Forum Replies Created
Thanks for the reply cbellesini
I have had quite a few agents look at the house, and if I do use an agent I have a pretty good idea which one it will be. But I decided I would really like to try and sell it myself at least once in my life – so why not now?
If I have no interest after a month or two then I will certainly give an agent the chance to show me how its done.
As far as the advertised price goes I know that if I see a house advertised at $200,000+ for example, or $200-$230,000, then my reaction is that I will offer $200K at the most.
Do other people think this way? Or is my psychology just totaly twisted?
I know that some agents say it’s good to advertise a bit lower than you want so that you get more interest. But I only want one buyer who will pay the right price, not fifty buyers who want to low ball.
But I have never sold a property before, so this is all new to me. I have bought a couple but that is a different kettle of fish.He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Hi Mattb
I have recently re-done the whole budget thing, this time not as half hearted as some other times.
I have to say it took me a lot of work to get it up and running – late nights for about 3 weeks – but now that I have a system working it only takes about 10mins every 2-3days to keep up.
I actually used some software in the form of a very detailed spreadsheet, and I love it because I don’t have to do any adding up, just type in the numbers and watch all the work get done.
I got the software as part of a course I am doing called Crown Biblical Financial Study. email me if you would like to know more about the course, I think it is available Aus wide.
Good luck with it. Stick with it. After all, controlling spending is the foundation of wealth.He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Mate, you are an absolute legend.
He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
JC007, Do you have skills or experience in the area of building? If you do and you are confident that you can do a good job cheaply, then perhaps keep pursuing some way of building yourself. If you are not very experienced I would say think really hard about if you should try to do it yourself.
Building is not an easy game. Many unexpected things can go wrong. Like possums dying in the roof to name one of the least. There is a good chance that you will end up costing yourself more at the end by doing it yourself. It may be better to let a builder take the building risk for a fixed price contract and let him make his profit.
If you want to share some of the risk, then you may be able to get a cost-plus contract, but this leaves you wide open to blow outs.
Good luck with the deciding.He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Rats, rodents and roadkill for ferrets. 6 weeks of of stinking possum. What a thread!!! Hooray for propertyinvesting.com!!!
He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
The builders deserve a piece of the pie if they have a part in the project. The question is how big a piece. But if the pie is good, why not share it around?
Remember what Steve says, “Look for the win – win.”
Cheers.He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Hi JC007
Please don’t quote me on anything, but here are a couple of thoughts to investigate further.
You may be able to build one of the units as an owner builder if you are prepared to live in it for at least a year. I THINK you can now get an owner builder permit once every 3 years, so maybe build one, then wait and do the other later. Not really what you want I expect.
Another idea I have been toying with is if you have a good relationship with a builder see if they will agree to build it for you, but let you do most work and buy your own materials. You could offer them an upfront fee to cover their risk.
Or maybe get them to do the job on a cost-plus basis, then you subcontract to them and give them a great deal on all your work, which then gets charged back to you. (Confused yet?!!)
With the right company structure this might work, but you have to be friendly with a builder.
Good luck!He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Thanks again all for replies.
Good news is the smell is starting to fade.
I am wondering now if the first time they turn on the air-con system whether a big puff of possum hair will blow out one of the vents. That could really cause laughs.
By the way, heard a trick to make possums relocate. If they live in your roof, sneak next door and smear peanut butter on their tree. A bloke at work said he did it and the possum moved to the neighbors. Then the neighbor was telling him about this possum that had suddenly moved in, so he told her to peanut butter the next house along. Worked a treat apparently. But only if you don’t like your neighbors.[biggrin]He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Thanks all for the comments.
“Wait and see” is probably what we will do. Its already been over 2 weeks and that is what we have done so far. We might also put some sort of air freshener through the air con system before handover.
Anyway, never a shortage of problems for builders to solve.
What does McKnight say? “Problem + Solution =Profit”
I wonder how I profit from a dead possum?…..He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
The Jack Russell might work.
I havene’t talked to owner. I just work there, so it’s really up to the supervisor. The owner did visit the other day, but I did not hear if she commented on the smell. She doesn’t usually say much anyway. Just has a look around, asks a couple of questions and goes again. I think she gives all her comments to the Architect. Then he gives us a few more alterations to do, but no time extensions to go with the alterations. Grrrrrr…..[angry2]He is no fool who gives what he cannot keep to gain what he cannot lose. – Jim Elliot
Hi Property Passion
For sound reduction:
Windows need to be double glazed – expensive but also great for insulation.
You could build solid brick walls ie. not brick veneer. – also expensive.
If you are planning a rendered look, then there is a system of putting sheets of polystyrene 70-100mm thick onto the timber frame and then rendering over top. If done properly this system works well, great insulation, and also sound too I guess.
But all these are for outside walls.
For inside you can get insulation batts that are also designed for sound reduction. Put them in ceiling and walls. Again, more expensive than normal batts.
Also would need a solid core door, not hollow – yes you guessed it -quite expensive.
My only idea for cheap stuff is line all the walls with egg cartons and call it art?[specool]
Or maybe line the insides of the walls with egg cartons. That should get a great expression from the builder when you ask him to do it.[confused2]
CheersThanks all.
I wasn’t really planning to sign such an offer, but just curious about the idea
CheersHi
I would be interested in some discussion on the role of a Mentor. For people who have never seen a mentor-protoge relationship up close, what does/should it involve?
Is a mentor like a parent, teacher, private tutor, wise old sage, hollywood style martial arts master, Godfather figure?
Should a mentor be an investing partner?It just seems to me that the majority of “normal” people never have or talk about mentors, but succussful “going places” people always seem to have mentors. So from a previously “normal” person, what’s it all about?
So you should never buy without finance pre-approved?
Thanks for your thoughts Brenda.
Another question: I have read both of Steve’s books and would like to buy some more of his resources but am unsure what would be most valuable to get first.
Does one of his resources have example templates on the type of due diligence to do when choosing an area to invest in? For different strategies?
CheersThankyou all. I (I mean my wife!!) ended up finding them at the Law Institute of Victoria. Order online at http://www.bookshop.liv.asn.au or ph (03)96079348. A pack of 5 for $15 plus $3.50 postage.
Good investing everyone.
