Somersoft Property Investment Forums - Panda http://www.somersoft.com/forums/member.php?u=2677 Posts from Somersoft Property Investment Forums by Panda en Fri, 10 Sep 2010 10:49:36 GMT vBulletin 60 http://www.somersoft.com/forums/images/misc/rss.jpg Somersoft Property Investment Forums - Panda http://www.somersoft.com/forums/member.php?u=2677 <![CDATA[Confused about career as 'accountant']]> http://www.somersoft.com/forums/showthread.php?t=52691#post550425 Tue, 26 May 2009 04:16:26 GMT Hi, Interesting post, Ive been looking into this myself as a potential carreer change. What sort of money could the average person running their own small accountancy firm doing trusts, returns etc (as Terry mentioned) make, realistically. Like asking how long is a peice of string? Cheers, Panda Hi,
Interesting post, Ive been looking into this myself as a potential carreer change.

What sort of money could the average person running their own small accountancy firm doing trusts, returns etc (as Terry mentioned) make, realistically.

Like asking how long is a peice of string?

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=52691#post550425 Distribution of income from a HDT where the investment loan is at the trust level http://www.somersoft.com/forums/showthread.php?t=30655#post270985 Wed, 14 Feb 2007 00:33:58 GMT Hi all, I have a question regarding trusts. Lets say I have a HDT and that trust owns 1 property worth say 200k Lets say that 100k of the loan is in the individual trustees personal name and the other 100k is at the trust level (so there is a split loan). The 100k at the trust level is a loan against the equity in the home of which that 100k was then invested in a cash flow investment such as the buying a selling of options contracts on the ASX. Lets say a positive cash flow profit was generated from this. As far as I understand, - The trustee can claim interest payments on the 100k loan in his personal name. The rent etc flows into the trust then out of the trust into the trustees personal account to cover interest payments for the loan (there are 100 000 x $1 income units that have been issued) - The interest payments on the 100k loan in the trust cannot be claimed - The cash flow derived from the options trading can be distributed at the discretion of the trustee meaning that the trustee does not have to have that income distributed to himself i.e. he could distribute it to a bucket company for example? As the loan is not in that individuals name? Have I got that right? Any comments thoughts appreciated. Cheers, Panda Hi all,
I have a question regarding trusts.

Lets say I have a HDT and that trust owns 1 property worth say 200k


Lets say that 100k of the loan is in the individual trustees personal name and the other 100k is at the trust level (so there is a split loan).

The 100k at the trust level is a loan against the equity in the home of which that 100k was then invested in a cash flow investment such as the buying a selling of options contracts on the ASX.

Lets say a positive cash flow profit was generated from this.


As far as I understand,

- The trustee can claim interest payments on the 100k loan in his personal name. The rent etc flows into the trust then out of the trust into the trustees personal account to cover interest payments for the loan (there are 100 000 x $1 income units that have been issued)

- The interest payments on the 100k loan in the trust cannot be claimed

- The cash flow derived from the options trading can be distributed at the discretion of the trustee meaning that the trustee does not have to have that income distributed to himself i.e. he could distribute it to a bucket company for example? As the loan is not in that individuals name?


Have I got that right?

Any comments thoughts appreciated.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=30655#post270985 Building picket fence myself http://www.somersoft.com/forums/showthread.php?t=28142#post240890 Tue, 26 Sep 2006 08:11:26 GMT Wow thats a great resource, thanks heaps. I havnt been on the forum for some time, not sure why I ever left. Anyway, Cheers Panda :) Wow thats a great resource, thanks heaps.


I havnt been on the forum for some time, not sure why I ever left.

Anyway,
Cheers
Panda :) ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=28142#post240890 Building picket fence myself http://www.somersoft.com/forums/showthread.php?t=28142#post240867 Tue, 26 Sep 2006 04:07:08 GMT Hi all, I want to build a fence around my IP. Its a corner block and requires 2 x 2 double gates and a single gate. Totally flat surface. The type of fence I want to build is a 1200 high colonial picket wooden fence. Im considering doing it myself as the products are alot cheaper to buy when not including labour. Has anyone done this before? Any pointers? Cheers, Mark Hi all,
I want to build a fence around my IP. Its a corner block and requires 2 x 2 double gates and a single gate. Totally flat surface. The type of fence I want to build is a 1200 high colonial picket wooden fence.

