PropertyInvesting.com | Stuart Milne | Activity

Stuart Milne replied to the topic Vulture in Disguise in the forum General Property

Mon, 18 Dec 2006 09:18:23 +0000

Originally posted by carpe_diem:
He has since offered me a below market price also and I’ve said get lost and comeback to me via mail to gpo address with an offer I cannot refuse.

You told him to get lost and stonewalled the negotiations in doing so. Now you need to re-pen the dialogue and come to the table without putting your cap in hand. (or…[Read more]

Stuart Milne replied to the topic Investing - Fibro house in the forum General Property

Mon, 18 Dec 2006 08:57:46 +0000

ok depending on what state your in will depend on the order of events regarding contracts etc: In Qld the contract is subject to building and pest inspection and finance provided you put that in your offer which will be in most cases on a contract. I have my own form on which I make a formal written offer and fax that signed and dated to the real…[Read more]

Stuart Milne replied to the topic Driveway options in the forum Value Adding

Mon, 18 Dec 2006 08:51:04 +0000

go to http://www.shieldcoat.com.au and follow the links to their section on application of covercrete stencilled concrete that will basically transform your existing mess into a tropical wonderland! (Well not really but it will tell you how to fix that problem…)

Stuart Milne

Stuart Milne replied to the topic What Qualities should your agent have? in the forum Help Needed!

Mon, 18 Dec 2006 08:47:17 +0000

The ability to sell, and more importantly to listen. I am selling a property as we speak and the agent I had first listed the property with had decided to shotgun everyone and anyone through the doors in the hopes of getting a contract. to the extent that he took a mother and son through who wanted a two storey house with self contained downstairs…[Read more]

Stuart Milne replied to the topic Installation of new bath room in the forum Value Adding

Fri, 15 Dec 2006 10:25:02 +0000

I just did 2 bathrooms, materials cost me $3000 Approx and labour including plumbing about another $3000. these were big jobs though as I had to remove and fill a sunken shower cubicle, replaster and sheet a couple of walls, and remove three walls and a wardrobe. it also included full tiling. I’m happy to say it was worth the cash to pay for the…[Read more]

Stuart Milne replied to the topic roof restoration help in the forum No Subject

Fri, 15 Dec 2006 10:18:15 +0000

does your roof need to be replaced or can you re-seal and paint it? the sealing and painting can be done yourself if it doesn’t need replacing? I would suggest 2 coats of acryllic bitumen followed by an under coat and two top coats of paint. A good airless and some PVA Wood Glue will assist with the finish and texture and the PVC when mixed with…[Read more]

Stuart Milne replied to the topic Need help with numbers! in the forum Help Needed!

Fri, 15 Dec 2006 10:13:09 +0000

ok you said you have had the property for 5 yrs and rented it out for 3? did you owner occupy it for the first 2? if so speak to your taxation professional or Terry W from this forum re nil capital gains payable due to the owner occupation. I would suggst this is the case but not knowing your situation exactly I won’t speculate.

If you are…[Read more]

Stuart Milne replied to the topic HELP Finance Brokers in the forum Help Needed!

Mon, 11 Dec 2006 22:01:55 +0000

Originally posted by queengucci:

I have gone all through every piece of documentation and contract and it is outlined NOWHERE not even at settlement that $10,000 was being taken out of my equity loan. They simply dumped the funds into my account minus $10,000.

The bank and the mortgage manager are stunned, and have confirmed it is not in…[Read more]

Stuart Milne replied to the topic Tenancy Reference Check Questions in the forum Help Needed!

