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Blue board is a very common material particuarly for upper storey and infill applications as it is light weight (compared to brick work). Blue board is a 7.5mm thick cement sheet product with a blue water resistant coating (hence the name) and is generally used as a base to render over. If done correctly it can be quite reliable and durable. Unfortuantley more often then not Blue board is not installed/rendered correctly and consequently cracks (along joins etc) leading to weatherproofing issues etc. I my self would be very cautious looking at a two storey property clad entirly in blue board. As I said if it has been done correctly you shouldnt have much to worry about. Things to look at would be expansion/construction joints, these need to be every 6m and look like a joint in the sheet that has been 'caulked' with a fleixible sealant. The sheets should be installed vertically, not horizontally. What type of render has been used on the walls? A acrylic/polymer flexible type render should be used rather than a cement based render (cement based renders dont move with the blue board and tend to crack). Hope this is helpful.
Cheers,
Paul
How long is a piece of string? Basic units anywhere from 10K per building square plus development costs. Have built a development of three units for 500K plus land etc. Hope that helps you.
Im assuming your in Melbourne? If so try Chris Brown from Financial Design for Life for your financial planning. And if you want some further help with finance try Chelsea Bouma from Momentum Homeloans on 0438042058, her service is fantastic. Maybe checkout the claimable intrest thing with your account. Cheers
Hi there! Sounds like an interesting deal. Borrowing 100% you may have problems if lenders consider this to be a
'serviced' apartment, outlined below. (If this is the case you may only be able to borrow 60-80%.)
These properties are usually residential strata title and are always accompanied by complex operating
leases which dictate the terms of the relationship between manager and room/unit owner, and
conditions under which the property is to be occupied (i.e. as short term, hotel like accommodation
and prohibits long term occupancy by owner /tenant.)
Lease agreements tend to run for 5 to 10 year terms with considerable restrictions placed on any exit
from the agreement by either the property manager or the apartment owner. These properties also
carry strict local planning restrictions, which prevent the property from being operated as a traditional
residence restricting use to short-term accommodation only.
Cheers
Chelsea Bouma
Momentum Home Loans
M 0438042058Wow, your certainly on the right track with your passion and keen interest at a young age. Gr8 to see. When talking strategy i would reconmend getting your self a good accountant and mortgage broker to become part of your 'team'. Small hint, try to find acc/broker's who are property investors themselves. If you need a good broker let me know! Cheers
Enjoy your courage, go for it!
I know how you guys feel, sounds like me 2 yrs ago! For starters you might like to think about some property goals, as in why am i investing in property – how far do i want go with property etc. Once your in you'll be hooked like the rest of us. One hint tho, i have brought and/or built on the sunshine coast and found it does tie up a lot of your borrowing capacity (due to higher prices etc), so like your already doing maybe look further north, most lager regional centres b/w gympie & cairns is doing pretty well. But make sure you do your home work. Research local markets and if your not sure about rental demand, check on line or touch base with some local agents. One other thing tho – make sure you get a great 'team' of pro's around you, eg mortgage broker, accountant etc, chelsea from Momentum Home Loans has been great for me 0438042058 anytime. Happy investing. (hope i havent overwhelmed you with info here!)
Enjoy your courage! Go for it!
Depends what market you are in or aiming at, think about your market and who will bebuying such a property? Are you renovating units or houses? 1 or 2 bathroom dwellings? If only 1 bathroom I would tend not to install a spa, particuarly if its at the expense of a conventional type shower. Just a few things to consider. Happy renovating,
Cheers,
Paul