Im considering doing it myself as the products are alot cheaper to buy when not including labour.

Has anyone done this before? Any pointers?

Cheers,
Mark ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=28142#post240867 Two down, eight to go... http://www.somersoft.com/forums/showthread.php?t=26986#post226954 Thu, 27 Jul 2006 10:08:45 GMT Well done James. Thats a great result and there really is no better feeling than putting your money on the line and coming out on top as you have and are. looking for ward to hear about your next one. Cheers, Panda Well done James.
Thats a great result and there really is no better feeling than putting your money on the line and coming out on top as you have and are.

looking for ward to hear about your next one.

Cheers,
Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=26986#post226954 Achievement thread http://www.somersoft.com/forums/showthread.php?t=26229#post216898 Mon, 12 Jun 2006 01:27:03 GMT Hi all, I originally thought that the inspirations thread idea was a great idea. But after listening to the responses I think that a forum devoted to this would be even better. There are 2 main reasons. 1. It allows people, who have actually done what it takes a place to share it with like minded people. This is not egotistical its recognition by their piers and can be very motivating to that person to continue to strive. A whole forum would allow more flexibility of achievements to be in other areas that lead to their property investing success, however, may not be directly related to property as such. However, in saying that I can see the value in keeping it real-estate specific only. After all this is about property investing. 2. It would provide inspiration to other members no matter if they are just starting out or they are established. The reason a forum would be better is that people can ask questions (there will inevitably be lots of questions and so there should be I would have thought). A whole forum will also allow, - this site to operate in the same format rather than have one 300 page long sticky thread with a bunch of rules regarding posting - The size of the threads will be manageable even with qs Rules - I think there needs to be one main rule, and that is that it needs to be a real life _completed _achievement. The general forum can handle the idea type ones. - I tend to think that it should be recent achievements. The reason is that it will reflect the property market and conditions as it is now, not in the past. How that person did the deal inc structure etc can be questions to be asked. The answers would also take into account current conditions/new law or what ever I think that those 2 rules (particularly no1) will keep the forum very specific (with out to many rules), which is good for the forum as a whole as we have other areas that deal with the other sorts of topics. Also keeping rule number 1 will keep it firmly in reality and hence increase the value for all. Just my opinion. Cheers, Panda Hi all,
I originally thought that the inspirations thread idea was a great idea. But after listening to the responses I think that a forum devoted to this would be even better.

There are 2 main reasons.
1. It allows people, who have actually done what it takes a place to share it with like minded people. This is not egotistical its recognition by their piers and can be very motivating to that person to continue to strive. A whole forum would allow more flexibility of achievements to be in other areas that lead to their property investing success, however, may not be directly related to property as such. However, in saying that I can see the value in keeping it real-estate specific only. After all this is about property investing.

2. It would provide inspiration to other members no matter if they are just starting out or they are established. The reason a forum would be better is that people can ask questions (there will inevitably be lots of questions and so there should be I would have thought).

A whole forum will also allow,
- this site to operate in the same format rather than have one 300 page long sticky thread with a bunch of rules regarding posting
- The size of the threads will be manageable even with qs

Rules
- I think there needs to be one main rule, and that is that it needs to be a real life completed achievement. The general forum can handle the idea type ones.

- I tend to think that it should be recent achievements. The reason is that it will reflect the property market and conditions as it is now, not in the past. How that person did the deal inc structure etc can be questions to be asked. The answers would also take into account current conditions/new law or what ever

I think that those 2 rules (particularly no1) will keep the forum very specific (with out to many rules), which is good for the forum as a whole as we have other areas that deal with the other sorts of topics.

Also keeping rule number 1 will keep it firmly in reality and hence increase the value for all.

Just my opinion.

Cheers,

Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=26229#post216898 Finally acheived a major goal http://www.somersoft.com/forums/showthread.php?t=26185#post216228 Thu, 08 Jun 2006 01:45:19 GMT Well done. That’s a great achievement. I am in total agreement to the achievement thread. It would be good if we could keep the thread clean of discussion and just have peoples achievements no matter how large or how small. It would be a great place to go just to get motivation and inspiration. Do others agree? What do the modrators say? Cheers, Panda Well done. That’s a great achievement.

