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December 14, 2008 - 4:18 am

In Victoria particularly Warrnambool i know that the tenant is billed for the water consumption.

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December 14, 2008 - 3:17 am

My dad did one of these. 27k for about a 35 kilometer relocation. This was a few years ago now so petrol will be bit more now.

It included transport of the house in halves, joined and put on new stumps. The house itself was a structurally sound three bedroom hardwood, solid weatherboard on a farm paddock and bought into town. Bought for 7k. 

I've overlooked and learnt about the process. I seen it on the farm block and inspected it and then was there when the house was removed and put on the stumps on the new block and overseeing the works etc. I only lived next door at the time so i was directly involved. And helping out with odd jobs here and there.

That was the beginning on the work. Then a lot of renovating, some wiring, connecting of services etc took place. Fence put up along the side, rear Veranda. Insulation put in the roof. Peeling of old wallpaper and repairs here and there, painting.

There is a lot of work to it. It was for this one anyway. All up around 55k cash was spent and will value at about 120 now at a guess.

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December 13, 2008 - 11:39 am

CentralChoice wrote:

Apologies for the repetition. I will remember in future to only press post comment once.

It's alright CentralChoice…Cyber Cop to the rescue. "I tidied them up ". You're my first job as moderator.

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December 13, 2008 - 10:54 am

Hi Tim,
            Here's the details directly from the State Revanue Office web site;

Boost for First Home Buyers

The Federal Government has announced significant increases to the Grant available to first home buyers. The new measures now bring the total available to those buying a newly constructed home to $26,000 increasing to $29,000 in regional Victoria (subject to certain requirements).

First home buyers purchasing an established home will now be entitled to between $14,000 and $17,000 (subject to certain requirements).

First home buyers will be eligible for the new additional assistance for contracts entered into from 14 October 2008 to 30 June 2009.

Also some videos here:
http://au.youtube.com/user/firsthomebuyershelp

And there is a 3k bonus in Victoria and more details here:
http://www.sro.vic.gov.au/sro/srowebsite.nsf/whatsnew.htm#FHOG

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December 10, 2008 - 1:08 am

It's a pity there's not a law that will hang them. Lenders should make there money on interest and interest only. Simple and easy and none of these dozens of ways, fees and clauses where borrowers can get caught.

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December 7, 2008 - 12:26 pm

dallen_14 wrote:

Are you trying to build one now yourself are you?

Yep, going to look into it. It dawned on me that I could potentially put one or two billboards on the side of this building I own, as it's 7 meter high brick by 14 meters and faces side on for a perfect view of passing traffic. Not in a larger town where billboards are common but possibly might work for this unique situation if A). Council give the OK and . I can find someone to advertise. C). The number come out worth while.

Which reminds me i really should get down to Council to look into it!

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December 7, 2008 - 5:21 am

How could this be right? $1000 combined rent for a purchase price of under $40,000 What is this…Super Positive Cashflow. Why would the people renting it not buy it with an income to support that rent amount, they could buy it and rent one side and still pocket money.

 

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December 7, 2008 - 3:30 am

It doesn't load for me from clicking on in the forum either but if you Copy & Paste it into the browser address bar and hit enter it loads…not sure why??

http://www.mortgagewatchdog.com.au

I think it was because of the forward slash '/' at the end of the URL.

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December 7, 2008 - 2:23 am

I'm not sure but someone switched on will come along and give a better answer.

If it's only an offer been faxed and signed then they would be yet to process and print up and sign the official contract. I would ring the agent a.s.a.p and ask the agent then your solicitor.

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December 7, 2008 - 2:02 am

You could show the agent your numbers to explain to them why you need to purchase the property at a curtain price to make it work for you.

Take the agent to lunch or a coffee and you will knock down a lot of guards and they well tell you lots of things. I sometimes say if this property was this price based on my numbers to renovate and re sell, then when I renovate you will be the agent to get it re listed. Then they know that they sell the same property twiss.

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December 7, 2008 - 1:55 am

I liked what John Fitzgerald did. He did not go to work each day until he had knocked on doors until he got a new listing.

