WaitNoMore started the topic Replace weatherboards with blueboard and render paint it. Cost? in the forum Value Adding 10 years, 2 months ago
With weatherboard houses do you have to remove the weatherboards in order to convert to blueboard and render it?
Also what would be an approximate cost to hire someone to do it for a regular 3 bd house approx. 15sq.
Is this a painters job or chippy first and then painter or plasterer needed as well?
Looking at IP that is well under market value…[Read more]
WaitNoMore replied to the topic My latest development – 4 dwellings in Melbourne in the forum Value Adding 10 years, 3 months ago
40%………WOW.. you’ve done extremely well, good luck with next one.
Do you sub out as a builder for developers?
Cheers
Stefan
WaitNoMore replied to the topic A big thank you … Admin please delete if not allowed .. in the forum General Property 10 years, 4 months ago
It sounds like you had others find and purchase the IP for you. Is that correct. And at what cost?
Thanks
Stefan
WaitNoMore replied to the topic Flipping houses in Melbourne for under 450k and making 10+% profit. in the forum General Property 10 years, 4 months ago
10% is min profit I pay myself, I’m going by the 135% rule from Steve’s book. So basically I add 35% on to the sale price of the property to see if feasible.
If prop is $420000 then resale needs to be about $567000 leaving me with 12% approx. $50400. The 135% covers all costs including my fee of 12%.
Sorry I didn’t explain myself.
Thanks
Stefan
WaitNoMore replied to the topic Purchase IP or stick to fliping in the forum Help Needed! 10 years, 4 months ago
Thanks Jamie. So if my rent covers the mortgage on that IP then it wont affect my finance for flipping. Is that right?
Cheers
Stefan
WaitNoMore replied to the topic Purchase IP or stick to fliping in the forum Help Needed! 10 years, 4 months ago
ATM my broker is sorting out my loans. I have just over 200k equity in my home and 20k cash. I’ll have 420k for IP to flip with 40k for renno at 80% finance. 20k cash is back up. I am a PAYG employee and earn about 110k. Wife about 41k part time.
Hopefully after a few flips I’ll have sufficient cash flow to go into a joint venture mid next…[Read more]
WaitNoMore started the topic Purchase IP or stick to fliping in the forum Help Needed! 10 years, 4 months ago
Guys I’m going to start doing small renno’s to increase my cashflow but I do find decent buys here and there for positive or neutral property that I would like to buy. If I purchase IP that’s positive I can service the loan and do my renno’s on the side but will the banks see it that way? I don’t want to reduce my borrowing cap for flipping and a…[Read more]
WaitNoMore started the topic Flipping houses in Melbourne for under 450k and making 10+% profit. in the forum General Property 10 years, 4 months ago
Any advice on locations in Melbourne that I could do quick renno(face lift) and make a profit?
Id like the property purchase to be under 420-430k so I’ll have 35k to renovate and 20k cash back up.
I like Footscray West, Airport West and Braybrook. Hard to find in that price range tough.
Any Ideas guys????
Thanks
Stefan
WaitNoMore replied to the topic Family Trust Fund – Is it worth the money, effort+tax man.. in the forum Help Needed! 10 years, 4 months ago
I’m glad you understand Shiny Suitman.. You come out of reading Steve’s book with a different frame of mind. But I guess we got to roll with the times.
WaitNoMore replied to the topic Hypothetical question in the forum Help Needed! 10 years, 4 months ago
What about the new East Werribee Project. Near by property’s should benefit.
Definitely not Melton.. Boaganville with heaps of land and new House land packages from 249k…??!!
WaitNoMore replied to the topic Family Trust Fund – Is it worth the money, effort+tax man.. in the forum Help Needed! 10 years, 4 months ago
Thanks Jamie, good words of wisdom.
Your right and I need to put more trust into my accountant.
I like to learn from others who have achieved financial freedom from property. Unfortunately I don’t know anyone who has achieved full financial freedom, only part of.
Thanks again
Stefan
WaitNoMore started the topic Family Trust Fund – Is it worth the money, effort+tax man.. in the forum Help Needed! 10 years, 4 months ago
So Steve McKnight’s book says to use trust funds to maximise on borrowing capability. So thinking I sound smart I start asking brokers and accountants about using this strategy to start investing. I’m keen to start and this is doing my head in. Everyone seems to say don’t bother, doesn’t work like that… But these people didn’t buy 130 property’s…[Read more]
WaitNoMore replied to the topic Need recommendation – Melbourne Accountants specialises in investment properties in the forum Legal & Accounting 10 years, 4 months ago
Property investment group who make commission on signing people up for developments that promise min 5% annual growth. Proof lies in the pudding.
Brokers and Bluewealth get commissions. So if a broker gets 3% commission on 450k+, I doubt that he has my best interest at hart.
Cheers
WaitNoMore posted an update 10 years, 4 months ago
Very eager to start,, do I go for cheap property and resell with minimal makeover or more lucrative and seek partners in property development????????? what to do???
WaitNoMore changed their profile picture 10 years, 4 months ago
WaitNoMore replied to the topic Need recommendation – Melbourne Accountants specialises in investment properties in the forum Legal & Accounting 10 years, 4 months ago
Richard have you or your contacts used Doug to create trust in order to acquire property? And is Doug a property investor?
I’m also looking for a good accountant and a like minded Mortgage Broker. One that doesn’t try and flog off deals with Bluewealth property and must be a keen investor.(Aus not USA)
Thanks
WaitNoMore became a registered member 10 years, 4 months ago