Forum Replies Created
Hi again,
Bruce, I rang Brisbane office for you with regards to the story, they said that they don’t have chat transcripts for every story at their home site. If you want to call them to get all the info here’s their phone number
Brisbane:
G.P.O. Box 72
Brisbane QLD 4001
Ph: (07) 3214 9890I can’t tell you the name of the builder here, but if you want to know more let me know. Basically she put down a 85K deposit on a off the plan unit on the Gold Coast and the builders didn’t tell her that her view would be obstructed by a fire wall they were building.
Cheers
Soosh [
]It’s all our imperfections that make us perfect!
Hi all,
Just some more links directly to stories of interest courtesy of ninemsn.com.au
Here is one link to another piece done on property scams
http://aca.ninemsn.com.au/stories/982.asp
Here’s some other direct links for avoiding property misfortunes:
http://aca.ninemsn.com.au/factsheets/983.asp
http://aca.ninemsn.com.au/stories/1003.asp
Another website which may be of interest to those purchasing wrap houses but are unsure who to contact to do pre-purchase inspections here’s a link to archicentre.
I’ve only had one indirect experience with them, so I can’t tell you how good they are, but remember doing your due dilegence will save you money in the long run.
Cheers
Soosh [
]It’s all our imperfections that make us perfect!
Hi Bruce,
Here is one link to another piece done on property scams
http://aca.ninemsn.com.au/stories/982.asp
Here’s some other direct links for avoiding property misfortunes:
http://aca.ninemsn.com.au/factsheets/983.asp
http://aca.ninemsn.com.au/stories/1003.asp
All links courtesy of ninemsn.com.au
Bruce, I’m really sorry but they haven’t posted the story and I’m not sure why. [
]I’ll see what I can do to fix this, no promises though!
Regards
Soosh
It’s all our imperfections that make us perfect!
Hi all,
Just a quick note tonight. Mike de hubby just read the postings and told me ..”that you might wanna correct the spelling mistakes”. [
] So, instead of editing all my mistakes which would take till 2morrow I humbly beg that you ignore the grammar and take the ‘meat off the bone’. PI gang, if you will kindly add a spell check at some stage that would be great too [] Pretty please ???We heard from the bank…still negotiating…but looking brighter!
I’ll keep you all up to date. Thanks Bruce for the encouragement []Cheers and have a great and productive week
Sooshie
It’s all our imperfections that make us perfect!
Hi All [
]Just an update! On Friday, I went around to 2 local realators and asked them to come and value our house, not with the intention of selling but for investment purposes, increasing line of credit, etc etc. They all came and valued the house between a minimum of $380-$400k and up to $420+, they then wrote a report including a list of recently sold houses in the local area (about 5 house reports for each agent)for above the price the bank valued our house for (which wasn’t hard!). With this information my husband bypassed a pencil-pusher to speak to the manager of the bank, faxed him the results plus a PLEASE EXPLAIN !!! We realise after doing the calculations and coming in just under a qualifying amount, that the reason the bank undervalued our house was because if they give us the true value amount we then come under a professional package with a .25% reduction on standard variable rate rather than .1% reduction. Of course it’s in the banks best interest to give us the lower reduction and begrudgingly doing it with a $1K caveat if we want to get out of the deal.
Anyway, we hear back on Monday from the bank. If we have to refinance (which we are considering) we will have to delay settlement on our wrap property, which is supposed to settle this week! At $34 dollars penalty per day over settlement date…this is very costly. So I have learnt many a thing. I’m sure I’ll miss something out.* Get your structure in place prior to doing anthing (for those of you who went to the seminar remember what Paul Harper said !!!)
* Take control over your own affairs, not leave it entirely to brokers, banks, real estate agents etc.
* Remember the food chain (remember Steve’s laws)
* Time, try to err on the side of caution
There’s more but I’m too tired to continue (Simon’s teething)
We also learnt that a broker needs to work for the commission he earns (which for all of you who may not know is ~ 0.6%, with a trailing commission of 0.1% for the life of the loan. Unfortunately when things turned sour our broker blamed the bank, he gave my hubby the To-Do-List and said call me if you need me. I told my husband who was jumping around like a chook without a head, that it was our broker’s job to negotiate on our behalf with the bank, not his (by now he was a bundle of nerves and stressed to the max) and that the broker had to earn his commission and we just agree to the terms and sign the papers if we were happy. Too late now, but we know for next time and if we do have to refinance it won’t be throught him. Nice guy, but obviously lost his MOJO …
Thank you for all your postings and leading us in the right direction.
Cheers [
]Sooshie
It’s all our imperfections that make us perfect!
Hi all!
