Margater Lomas has been warning for about 6 months on the sky business channel about investing in mining towns……

wealth4life.com wrote:
I warned this in my posts over the last few months

well done for calling this before the event. I believe there were others also….

no offense Steve but once again you are closing the gate after the horse has bolted.commodity prices have been falling for nearly a year. the only reason big mines are not closed is because they had a huge backlog of orders. demand has dropped by 80% and once these back orders are filled the fit will hit the shan.why did you wait till now to post…[Read more]

update.Woody Point Professionals is the agency.form 11 was served Nov 21. repairs still not done. have not paid rent since this date. after 4 weeks, rental manager came to inspect the property. we went through the list and the RM dismissed every one of them. here is what she actually said:"locks on the windows? you dont need that!……..a lock on…[Read more]

normally advisors will recommend a 5-10 yr minimum period for investing. at your age, you dont have the luxury of taking risks. If I were you, I would be downsizing the house & investing the rest after consulting a PROFESSIONAL INDEPENDANT ADVISOR.It is unlikely you will get a good rental yield on a house worth millions, so it must be sold. There…[Read more]

"that area is going to go off with the new tennis centre"it is? how do you figure that?

ahh a unit, well thats entirely different.I assumed you were doing this in a house going by the 'knocking out the wall' part.rudi, its a false economy to chip off the old tiles. will take forever, and the surface will be so rough & damaged you will have to replace the fibro anyway….

careful about taking advice from someone who suggests using gyprock in a bathroom…..1. first, you need to install tile underlay (like fibro but specially for tile floors)2. allow plumber & electrician to rough in3. fibro all walls with 6mm fibro (dont use 4mm although its cheaper. it makes walls less flat which makes tiling look aweful)4.…[Read more]

cut_the_chase, how much would you charge for:1. having your family woken up at midnight2. having to spend 1/2 hour on the phone, getting dressed, looking up address3. driving 1/2 hour to location4. doing 5 min job (customer avoids waiting a week for service like everyone else)5. 10 mins doing invoice & getting payment6. driving 1/2 hour home7.…[Read more]

"Don't you have to declare all foreign-earned income in your Australian tax return?"yes"And won't that mean it will be used when calculating your taxable income?"no, because as I already said, if income has already been taxed by another country, then it is tax exempt in Australia. the variation on this is dividends which provide a tax credit. but…[Read more]

in the long run, yes. but in the next 5 yrs…. NO

As a tradesman, you often spend time on sites at various stages of completion. This gives you a basic understanding of how a building goes together and the process of works. In addition, you often work while other trades work, and see what they do. As a sparky I’ve used many materials & many tools over the years, and I was confident I could lea…[Read more]

its crap. because its painted on the finish is poor. when sprayed on (by a pro) the finish is great, but the cost is high. a new bath is often the best fix.

go for it David3x3 can be split into 3×1 + 3x2both will be adequateit should cost around $4 – $5k and add $10 – $15k

Hi Vickybuilding inspections seem to be the same price, however solicitors seem to be 2-3x more expensive (maybe this includes searches?). Ive managed to find some info but I still dont know what the quickest settlement possible is for cash buys?Im looking for cashflow / development opportunities. Cant get finance as have no "income".I will have a…[Read more]

I nearly bought a similar property last year. In hindsight, Im glad I didnt. it wouldnt have been worth the stress & inconvenience.walk away

you left out a few options:4. sell DA approved site5. build duplex, live in one, rent out the other6. build duplex, live in one, rent out the other (after revalue both & borrowing more) then buy another site & repeat

whats wrong with bank interest?shares & property are currently depreciating assets, surely +5% risk free in a bank is better than -30% in other asset classes? sometimes the smartest plan is WAIT & SEEglad to see you are now not buying a property just to save tax. CASH IS KING

Hi JanetI would prefer to offend someone, get the message across & look like an ***hole, rather than watch someone lose big $$$ making a huge mistake.I am considered a 'professional renovator', ie someone who does it full time. I pulled out of the market 6 months ago because it became too risky. If a professional walks away, a novice certainly…[Read more]

your first sentence sums it up "i believe there is money to be made if i do it carefully & properly, but i don't know how."if you dont how how, then what is it you believe?what you really meant is "I hope like hell its possible, but I have no idea. please tell me what I want to hear!"renovated properties need to be sold VERY FAST.that just isnt…[Read more]