I am in total agreement to the achievement thread. It would be good if we could keep the thread clean of discussion and just have peoples achievements no matter how large or how small. It would be a great place to go just to get motivation and inspiration.

Do others agree? What do the modrators say?

Cheers,
Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=26185#post216228 Recognised forms of income for serviceability http://www.somersoft.com/forums/showthread.php?t=26181#post215982 Tue, 06 Jun 2006 23:48:41 GMT Hi all, Just wondering what forms of income are recognised by banks as reliable income when applying for loans and at what %. I know that there is, - Rental income (i think considered at 80%) - JOB - Business income ( i think 2 years solid evidence is expected) - Gov bonds (although that may have changed) - What other forms will increase serviceability?? Cheers, Panda Hi all,
Just wondering what forms of income are recognised by banks as reliable income when applying for loans and at what %.

I know that there is,
- Rental income (i think considered at 80%)
- JOB
- Business income ( i think 2 years solid evidence is expected)
- Gov bonds (although that may have changed)

- What other forms will increase serviceability??


Cheers,
Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=26181#post215982 Rocky - Suprised at ongoing strength http://www.somersoft.com/forums/showthread.php?t=24732#post198306 Tue, 14 Mar 2006 22:48:39 GMT Wow thats great Roger congrats :) I don’t know a huge deal about Mackay but while thinking about how far Rocky is going to go I think its worth asking the question what is different or similar about Rocky and Mackay. I often here agents comparing them, I know they are similar in many respects. I also know that allot of locals have connections with Mackay, for example their brother lives there or they used to or are going to etc. What has allowed Mackay to continue and are those same factors present in Rocky? Is it a reasonable comparison? WDYT? Cheers, Panda Wow thats great Roger congrats :)

I don’t know a huge deal about Mackay but while thinking about how far Rocky is going to go I think its worth asking the question what is different or similar about Rocky and Mackay.

I often here agents comparing them, I know they are similar in many respects. I also know that allot of locals have connections with Mackay, for example their brother lives there or they used to or are going to etc.

What has allowed Mackay to continue and are those same factors present in Rocky? Is it a reasonable comparison?

WDYT?

Cheers,
Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=24732#post198306 Rocky - Suprised at ongoing strength http://www.somersoft.com/forums/showthread.php?t=24732#post198109 Tue, 14 Mar 2006 05:25:02 GMT Yeah I have been watching Rocky as I have property up there. I think Rocky has been undervalued for quite a while and its seemed that it was slow for the recent boom to catch on.

Ofcourse it will come to an end but I dont think prices will drop back very much from where they are.
the main reasons are,
- Yields have been strongly on the increase which will put a floor on how far prices can drop back. This is another reason I think that the market has not slowed down too much.
Proof of that is a property that I bought about 2 years ago up there. It was renting at 80pw although was worth 120. Its now at 200pw (with some reno's having been done). This sort of return allows prices to be higher because you can still get a good yield at the higher price.

Infact the yield on this property has remained the same when calculating yield based on current value. So the property has gone up and the yield has remained the same, which is great! Normally as a house rises the yield (if calculated on value) will fall since rent stays the same.
- The other reason is that its been undervalued for some time. If you compare what Rocky offers (infrastructure, vacancy rates etc) with other similar towns then Rocky seems like good value.

Ofcourse its easy to see all that in hindsight but they are the reasons that I have come to. Would be interested in anyones comments on that agree or disagree.

Cheers,
Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=24732#post198109 Shares and HDT http://www.somersoft.com/forums/showthread.php?t=24756#post198103 Tue, 14 Mar 2006 04:54:00 GMT Hi Guys, Is anyone using their HDT for investing in shares. I would be interested in hearing others experiences, advantages, disadvantages etc. Im going to take a look at Dales book tonight and see if there is much mention of it. Cheers, Panda Hi Guys,
Is anyone using their HDT for investing in shares. I would be interested in hearing others experiences, advantages, disadvantages etc.

Im going to take a look at Dales book tonight and see if there is much mention of it.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24756#post198103 Trust and neg gearing http://www.somersoft.com/forums/showthread.php?t=24675#post197760 Sun, 12 Mar 2006 09:56:39 GMT Thanks guys,
I called up the ATO and spoke with someone there and they said that an ammendment for both years would be no problem, just need to submit it.

I may need to take you up on that offer Mry. I'll see how I go first.

