Tumbarumba is too far from….1. decent snow, 2. Bunnings, 3. Macdonalds (Gundagai or Albury) So are you expecting renters to drive to Batlow to pick apples and earning $120 a day during February to April? Or maybe drive a little further on winter slippery potholed roads to the sawmill at Tumut? Maybe I missed the big employment generators eac…[Read more]
nordicskier replied to the topic What accounting software do you recommend??? (for managing say 3-8 properties) in the forum Help Needed! 11 years, 11 months ago
We use excel with a few pages and based on the tax office requirements forquick input to etax. ( over 15 properties with many having multiple rentals ie dual occupancy or 4 units)Each month we review bank statements received for the previous month against the property managers' reports to ensure rent payments and put the net payments into the…[Read more]
1. Check with Council zoning provsions. Check car parking requirements, separate driveways etc.2. Discuss with bank as they are using the property as security.3. Ask a reputable Building Surveyor about fire separation requirements under the Building Code of Australia. Also consider separate water meters, additional garbage bin, additional mail b…[Read more]
C and holding on well. Good time to increase rents without compromising vacancies because the tenants are now more aware of the mortgage rate rises and less likely to leave…if there is anywhere else to go to. We have 100% occupancy except for 3 weeks changeover on two IPs.
SMH today page 7 "Interest rate cuts are on the cards at last" by Jessica Irvine – quotes Macquarie Bank boss Rory Robertson stating that "An RBA cut in September now is given. The only question is whether it's 25 basis points or 50 basis points" And he alledgely stated that he expected rates to fall by between 1 and 1.5 per cent in the coming…[Read more]
The issue of living in a shed is a Council planning issue. Sheds are not intended for habitation pursuant to the Building Code of Australia. Using the shed for habitation is a change of use which must be approved by the local council pursuant to the State planning legislation and local planning provisions. The initial approval of the shed, if…[Read more]
One way of looking at this decision is the development of 90,000 outer urban land lots will eventually increase the demand for inner and middle ring properties. However it will lower the value of properties already in the far outer suburbs as deamnd is met or even oversupplied.I severely doubt whether the Vic govt and the state has anywhere near…[Read more]
Make friendly contact with the Council planner – they can be friendly if you use the right approach. (I am a municipal development control planner)Also a Tasmanian mapping system at http://www.thelist.tas.gov.au/listmap/listmapstart.jsp is invaluable. It has helped us in making a site plan for discussions with public authories.
I definitely agree with starting small <$200k but it is hard if you are located in the capital cities. I guess I would look just outside my capital city and do the ongoing analysis of opportune properties.
I'd love to run a property investing course through TAFE having 15+ IPs. I enjoy teaching people (ex instructor) and have a wider then normal field of expertise and knowledge that can make a difference (ie LOA, Council requirements, Admin for IP). However, I am currently employed and enjoy the job. I would be happy to run a course through TA…[Read more]
Whilst not in Perth, I would recommend asking the relevant Council’s Town Planner what companies they regular see in subdivision applications. Then you know you are dealing with a local surveyor who knows the relevant Council rules.
Make offers that are cash flow neutral. There might be a desparate owner in amongst all those properties. Remember, if you can show the colour of the gold, someone will go the grab and the agents will start working for you and not the vendor. They are just after a sale, price reductions, I reckon, have little effect on their payment. But what…[Read more]
Definitely depends on what type of easement. If sewer, it may need to be replaced with the high quality sewer pipe and the easements designed so as not to impart any load upon the pipe. Consider how will the service be replaced when required?
I agree with Wake in regards to the strata subdivision. You may need to consider some visitor car parking spaces in the common property. Two should be enough, but your Council will have its own car parking space by land use provision requirements.
Also consider the practical access issues such as car manouevring on the common property and the…[Read more]
Question for nordicskier:
“So what if you successfully got it for say $115K, divide by 2 (58) and multiply by 3 (168) so it will cost $168 per week in mortgage payments and a bit towards rates etc. So you increase the rent to $170 and see what happens or purchase for $100k ( /2 then X 3 = 150) that would be cash flow positive.”
What about some pro-active planning?
I reckon two things equal property investing.
1. Find money – use brokers – start making a list of brokers
– make up your financial sheet ie assets, salaries, debts etc.
2. Find a propertty – use real estate agents – make list of agents and their emails & phone numbers
So what property do you want? Cashflow…[Read more]
Not all Councils require a building design prior to subdivision, some just require what the intention is ie residential. So it depends on where you are subdividing.
I would check where the services are connecting and the easements. Then the town planning street setbacks, these can severely restrict development on a corner site.
Don’t get hung up with the figures too much. Just offer 20-30% below advertised price and see if any fish bite. And just get into it.
Rember once you’re in it doesn’t matter what the market is doing – if it drops you’ve got opportunities, cashflow positives emerge, yippe, if the amrket goes up then revalue and grab the equity for some more…[Read more]
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