[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

December 9, 2007 - 1:28 pm

Hi Paul

I have worked for the last 6 months as new homes consultant in the Butler area just up form Clarkson. I think its a great suburb and still has a lot of potential with the Marmion ave extension to be completed within 12 months, and the freeway & rail within the next 10-15 years. Its still a relatively new area, but i feel in years to come an investment property in Clarkson would be a great piece of property to own. If you purchased two years ago, i would imagine that you would have quite a lot of equity in this block. IF you were going to sell, one would hope that you had plans to re-invest the money you have made! If you do need help with building a new home though, i would be more than happy to help. Feel free to PM me if you want more info.

Cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

November 28, 2007 - 3:27 pm

i have a few queries to add to the above reponses, seeing as you guys have been so informative so far!!

i am currently in the real estate industry, and i get a lot of finance enquiries in my position (3 or 4 per week). I currently have a working relationship with a broker who i refer all my clients to. My broker does finance for all the clients and then i , hopefully, sign them up for a new home!

i was interested in doing the cert. IV in financial services, mainly for my own knowledge and to assist me in pre-qualifying clients before i refer them on to my broker (mainly to avoid giving him dead leads and wasting his time!).

I didnt think there was ever a chance that i could write my own loans, as i thought i had to have a couple years full time experience as well as the cert iv. It seems now that this isnt the case, but im still not entirely sure on what exactly would be required for me to be able to handle all my clients finance.

would love to hear what you guys think, as to be able to handle my own clients finance as well as their new home purchase would be fantastic!

thanks in advance!!

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

May 4, 2007 - 11:19 am

hey happyjack

I currently work in the industry in perth, and feel that danmar homes build a good quality home. Having said that, every single builder in perth has its success stories, as well as disaster stories. Unfortunately this is just the nature of the booming industry in WA at the moment. It is every builders goal to provide a high quality home as quick as possible. This ultimately means more profit, which is why we all do what we do!

Hope my comments help. The building process is always going to be a stressful occasion. Dont forget that for every single project, the builder wants the client to be happy, and the construction to be of the highest quality possible, every time.

Cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

April 23, 2007 - 2:15 pm

Thanks for the responses so far!

"The way around it might be to borrow to buy another income producing asset?  Something that will make a loss but be very likely to make a capital gain."

in regard to the above… im not sure if i would have the cashflow for this. Can you please elaborate further on this though?

Cheers,

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 27, 2007 - 4:30 am

Thanks Art, your suggestions have been very helpful. Thanks also to everyone else too!

Hopefully i can work all my stuff out in the coming months. Now i just gotta finish off my house so im not walking round on concrete floors anymore!

Cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 25, 2007 - 5:58 pm

Hi all

thanks for the great replies thus far.

My main worry is that my current PPOR is a new home, only just completed 1 month ago, and things could get damaged quite easily.

Am i within my legal rights to take a bond if i am managing a property myself?

I just want to know that i have the same protection and backup with contracts in place etc if i am to manage the property myself.

Cheers!
Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 25, 2007 - 5:50 pm

Thanks for all the great responses!

Originally posted by Mortgage Hunter:

Should you draw that $100K to buy a Lexus then your original $300K loan remains 100% deductible. If you had kept the money in the home loan and redrawn it then you will now have a loan with $200K deductible and $100K (for personal use) not deductible.

in reference to the above quote, when you say “deductible”, are you saying that this is the amount on which interest must be paid?

and if for example you take the 100k out of the offset account for shares etc, then why wouldnt you then go back to paying interest on the full 300k loan?

i am beginning to understand it, though there are still some grey areas that im not sure of yet!

cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 24, 2007 - 3:09 pm

hey

try asking them to present you with a better way of investing. sounds like maybe they fear what they dont know?

i guess all you can do is show them the facts and hope that they realise how many oppurtunities there can be.

this is a hard one

where are you from ?

Cheers
Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 24, 2007 - 2:22 pm

thanks for the advice terry!

can you please explain how the offest account works ?

regards

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

January 24, 2007 - 1:41 pm

hey

you could pobably look in the TV Guide. i always see ads offering colorbond patios etc.

otherwise..depending on where u want the work done and if you want it to be a little more complex…i know that Xtra Construction do a lot of work SOR. they are in rockingham.

cheers!

