Matt

I saw that web site but I haven’t used them. Their site is http://www.webuyhouses.com.au/

They promote a fast sale, whether the buyer is themselves or as an agent for a buyer.

I suppose you put your house on the market for a while then see them. If they made an offer you didn’t like I’m sure you could just turn it down.

As for…[Read more]

Q: Has anyone bought their IP’s at a distance, another state, whatever, without having to do anything to the IP on or after settlement.
A: no mine is local.

Q: Who do you rely on to give you reliable info about the state of repairs etc, the finer details of the place & future potential.

A: Get your solicitor to…[Read more]

We moved in 2 weeks ago and it is great! Lovely view of the river on our doorstep (except for the stench…[Read more]

Why are you going to move the front QLDr to the back and put a movable one in the front? Couldn’t you just put the moved one out back and save the cost of moving the both?

Also if you do build new, does the neighbourhood have any/many newer homes in it. A new home in an older home area might look out of place….best house in…[Read more]

I applaud you big goals. The only way to make it big is to plan big. You obviously plan your work and work your plan.

How Rich do I want to become?
next 5 years – 5 pos IP’s average buy $200000, $100000 trading & med term shares, start & finish brand new reno (cost $317000…[Read more]

I spend on little toy cars for the “kids”, beer, wife and kids. and various other things that are too many to mention!!!!!![freak]

[drummer]

Matt

If you are going to rent it out, what is the market like for these sort of homes? What do the PM’s say about its rentability & rental price?

[]

Matt

It didn’t matter in the past because it never traded – it didn’t exist and you didn’t play by those rules.

If you have it drawn up and don’t sign and you if for years you can still sign it and activate it.

It buys things…[Read more]

[medieval]

Matt

The FHOG was intended to help people buy their own home. If you can substanciate that you lived there, bed/matteres, personal stuff and mail why would they question? [strum] Or is there a secret FHOG police…[Read more]

If they want your business they should earn it. While you…[Read more]

But talk to your solcitor first.

Matt

Matt

It certainly wasn’t easy – I learnt from making mistakes!!

I will never plaster again (my wife plastered and she will never do it again)…too precise and I can always see the defects.

We waterproofed and tiled. Word of warning though..as of last month (not sure if its a council regulation or only QLD) if you do a reno you must…[Read more]

We hired a carpenter to work for cash at first. We had a major deadline and I got to pick his brain and learnt HEAPS.

My Dad is a plumber and this saved us $000’s and I got to learn from him. My mate nextdorr is the sparky and I don’t touch that and for tiling we picked the brain of a couple of tile guys, got the right tools and had…[Read more]

I saw a few programs at Hervey Normans that might be good. It looks like you design your own top to bottom and can see it all – that sort of thing. They look USA so it might not be relevant.

[computer]

Matt

Firstly Steve; like the newsletters keep them coming, love the site – great ideas, great people[cowboy2] and I can’t wait to read the new book!!

While the renos would be easiler to do if there no tennants, my accountant says that its more tax effective if the work is done with them there.

What do you think?
Maybe reduce their rent for a…[Read more]

I do feel better thanks you Scottyb. I’m not that stressed…my wife is. I must say I haven’t been near the red but the amber has caught my eye, er, tongue.

Yack, my friendly REA is putting together our case for us. The valuer said she could build for cheaper. But she has to buy the land first. And I did…[Read more]

[hmmm]

Matt

are the sites comparing apples with apples?

Maybe one is looking at he town and one at the district or postcode … or something like that. Do they show specific populations?

[saywhat]

Matt

“If you can believe it, you can achieve it” I’ve heard this before but not sure who said it….but it makes sense to me.

Matt

some others that I like (not all investing books)

How To Be Rich & Happy – Hans Jakobi
The Green Bench – Matt Rawlings
Cash Flow Quadrant – Robert Kiyosaki
The Instant Millionaire – Matt Fisher
Wisdom of the Ages – Jim Stovall
Gung Ho – Sheldon Bowles & Ken Blanchard
Take 5 – “…[Read more]

Good point Marney, a mate at work was talking about doing the same thing and I questioned the same as you.

I suppose if the market is running hot then you can make some $$ but at the moment when…[Read more]

I have mentioned this on another topic but our Landlord Insurer is Hollard Insurance 1300360190.

I copied the following from their website about the product. [grad]

Our Landlords Cover policy offers cover for loss due to fire, flood and other similar perils, including theft and malicious damage caused by your tenants, plus we will…[Read more]

If all the buyer does is reduce the price by the commission amount and negotiate a bit we would be very happy with that. As it is, things are a bit slow and we set the sale price not the REA.

