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Wow. Everyone so negative? The days of owner builder are gone… what a load of crap.
caet wrote:I am also insanely organised.My mum's an extremely meticulous accountant without a full time job. She could be an owner builder.
I am an unorganised university drop out with a few years in the industry. Although I think I could be, I probably shouldn't be an owner builder.
caet wrote:I have told friends absolutely NOT to do it as it would be a disasterIt can turn ugly very fast and potentially rob you of everything. Also even if you get everything right chances are you won't make money the first time. Having said that, the gratification of doing it all yourself would be huge and many people love it.
If you think you might, don't let anyone tell you anything different.Also if you see yourself doing it many times later down the track, that's another reason to go for it. The cost benifit would start to be getting up there then.
The best option would be to get a builder on board (for your first time at least) so you can use their lisence for materials and tradie contact list, but do everything else yourself. Many builders would be more than happy to stick with the hands on stuff, and leave you to do all the running around yourself.
P.S. I'm pretty sure if you're an owner builder you don't even need a license. It's just when you start to do things for others.
Don. wrote:but unless you have capital growth potential you should not consider at it.Speaking as a complete novice here but could someone elaborate on that?
I would guess that "rental income + capital growth" is the tripple bottom line.
So if you're getting 20% yeild by rent (somehow) why would you care if your growth is negligable?Also I have heard some quality anecdotal advice that rent doesn't depend on the capital value, but more importantly the "ability for the tenant to pay rent" or something like that. Yeah I was like whaaaaaat when I heard it too.
Anyway in other words the buying market is somewhat differnet to the rental market. Even though related they seem a bit distant when trying to work out a corelation and future predictions… Yes/No?
