Forum Replies Created
Have a system whereby they are checking that the trades people have completed their work. Alot of them rely on the tenant calling them to advise that the trades person didn't turn up or the owner calling a couple of months after being advised of the repair and not receiving any bill.
Thanks Matt
Wendywoo
Sent you PM, if you didn't receive I must of done something wrong. If you didn't receive PM me and I will reply.
bfree2live
Thanks JacM
My broker is very experienced and I have been doing business with her for a long time. But I will definitely keep Richard in mind.
bfree2live
Hi MACQ
If it was my name I would post, hopefully somebody will tell me how to PM?
Thanks Richard,
Yes, starting to get a bit bored now after only 2 months! Nearly have my real estate licence, (just thought I should get it!!) looking into a small development at the moment.
At this stage my mortgage broker is looking into SMSF loan for me, if she can't help me I will contact you. I had previously asked a financial advisor that my accountant recommended and he was going to charge me $275 an hour. I thought surely I don't need to pay that to find out about a loan? He said it was very complicated! Enjoy your holiday in Canada
Bfree2live
Sorry, havn't been on this site for a while and can't remember how to PM somebody. Can somebody help me?
BTW, I know somebody who works at the biggest accommodation complex for international students near the uni and it goes in cycles. Alot of vacancy at certain times of the year (holidays, etc)
Hi MACQ
I live in Toowoomba, originally from Gold Coast. I've done a small development, renovated, etc.
Quality suburbs – Rangeville, East Toowoomba, Areas of Centenary Heights and South Toowoomba (East of Ruthven St) This is the area that I look in. Older style houses do have some asbestos but usually just wet areas. (not sure if this is a concern for you)
Steer clear of Harlaxton, bad area.
Best schools – Grammar (private boys) Fairholme & Glennie (private girls)
Private hospital – St Vincents. Public hospital – Toowoomba base hospital
There are areas in Newtown that are good, if you see an advertisement that says "tree lined street"they are usually one of the better streets but please don't buy just because of the trees! (-: Alot of older style houses (asbestos throughout house)
Glenvale has alot of new development going on but depending on where you are it could be a good 15-20min drive into town. People don't like driving far here, more than 10min is far!
Toowoomba is very family orientated and is the birth capital of QLD! It's not unusual for families to have 4 children. There are alot of beautiful parks, best park is Queens Park and is located Rangeville/East Toowoomba area.
I know two good Agents if you would like me to PM you. (no, not me)
Hope this is some help, good luck.
bfree2live
Hi MACQ
I live in Toowoomba, originally from Gold Coast. I've done a small development, renovated, etc.
Quality suburbs – Rangeville, East Toowoomba, Areas of Centenary Heights and South Toowoomba (East of Ruthven St)
This is the area that I look in. Older style houses do have some asbestos but usually just wet areas. (not sure if this is a concern for you)
Steer clear of Harlaxton, bad area.
Best schools – Grammar (private boys) Fairholme & Glennie (private girls)
Private hospital – St Vincents. Public hospital – Toowoomba base hospital
There are areas in Newtown that are good, if you see an advertisement that says "tree lined street"they are usually one of the better streets but please don't buy just because of the trees! (-: Alot of older style houses (asbestos throughout house)
Glenvale has alot of new development going on but depending on where you are it could be a good 15-20min drive into town. People don't like driving far here, more than 10min is far!
Toowoomba is very family orientated and is the birth capital of QLD! It's not unusual for families to have 4 children. There are alot of beautiful parks, best park is Queens Park and is located Rangeville/East Toowoomba area.
I know two good Agents if you would like me to PM you. (no, not me)
Hope this is some help, good luck.
bfree2live
I also wanted to add – When we originally looked in to subdividing our land we were told by council and our surveyor that Kurb and Channel might be required. We received a quote FROM COUNCIL to do this and it was between $4 – $5K. When we put in the DA COUNCIL ENGINEERS came back to Council Boss X and said that in this particular case kurb and channel wouldn't work. Council Boss X went back to council engineer and said, well how can we make it work? Council engineers came back with widening road, pipe work, etc – total bill $52K. Council had a meeting about our subdivision and nobody in council management was prepared to put their name on it to authorise it. Council Boss X tried to be backed up by council Town Planner A. Council Town Planner A disagreed and said to abolish the $25K fee. Council Boss X then went to council Town Planner B who also disagreed and said to abolish the $25K fee. Council town planners and council engineers have both said that kurb and channel won't work but Council Boss X won't sign off on it because it will set a precedent for all other future subdivisions of this kind. Council has no intention of ever putting in kurb and channel in our estate, it would cost them millions of dollars and the likelihood of other owner's subdividing is close to nil.