Mon, 11 Dec 2006 21:48:58 +0000

Thanks Marc, I checked their employment and whilst 2 of them have only been employed short term (1 for a week and the other 2 months) they came up ok. I also checked with their current Landlord and the reason for leaving there is a genuine owner re-occupation so that came up trumps as well. Great payment and maintenance history so what can i say…[Read more]

Stuart Milne replied to the topic Credit Rating in the forum Finance

Mon, 17 Jul 2006 02:50:58 +0000

If the debt is repaid on those terms they have no right to list it on his baycorp file. I would take the terms and then appeal the listing. Baycorp will remove it and give them hell for that he has repaid the funds owed, so there is no requirement for listing…

Stuart Milne
Non-Conforming Specialist
READY…[Read more]

Stuart Milne replied to the topic Market Price in the forum Help Needed!

Mon, 17 Jul 2006 02:41:30 +0000

Market Value = The absolute maximum price the market will bear for the goods at that point in time. This is why it fluctuates so wildly.

With regard to valuers on one of my recent purchases the valuer was kind enough to bring in the Valuation at $4k OVER what I paid for the property, and that is before We started on the clean up!

Stuart…[Read more]

Stuart Milne replied to the topic Water Tank in the forum Value Adding

Thu, 15 Jun 2006 07:57:49 +0000

I believe you get a BCC Rebate

follow this link:

http://www.brisbane.qld.gov.au/BCC:BRISWATER::pc=PC_1460

but be quick time is fleeting.

As for tax? Speak to your accountant…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic How Common is the 1% Loan Discharge Fee? in the forum Finance

Thu, 15 Jun 2006 07:51:00 +0000

Terry you would probably be amazed at which lender had that fee. They may have changed it now, but it was on a five year fixed rate regardless of when during the fixed period the loan was discharged…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic How Common is the 1% Loan Discharge Fee? in the forum Finance

Tue, 13 Jun 2006 21:04:16 +0000

Only 3% gee you guys are using the really nice lenders!

There are soem around who range up to 7% and this includes an internal refinance. Now that seems to be the pineapple treatment to me…

Good to see someone isn’t just focused on the rate and you’re looking at all of the options along with the full package…

Stuart Milne
Non-Conforming…[Read more]

Stuart Milne replied to the topic OWN or INVEST? in the forum General Property

Tue, 13 Jun 2006 21:00:42 +0000

You may (read should) still be able to obtain the FHOG as long as you have never lived in the Properties you invested in. I posted a link a while back to the Federal Govt Website on the FHOG Rules.

Thats a lot of Rent to be paying out. Are you perhaps in a position to purchase more property and move into cheaper accomodation? would this suit…[Read more]

Stuart Milne replied to the topic Advice on house and land package? in the forum No Subject

Tue, 13 Jun 2006 20:54:36 +0000

Originally posted by Rexilla99:
I am looking for my next investment property number 2 , I am looking for a house and land package, I would like some advice on anything to look out for and tips.

1.how long is settlement date for house and land package.
2. What happens if the builder does not finish in time for settlement?
3. If I buy…[Read more]

Stuart Milne replied to the topic Advice on house and land package? in the forum Help Needed!

Tue, 13 Jun 2006 20:54:36 +0000

Originally posted by Rexilla99:
I am looking for my next investment property number 2 , I am looking for a house and land package, I would like some advice on anything to look out for and tips.

1.how long is settlement date for house and land package.
2. What happens if the builder does not finish in time for settlement?
3. If I buy directly of…[Read more]

Stuart Milne replied to the topic RENOVATOR / BUILDING INSURANCE NEEDED in the forum Value Adding

Tue, 13 Jun 2006 10:43:33 +0000

NRMA is my preference Pay by the Month…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Can anyone tell me where we stand? in the forum Help Needed!

Mon, 12 Jun 2006 04:20:38 +0000

Bonnie if you are building two homes through them I would suggest you use that as leverage to get the tiles which are noted in your contrct at no extra price at exactly that.

Remind them the contract is binding, and you wouldn’t want to not use them next time…

Stuart Milne
Non-Conforming Specialist
READY…[Read more]

Stuart Milne replied to the topic Simple Tax advice query in the forum Legal & Accounting

Mon, 12 Jun 2006 04:18:02 +0000

I believe “Reasonable travel Expenses” are allowed.

