[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

January 31, 2006 - 11:46 pm

thanks for your help – i will get in touch with pmdirect.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

July 21, 2003 - 8:11 am

Jenman’s success in real estate has come from honing in on people’s greatest fear – being ripped off. He has used this as a strong marketing tool, but having worked in the industry for many years, his principals are based on common sense – principals that all agents should abide by. What sets him apart from other agents? Well, he just talks more about the way things ‘should’ be done. I’ve dealt with a few Jenman agents and I dont think they’re any better than non-Jenman. In fact, its a bit of a joke when you consider they are supposed to be the angels of the industry!

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 15, 2003 - 11:13 pm

Can someone explain to me how the 50% discount on CGT applies to individuals. Why is there a discount?

I suppose I should already know this! []

Thanks, Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 15, 2003 - 11:04 pm

Hi Banner,

Living in Country NSW I can tell you that there are great opportunities out there. I would think you will need to focus on certain areas and go from there (whether it be Lismore area, Wagga area etc etc). The most important thing though is to research the areas well. Having lived in Wagga for 2 years and now Albury, I can tell you there are some nasty areas/suburbs that if you bought into due to low pricing you would soon regret the purchase. High vacancies and poor quality of tenants are just the tip of the ice berg.

Hound the local agents for information. If the selling agent sounds cagey about the area chances are its dodgey. You could even ring the local council or police station for advice.

Wishing you every success. []

Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 15, 2003 - 4:03 am

Thanks for your replies.

My motivation to do the diploma is really to get my real estate licence. I started working in real estate in 2000, and whilst I’m not working in the industry currently, I can see opportunities ahead which will be of most benefit if I have my licence.

I have done the “Statement of Attainment” or “Agents Rep” (last year) and so have been motivated since to go on further. Admittedly, I did the course only because I wanted my agents rep – the course content I basically already knew.

Having looked through the subjects in the full diploma I dont expect to find myself totally enthralled in the subject matter – most of the time it deals with the ideology of the industry rather than what “is”.

If someone asked me if they should do the agents rep, and they’ve never dealt with real estate before I would speak favourably about it (as Hilary said, it teaches you the basics), but for those a little in the know they would probably find it a tad boring.

So, I hope this gives you a better idea of my motivation.

Bye the way, my passion for real estate has grown since it no longer became my “day job”. Getting my licence is something for the future, and I’m aware of the conditions the REI impose.

Lenny, did you do the short version of the course (intensive version which is more seminar based than text book), or did you do the diploma at a tafe college?

Thanks for all your feedback.

Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 14, 2003 - 11:15 pm

Hi Sooshie,

Does your brother-in-law wish he never demolish the old house?? A block of land recently sold in my street after the oringal owners bought the property to build a new house on. They demolished the old house, then got quotes to build, soon realised they couldnt afford it, and the block lay untouched for years!

Have a great day.

Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 14, 2003 - 11:01 pm

Hi Pete,

You’re doing the Agent’s Rep certificate (4 modules), right? I have already done my agent’s rep in NSW, and wanting to go on to get the full diploma (which entitles you to become a licensee). If you find at any time you get stuck doing your agent’s rep course let me know, I’ll be happy to help you.

Thanks,
Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 14, 2003 - 7:09 am

Political motivation aside, wouldnt it be a question of whether the transaction is going to benefit you in the long run, rather than saving 1% on stamp duty?!

I dont like paying stamp duty any more than the next person, but its an “evil” i can do nothing about! Only other choice is to not invest, but think of what you could be missing out on!

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 14, 2003 - 7:01 am

Hi Nessie,

I may be a little out of the loop – being in Albury – but I’d be pretty confident in saying that that price is damn high. Mind you, there are a lot of variables when looking at quotes – ie excavation required, additional structural needs etc etc.

Still, I’d be doing more shopping around if I were you.

Good luck!

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 14, 2003 - 3:39 am

The figures quoted in the article are indicative of the huge rise in building costs in recent times. Whilst I dont agree with the figures, the principal of whats happening is completely true.
I’m in the process of getting quotes to build a 4 br house and its amazing the different prices being thrown around.

I’m finding that if you go to the builders direct, they quote huge prices simply because they dont want the work. They’re booked out 12 months in advance, and if they snag an unknowing buyer at $80,000 or so above realistic prices then they’ll be laughing all the way to the bank (and very obliging to your needs by the way!![])
If you go to marketing companies like Executive Homes, Glenbrae etc, the prices are more realistic.

So what I’m basically saying here is, yes what they’re saying in the article is true BUT look around and find companies which represent builders. Not only will the prices be fairer, but you’re protected by contracts which prevent unjustified price rises.

Hope this sheds some light on the subject.

Oh and by the way, where I live (Albury) allowing $8,500-9,000 per square (not square metre) is reasonable.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 12, 2003 - 4:38 am

Hi “APIM”,

Thanks for that.

I was aware that theres a risk when ‘trading’ PPOR’s regularly – ie. buy, renovate and sell in a short period of time I would open myself up to possibility of being investigated but for some reason I had in my head that I needed to have the house for a minimum of 12 months regardless (to avoid CGT).

I’m pleased to hear that theres no set time limit as such, however obviously I would need to be very careful with what I do.

