too much on my mind at the moment…
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 13, 2004 - 10:56 am
It makes sense to me that only the creator can write the appropriate instruction manual. For washing machines or otherwise…
There is only one creator.
I know that if I’d followed God’s instructions for living (as outlined in the Bible) I would have saved myself a whole truckload of grief over my lifetime. That is my belief for what it is worth to the debate.
The basic philosophy that I outlined in my first post on this thread was the result of reading a book called “Boundaries – when to say YES, when to say NO, to take control of your life” by Dr Henry Cloud and Dr John Townsend. They are christian authors and there are many references to the Bible throughout the book. However even if you choose to omit these from the text it is still a really good read if you are questioning where to “draw the line” either with yourself or with other poeple.
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 11, 2004 - 6:41 am
Hi Greg,
Maybe I’m really naieve but are you serious about “who the hell is this Steve McNight guy?”?
He runs this site besides anything else.
Sorry if it was a joke I didn’t get – I’ve had a bit of a rough time this past week or so and don’t see the funny side of much lately.
Sounds like a really good seminar. North Blackburn is in Melbourne I assume… living in a rural area can be difficult at times. If I can call in a miracle I’ll be there!!!
Good luck to those of you who do get there. I guess I’ll just have to pick your brains via this forum
Cheers
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 9, 2004 - 2:35 am
Hi Jo and thanks again for another interesting link!
Cheers
Sonja
Sonja
Member
@sonja
Join Date: 2004
Post Count: 338
August 8, 2004 - 9:46 am
hmmmmmmm… It’s a shame but true. I guess I’ll remove mine too. I really liked this thread though.
Sonja
Sonja
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@sonja
Join Date: 2004
Post Count: 338
August 8, 2004 - 8:11 am
Yeah Wallflower, it was a pretty sad state of affairs but it was a long while ago (Don’t know how I survived my late teens really). I thought I’d inflict the story on you guys to illustrate one of the reasons I’m wary of taxi drivers (and because I seem to have fits of compulsive posting every now and then). It also makes carrying large amounts of cash seem a relatively sane thing to do! Let us know how you get on Newgen.
Cheers
Sonja
Sonja
Member
@sonja
Join Date: 2004
Post Count: 338
August 8, 2004 - 3:35 am
Can’t remember who or where but once upon a time I was whinging about it “just not being fair” and this person told me that “fair” was not a valid concept. If you expect things in life to be fair then you are bound for dissapointment at the very best. Good things happen and bad things happen some you are responsible for, some you are not.
My policy is to give as much as I can freely give – it feels good for everyone and it builds relationships. If I feel that I’m not comfortable giving (time, information, money, whatever) then I just don’t give. If I give more than I can willingly give it leaves me with bitterness and/or resentment which only destroys relationships.
This is important to me because IMO everything from PI to family to voulenteer work is about relationships. The stronger they are the more successful the overall outcomes.
Is this the sort of thing you meant lifeX?
Cheers
Sonja
Sonja
Member
@sonja
Join Date: 2004
Post Count: 338
August 8, 2004 - 2:54 am
Yes, obviously, even in the depression there were still some people spending money. My great-grandfather was a very gifted painter and decorator. Throughout the depression he still earned enough to wine and dine his mistresses and drive them around in his new car (while his wife and five children went hungry and walked everywhere. To this day my grandmother and her siblings call him “old suck eggs” rather than dad).
The point being that even in a depression you can earn a decent income with the right skills. Barter systems are an important form of currency in this situation. After hearing so many of my grandmother’s childhood stories, food, shelter and water are the most valuable commodities in such an economic climate (not many people eating or buying gold about then – some good bargains if you can afford to buy gold during the depression though I’d imagine LOL). I agree with Aceyducey on this.
Cheers
Sonja
Sonja
Member
@sonja
Join Date: 2004
Post Count: 338
August 8, 2004 - 2:16 am
I have met the guy who founded this chat club and one of the guys who does a lot of work involved with running it. I met them at a PI seminar just over a year ago. Although I can’t speak for the many members of the club I believe the organisers are genuine and on the level.
Cheers
Sonja