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My biggest mistake list is way too big for here!!
But a fairly consistant one is not trusting my judgement and not INSISTING that when I DO know best to INSIST that those working with/for me must abide. This includes:
* Not insisting rents paid on time/ homes are cleaned up/ etc
* That tradies do WHAT I WANT, not what they want
* That strategies are implemented that I WANT, not what others (usually for their own hidden agenda) wantI have found that most of these problems have been (although sometimes too late for first time) resolved by sheer hard work, persistance and above all EDUCATING oneself!!
As a direct result of making way too many "mistakes", I have gone out and read, and read and read, and asked qu's, and gone to courses, asked more qu's, demanded answers, dabbled, made mistakes, continued learning…………………………..and I expect this cycle will never end.
Life is after all, a big lesson.
Cheers Elka!
Okay……so what if its a business zone, but it will be used for residential (units) development?
Then, if that's how banks view it, how come for a res 1 zone unit site I have been told I may get a commercial loan??
Then, how does insurers ascertain if one is working on a residential or commercial site? As I gather this will affect insurance alot?? And there may be other "interested parties" for a development that need a clear definition of is it a commercial or residential project!
Hmmmm…………. I do hear what you're saying…………I just think there must be another way builders are financing their own projects without it being classified as an "owner build", as the regs for OB is only ONE dwelling every three years! It just doesnt add up. I will pose this qu to the builders on "general" forum and see if any respond. But, thanks anyway!
Also………. then if banks view a builder building on their own land to sell for profit, but banks consider it owner building, then what does the ATO consider it as??
I am sure they would view it as "business" and tax it accordingly!I just dont get it, sorry.
This just doesnt sit right with me. I need more info pls.How can builders buy land developments, in their own company's name, and build multi dwellings then,
if banks will only consider it an owner build???
As an owner builder you can only build one dwelling per 3 years, and only then if it's "intention" is to use it as PPOR!
So there must be ways that builders get around this,
to get funding and can build more than 1 property in their business name every 3 years!Can someone pls give me a (few?) scenarios of how builders get around this then???
And yes, there is a track record, detailed analysis,biz plan,financials etc Scott, although I dont see how that will make an iota of difference if banks will only lend as an owner build.
Thanks guys.
thanks. problems sorted.
Laughed so much I nearly cried!…..
Okay, okay, yes I think I am eligible, as a non-tradie renovator, although I hope to leave this club one day and be qual'd…just so I can charge more for doing the same darstedly deeds!
Here's a few that I refuse to lay claim to, on the grounds I may incriminate myself….
1) Poking spak into the wood rot holes on old weatherboards and painting over rather than replace whole board…
2) Continued to make that accidental hole in the wall big enough to fit a small cupboard door into it , so that "YEs! Of course that was my idea…looks great doesnt it?!……."
3) Black texta painting on the white paint on the black dog……..so that the owner didnt notice……
But my favourite is what can be hidden and stuck together with glue,sticky and blue tak………