Hi Scott No Mates
Thanks for your reply. As you said – If all future developments are hit with the same charges. Ours is the first of it's kind in the area and council is trying to set a precedent with us. The land is in Regional QLD on an acreage estate, not many other block can subdivide due to the location of their houses. (most of the houses were built before the council rezoned or other owner's just aren't aware or have no intention of subdividing)
Why are we subdividing if it's so marginal? Council has put up it's infrastructure charges since I developed 3 years ago. We were expecting to pay around $7,000 for Council infrastructure charges but instead we are paying $18,500 plus another $25,000. So the council fees are eating into our profit margin.
Council Town Planners are telling their boss to abolish the $25K fee but he won't do it because he is afraid of losing his job if he does. (quoted from Town Planner)
Have you ever taken Council to court?
Hi Brunowa
An accountant would be able to best advise you.
It is my understanding that you cannot transfer equity from a PPOR to an investment property and claim the negative gearing benefits. So if you have a lot of equity in your current PPOR you would not be able to transfer this equity to your new PPOR. Do you have a large deposit for your new PPOR or will it all be debt? It is preferable to have all or most of your equity in your PPOR and all or most of your debt in an investment property to claim negative gearing benefits.
bfree2live
I have been on the internet for a few hours researching asbestos removal, etc and this link has alot of information:
http://www.deir.qld.gov.au/workplace/subjects/asbestos/householders/index.htm
Might help somebody else.
I found the information that I was looking for and that is, is it better to remove asbestos or cover it up? (if in good condition) This above document suggests to cover it up (appropriately following safety guidelines which is all outlined in the above link)
Even if I don't purchase these units I now feel reassured about the information that I've read and wouldn't be put off purchasing a property with asbestos in good condition. If the asbestos was in bad condition or a knock down was required I would have to factor in the cost of removal by a professional. As stated in the document above you can remove up to 10 square metres of asbestos yourself as long as you follow the safey precautions.
If I choose to look into these units further I will get a building inspector, see how structurally sound the building is and if it warrants the cost of covering up the asbestos with a non asbestos product.
Another thing that I learnt was that some trades people won't work on asbestos products (don't blame them) even if drilling holes for renovation work. All trades people, tenants and future buyers must be informed of the asbestos even if it is covered up. (future drilling, dry sanding, etc)
I also learnt that the professionals who remove the asbestos take it to a dumping ground where the people at the dumping ground dig a hole and sometimes have to break up the asbestos that is so meticulously wrapped in plastic sending asbestos particles into the air which is what the removal was all about – removing it safely without putting asbestos particles into the atmosphere. A bit of a contradiction don't you think?
I guess if it is covered up with a non asbestos product, you only leave a future problem for a future buyer but I'm more inclined to leave it as is, if it is in good condition (the above document said, "let sleeping dogs lie.") because not even professionals can clean up every single particle of asbestos and I think that it could cause more harm to the person removing it, future inhabitants and neighbours, not to mention breaking up the asbestos and dumping the waste in the ground. As most of us know it is not cheap to remove asbestos, it is good to know that there are other safe alternatives other than expensive removal.
If any professional asbestos removers read this thread I would love to hear your thoughts and experiences.
bfree2live
DWolfe, I have only done a drive by at this stage, all of the external walls, not sure about internal or roof. I know that the dividing walls are brick.
Depreciator, thanks for the tax tip.
bfree2live
Thanks Scott No Mates
Yes worth considering.
thanks
bfree2live
Thanks Ruth
I have read a few other threads regarding asbestos on this forum. It really bothers some people and other people don't worry about it. I think that I would prefer to take out the asbestos, just wondering whether it would be worth doing this or just pulling down the whole building and re building. The building is old and it might not be worth doing……
bfree2live
Thanks DWolfe
Yes it is regional. Yes, I'm considering self managing if I purchase. I'm in the process of getting my real estate licence so I am confident that I will be able to self manage.
I think I'll get a building inspection done and go with the building inspector. Even if I don't end up purchasing it will be a good learning experience, regarding the identification of asbestos, etc.
If I purchase it I want to purchase for land value only. Alot of research to do tomorrow.
bfree2live
One of my tenants vacated in arrears ($950) and my PM advised me that I could employ a debt collector ($165 and they take 20% of the money recovered) I asked what does the debt collector do that you don't do? Her reply was that they are not debt collecting specialists!
I thought that Terri Scheer didn't pay for the first 6 weeks rent, don't know where I got that from because I read their product disclosure statement and they pay up to 15 weeks as long as there is a court order (which there is) The PM didn't even ask me if I was insured, only gave me the debt collecting option! I asked if the PM would complete the paperwork because there is a lot of information that only the PM knows. She said no because she is no longer managing the property for me. (it was sold and the new owners are using the same PM) Unbelievable I was paying her to manage the property and she should of done this way before the property was sold! I've been waiting approximately 6 months for the money.
gronk007
No, I don't think that you are over reacting. I have no idea what PM's actually manage anymore?? I am considering doing my own Property Management. Have you considered doing it yourself?
