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June 11, 2010 - 1:00 am

It was a good year for me i nearly replaced my whole income in positive cash flow in one deal.

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June 11, 2010 - 12:52 am

Toowoomba is a nice town i lived there for 9 months, good people but i hate the hills.

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June 11, 2010 - 12:01 am

I'd just get them in with a verbal agreement. It's in your own house so go on gut feel and a character you can mix with.

Just lay down a few ground rules before they come in but think most people will just know and adapt to this with a common verbal agreement.

If things go wrong they will probably just move out. You live there so it's the easiest tenant to manage. I use written agreements for rental properties but if someone is renting a room just get 100 a week (whatever you ask) and you move in it's done.

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May 22, 2010 - 2:32 pm

The solicitor is still doing an Real Estate Agents License coarse online so he can list them. It's imminent but no don't think there listing yet. I will email him in the next few days.

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May 5, 2010 - 1:51 pm

So could i live at the property or could someone else live there with me?

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May 5, 2010 - 7:47 am

Hi,
      If there is a License to Occupy can the property be then rented by the purchaser similar to the above circumstances but i seek a tenant to put in the property. This is Victoria?

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May 4, 2010 - 10:18 am

No it was a shop with bits and peaces of all sorts of things in Country town.

Guess what. I ordered 76 meters of Laminated Flooring @ $10.50 a square meter. Troodyg if it wasn't for you planting the idea in this thread i might not have done it. Thanks. I thought it was $50 a meter till this or something.

$1100.00 fully paid for and delivering all the way from Melbourne out to my country cottage! I'm looking forward to seeing it in the next few days! There was pine and a darkish red colour in this price so i went for the red and purchased from ebay. Including underlay and a cleaners pack thrown in.

http://www.formica.com.au/about.aspx

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April 30, 2010 - 11:54 am

When i posted this thread i was mainly wanting to have a yack about these specific ex commission houses that had come up from sale all in the one street and stimulate peoples minds of what their might be out their in your neighborhood as well. I new there we're two together and i know that the third one side by side could have been bought later.

I know the guy that lives there (he is my artist painter) and that all i would have to do is give him a place to rent and the government would sell that to. I was wandering if some developer would come along and buy those two together and twig that the three could be purchased. In my mind i thought that eventually getting the three, renting a while then developing the three lots. The street is in a low spot in a gully only in that spot on one side. If a pertaining wall was installed at the rear fence across the three lots and filled to bring it up to level with the road then eight units would go on the block and clean that street up more.

But what happens happened on the day and individual people own the properties now. Mainly just strugglers and first home buyers trying the get a foot in the market. I'm glad in a way i didn't get one. Because what was unfolding up to during and after the auction ended up being a block that i could build three houses on and possibly shift one house off it onto another block. Even if that takes a long time in the meantime it will be easily held positive cashflow.

I had a call before i signed the contract of someone offering 1/2 a million dollars to develop it. Quiet bizarre considering i wasn't really that keen to buy one at the time of posting but as i kept thinking about it then got toey and got into the financiers. I remember texting the agent (my first text offer) as i drove out of town on dark as the sun was setting i was thinking "i'm scared to text this offer, they will think it's scroungy and reject it and no way this agent will accept this offer for that block".

Interesting day. She came back on the Monday. I now have a signed contract and finance approved. This deal is all done and dusted.

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April 29, 2010 - 8:41 am

Sorry Qlds007 Wesuck approved the loan today just thankful i could get something!

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April 28, 2010 - 8:34 pm

No use getting a bond from the tenant in that case as VCAT will say that you gained money from electricity and or gas from the tenant at the granny flat and say it was unfair disadvantage and you will not be able to claim. 

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April 28, 2010 - 10:36 am

None. Agreed.

I take what bank will say yes until i can get up off the ground. I look for the very first instance of someone taking action and being proactive and following through toward either making appointments or any of the communications in between. Till date i have had to build relationships with bankers face to face and through to who finally presses the buttons.

Everyone's circumstances are different.

