Yeah I'm sydneysider as well. forums are a great tool also the hundreds of free books at your library. Its interesting to find books on investing in the 80's and see what past generations were doing to become successful investors etc.
just considering rendering my home and then i thought can i do it myself?. so i am just after advice/opinions on what is the difficulty level of DIY rendering. what do i need to consider, any pros and cons or is it best left to professional tradies.
my Handy man skills are absolute basic and i have never done a big project like this
appreciate any input
regards
Hey Harry i have an internal brick wall in one of my places if you want to practice but in all seriousness I'm all for trying to get as much done by yourself but with such an important and large aspect of the property I'd consider a professional unless you do a short course or practice on something not so large and important…I have a friend who taught himself how to do carpeting by ringing up a carpenter and asking him if he could come and watch him do it at a clients house. The guy was nice enough and he spent the whole day( for free obviously) helping the guy and learning how to do it with all the tricks and tips you cant pick up on a webpage or from youtube videos. just a thought, hope it helps.
I understand that company's are not good for appreciating assets due to the 50% CG tax. I buy and hold and have no intention of selling them anytime soon. Is this the reason for you not liking them from an investment property point of view? I would also like the asset protection that a company can provide.
LMI is great….Like Xdrew I'm currently buying relatively cheap regional/metro properties and wouldn't have being able to expand had it not being for LMI. I can see why people view it as a unnessecary tool/fee but with every passing day things are getting more and more expensive why not try and get as many properties while they are cheaper and focus on paying them off in the future. Every day you hold a property it comes closer to making a profit. I used my PPOR equity to invest as long as you use the equity for very stable properties i wouldn't be using it for a property that loses buckets of money i'd want it to be cash flow positive or neutral. Another thing i forgot to add I'm very big on aggressive money mangaement. I like to put all of my money savings etc into one home loan and all the rent goes through the homeloan. The more money you have coming through your accounts the more money you can save on interest repayments on your PPOR. Hope this helps
I try and look at it from both sides but the landlords do bare the brunt of most of these issues. Tenants trash our places and are allowed to continue renting. You have to spend about 100hrs searching for a decent property manager who will put a decent person in our asset. Insurance companies know we need this for our properties and are practically holding everyone to ransom. I like the idea of a uprising off landlords fighting the banks/tenants who trash our assets and any other thieving company.
Quick question about the spreadsheet is the property expenses % include interest repayments? If so how do you work out the percentage, is it against the rental for the year or the value of the property?
That's a pretty standard fee. I use a Property Management team in St Mary's, J & B Realty. They are really good i think from memory they normally charge 6.6% but they are quite a distance from Cranebrook(15mins). Good luck.
First of all, well done on completing your pre-purchase due diligence.
Now that something has been flagged, the next step is to weigh up its significance. In this case, given that it relates to the title and may impact potential use, I would rate it as worthy enough to get some formal legal help.
I suggest you make a preliminary phone call with a local conveyancer or solicitor and then see what they recommend.
You could also call the titles office and ask them what it means, and whether they can provide you with some literature about notes on title.
Hope this helps,
– Steve
Yeah i think i might call the titles office first and see what they have to say. The townhouse is owned by a company it seems as there are a few for sale it seems they have developed and held for a few years before selling off. Does anyone know if it being a company effects the title or conveyancing process?
Im a big fan of YIP mainly because i was in it and they always change the stories and articles up a bit so its not repetitive but i did used to get API years ago but found it overly repetitive mainly with the growth suburbs and cashflow articlesa. Haven't had a good look at SPI yet. Hope this helps
Hey guys yeah it turned out well. i did have to end up paying s
omeone to install it which was still quite cheap. looks good i havent put the splash backs up as.i am currently tiling the whole bottom floor which.surprisingly has gone.quite well. I will post pics of the whole reno when it is finished