Forum Replies Created
Hi Dazed,
We had the same thing. As the landlord you are responsible for the property being kept in a secure condition.
You'll need to replace the screens and door, obviously, and the tenants may want you to put more security in place such as security screens or security door, this is at your discretion. If they are good tenants it may be worth making them feel safe again in the property, even if they move out, the property may appeal to the next people as there is more security.
Hope this helps.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeDarn!
It was good, I sat next to JacM, and had some very friendly comments about my shoe choice LOL!
I'm looking forward to Steve's eBook. Should be good, but geez I really do prefer a book with paper pages!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeActually, when I was picking up a mini fridge, I saw that the Grays Melbourne warehouse had a stack of front doors. I'll have to check them out too, it's on my list! With grays though the pickup can be be Vic, QLD or NSW so not always easy to get.
If anyone finds snow white quartz stacking stone cheap or Blackbutt flooring can they let me know!!!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi AJ,
Has Bayswater peaked? Do you think you can pretty much get top dollar at this point and get out with a good profit?
What condition is the TH in? Is it still in almost brand new condition? Have you talked to an accountant to see what kind of depreciation you can get? This made add more dollars into your pocket.
Bayswater is always going o be a good rental suburb, plenty of working people, train line, schools, new supermarkets, nice new apartments going up, plenty of new development turning over the scabby old stock. Re-gentrification is a lovely thing.
The main thing is to do the numbers, will Bayswater be neutral or positive cash flow, if not will it suck so much money out each week or month that you can't get into the Eltham property? It's going to come down to how much money you can afford to put towards the Bayswater property. If it is not cashflow positive or at least neutral you will be speculating that you may have a capital gain, can you afford to speculate?
As far as Eltham goes because it will be your home, you'll probably want to buy, do you know the area, is there particular pockets you want to buy into, have you lived there before? The good thing about renting when you first get into a suburb is you get to discover the area, really discover. You find out how quiet or noisy it is, or that you may like to be a bit closer to the shops, once you buy, you have to like what you have bought.
I can't tell you what to do, but I hope this gives you some more questions to ask yourself to help make a good decision.
Good luck!
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeYou get good and bad in all areas!
Considering that DHS have houses in even the ritzy suburbs!
Just understand what you are buying there are some great comments above. The employment thing is important, one of our tenants have just lost their job and are vacating this month. Get a good property manager an they will know well in advance any hick ups that are on the way.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeYep, this is getting annoying!
I though it might be if people edited their posts.
Hope it gets fixed soon.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi All,
So many people ask how do I get started?
So I'll ask it, How do I get started?
Well, why wont you tell me?
How long is a piece of string, what's it made of? What colour is it? Where is the string located? Does the string have other strings intertwined with it? How much is the string?
This forum is great, you can share heaps of info, and yes plenty of people have started here without much cash and a good savings ethic.
People have sacrificed to get where they want to be, they help people with whatever info they can.
No one can tell you how to do it yourself. They really can't because you are an individual.
People always want the quick answer, they want to be told how, but no one can. Your story is different from mine, we may live in different states or countries, have different amounts of money, or family commitments.
Fadetofacerentals, when you are successful (if you are not already) then you will find very quickly that there are no easy answers or solutions, and that if everyone could do it the same way as you we'd all be rich and really quickly.
What if one person 'made it' by moving to WA and working 6 days a week until they saved the money and bought their first house? Would that be the best way for everyone? What if someone else inherited money and used that to create wealth, would that be the way forward for everyone? One size doesn't fit all which is why people can find a lot of – hey maybe you could try – but no exact answers. Coz it doesn't work that way. This isn't meant to be rude, but to point out the lack of easy answers.
With regards to finding a mentor, you could try Steve's apprenticeship or Results mentoring or for property development Rookie Developer.
Good luck with getting started Lyn, many people have started here with very few ideas and come away much more knowledgeable.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeYeah, it's great for a first time!
What's the right answer for you Kong? How much is it worth to you? What will the market pay?
I'd love to give you a figure but not knowing the area, I can't. It's really going to be what you think the extra work, etc with worth every week. You can always start low and work on increases later. You have to also weigh up the risks with asking too much and having people put off by the price.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeDepends on the market,
Looks good, nice and clean, no clutter, colours match.
I try to put something 'live' in the rooms too, so a plant, or flowers or even dry coloured twigs if I can't put a plant in. It's a hassle coz they need water or changing. Succulents are good in a coloured pot.
I think you've done really well, considering this is a house to be shared by yourself and others, still needs to function as a home too!
Good luck!
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHey Kong,
It's great, the only fault I can pick is the chair under the microwave, but then in my dream house I'd probably have a chair in front of the fridge :p lol!
