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Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 15, 2003 - 6:07 am
If you aren’t happy handing over >$1k/month to your landlady, could you get a new one and pay less?? Moving is rarely considered fun, but savings may be worth it.
Just a thought
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 10, 2003 - 10:11 am
Hi guys,
transporters ARE a possibility in the location.
My first contacts were with (2) transportable companies and.., well, they are what encouraged me to perservere with the concreter, as $$ estimates not much different for what appeared to be a superior product.
This is a nice, LOCAL link and the aesthetics of finished houses AREN’T the transportable quality I’d concluded was standard.. THanks guys.. back to good old persistance, third time WAS better…
Now I;m up to speed on relative prices and merits of construction materials I’m in a much better position to compare value of products offered by different means.
($$ pohibitive because of distance from metro area for project homes by AVJennings), but will post results of detailed discussion with additional transp construction companies.
Thanks crew. Your suggestions, interest and encouragement help ALOT… not just with physical practicality of transactions but rebuffing the “little voice” that says it CAN’T be a good idea.
Newbies find access to a discussion forum and others with ideas and experience SO valuable. SO THANKS[].
The concerns of open-ended contruction time and the financial lag are addressed by projects and transporters. Weather dependant issues were to be mitigated by using steel frames, heeble panel etc, but transporter time-frame seems fairly tight (even according to ‘poor-service-hideous-homes’).
Keep suggestions coming – (even though paralysis now in remission!!) Anyone had it “go bad”? How would you do it differently next time around? I’m still interested in the range of views of the forum on the issue of building vs existing IP’s.
Thanks guys. I’m busy again…
[] [] []
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 3:46 pm
Thanks John!!
They are the benefits I see also.
The project builders are my next call! Coordinating contractors and getting quotes has been a little painful. I’d not considered AV Jenning etc as the location is in SA and not exactly metropolitan. The worst they can say is, “No” and I ring the concretor again (or get quote for a framed floor as well!!
Expanded horizons.. There’s been alot of that lately… (fortunately!!)
Thanks.
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 3:28 pm
Sooshie and Michael – Nice work.
Balance DOES seem to be the key. If no one receives, no one can enjoy the experience of giving.
This is a bit long, but a favourite.
“I have always had a dream that when I am asked to give an accounting of my life to a higher court, it will go like this: ‘Empty your pockets. What have you got left of your life? Any dreams left unfulfilled? Any unused talents we gave you that you still have left? Any unsaid compliments or bits of love you haven’t spread around?’
and I will answer joyously ‘I have nothing to return. I spent everything you gave me. I’m as naked as the day I was born.”
Erma Bombeck, March 10 1987 (Detroit Free Press)
Keep getting nude guys…and Thanks
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 11:27 am
As above..
If it is such a lovely area that has seen significant cap. gain, Are you charging BELOW market rental now?? Have you considered a paintjob?, new curtains, offering a new washing machine for rent increase? Just some new questions for you..
Steph
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 11:17 am
Omitted info from above post….
My understanding of the situation is that as part of the contract, the party taking over the mortgage has a claim
(caveat/encumberance?? apologies for linguistic limitation)
placed on title after the original party is paid out. Sale usually negotiated on terms of $100K, $35k cash to vendor and take over $75K debt, therefore property “sold”
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 11:11 am
I know this is v. common in US, but also under impression oz lenders hate it. My father investigated this ~5yrs ago, so my info is dated. ATTN mortgage brokers, is there info you can contribute??
Steph
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 9, 2003 - 10:24 am
Hi Matt,
3 properties available in close succession may not mean anything. I bought a place (1/6) and three other properties in the block also sold around the same time (4months).
Just wanted you to know it’s not unheard of. High capital growth spurred on at least 2 of the sales….(and has continued), but each vendor had different reasons for selling. 3 years on I’m happy with the purchase.
Its REALLY good advice to ask WHY the owners are selling – Speak to them directly if you can, not just for benefits pricewise, but it will also satisfy the curiosity you have.
Good work. If the numbers add up and it feels right, go for it!
Steph.[]
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 1, 2003 - 1:58 am
…. I was hoping to find glowing testamonials… I don’t want to be told to focus on my “real” job either. That’s not the type of advice I’m happy to pay for!!
…ANYONE???
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 1, 2003 - 1:47 am
Beach front “expensive” compared to i) “what it used to be” and ii) for rental return compared to equivalent property thats NOT beachside.
Xenia,
Nice to see other Adelaide investors identified on forum. []Also made me smirk to see another ex-science property enthusiast. The whims of funding bodies began creating concerns for me 12 months into my PhD!! I can’t imagine trying to start a family on the “security” of a “good job” in science.[xx(]
Been considering best approach for my first IP, beach-side south or inland up the freeway. Still gathering info and all ideas welcome
Stephanie
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@stephanie
Join Date: 2003
Post Count: 13
July 1, 2003 - 1:30 am
Check with Lands/Titles office or relevant body in your state so that your “vendor” isn’t trying to sell somthing they don’t own.
I’d suggest having your solicitor draw contract of sale and hold the deposit in trust. This keeps it legal, easy to trace and fair for everyone.
My first and only property so far was never officially “on the market”, however an agent put me in contact with the owners. Spending $$ on legals seems painful when money is tight and hard to come by at the start, but it’s too scarey to go into something like this without knowing where you stand – for your protection and the protection of people you deal with. I consider prison an over-rated option! I don’t want to go! It’s easier to sleep at night when the ends are tied up and everyone is happy.
Stephanie
Member
@stephanie
Join Date: 2003
Post Count: 13
June 30, 2003 - 10:27 am
my personal $$ saving favourite from Uni was to shop an hour before closing.. especially on weekends, – cheap meat, bread etc and here in Adelaide alot of supermarkets don’t trade Sunday so you get vegies also – even if you can’t get to the markets..
Stephanie
Member
@stephanie
Join Date: 2003
Post Count: 13
June 30, 2003 - 10:21 am
Hi
Can’t help feeling surprised that alot of people miss the point that the property MARKET is subject to MARKET forces!! Thanks Peter for your contribution. I am also extending my debt in the near future, but with awareness of factors that influence the MARKET and the level to which I am exposed to the market. As a novice investor, new perspectives can be useful. The forum is great.