And I also believe that yes you can claim more than one trip per year if they are in different Areas.

Best to speak with someone like your accountant first though…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Franchising in the forum Creative Investing

Mon, 12 Jun 2006 04:15:26 +0000

I do. All my friends were supportive and still are. My Parents well they have their own as well and so it is a case of they don’t stress and my Father is always handy for advice. (The man is very strange but brilliant when it comes to businesses and running issues day to day). I also speak with my other associates with businesses and network…[Read more]

Stuart Milne replied to the topic need number crunching in the forum Creative Investing

Mon, 12 Jun 2006 04:09:46 +0000

At $90/wl with a Value of $40,000 it is returning you 11.25%

At 60/wk around 8% what does it cost in Body Corporate fees, insurances and rates per year?

Does it owe you any money? If not & you have no need to divest your asset then why go down that road?

$90/wk when it owes you nothing is a bonus. That could be used to purchase another I.P.…[Read more]

Stuart Milne replied to the topic Low docs for serviceability in the forum No Subject

Mon, 12 Jun 2006 04:01:59 +0000

My Apologies Terry, I missed that one in the Product Updates.

It is fantastic how rapidly they are changing their Products now though. Although it can be a problem getting an approval through them in a reasonable time frame…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob:…[Read more]

Stuart Milne replied to the topic wardrobe doors in the forum Value Adding

Sun, 11 Jun 2006 21:51:14 +0000

Originally posted by frini:
Apparently bad feng shui having mirrors in the bedroom!![rambo2]

Maybe, but a LOT of FUN!!!!!

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic property management fees in the forum Help Needed!

Sun, 11 Jun 2006 21:44:43 +0000

SamJames,
Unfortunately Property Managers come in Great!, O.K. and Too-Awful-To-Describe-On_This-Forum…

I would also suggest you get what you pay for. I am always sceptical about the Fees they charge and don’t mind letting them know I expect Prompt Efficient Service. Some Landlords don’t care. As a result some Property Managers feel ALL of…[Read more]

Stuart Milne replied to the topic Can anyone tell me where we stand? in the forum Help Needed!

Sun, 11 Jun 2006 21:35:25 +0000

O.K. are the different tiles noted in the contract, but not in the pricing on the contract? If this is the case they have no option but to give you those tiles at the standard charge. Basically the contract should be a fixed price contract and they can only change it as per your variations AFTER commencement. If you entered into the contract at…[Read more]

Stuart Milne replied to the topic Building?? in the forum Value Adding

Sat, 10 Jun 2006 09:47:22 +0000

Originally posted by matt_hooper:

the cost is FROM $4600 a square

I’m pretty sure this line answers your question I have highlighted the Vital word for you!

Ps: No site allowance? No soil tests? Where is it? What is the wind rating? No rendering or bagging? No external painting?

The ceiling height is only 8″??? I can touch that you need at…[Read more]

Stuart Milne replied to the topic Seize the Opportunity!!! in the forum General Property

Sat, 10 Jun 2006 09:31:38 +0000

I personally would be thinking with that you could use the standard Coorparoo motto which seems to be 3-storey walk up 12 packs?

The land content is there and you have the option of even utilising the block to generate perhaps a more upmarket style with some having city views (from the spas on their private balconies of course)?

Try a Town…[Read more]

Stuart Milne replied to the topic listing agents in the forum Help Needed!

Sat, 10 Jun 2006 09:22:45 +0000

Turtle I’d like to catch up with you for coffee (and I’ll even buy as I know how tight you agents are! :p )

Please contact me to arrange a suitable time.

Thanks.

