Hi forum members, we are selling our land that we have held for 7 years because it did not perform as we thought it should have done by now .My question is are we able to claim back all our losses of bank expenses ( interest ,set up costs,yearly mortgage fees ) council rates / water rates, solicitor fees etc, this was set up on an interest only…[Read more]
So true , it comes down to supply and demand , oh and a bit of waiting , or some cosmetic work to enhance the end price ! They ain't making anymore land – it's already there , just use it to maximise the best result .
Hi Miccalady , it may take time but word of mouth to Create a good tradie team works very well 1 good tradesman can connect you his contacts , and a stash of cash helps to float a project and keep you on the Reno instead of doing the job to maintain the project , good luck .
Hi Tom even just doing basic labour work you can save big dollars yourself , I myself jump right in like catalyst ,( but I do have the lic and exp to do it ) some things you are better paying the tradie and going to work , then you get a good quick job done right , nothing worse than having to redo work – yuck ! Good luck
I agree with Josh , property deals can be done using very little money within a specified timeframe using an option ,but as a novice trying to enter this agreement you could come unstuck because of not knowing how this process works .Read more books on the subject and if still keen I suggest you find a mentor / coach to walk you through this…[Read more]
Hi Noel ,yes I do specialise in renos (hence my reno101 name ) I buy Reno and flip them , but I never just jump in , every Reno I do my numbers before I purchase them , it's about maximum profit ,what regional area are you looking at to doing a Reno ? , shot me an email , [email protected] , Greg
Hi Noel take into account it would be a slow start at first because you have to obtain your own listings which gives you sales, if you have got commitments towards your investments I would be very weary about stepping out to a new venture if you need that cash flow each week , I also have been told I would do really well in real estate sales , but…[Read more]
Hi NBARN, welcome to the forum ,a few things to consider , as a novice entering into becoming an agent , most agents are paid on commission only ,and others on a small wage with a bonus attached .Seasoned agents have a big list of clients and find it easy to draw in the buyers on new listings they acquire ,and after a few years they get known…[Read more]
Reno101 replied to the topic BEST STYLE ELECTRIC COOK TOP FOR RENTAL – COIL, SOLID ELEMENT, OR CERAMIC GLASS??? in the forum General Property 10 years, 6 months ago
Hi Mistro , I would go the ceramic glass top also , coils break and more to maintain in the long run , hope this helps ,Greg
Reno101 replied to the topic Investment Properties in QLD through Put and Call Option in the forum Creative Investing 10 years, 6 months ago
Well done DCT , and yes agree the stamp duty is paid by the end buyer because you hold the option and are selling the deal to another party , and a caveat also covers yourself during the process, I did an option on a property which involved doing a renovation and organised the sale to the end buyer ,I was the option holder with a caveat in place…[Read more]
Reno101 replied to the topic Any thoughts about investing in Chinchilla or Miles? in the forum Help Needed! 10 years, 6 months ago
Hi Mandy , I have worked in the area from Miles to Gladstone in the CSG industry ,and the workforce is seasonal as the projects are constantly on the move , so workers are always on the move , that would make it a big risk trying to lock in tenants .Currently a 1000 man camp is being built in miles to house workers for future projects another…[Read more]
Reno101 replied to the topic Buying our first property but unsatisfactory building inspection. Please Help ! in the forum Help Needed! 10 years, 6 months ago
Hi , it sounds like your looking for a home to live in ,there will be a lot of work involved in redoing the repairs to make it right , the question is do you want to spend the money time and effort to repair it , if not, walk away , a lot of people cannot live in a house while doing major renovations , hope this helps – from a seasoned…[Read more]
Reno101 replied to the topic Body corporate insurance – what covers do you need in the forum General Property 10 years, 7 months ago
Oh and ps $20,000,000 is plenty , office bearers never had to do it .
Reno101 replied to the topic Body corporate insurance – what covers do you need in the forum Hi Johk,we have had a few 10 years, 7 months ago
Hi Johk,we have had a few duplexes over the years ,public liability and fire is all we went halves with the neighbour ,and with no body corp or manager to dictate their rules ,we just met once a year to discuss any issues . We also have had a few units with body corp over the years , we have sold them now because it was always about doing a…[Read more]
Hi Mentee,the comments above have good merit ,I have done your renovation proposal on my own property 6 years ago ,but I did it for a pure profit renovation and resell project .It was a 2 bed x2 bath duplex with the room in the large lounge room to build in a 3rd bedroom at the end of it and it was 3.5 x4.0 metres which is a bedroom size , we…[Read more]
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