Another link for you courtesy of LanceH (thank you!) regarding software packages for sale. Disclaimer here, the same as with most listings etc ..remember to do your homework..‘all that glitters is not gold’..find it at this web site;
http://www.leiton.com.au/trackit/index.html
For more info on this, read Lance’s posting under “Property Software Packages”
in forum section.Another link is to http://i7.aol.com.au/ , as last night Monday 16/9/02 ‘Today Tonight’ had a story on Rick Otton, which reflected the positive side to wrapping. Good publicity is a bonus to all of us [
] Thanks DB for emailing me the details []Cheers
Sooshie [
]It’s all our imperfections that make us perfect!
Edited by – [email protected] on 17/09/2002 9:49:49 PM
Hi all,
Thank you Michael for your contribution [
] I hope this posting is helping everyone.Cheers
Sooshie
It’s all our imperfections that make us perfect!
Thank you Watto
It’s great to see you getting into the spirit [
] I’m very pleased. It makes it soooo much easier when everyone helps out the newbies (like me).Cheers
Soosh
It’s all our imperfections that make us perfect!
Hi all
Thank you for your replies…You have given me food for thought and I am now chasing up the leads… I know for a fact that he’s undervalued our house…but the work ahead is to prove it…
Have a great weekend…
Super sleuth
Sooshie [
]It’s all our imperfections that make us perfect!
Thanks AD!
Your feedback is very much appreciated [
] It’s true there is not enough hours in the day to do everything one desires. I hope I’ve made it easier for all, by making some links easier to get to. I encourage others to post links here, not just myself (nudge, nudge [] []) ! I guess some people are just shy [] or just behind the [8] with work. It’s all cool [8D] !Good luck with finding the time to surf..
Cheers
Sooshie [
]It’s all our imperfections that make us perfect!
Yep it’s me again [
]Thank you Dennis for your link on ‘The Renovation Kings’ , I have transposed it here for easy access.
http://www.financialsuccesssystems.com
Cheers
Sooshie
It’s all our imperfections that make us perfect!
Hi all,
Some more useful links, http://www.bhg.com.au and also this week if you visit http://www.ninemsn.com.au and go into ACA files you will see a list of Boom and Bargain surburbs, state by state (for those of you who are interested). The Better Homes and Gardens site has links to trades and DIY renovating ideas, which may be helpful to some of you out there.
Good surfing,
Soosh [
]It’s all our imperfections that make us perfect!
Ooops! I meant weak spot [
]!A very very embarrased Sooshie
It’s all our imperfections that make us perfect!
Hi ‘THE Bruce’ [
]I’m not sure how much to build a unit on this land as it isn’t my area of expertise, however the area is commanding approx $320K for brand new units in that area (that being the minimum end of the spectrum) as I mentioned the area is very close to Sthland Shoppingtown, Bus stops, Nepean Hwy etc. A refurbished flat with 2 br was offered (more like pushed) by a developer for $280K right opposite Sthland in Karen St. I don’t like refurbished places, personal choice.
As for rent in the area, finding good tenants is difficult at this stage (refer to link http://www.personalinvestor.com.au about landlords) or see ‘useful link’ posting. Determining rent is difficult, however between $170-300 pwk is not unreasonable due to position etc.
The property can be seen at http://www.raywhite.com.au the address for the property is 6 Centre Dandenong Rd Cheltenham. Land of 809m2
Keeping the house and restoring it would be costly yet the results would be magnificent as the bedrooms are large, with ornate cellings and cornices, large kitchen and laundry, moderate size bathroom and large living room. Would it be value for money? Not in this climate unless you did it up (refurbish ala Geoff and Paul’s way) and kept it till the next property boom (approx 4-7years time?).
If you kept the existing house as is, if you got a oppurtunistic (help I need a spell check [
]!) tenant, you would have phone calls every day asking to repair one thing or another. What a headache! Or you could rent it out as is, on agreement with the tenant on a reduced price and as Steve mentions, on the anniversary of renting for 1 year without arrears you could improve on something, increasing the value in the house, making the tenant happy and having potential to increase the rent. Everyone’s theoretically happy []!I’m only new to this site Bruce, but hope some of this makes some sense [
] This is all semantics now, as the property sold for $270K and can only be used as a test case. I will however follow the developments on this property and post them at this site as an example. Perhaps Steve can shed some light on this subject. It may even something the ‘Renovation Kings’ could bite their teeth into Have a great weekend
Sooshie (excuse my spelling mistakes..it’s my week spot)
It’s all our imperfections that make us perfect!
Hi there,
Just a quick note to say that the house and land in Cheltnham went for $270K. At 809m2 I guess you could only put two units up. I didn’t bid for it as it’s not my expertise. My hands are tied at present as I promised to be a good girl and not chomp at the bit…
Cheers [
]Soosh
It’s all our imperfections that make us perfect!
]
]
] So, instead of editing all my mistakes which would take till 2morrow I humbly beg that you ignore the grammar and take the ‘meat off the bone’. PI gang, if you will kindly add a spell check at some stage that would be great too [
] Pretty please ???
] [
] or just behind the [8] with work. It’s all cool [8D] !
