Forum Replies Created
Ok i got a question to ask,
BTW i would prefer a larger bedroom to a kitchen, but now for my question on similar lines…
i have an older style 1 bedder, with an enclosed kitchen that leads off the loungeroom. the walls are all solid brick and its a top floor unit. wen i do my reno, i was thinking to lower the wall seperating the kitchen and loungeroom to around breakfast bar height, and re do the bench tops so it flows around, making the remaining wall the support for the eating area, and opening up the kitchen to the lounge…
is this hard to do??? what processes are to be done, if someone has dont something similar i would like to hear how easy / hard it was… the wall to be removed would be about 1.5 metres in lenght, the pillar opposite the doorway is the end of the other wall made of brick supporting the ceiling…
thanx
Jason
I just tried sending mine along
Seems the email account is over its limit… so its saved for another day lol
(so for the moment im guessing no 1 will be able to send anything…)Jason [baaa]
Hey Waysolid,
I think you need to pay close attention to the work being done, ask to be present, and give firm instructions to your agent that u must be called before any work is to be done at all, as long as its non urgent of course.
Ask for 2 quotes, offer to take care of the payment yourself, better still organise the quotes yourself, offer to pay cash, haggle, take a long pause after the initial price given… plumbers charge through the roof, and they just take a gamble most time that u will say yes to the first price (im speaking from experience here lol)
If the problems are caused by the renters seek advice about getting them to pay. also, if there are problems with plumbing or electrical, some of these should / could be taken care of by the strata, seeing as its a unit.
Dont say yes to every request the agent put fwd to u, question it at length, ask about specific details, let them know that u are taking notice of where the money is going…
And again, make sure that its well known that u dont want anything EXTRA in the invoice other then the damage to be repaired… i got a call saying that the washer in the bath was leaking (older shower above bath setup).. so i told em to get the tap fixed so the tennent can use the shower. when i got the invoice i noticed the plumber also changed all the washers in the bath and kitchen…. i was VERY peeved off, seeing as i did them 3 months earlier , even using the new fangled anti hammer washers….
why did he change em “caus he thought it was a good idea at the time seeing as he was there”
Keep on their back… its your money they will be in the end after all…
Jason
Hey there Sibo,
I remember looking into Queanbeyan 3 or 4 years ago. price of a 1 br unit, $19-20K price of a 2 bedder, usually under $25K… how things have changed!!!
Now i havnt been there looking at property, but from what i can gather there is a huge over supply of units there, thus the previously mentioned low prices… so u may be a long time between tennents, and the rent will be greatly negotiated.
Just my thoughts
Jason
Hey there,
I have no problems at all with parents helping children buy their first property, mine did the same, and i would do the same to my kids some day. (just in case it seemed that way in my first posting)
If my son asked to borrow money for his first car, and he drove home the next day with a new BMW i wouldnt be happy.
Same with this lending scheme. there is no problem lending on real estate that is realistically able to be paid off, buy the new owners, but the story stated a couple that bought their first unit with parents help that would be almost half a million dollars after all expenses!
So again, nothing against helping the kids, but lets be realistic on what people think they can pay off, after all, 10 grand towards a 460 K property is a drop in the ocean… (refering to the people in the story)…
Jason
Some advice…
“Im sure most of the successful members on this site are past all the shitty little +ve CF country/small properties,”
This statment is very naive, if u want advice i can tell u that my success has come from these exact properties. I dont know if u hav any IP’s as yet, but perhaps a “cheap” “shitty” country place is a good place for a young investor to start… u will learn alot from this, and if u do get burnt, the money u lose wouldnt be as much as if u had bought in a place where everyone else is typacally buying. but not all places that are small or in the country are cheap and shitty, as your blanket statment implies.
then again, u can start off by getting one of those trendy inner city apartments, and see what happens, i know what i would prefer…
If im guessing ur 20, and u want to retire at 30, and ur financial plan is to buy 1 property every 4 or 5 years then that will mean u need to make either huge capital gains, or u need to make huge incomes, this would be very hard to achieve and live off with only 2 properties i would think…
Open your mind to different ideas, but dont take my comments in offence to your question, as i hav “been there” and “dun that”…
Jason
Having Delt with Wizard on several occasions i can say that their service os “ok” as is their loan packages. However i did find their staff at a certain branch very ameteurish at crucnhing the numbers and doing the paperwork. I once was called several times over a month to say that my pre-approval figure was incorrect and that i needed new paperwork sent out to me, the difference in the end was a few thousand dollars, or less then a dollar a week in the repayments… why even bother…
but in the end if they suit u, use em, as i did
Jason
Re QLD:
My Brother is an electrician for MERITON and they are pretty much stopping or slowing down all new development works in Sydney areas and moving up to QLD. Somthing about the Qld government not wanting any money out of em for their buildings i think (perhaps the Comunity Contribution???)