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December 7, 2008 - 1:48 am

I'm going to walk flyers around local businesses to seek expressions of interest. I have to seek council approval to put a bill board before i take that step.

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December 7, 2008 - 1:26 am

"Yes" that's right you need the rent to be at least double the asking price i.e if the asking price is $100,000 a quick simple way is to take the first three numbers and double it so $200 rent then the rent needs too be a little bit upward of $200 to make it +PC.

But if it's a house that could have $5 spent on in for example on painting or some kind of improvements and the rent increased to 230 and you also negotiate the asking price down to $85,000. Then you will well and truly have a positive cash flow investment that puts money in your pocket each week after all expenses.

Some user friendly property calculators here that can help with knowing if you need to pay less or more and experiment with different scenarios to see how it changes the numbers.

http://www.forpropertyinvestors.com/property_feasibility.html

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December 7, 2008 - 1:02 am

Hi,
     You could try the new Google sketch. It's user friendly but will probably also take a little while to get used to. But it's universal and you can do things like send the finished model in an email for people to open and have a look in Google Earth.

Probably a bit of a learning curve but it's all free and I think compatible with CAD and others as well.

This link is a Video to get you started and lot's more videos to help you learn it as well once at that channel!

http://au.youtube.com/user/SketchUpVideo

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December 7, 2008 - 12:45 am

http://www.mortgagewatchdog.com.au/  do this for mortgage statements. This is the one you see the Reno Kings and a few others promoting for mortgage checking!

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December 4, 2008 - 1:44 am

adld, what's the reason to buy the property with a 18 month lease already?

_FeRiO, maybe change your perspective a bit and decided that you want to buy and live in your new home and spend a bit of time there and go to stay at your parents place as well when you want.

Make sure your letters get sent to the place you buy. Also you can rent the place out there is no law against that or you can rent some rooms and stay at the place a few nights a week. Plus you don't need to be living there, so you could rent for 12 months and then on the 365th day then start living there for the required 6 months.

By 12 months time you might even want to live on your own away from your parents. I'd rather have a choice of doing that then not!

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December 4, 2008 - 1:35 am

I've got an option document if you would like to read it. Send an email to [email protected]

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December 4, 2008 - 12:59 am

duckster wrote:

For example on a 30% tax rate you actually lose 70% to get back 30% for negative gearing.
for a $100 lose a week you get $30 dollars back

For a positive gearing you earn 100% and lose 30%
For $100 earned you pay $30 in tax but earn $70.

Thanks Duckster that's the best explanation of positive cash flow verses negative that I have seen. So simple and easy and can see clearly what happens on both sides of the fence!

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November 19, 2008 - 3:56 am

There's a few  videos on youtube about him.

http://au.youtube.com/watch?v=BfTAof7Ce_o

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October 1, 2008 - 12:29 pm

I would work on laying down a savings plan and a goal of how much you will save by 6 month, 12 months and work on the budget to cut back on everything you can including different mobile hone plans, bills, bank account fees etc etc every little thing and start from day one TODAY.

Write in down on a goal today. Pin it up on the wall show mum and tell here what you plan to do she might even help you with some savings if you show you comit to it after a while.

Then in the meantime. Start looking through and searching for houses you will get one that is less then 200k if thats the going rate. Since you are a designer you will have a creative eye, view the property as a blank canvas and again be creative as to how you can increase the value of the property by adding value with not using much money. Research more in this forum about that. As it is improtant to making the money.

You might just want a house to live in but why not make money at the same time. We are not the US and do not nearly have as much economical problems as the us. the problems most people come into comes down to budget people are just way to spoilt so if you know your plan and your own budget and you do the numbers to what you can sustain within that budget then you are one step smarter the millions of people that lose there house because they buy smoke, beer, petrol, they drop into the shop on the way past to buy a picnic and the paper and a packet of chips then a few gadgets and run up high power bills, then they get hungry and go to Macca's to fund Mcdonalds investments with $10 worth of burgers and all the other hundred of things peole can waste there money on. Then finally they get home cry because they have to sell there home because hey have spent all there money.

That was a long paragraph you get the drift…