Thanks again,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24675#post197760 Buying units in trust http://www.somersoft.com/forums/showthread.php?t=24679#post197234 Thu, 09 Mar 2006 22:38:10 GMT Thanks Redwing,
I just found and read that section. I missed that. I was reading pages 118-119. I think I'll read the whole book again.

Thanks for your comments.


Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24679#post197234 Trust and neg gearing http://www.somersoft.com/forums/showthread.php?t=24675#post197228 Thu, 09 Mar 2006 22:21:58 GMT The situation now is that I have just recieved a large tax bill from the ato since property income and expenses have not been accounted for in my personal income tax return. So my plan is to talk to my existing accountant to sort this out and highlight how it works along with the paragraphs in the trust deed that allows it and the special units etc. Will the accountant be able to ammend my tax return and resubmit it? There is also a case for last years as well which is in the same boat since it was the same accountant. Cheers, Panda The situation now is that I have just recieved a large tax bill from the ato since property income and expenses have not been accounted for in my personal income tax return. So my plan is to talk to my existing accountant to sort this out and highlight how it works along with the paragraphs in the trust deed that allows it and the special units etc.

Will the accountant be able to ammend my tax return and resubmit it? There is also a case for last years as well which is in the same boat since it was the same accountant.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24675#post197228 Trust and neg gearing http://www.somersoft.com/forums/showthread.php?t=24675#post197174 Thu, 09 Mar 2006 13:07:33 GMT Hi GreatPig, The loan is in my personal name and the property is in the trust and there has been special income units issued. I did all this research ages ago before I set up the trust and knew what I was talking about back then. Then I sort of gave it over to a new accountant and forgot about it and just trusted him. I have been given this lesson twice now. But obviously have yet to learn it properly and that is, as an investor you don’t need to know everything but you need to know enough to be able to actively check over and ensure that everything is functioning properly. Its a bit of work but its important as this keeps you in the drivers seat. I think a checklist is the go. So every year at tax time I check off my check duties and rules and ensure that im going in the predetermined direction and that everyone is on the same page. Cheers, Panda Hi GreatPig,
The loan is in my personal name and the property is in the trust and there has been special income units issued. I did all this research ages ago before I set up the trust and knew what I was talking about back then. Then I sort of gave it over to a new accountant and forgot about it and just trusted him.

I have been given this lesson twice now. But obviously have yet to learn it properly and that is, as an investor you don’t need to know everything but you need to know enough to be able to actively check over and ensure that everything is functioning properly. Its a bit of work but its important as this keeps you in the drivers seat.

I think a checklist is the go. So every year at tax time I check off my check duties and rules and ensure that im going in the predetermined direction and that everyone is on the same page.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24675#post197174 Buying units in trust http://www.somersoft.com/forums/showthread.php?t=24679#post197170 Thu, 09 Mar 2006 12:52:55 GMT Hi Mry,
Thank you for your response. I do understand that this forum is not about specific advice and is general in nature.

Really what I’m asking is about the actual documentation that is involved when issuing special income units in the HDtrust. It seems to me that this is a matter that is determined by the trustee alone, no third party is required. The documentation as far as I can see is filling out an application for special units which also outlines the rights to the holders and then also issuing a certificate of special income units along with maintaining a register of unit holders.

My query is, is that it? is there any third party registration or any other thing that needs to happen? It would seem that this is simply a question of form filling and filing by the trustee and that’s it?

I’ve been going over the trust deed and it specifies that the trustee has the right to issue "special Units" at any time to any person including a beneficiary. Therefore, I think that I can conclude from that that,

- The trustee issues the units at the trustees discretion as long as it abides by the powers of the trustee
- The actual documentation involved is as described above
- There is no third party involved

Anyway thank you for your comments.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24679#post197170 Buying units in trust http://www.somersoft.com/forums/showthread.php?t=24679#post197086 Thu, 09 Mar 2006 06:49:13 GMT Hi all, In order to neg gear a property in a HDT I understand the process to be, 1. Bank lends me money 2. I buy units in trust 3. Trust buys property 4. Income and expenses flow down into personal income tax assessment My question is what documentation is involved in the buying of the units in the trust. Is it just a automatic thing that happens when the loan is in the trustee (individuals) name and the property is in the trust? or is there another document that specifies units purchased? I am trying to determine if my loans and property are set up correctly for this. - The loan is in my name - The property is the trusts - The trust deed should be fine as I had a very good NSW accountant set it up with this in mind. Its just after I had it set up I swapped accountants and I have now found that the profit and loss of the trust has not been accounted for in my personal return. Any comments would be a great help. Cheers Panda Hi all,
In order to neg gear a property in a HDT I understand the process to be,