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic accountant talking us out of trust in the forum Legal & Accounting

Thu, 08 Jun 2006 11:25:18 +0000

I’m Stunned. That’s all I have to say. The loss of CoastyMike is a true loss to this forum. I have read many of his posts in awe at his simple manner of explanation and truly aspire to write like him. Unfortunately I am unable to yet, but with practice…

Lisa, if you don’t wish for your copy of Dale’s book to be wasted I’ll buy it off you for…[Read more]

Stuart Milne replied to the topic Who's Buying ? in the forum Help Needed!

Thu, 08 Jun 2006 10:49:40 +0000

I’m not so sure about the Development Sites in Adelaide, but I am planning on flying down there within the next couple of months and offloading a mil or so of My bank managers nightmares! I mean spending some of the money he ever so grudgingly hands to me…

Stuart Milne
Non-Conforming Specialist
READY…[Read more]

Stuart Milne replied to the topic is this a good deal in the forum Help Needed!

Thu, 08 Jun 2006 10:46:33 +0000

What are the outlays? management fees, body corporate etc? Insurances? Rates?

I would suggest against it personally but it may be the right thing for you. It is hard to know without knowing your personal position…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Multiplication x Division: I question this theory? in the forum Help Needed!

Thu, 08 Jun 2006 10:44:43 +0000

This theory works on the principle that yes your buy in costs are doubled, but so is your Capital Growth as you have Three yes three Properties where before you only had one. It is also handy when you have an underperforming assett…

Remember you are using the PROFIT to purchase the next two. your initial deposit is then placed on a third…[Read more]

Stuart Milne replied to the topic Grinding Floors Help in the forum Value Adding

Thu, 08 Jun 2006 00:19:40 +0000

Try Kennard’s or Coates Hire Perhaps even the hire Section of your local Bunnings – They should have one about the size of a Floor Polisher which will do the trick in no time for you.

Once you have done the floor self levelling concrete on top will fix any remaining probs. You could probably even cheat and get away with that without removing…[Read more]

Stuart Milne replied to the topic What would you do? in the forum Creative Investing

Thu, 08 Jun 2006 00:15:47 +0000

I agree Amanda, I once heard a saying I can’t remember who it was who said it though but here it is:

“Before you Lend Money to a Friend, decide which you need the most – The Money or the Friend”

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Bancruptcy in the forum Legal & Accounting

Thu, 08 Jun 2006 00:13:35 +0000

Damn there goes my new GSXR 1000 – all to pay for my Trusts!

Oh well I guess the scooter will have to suffice for a touch longer…

I have to ask now – Would it be prudent if you realised you were going to go Bankrupt (as unethical as this suggestion may be seen to be) to divorce your wife (you need a lot of faith in this) and remain living in…[Read more]

Stuart Milne replied to the topic Low docs for serviceability in the forum Finance

Wed, 07 Jun 2006 23:58:22 +0000

Terry, you forgot to mention the $500k minimum Loan Value on the 80% with RAMS

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic NSW - Homes for quick sale in the forum Help Needed!

Wed, 07 Jun 2006 12:37:29 +0000

Like anything Activity = Results. But in saying this you need to be prepared to ut in the time and come up with nothing. Then some days you will have 50 people call you and You will be exhausted.

Agents letterbox drop and it works for them why not cut them out of the picture? I have even walked up and downa street I wanted to buy in and knocked…[Read more]

Stuart Milne replied to the topic 95% of people are doomed to fail in the forum General Property

Wed, 07 Jun 2006 12:20:27 +0000

Success for me is to be truly happy in life. Now in order for that to happen I’ll need to retire at age 40 with a passive income of $2m per year. increasing with CPI naturally. This should allow me to crash some more motorbikes, oops I mean ride them through Europe and run amok on the AutoBahns over there whilst being young enough to apprecite…[Read more]

Stuart Milne replied to the topic Kiyosaki's new book in the forum General Property

Wed, 07 Jun 2006 12:12:48 +0000

Originally posted by wealth4life:
you cannot understand how women think or act. I firmly believe that women process information differently

and know when enough is enough, their basis of reasoning is different i believe – go ask your wife if you have one.