Good on you Kong, hope you make some good money and you can get this too work without too much hassle!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi Kong,
I think as to the agreement, it can be what you and the tenant are happy with.
Make sure you get everything in writing from your landlord, and get everything in writing from your tenant. (Obviously)
As far as the rooming house part is concerned I thought this was only for 4 or more people sharing one house on separate leases. Have a check on the local council website and see if there is any documentation, failing that ring the council and ask them to post/email you out any written material they have. Always in writing.
You can also ring consumer affairs and see what info they have.
You may want to arrange a lock for the door more for the tenants privacy than anything, but I'd tread carefully with that as you want to make the door can be easily opened if there is a fire or other emergency.
Hope this helps, Just keep asking questions until you think you have covered all the bases.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi all,
Considering the Parkers are not selling the Complete reno system any more as they are making so much money from renovations and property development, I'd say it's probably worth it if you can get your hands on a copy. I have it, but haven't been through all of it yet.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi All,
Yep there is better value out there,
http://www.realestate.com.au/property-house-vic-colac-110190765 (disclaimer this property may not suit your investing needs, seek professional advice for your situation blah blah etc)
The reality is that you can get cheap property, and good rent, but it may not actually be anywhere near Melbourne. Or Sydney or Perth or any capital city.
The good thing is these regional areas do get some growth and you can add value through reno's when you get more confident.
My opinion.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeGreat suggestion there from Feckle and all the other usual excellent minds!
I have a couple of big goals, then I start breaking them right down. Set a timeframe, even if it seems slightly unachievable, you'll make it happen if you want it badly enough.
Stick the goals to the fridge, or somewhere else highly visible. I have to explain to my kids what stuff means that I have stuck to the fridge, it's a really good reminder!
And take every day as it comes, pick one thing, tackle it, pick another tackle it etc etc.
The last thing I do is celebrate when I have a win, doesn't have to be big, then you get used to feeling the accomplishment.
If that all fails, I have a good whinge to get it out of my system, then I move on.
The goal setting is really important, it stops a lot of the fussing around with 'will I, won't I?" because you start to 'know' what you need to do, and you can get on with it.
Keep going Michelle, one foot in front of the other, you can win it!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi chrisgirgis, (and anyone else interested)
You can have a look at Rookie Developer – http://www.rookiedeveloper.com.au/ They run a mentoring program specifically for development. There is also a bus tour coming up (I went on the one last year, great day, very full on) which you can go on if you want to get a feel for how Rookie do their thing.
This is probably one of the only groups that don't JV with students (happy to be corrected if anyone knows of anything else) so really just about development education.
Hope this helps.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHey Dubs and Jamie,
This made me grin!
We moved just over a year ago to a PPOR (finally!). We have moved pretty much every year for the last 10 years. I've lived in about 17ish (lost count) houses over my life in 3 different states. The move from WA back to VIC was the most interesting as everything got loaded into a shipping container and it the car went on a train over.
Now with the kids, its gotten harder, but I'm sure we'll move again….gypsies maybe?
The packing is such a pain, but I love chucking stuff out! We've had a couple skips at this house (reno stuff) and have had sort of a mini cull like with moving. You just get 'stuff' don't ya?! We had 2 truck loads last time
Good luck with the packing, the move, the holiday!! Send us some Epostcards!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHey Dubs and Jamie,
This made me grin!
We moved just over a year ago to a PPOR (finally!). We have moved pretty much every year for the last 10 years. I've lived in about 17ish (lost count) houses over my life in 3 different states. The move from WA back to VIC was the most interesting as everything got loaded into a shipping container and it the car went on a train over.
Now with the kids, its gotten harder, but I'm sure we'll move again….gypsies maybe?
The packing is such a pain, but I love chucking stuff out! We've had a couple skips at this house (reno stuff) and have had sort of a mini cull like with moving. You just get 'stuff' don't ya?!
Good luck with the packing, the move, the holiday!! Send us some Epostcards!
Cheers
d
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi all,
I've got a mixed bag, some buy and holds, reno, development. It's really what's working numbers wise at the time.
As Nigel said developing is really, really awesome!
How else can you split one property into 10 or more LOL!Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeHi Kat and JacM,
You can do a one bedder, as JacM says it has to be in smaller building. But also has to be a true one bedder. There have been some successful renovations where people have created one bedroom units from bedsits, and 2 bedroom units from one bedroom units. It's really about the numbers and what works for you.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeThanks everyone,
(and yes I did have a laugh at some of the comments!)
Kat13 this was pretty much why I posted this, I can't imagine that governing bodies will allow something to continue that may cost lives. Better to get it checked every year as a landlord and to be in control.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
How else can you split one property into 10 or more LOL!