Once again thanks for the info. []

Regards,
Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 12, 2003 - 2:16 am

Hi fullout,

Buying an investment property with a pool can become a bit of a nightmare.

From experience (I used to be a property manager), tenants get excited when they see a sparkling pool and have visions of pool parties all summer long etc etc etc. It becomes a totally different story when they realise the work that goes into looking after the pool (and by the way, they dont look into this before they sign the lease!).

So what was once a beautiful looking pool sometimes becomes a murky cesspool – filters bite the dust and if its a concrete pool and it stays murky for too long, you’ll need to repaint it.

So in short, I wouldnt touch it.

Good luck!

PS I read your post about the land in Melbourne, and the nasty clauses that seem to go with it. Can I ask where in Melbourne the land is?

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 8, 2003 - 10:43 pm

Thanks for that info Michael & trueblue. I’m pleased to learn that I can deduct the tax – it makes the project far more feasible.[]

As mentioned in my other post, getting an acceptable price to build is going to be the biggest challenge I feel! In case you’re confused, I’ve bought 2 blocks in the estate. One will be built on as our primary house, and the second for my IP.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 8, 2003 - 10:40 pm

Hi Michael,

Thank you for your response.

In answer to your questions:

“It’s in Albury? Level site? Good access? Size of block? Does the garage have to be attached to the house?”

Yes the block is in Albury. The land is very flat with great access and the block size is around the 750m2 (can’t remember exactly – havent got the plan in front of me). The land is in a new estate.

I would like the garage attached, and appears the most economic way of doing it anyway. When dealing with suburban blocks, there’s little room to have the garage detached from the main house.

Unfortunately I dont have the house plan in electronic format so I can’t get it to you, however it has been designed specifically to keep the costs down – nothing elaborate, just contemporary and open plan. My partner has built 3 houses in the past 8 years, so has been great with tips on how to keep the costs down.

Doesnt seem that the builders are prepared to listen the “keeping the costs down” request! [!]

Your assistance/suggestions would be most appreciated. []

Regards,

Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

May 7, 2003 - 6:53 am

Thank you Soma & Chandra for your positive feedback, I appreciate it! []

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

April 14, 2003 - 7:23 am

Hi everyone,
Seems to me that some people invest more effort into proving something wrong, than embracing the concept and making it work for them.
Sounds like self-induced failure before you even begin!
A.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

April 3, 2003 - 12:01 am

Hi Sooshie,
I saw the Today Tonight interview last night as well. Its possible for them to “hand back” money to the borrowers because its not just the initial referral commission that the brokers get paid, its also the ‘trail’ money they get for the life of the loan. Some institutions pay a small (very small) percentage of the interest paid on the load to the broker for the life of the loan. So I’m thinking that they can afford to refund some of their commission because of the potential money they stand to gain, long term, from your loan.
I watched, like so many others I’m sure, thinking “whats the catch”??? But I think it could be a genuine thing – Is it possible to have a broker that genuinely works in your best interests??????? []
Happy birthday to your daughter! [:0)]
Regards,
Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

March 26, 2003 - 12:02 am

Hi Tom,
Theres a big difference in people’s definition of rural towns. Would you classify Albury-Wodonga, or Wagga Wagga a township? They are in fact cities offering great investment opportunities. Other rural cities in Victoria that I would look into are Wangaratta, Shepparton, Ballarat etc. My advice would be to steer well clear of ‘townships’ with population of less than 20k. There’s much greater risk of buying into a ‘stale’ are with limited opportunity for growth.
Well, that’s my opinion anyway!
Andrew.

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

March 17, 2003 - 7:01 am

Termites are a bit of a sore spot with me at the moment because I am currently rendering my house, and uncovered (last week) an area that has been eaten away by white ants. Luckily the ants are no longer active, which means the pest inspection I had done when I bought the house 6 months ago was in fact correct! There were a few tense days where I thought I’d been ripped off big time!
I rented a 2br brick and tile unit last year which was only 6 years old. The termites moved in about the same time we did and were viscious enough that they ate through the plaster to get to my timber furniture (let alone the ‘soggy’ walls that we ended up with).
Put simply – definately get a pest inspection with what ever you buy (incl. ‘solid’ brick buildings), and as a precaution, have your property checked every 12 months at least. There’s no insurance for termite damage… so who can afford to have their precious investments literally eaten away??

[andrewkimber2Participant@andrewkimber2Join Date: 2003Post Count: 27]

March 15, 2003 - 5:11 am

Hi Steve,
My goal for doing the diploma is to ‘open up’ my options re a career in real estate. I’ve worked in r/e for approx 3 yrs. Currently I am working in IT, and am enjoying the break from the usual carry-on of a property management position.
Essentially, having a licence will broaded my options, but I dont have any immediate plans of going back to work in the industry. Funnily enough my passion for real estate has grown enormously since I stopped working in the industry!
I’m hoping that the course will provide me with a better foundation, however knowing the reputation of the academic world, I doubt the course will shed much light on how “the real world works”.
I was hoping that someone on here would have done the diploma so I could get an idea of whether it would be worth my effort or not???
Do you know anyone thats done it?
Thanks,
Andrew
[email protected]