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April 25, 2010 - 11:52 pm

Hi thecrest i can confirm after speaking to my uncle and his son at the weekend at a family Reunion that he is retired from owning/ managing pubs/ motels and going into selling them. Also got myself a solicitor conveyance for FREE though i said i'd give $150 for each one. Nice contact . Based out of Sydney office and an office in Melbourne.  if you remember Big Brother years ago he was the Cop (Ben). Pubs and motels he will be doing out of Mooney Ponds real estate Melbourne. They're still organising licences and preparations yet.

Also had an interesting chat about all the history of the pubs, clubs and renovations he's (him and his wife and kids) done and resold over the decades. Back in the early days his wife was the cook for a 100 kids guess house on the farm i grew up on for kids that had never seen a cow but thought you pull it by the tail to get milk out of them.

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April 24, 2010 - 3:34 am

keiko wrote:

Jaffa, you say approach solicitors for finance, would you know the interest rates  they charge? and are they loaning out there clients money?
Thanks

I don't know off individual interest rates for any particular place or person but private lenders will be wanting to make 2.5% or so percent more then the banks i imagine and will be close to two digits. More in this current climate would probably be excessive. Relating to the persons post also they might be able to find a bridging loan until a regular mortgage is taken out later.

I just bought this up as a search but if you actually speak to people face to face and over office counters to solicitors and smaller businesses in the street etc could get onto quiet smaller places that lend out money and or they might refer you onto someone.

For example this was the basic's of basic search in google only and i also notices this firm in Melbourne offering mortgages. I searched 'private solicitors lending funds'.

http://www.equitilend.com.au/index.php?action=page_display&PageID=10
http://www.vernonsolicitors.com.au/

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April 23, 2010 - 11:51 am

'drafting services' would be your search term in Telstra Yellow Pages.

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April 23, 2010 - 11:44 am

god_of_money wrote:

Jaffasoft,
A draftsman.. how to find them? in the yellow pages?
Will they help if the building is not comply? Do I need to involve town planner?

Will contact Liverpool council as a starting mark

Yes to all of the above except a draftman (mine anyway) does the town planning consulting as well. They working with council all the time and often have good working relationships with them.

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April 23, 2010 - 11:35 am

Does this below criteria apply to residential houses?

 

All proposals must meet the following 'gateway criteria' (Victoria):

1. Projects are in areas experiencing high unemployment, a significant rise in unemployment or employment or economic vulnerability
2. Projects must be viable and ready to start
3. Funding for heritage projects will not extend past 2009-10. Projects will be expected to be self-sufficient and/or not require Commonwealth funding beyond 30 June 2010.

Heritage projects also need to deliver positive heritage outcomes. Issues which are being taken into consideration in assessing heritage outcomes include:

• does the project contribute to the heritage values of a place, including conservation, protection, adaptation or interpretation works?
• is the project consistent with the principles of the Burra Charter, management plans currently in place, and state, territory and Commonwealth legislation?
• does the project provide ongoing direct and indirect social and economic benefits in the community, such as by increasing tourism, or increasing the appropriate utilisation/value/rental returns of heritage properties?
• to what extent does the project contribute to one or more of the priority heritage themes ('A Free and Fair Australia'; 'Peopling a Nation'; and 'Diversity of Landscapes') identified by the Australian Heritage Council, and include elements designed to promote awareness of the activity, and of the social and economic value of the heritage property?

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April 23, 2010 - 9:57 am

A draftsman will know if you need to take it any further and be able to explain it in easy terms if you pop into an office for a quick free consultation chat.

l've had a few quick five minute meetings on site with a draftperson when considering a prospective purchase and each time been free but he also knows I've paid for there services in the past and will pay for it in the future if a deal goes ahead.

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April 23, 2010 - 8:19 am

You don't mention if you have any equity in other properties? Why does one bank from the next know that it's account conduct.

You need more cash or more security to offer a bank or some other lender perhaps door knock private solicitors or search private solicitors in google to borrow from but will be higher interest rates. Have you sold your car and furniture yet? Can you apply for a credit card (i wouldn't do this myself but maybe you could).

Subject to finance clause seems strange that is what a subject to finance clause is there for.

 

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April 23, 2010 - 4:32 am

That's good!

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April 23, 2010 - 3:43 am

If bad debt is paid i vaguely remember reading that it then stays on file for life.