He only told me this a few days ago actually, very interesting i would think!
Jason
Hey there Kay
Sounds good.. lol i would love to go! I hope they have show bags with lots of free sample Ip’s and DA’s lol…
My diary is as follows:
Friday, Meeting with John Howard, he wants to talk to me about that money i lent him last year [baaa]
Saturday, from 9 till 5:30 pm i teach yr 6 kids the joys of advanced maths [cap]
Sunday, from 9 till 12:30 i teach yr 3 and yr 7 kids the joys of English [blush2]
So anything ofternoonish Sunday and im in [biggrin][biggrin]
Thanx
Jason
Hey Kay,
Hmmmm Advice for Newbies?? perhaps start by using this site lol!! start off small, buy cf+ if possible, stay at home with mum and dad as long as possible, do your research, never over commit to anything, always have some cash in reserve for rainy days, watch where your money is going, surround yourself with people “in the know” ie solicitors, lenders and a good accountant.
cheers
Jason [^]
Hey there Stingray,
I understand what your saying, But if you secure several investment properties over time, the value of the first properties secured will increase, while the loan decreases, depending on the structure of your loan.
You should also always have a “plan B”, mine is to sell off 1 or 2 properties should i ever get in a spot of bother and still walk away with a few properties left, but a debt that is easy to manage or beter still wiped out. perhaps this would apply to you if things start to not work out for you financially?
I cringe wen i see how much i owe the banks, but then smile [
] when i see what the remaining equity is worth! im still way out in front, compared to if i just sat on the money or left it in a bank “just in case” things didnt work out.Perhaps all the money ur saving could be used to pay off your house loan, and should u want to buy another IP, use equity from an existing Ip you have, i think this would be a more favourable way to use your money tax wise???
Hope this helps!
Jason
Originally posted by Pisces:I don’t think there would be quite the problem with a concrete slab construction as you will encounter with a kithome construction as far as finance is concerned.
If you have bought the land at the right price it should support a ‘normal’ brickveneer type construction.
Why be adventurous with your first project ?
Pisces
Hey there Pisces,
To answer some of your questions, im looking into kit homes or pre-fab homes for several reasons, mainly the lower cost per dwelling. the area im looking into does not have a high median price, but has been showing good growth in the last few years, so in terms of re-sale, should i want to sell down the track i will need a few years to make a profit, however, im doing this to achieve maximum income with minimal spending.
The block is elevated, and a slab would probably require alot of excavation and perhaps a retaining wall or 2, again, costly. so perhaps something that can be suspended on brick piers would be easier to do.
Finance is also an issue, im in a position that allows me to do the whole project with my own money, but again, should i elect to build “traditional” houses, i will be going very close, or over my spending thresold, my plan was to buy, build then re-finance asap and use the new equity to purchase more IP’s… Im also a very hands on person, and want to do as much of the work, in all areas of the project myself.
In terms of being adventurous.. im a person who really is not in favour of conforming to the norms of society, i also think there is always a better / cheaper / more efficient way of doing something, so im willing to give it a shot. i know ur not trying to knock me, and i appreciate what your saying, but if i wasnt adventurous 5 years ago when i started investing in IP’s against most peoples advice, today i would probably still be dreaming of buying my first place… unless i giv it a shot, i will never know!
But again, thanx for the reply, both you and Kay [^]
Jason
Thanx a Ton,[^]
Will giv it a shot
Jason [
]lol…
Debating with my year 6 kids on the benefits of home work is just as fun… lol (i tell them to work harder/smarter to achieve their goals, they tell me who is the hottest pop tart… woops, pop star) so i guess people have varying opinions on whats important at any given time
But its alllll good
Toodaloo, ive got marking to do lol and an IP inspection to organise…
Jason… [^]
Originally posted by aussierogue:g’day jason
…..
plus most of those proffesions you outlined dont work at home they work in offcies like evryone else.
so i dont think that point is validi said:
“from their own home if they so choose” i didnt state it as a fact that they all DO work from home.My accountant works from his home office, the podiatrist down the street works from his converted living room, the doctor in the street behind my house lives above her surgery and my architect friend works from his fitted out garage…
you said that after 8 years a teacher earns 55 k. well thats only 30 yrs old – not bad – what does the average 40yr old teacher earn??
