[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

May 14, 2014 - 10:45 pm

You’ve lost me on that one Richard, what do you mean by coded/uncoded security?

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

May 2, 2014 - 7:35 pm

I say he is having you on. You have no relationship between you and the builder who had the plans prepared. If the builder is to sue anyone for non-payment it would have been the previous owner/developer who commissioned the design – more fool him for releasing the plans prior to payment (without a massive ‘DRAFT – NOT FOR CONSTRUCTION’ watermark. The approval (& plans) travel with the title, you have paid the developer for the property, the plans and the approvals gained – in doing so, you paid the developer’s premium for their work in achieving the consent.

If you were to use these on another site without the designers consent, then the designer could sue for breach of copyright.

• This reply was modified 9 years, 12 months ago by  Scott No Mates.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

April 6, 2014 - 12:35 pm

Redwood wrote:

Cons – 

Safety – My house was a double story – I can tell you I did not use scaffolding, just a ladder an paint can

Painters are one of the few trades who can work off a ladder at heights.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

April 6, 2014 - 9:10 am

As Terry points out, you will  have several issues to address. Licensing – you may need a trades licence but maybe not if you are offering handyman services. If you have a separate entity to handle maintenance,will the ATO see this as sham contracting as you will be gaining 100% of your income from one entity?

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

April 6, 2014 - 9:04 am

7 years of near continuous tenancy, maybe it is time to freshen up the paintwork, replace carpet or do whatever maintenance you haven't done for the last 7 years.

What is your current due diligence telling you? What is the market rate?  What does the agent suggest? How many units do they currently have vacant (on their saturday list)? How long have these been vacant? What are they doing to get it leased?

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

April 1, 2014 - 12:15 pm

I would recommend getting a fencer in to replace your missing post.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 31, 2014 - 10:50 am

US: dyslexic – coke-bros / dealer

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 30, 2014 - 3:36 am

Convert the existing deck into a bedroom/sleepout etc as it won't be too many years before the trees block out the views. Add the new deck – this has better views and the trees are a lot lower.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 28, 2014 - 8:57 am

Put it out there with the agent to negotiate the lease term – ie you don;t want the expiry to hit the Christmas period so you want to offer more than 6 months but less than 12 months.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 26, 2014 - 12:48 pm

Great outcome for the persistence. It was your money afterall.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 23, 2014 - 11:48 am

Stormwater diagrams do not get registered on title or shown on Sydney Water plans unless there is an easement associated with the drain eg: it comes from the property behind.

You may need to make further enquiries to ascertain if there are any drainage issues.

Sydney Water's plans will show sewer & water only.

DBYD will give you the location of all services (footpath/road) except for stormwater.

You may need to visit council to determine whether there are unregistered stormwater usages on the property – need to review development plans for adjoining blocks to determine if they have installed a drain or whether it is only internal stormwater from the property.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 16, 2014 - 8:36 am

He did say cost price…

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 13, 2014 - 10:38 am

Dim tenants?

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 12, 2014 - 11:45 am

Qlds007 wrote:

What is the Gross Annual Rent.

Com Properties are valued based on their rent return.

Does the Tenant cover all of the out goings ?

CIP are valued on a basis of net income/yield (gross can be anything within reason).

Cap rate is not the only methodology used for commercial property however a back up method should also be used eg residual land value/comparables etc.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 7, 2014 - 1:06 pm

I am no expert in the field of super however there are plenty of opinions out there regarding how much should be the minimum investment required for an SMSF. That amount should also change if you were to have a large exposure to property – typical situation of all your eggs in one basket. 

You will also have some restrictions as to how much you could borrow as an smsf ie around 70% (max property value will be less than $400k including costs), there may be a restricted range of lenders as well.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 5, 2014 - 11:55 am

• The zoning has changed to mixed use – subject to council (and body corporate) approvals, then you may be able to use the unit for a commercial purpose (you may have to lose the bathtub, kitchen, laundry as they are of little utility in an office/retail environment)
• Can you take maximum advantage of the rezoning (in isolation) – no, strata laws require that all owners agree to sell to a developer (in most states)
• Do you have a right to sunlight – not in a commercial zoning

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 5, 2014 - 11:41 am

The sale of residential property or average development sites by tender is unusual as buyers do not understand (or need to understand or care) what you are trying to achieve. Many agents would not advise you to sell this way either (as it is a misunderstood method).

If you have a high value site, then tender or EOI may be considered.

You will be up for more costs as you will be prepared to create a tender document (outlining how you are going to assess the tender – eg: only price, non-conforming tenders, what terms and conditions you are including eg – delayed settlement/leaseback/DA etc).

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

March 2, 2014 - 8:43 am

• High risk esp if you forget to exercise your option
• The contract will need to allow for early access
• Commencement of works may trigger the option
• You would be better off having the option, securing the DA then flipping the option/block.

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

February 23, 2014 - 10:46 am

Sorry but it is out of your price range @ $50k for 40 acres 2 1/2 hrs south of Sydney – Dalton

or at $40K Stockinbingal for over 1 ha

again, @ $50k 8 acres near Wagga

Looks like you're out of luck

[Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856]

February 20, 2014 - 8:58 am

The purpose of the money that you drew from your loan has been used for investment purposes. This is generally deductible however is messy as you have to keep track of the amount borrowed on redraw and to apportion your repayments between the IP loan and the PPOR loan. This will become cleaner once the PPOR becomes an IP.