1. Bank lends me money
2. I buy units in trust
3. Trust buys property
4. Income and expenses flow down into personal income tax assessment

My question is what documentation is involved in the buying of the units in the trust. Is it just a automatic thing that happens when the loan is in the trustee (individuals) name and the property is in the trust? or is there another document that specifies units purchased?


I am trying to determine if my loans and property are set up correctly for this.

- The loan is in my name
- The property is the trusts
- The trust deed should be fine as I had a very good NSW accountant set it up with this in mind. Its just after I had it set up I swapped accountants and I have now found that the profit and loss of the trust has not been accounted for in my personal return.

Any comments would be a great help.

Cheers
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24679#post197086 Trust and neg gearing http://www.somersoft.com/forums/showthread.php?t=24675#post197076 Thu, 09 Mar 2006 05:51:41 GMT Hi I just did some more research and it seems that I can and therefore should be doing this. but it seems that my accountant has not been doing this :( . Which I suppose is my responsibility ultimatly. Cheers, Panda Hi I just did some more research and it seems that I can and therefore should be doing this. but it seems that my accountant has not been doing this :( . Which I suppose is my responsibility ultimatly.

Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24675#post197076 Trust and neg gearing http://www.somersoft.com/forums/showthread.php?t=24675#post197069 Thu, 09 Mar 2006 05:27:06 GMT Hi all, If i have property in a hybrid D Trust and I make a loss due to mortgage interest payments being above and beyond rental ncome and the trustee is me as an individual can I claim that interest as a deduction on my personal tax or does it remain within the Trust and hence NOT reduce my taxable income? Any comments greatly appreciated. Cheers, Panda Hi all,
If i have property in a hybrid D Trust and I make a loss due to mortgage interest payments being above and beyond rental ncome and the trustee is me as an individual can I claim that interest as a deduction on my personal tax or does it remain within the Trust and hence NOT reduce my taxable income?

Any comments greatly appreciated.


Cheers,
Panda ]]> Accounting and Tax Panda http://www.somersoft.com/forums/showthread.php?t=24675#post197069 What is strata title?? http://www.somersoft.com/forums/showthread.php?t=24243#post192439 Sat, 18 Feb 2006 07:30:46 GMT Hi,
Thanks for the information. I'm going to need to look into this further.
Cheers,
Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=24243#post192439 What is strata title?? http://www.somersoft.com/forums/showthread.php?t=24243#post191245 Mon, 13 Feb 2006 08:42:02 GMT Hi all,
I've got a block of land that will soon have 2 houses on it, an existing house and one that I am looking to build. The land is suitable to be zoned as a duplex site and in this area the council are fine with 2 separate houses on the one block.

I've got it sused out pretty much in terms of numbers, costs etc etc. I’m just wondering about strata title. If I wanted to sell one of the houses and keep the other as far as I understand I would need to strata title the property. But I’m not completely sure what that means exactly and what the costs are or even how to go about it ( I think I do it through the council). Can someone give me a strata title 101 comment?? :confused: admittedly I haven’t researched it thoroughly as yet.

As far as I understand this will create a body corp. If I wanted to sell off the whole block would I get more for it if its strata titled?

Thanks for any comments,

Panda :rolleyes: ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=24243#post191245 Mitigating the risk of council dis-approval http://www.somersoft.com/forums/showthread.php?t=23618#post184512 Thu, 12 Jan 2006 22:18:49 GMT Thanks alot guys,
The reno's I have done so far have all been fixing or replacing what was already there. So I've never really needed to think about it. I suppose small work like a deck etc wouldnt be too hard to get through council anyway.


Willair you mentioned checking to see if the plumbing is legal. How do you do that? I know with a granny flat you could get an idea that its not legal by the head height etc. But the plumbing could look like a plumber has done the work, so how do you know.

Thanks again everyone.


Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=23618#post184512 Mitigating the risk of council dis-approval http://www.somersoft.com/forums/showthread.php?t=23618#post183952 Tue, 10 Jan 2006 01:39:13 GMT Hi all,
I was wondering how people go about the following scenario.