Hmmm i didnt actually say that, i was going on the information from the WA figures quoted. i looked up the NSW info here http://www.aeufederal.org.au/Industrial/Salaries/teachers.html
and found that a 4 year trained teacher in NSW starts on 41,134… the rates for steps 1-3 are payable to uni students who choose to work at a catholic school as a casual or as a temp (not many ppl know that the Catholic system allows 3rd and 4th year teaching students to work as a teacher, but at a lesser rate . many uni students do casual work at catholic and private schools before they are qualified)
So to answer your question, a teacher working for 7 years will get $56,775 during their 8th year of full time service. BUT after this there are only 2 more pay scales to go, then no more pay increases, unless privatly negotiated (very rare unless u are at a level in the school higher then a normal teacher ie supervisor) so if you started working full time at 22, by 32 you would have hit your maximum salary…
why do teachers start on such high salries???
Because they are worth every cent!!!
my personal feeling is that teachers have always had the general community on their side – including me. ive thought long and hard abt becoming one myself.
but i reckon the average jo reckons you guys are doing alright
99% of teachers are “the average joe” btw
Jason
Yezzum,
There is no set curriculum sad to say, but there are 6 Key Learning Areas that need to be covered. without going into a slanging match into who said what, i can say that if it was as simple as opening a book and just teaching then there wouldnt be an issue for more pay.
What is taught in a primary school is always changing, firstly to cater to the needs of the classroom as a whole (ie if there is a large proportion of a certain ethnicity) then you need to cater to individuals, and modify the lesson accordingly, perhaps u then modify your lessons again to cater for the environment the school is in, an outback school of 30 (total) kids will teach science very differently to a city school, yet use the same syllabus guidelines.
The “teaching” doesnt make teachers tired, its the paper work involved. If you need to refer a child for special help or behavioural problems, you need to provide a long paper trail of proof and documentation to justify it. Its a legal issue as well… the problems are getting fixed in the system slowly, but still, more needs to be done to lessen the paper work involved…Time management issues are a big problem, some schools are using experienced teachers to make up teaching units during school time while a casual looks after the class (something i DONT agree with) first year teacher does start off with a good salary, its the system as a whole that is letting them down. as someone else mentioned, many teachers are approaching retirement age.. and still want to be linked to the education of childern, but just dont have the strength any more to handle a class of kids. perhaps these people should be used to create a whole schools programming, (ie a desk job) while younger teachers “teach” and mark it…
There are so many “what if’s” and im sure many other professions ahe similar problems. Im sure we have all worked in a job and thought to ourselves “there must be a way of doing this better”…
Secondary teachers cannot be compared to primary teachers, as secondary teachers are dedicated to 1 or 2 subjects usually. they may teach the same lesson 2 or 3 times a day, and also do not have to worry so much about detecting learning problems or behaviour issues. A Primary teach needs to teach everything, thats why their university entrance mark is higher then a secondary teacher.
“Four year trained beginning teachers are paid a salary of $38,102* in their first year. This compares favourably with the salaries paid currently to a newly qualified accountant ($23-40,000/average WA $30,000), an architect ($32,800-35,400) and an engineer ($35-45,000). Teachers at the top of the scale (known as Level 2.3) are paid a salary of $55,853*.”
Ok, The WA pay rates are similar to the NSW rates, and teachers do get a pay rise every year for the first 8 years i believe (never worked full time so im not clued up on it exactly).. BUT can i just say that for a teacher to get 55 K a year, and if this is the top scale, then they would have had 8 years of work and experience behind them. Also, its interesting to note that the professions you mentioned all had one thing in common, (accountant, architect and engineer (throw in doctors and Lawyers) these people are all able to work for themselves from their own home if they so choose, and in doing so they are able to make as much or as little as they want. a Teacher does not hav this ability, my own solicitor started on less then what im making, but in 3 or 4 years his pay has gone well over the 6 digit mark… because his pay is based on performance, and the hours he puts in, a teachers however is not… so these professions cannot be compared in my opinion.
Anyway, this teacher hasn’t gone quiet (yeah rite) he just isn’t in the internet 24 hours a day…. [^]
Jason [
]Hey Tonyy
“Also, no one has mentioned the sting in the tail when you come to sell the property and the tax treatment of Div 40 & Div 42 deductions.”
Can you please expand on / explain what u mentioned above???
Thanx
Jason…
] when i see what the remaining equity is worth! im still way out in front, compared to if i just sat on the money or left it in a bank “just in case” things didnt work out.