Aint that the truth!

With the exception of the enough is enough section. Try getting…[Read more]

Stuart Milne replied to the topic Low docs for serviceability in the forum Finance

Wed, 07 Jun 2006 11:56:31 +0000

I wouldn’t have thought they would have an issue with 80% LVR? Sounds like they don’t appreciate your Custom Matt.

Simon I always like your responses they are fantastic. Simple and easy to understand always a pleasure to read.

Matt the bottom line is speak to someone and if you don’t like the answer keep talking to new people until you do. In…[Read more]

Stuart Milne replied to the topic My turn to Brag !! in the forum Value Adding

Tue, 06 Jun 2006 08:22:32 +0000

Originally posted by AmandaBS:
Thanks Simon. It was only a basic makeover For those of you interested here goes;
Stumper to level and fix $3650
Plasterer $550
Tree lopper $750
New double carport kit $1486
New Laminex kitchen bench top $220
Bobcat $372
Pest Control $187
Skip bins 2 @ 190 = $380
Electrician $1204
New glass shower screen $829
New…[Read more]

Stuart Milne replied to the topic Whats the go with valuations man! in the forum Finance

Tue, 06 Jun 2006 07:55:33 +0000

Change banks and stop using the NAB…

All I can say…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Lost your marbles? in the forum General Property

Tue, 06 Jun 2006 07:51:58 +0000

Originally posted by foundation:
Ok, bear with me if you will. I’m going to present a lesson in markets in a number of parts, beginning with a simple analogy, then moving into more complex theory. It may not make much sense by the end, but I’ll begin slowly and see where the tale takes us. My intention is not to preach, but hopefully to encourage…[Read more]

Stuart Milne replied to the topic Just bought a block of land... in the forum Help Needed!

Tue, 06 Jun 2006 07:37:21 +0000

The usual subject to: Building & Pest inspection as well as finance.

Generally a good option to always remain covered…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic No deposit in the forum Finance

Mon, 05 Jun 2006 21:54:20 +0000

I’m thinking after reading this you need a new lender desperately!

Then again perhaps not. Maybe it just needs to be presented properly.

either way there are a heap of people who can assist you.

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Stuart Milne replied to the topic Whats The MAx price in the forum General Property

Mon, 05 Jun 2006 21:46:49 +0000

Dazz the Answer is NO!!!

You are not allowed to build yourself an embassy. I can picture it now – The Embassy for the Ambassador of DazzlingVille…

NO!

I do like the concept though. Perhaps it is more suited to a Hotell though?

Stuart Milne
Non-Conforming Specialist
READY…[Read more]

Stuart Milne replied to the topic how to not answer a real estate agent?? in the forum General Property

Mon, 05 Jun 2006 21:43:53 +0000

My line is – Money isn’t the object, the end result is. If the property is worth it I will pay the money, if not I won’t.

I always make my offers as promised to the Agents and as much as they dislike some of them they still always call me again and again as they know I will buy property. Now I have a couple of Agents who don’t even bother…[Read more]

Stuart Milne replied to the topic NSW - Homes for quick sale in the forum No Subject

Mon, 05 Jun 2006 21:36:05 +0000

I will step past the obvious as you no doubt have your funds organised already. Place an ad in the Local NewsPapers in the areas you are looking in stating you will purchase homes for cash. Find one negotiate the deal and buy it. Just go easy on the deceased estates…

Try the Public Trustee as well as ther Bailiffs. Speak with them and they…[Read more]

Stuart Milne replied to the topic How approachable are real estate agents for info? in the forum No Subject

Wed, 31 May 2006 00:03:47 +0000

If that’s the case with the agents you’re dealing with then you are simply dealing with the wrong agents.

I have a few who regularly email me new unmarketed listings or if they think one is particularly hot then they call me and we discuss it. I even get them to drive me around shopping for properties as well.

The tyre kicking attitude is…[Read more]