We are in QLD and to my knowledge there is no regulations like VIC.
I have offered “low ball” deals in the past where the…[Read more]

We use Hollard Insurance. Our Landlord poilcy covers all sorts of malicious damage, loss of rent and building insurance.

ph 1300360190
http://www.hollard.com.au

hope this helps

[medieval]

Matt

don’t worry of your loved ones they aren’t going in the same direction as you are. I wouldn’t even mention anything else to them about property investing as you will probably get more of the same and you don’t need to hear it.

As for a mentor….well… thats not me but there is a wealth of knowledge and experience here on this…[Read more]

We signed in our own names and included a nominee.
We had a change of plan. My Dad said he would like ot buy it so we rang the solictor and REA to say we were going to exercise the nominee clause and nominated my Dad. The solicitor sent us a form to sign to say what we were doing…[Read more]

we always check on the cost of local builders to replace the house. At the moment builders in our area are charging around $1000 per sqm for the finished product. We estimate this plus maybe $10000 to demolish the remaining structure.

This should be enough… don’t know never burnt one down…..where’s some wood.
[fire]

Matt

If you don’t get the answer, a quick phone call to a local REA should answer your question.

[bandana]

Matt

To retire is to get out of the “rut”. That is, going from home to work, work to home, get to bed early so you can sleep, hit snooze 3 times, get up to go to work.

If your “work” in retirement means that you decide what you do…[Read more]

I’m shhoting for 30 too.
I’d better get moving.[whip]

[pimp]

Matt

[medieval]

Matt

How much of a reno does it need? I assume being built in the 1900’s it would be fairly major restoration.

Is it heratige listed or have any other limits?
You might want to get someone experienced in this type of building. Do the building inspection with him so you can ask heaps of questions and find out more than you would…[Read more]

secretgnome, that is a different way of profiting from th reno. I suppose you are banking that the bank will value you house at what you would get for the sale.

Our theory is that after costs everything else pays for your labour. And yes tradesman will each up much of your profits. We did everthing…building, plumbing, tiling,…[Read more]

I am in exactly the same boat and I second the previous posts.

Matt

I always assumed that the bank would want the whole contract, signatures & all.

Matt

Even when we’ve spoken to a broker and he say “yep no worries, they’ll approve you”, we still need a contract to take to them for them to approve.

[saywhat]

Matt

If common do they all pay for the up keep through a sinking fundetc or is this cost borne by the owner?

Matt

ask the REA for advertising stuff for the property. The should have a folder or something with current leases etc and outline any zonings and the like… at least the last few commercial we looked at did.

I can answer some of these Q’s for you;
1. tennant should pay these.
2. tennant
3. not sure
4. I read on this forum somewhere…[Read more]

The 2 weeks or so that you have to perform building and pest inspections and you finance date should give you enough time to do your due dilligence and if needed you can then get out via these. Others don’t even sign a contract until they have done a due diligence.

[grin]

Matt

Also when looking to buy we look at the list price, research etc and offer a price that leaves our top limit the middle ground between our offer and the list price. (seems like double dutch)

eg house listed @ $200000. We…[Read more]

[medieval]

Matt

we just finished a reno – did it ourselves. We spent just under $40000 and added about $145000 (selling at the moment)

I’d say if I got tradesman I would have to come close to doubling what I spent.

The bonus would be that the tradesman would have had it done about a year ealier.

Matt

I look at retirement as when you can decide to get “quit work” or the rut of it, and be paid for doing things you like to do, when you want to do them. Like investing, business…[Read more]

I do 7am -7pm for 2 days then
7pm – 7am for 2 nights then have 4 days off.
If I try I can get 2hrs of solid reading in the crib room per day.[blush2]

If you can sleep throught the day your laughin.

Days off are for renovating, looking for IP’s & playing with the kids.

Used to be in retail management…50-60 hrs…[Read more]

$60000 in todays money.
age……30….or 40 (it can be done!!)

Is anyone keen on the Gov’s idea of encouraging 70 year olds to stay at work and get jobs serving at Macca’s [op] drive thru’s??

[mad]

Matt

Kay, spekaing of logos on cars, I saw a business program where an ad company organised for your car to be…[Read more]

For our first house we used a combination of the first home owners grant, refunds at tax time, $15000 personal loan and $4000…[Read more]