Since 2001 | Total Members: 161,349

Scott No Mates

  • Scott No Mates replied to the topic units or landed property in the forum You might come a little 15 years, 7 months ago

    You might come a little closer in price if you look to areas like Green Valley (near Hoxton Park)

  • Scott No Mates replied to the topic Settlement possibly delayed because of tenants in the forum Legal & Accounting 15 years, 7 months ago

    You will need to instruct your solicitor to issue a notice to complete however this cannot be done until 14 days after the due date of settlement.

  • Scott No Mates replied to the topic rental income during 6wk setlement period in the forum Legal & Accounting 15 years, 7 months ago

    Jaffasoft wrote:
    Hi,      If there is a License to Occupy can the property be then rented by the purchaser similar to the above circumstances but i seek a tenant to put in the property. This is Victoria?

    this would be totally dependent upon what is in the occupancy licence – in most instances the occupant will have restrictions with resp…[Read more]

  • Scott No Mates replied to the topic Is this a good investment in the forum Commercial Property 15 years, 7 months ago

    Is the rent net or gross? Is GST incl/excl?Strata shops are always a concern as there is usually no strong central management over the centre thus planning, tenancy mix etc are poorly implemented resulting in high vacancies, difficulty in financing etc.

  • Scott No Mates replied to the topic Recommendation’s on landlord/ property management software in the forum Help Needed! 15 years, 8 months ago

    Grasshopper, there are several packages out there so yes it can be confusing.Depending upon what you want to get out of it (& your own skill level), many people on the forums use an excel spreadsheet, who knows there may even be some available on the web if you google the right words.I have used propertypro & Posh both available from the popular…[Read more]

  • Scott No Mates replied to the topic Can I sell half my house for the equity in the forum Finance 15 years, 8 months ago

    How about, hmmm sell the house & buy 3-4 commercial units inside a trust, pay rent for somewhere you'd like to live (or sale with leaseback)?

  • Scott No Mates replied to the topic Financial Planners – Thrive, Survive or Die ? in the forum General Property 15 years, 8 months ago

    A couple of other changes that will also come through include: Accountants will no longer be able to set up smsf which they can do at the moment (they cannot give advice about what shares/assets to buy unless they are licensed to advise) and it does not look like that getting financial advice will be tax deductible, the last one will really hurt…[Read more]

  • Scott No Mates replied to the topic 2 story or single story for a 557sqm block in the forum Value Adding 15 years, 8 months ago

    What does the area dictate you do? That is, are the surrounding houses single or two storey when they have been extended?If the house is to be a rental proposition, is 3 bed/2 bth or 4 bed/2 bath going to have a better rental?

  • A valuation is a mix of both science (research of comparable sales) and some human nature. It must be scientific as it is based on the valuer's research which they must be able to prove when required in a court so that they must properly review each subject property and how it compares to the property which they are to value.The only thing left to…[Read more]

  • Before you start you will need to get your certificate of registration – pretty quick and painless as there are plenty of providers out there. As for pay structures it varies greatly depending upon where you come in – at the bottom, you will probably get a pretty pathetic base wage with maybe some incentive alternatively they may pay a training…[Read more]

  • Scott No Mates replied to the topic Tough New Laws on Foreign Owners in the forum General Property 15 years, 8 months ago

    The previous FI laws were much more restrictive however no-one raised even a whimper when these were changed. We did have a situation about 2 decades ago which led to a tightening of FI rules (I can't lay my hands on the old rules at present) but now they are an absolute joke.

  • Scott No Mates replied to the topic Commercial Property in the forum Commercial Property 15 years, 8 months ago

    Like any investment, location is a key factor in the amount of risk involved – capital cities/suburban industrial/business zones etc are givens. Unlike residential other factors come into play (like the economy/bank sentiment etc) however you will need to be more financially independent to support long-term vacancies ie lower gearing – just look…[Read more]

  • Scott No Mates replied to the topic How to buyout your neighbour’s block? in the forum Before approaching your 15 years, 8 months ago

    Before approaching your neighbour you should do a bit of research – firstly, find out what the LEP and council requirements are ie how much land you will require and what you will be able to put on the site (retail/commercial/mixed use), it will be a costly exercise if you buy up next door only to find out that you will need 2 or 3 more properties…[Read more]

  • Scott No Mates replied to the topic Energy efficient rental properties in the forum Value Adding 15 years, 8 months ago

    There are subsidies available (and it is cheaper to build them in at the original construction). Speak with a QS as to what additional depreciation benefits/tax incentives may be available.

  • Scott No Mates replied to the topic canceling offer in the forum Help Needed! 15 years, 8 months ago

    Simply fax in a retraction of the offer or drop it off to the agency today.

  • Scott No Mates replied to the topic Software? What do you use? in the forum Legal & Accounting 15 years, 8 months ago

    Seconded Keiko. There are sections for rent/other income, expenses, budgetting, mortgages, reports etc. And it comes with a 60 day free trial.

  • Speak with your accountant about buying it within a SMSF, provided you are still working enough to pass the employment testn (so your super is still in the accumulation phase there may be some benefits for you both).You will need to consider how you will fund the property, why without knowing your previous track record you would want exposure to a…[Read more]

  • Scott No Mates replied to the topic Stupidity test to become a banker ?? in the forum General Property 15 years, 8 months ago

    Remind them that he works for a bank, not DHA, he is not a financial advisor, just a loans officer, if they haven't disclosed their interest in flogging DHA property, what's in it for them (other than it would probably mean taking out a bigger loan),

  • Scott No Mates replied to the topic Extending into the garage or carport in the forum If you dig beside the slab, 15 years, 8 months ago

    If you dig beside the slab, you should come across the plastic – it wraps around the slab to stop ground moisture entering the building.A habitable room is defined in the BCA (it covers lounge room, bedrooms, dining/sun rooms, studies etc but non-habitable rooms are halls, bathrooms, kitchens, storerooms, garages and the like).

  • Scott No Mates replied to the topic Construction Loan – having problems with LVR in the forum Help Needed! 15 years, 8 months ago

    Banker wrote:
    … I cannot count how many people have asked me to lend say 100% of a project because it will be worth more on completion. There are not too many business transactions outside of property either that allow you to take your profits, or offer them as security before you've made / earned them…

    And some people think banks are…[Read more]

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Scott No Mates

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