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

September 14, 2006 - 11:00 am

so you’re the ones flogging all my bloody building materials from my jobs….

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

September 6, 2006 - 3:14 pm

Originally posted by sme:

Because of your lack of planning and experiance the plumber and electrician would not have made a cent out of your job. As a dumb renorvator hope you have made your money.

Looks like someone has been caught out many times doing sh@#ty work!

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

September 6, 2006 - 2:55 pm

Hi Daniel,

The cost involved really depends how you want to finish off your house (granite tops or laminate?..tiles or floorboards? etc etc ). Personally, i would finish it all off yourself, rather than getting the builder to do it. Simply because, as you said, builders dont include these items as a standard. It is because of this that everything they do for you, they will put a big margin on top. Sure, they may get the price for curtains carpets etc cheaper than you can in the first place, but i still think its better off done by the owner after handover!

These are just my thoughts, and there are always many reasons why people do things certain ways…you just have to work out which way will work best for you!

cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

September 5, 2006 - 2:07 am

Hi Shrimpo,

If you were to receive your first home owners grant, you need to live in your home for 6 months, within the first 12 months of owning the home. there are further details at http://www.firsthome.gov.au/

Hope this helps.

Cheers
Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

August 17, 2006 - 10:27 am

Hi

I would be interested definately.

[email protected]

cheers

Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

July 30, 2006 - 6:12 am

I find that if a house is for sale and his has the possibility of being subdivided, the real estate agent tends to use this as a selling point.

You should ask the agent (though never take that as gospel, always check with local authorities!), as they usually bump the price up of properties that have re-development potential, so they will most likely be aware if subdivision is possible or not.

i think you might be confusing yourself with the first question too… i feel confused just reading it!

but i know what you mean… perhaps try lookin at sales and the time it took for properties to be sold etc ? this might give you an idea of demand. Also, check websites of developers who are releasing land in the area. They always tend to have media releases and progress updates on how their most recent stage release went. I do this here in perth, and in the big growth areas most new land releases sell out the morning the stage is released!

try not to confuse yourself too much and good luck!

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

July 27, 2006 - 2:02 pm

CORRECTION

provisional sums might not be finalised at time of contracts as they are not yet quantifiable, but the builder needs to give reasonable proof if PC or PS items come in higher than originally noted in the contracts.

im not saying that the builder is necessarily wrong, as most times they are not – many hours are spent ensuring that they are in the right or legally protected! also, many of the documents you may have signed protect the builder as much as they protect the client!

the most important thing is to go back over your contracts and simply crunch the numbers.

hopefully you can work this one out!

cheers
Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

July 27, 2006 - 1:49 pm

I didnt say that it was necessarily the builders fault. Quite often the builder will have a reason which states exactly why its the clients fault for the price increase. they have to give a reasonable explanation though.

provisional sums have to finalised in the final contracts, and by law have to be within 10% of the actual cost of the work.

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

July 26, 2006 - 2:17 pm

Registered builders that use their ticket/registration for a building company as an employee can earn around 150k pa..or even more. Having said this..they do have a heap of responsibility and put in endless hours.. but they pay is excellent.

To start out on your own means a massive outlay of capital..very high risk.. higher stress!

You also need huge assets in order to get a high level of indemnity insurance..which pretty much governs the amount of homes you can build per year…which in turn governs how much you earn!

Many building companies start with a solid financial backing etc.

cheers
Lyndon

[lyndon_gMember@lyndon_gJoin Date: 2006Post Count: 58]

July 26, 2006 - 1:56 pm

Hi goodbyekitty,

you have signed a contract with the builder, and they have to hold that price. they can only price rise you if
a) you do not get all approvals in the beginning stages before your contracted 45 working days is up – NOT YOU IN THIS CASE

b) you did not pay your final progress payment, hence allowing the builder to charge a percentage of the over all contract price for every day late you are on your payment.

c) the only other one i can think of is that you might not have factored some pre-start variations into your finance, and the builder is actually still owed money by you.

check your contract price..and add up all the progress payments and see if they match up! sometimes pre-start variations are not factored into your final loan approval..and you are expected to pay cash for these.

the builder will give you a reason for the demand of extra cash..they have to… if not go to the BRB (builders registration board) or HIA.

Regards

Lyndon