Say your doing an inspection of a potential reno and your thinking something like,

- I'll knock that wall down
- I'll extend the deck
- I'll put in another bathroom there
- other items that may require council permission etc etc.

My question is how do you set it up so you know that you can get council approval prior to committing to buy it?

- Is it a matter of knowing what you can get passed and what you cant prior to buying the property?

- How do you mitigate the risk of council knocking you back on an item?
- How do developers handle this situation and do those same techniques apply to renovators?

Anyone who has actually done this in real life? or has a process in place for this?

Thanks for any thoughts given.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=23618#post183952 Differences in appraised rental value http://www.somersoft.com/forums/showthread.php?t=23142#post179563 Fri, 02 Dec 2005 02:13:00 GMT Yes I agree with what your saying there Puppeteer. I approach that as having to do your research. It doesnt take much to understand what your property will rent for, and if I had a property manager say oh I can rent it for X without having ever seen it then I wouldnt even go near them. Panda Yes I agree with what your saying there Puppeteer. I approach that as having to do your research. It doesnt take much to understand what your property will rent for, and if I had a property manager say oh I can rent it for X without having ever seen it then I wouldnt even go near them.

Panda ]]> Property Management Panda http://www.somersoft.com/forums/showthread.php?t=23142#post179563 House opportunity Brisbane http://www.somersoft.com/forums/showthread.php?t=23127#post179524 Thu, 01 Dec 2005 11:31:23 GMT Hi Joy, When you say valued at $X. Have you had a valuation done by a registered valuer?? Who says they are valued at this amount? Panda Hi Joy,
When you say valued at $X. Have you had a valuation done by a registered valuer?? Who says they are valued at this amount?


Panda ]]> Caveat Emptor (Buyer Beware) Panda http://www.somersoft.com/forums/showthread.php?t=23127#post179524 Restumping only http://www.somersoft.com/forums/showthread.php?t=23083#post179523 Thu, 01 Dec 2005 11:25:49 GMT Hi Ana,
I know that you clearly said that you do NOT want to raise the house. However, have you considered the effect on the value of the house if you do?

Raising a house to legal head height basically doubles your houses floor area (there is value in this). If you need to get the house restumped anyway you may be able to recope some of that cost through the amount of extra value that you "MIGHT" create by going higher. You could do some research into this to find out if that’s true and by how much.

Just because you are going to legal head height does not mean that you have to build in under. You could simply baton underneath and then it will be there for later or for when you sell.

I have a QLDer that was restumped and concreted under before I bought it. I really wish that they had made it to legal head height as that one feature in that area can add significant value in a buyer eyes, ( not equivalent in a valuers eyes when it has not been built under I would suspect). But just having the option is a sellable point.

good luck with it.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=23083#post179523 Differences in appraised rental value http://www.somersoft.com/forums/showthread.php?t=23142#post179522 Thu, 01 Dec 2005 11:06:52 GMT Great replies, thanks. I called them up and decided to let them do their thing in terms of amount. I will keep in mind what you mentioned crest133, this is a good opinion I think. They came across as very proffessional and I have stressed the importance of good communication and thourough background checks etc. They outlined their system which I liked and the fact that they even have a system is a good sign. Thanks, Panda Great replies, thanks.

I called them up and decided to let them do their thing in terms of amount. I will keep in mind what you mentioned crest133, this is a good opinion I think.

They came across as very proffessional and I have stressed the importance of good communication and thourough background checks etc. They outlined their system which I liked and the fact that they even have a system is a good sign.

Thanks,
Panda ]]> Property Management Panda http://www.somersoft.com/forums/showthread.php?t=23142#post179522 Need help with reno schedule http://www.somersoft.com/forums/showthread.php?t=23198#post179521 Thu, 01 Dec 2005 10:56:28 GMT Well I'll comment as long as I can come to the party. Deal? I'll bring a pole dancer with me. :D

- Do the carpets last as these will work as a natural drop sheet for all the painting work.
- Do the construction work before painting. I'd hit that first.
- Not sure what’s involved with the pole. But that may be able to be put in last depending. Not sure about that
- Do all the paint work in one hit. Easier.
- Spend most of you time on prep for the paint work the better you get that the better your finish will be and use reasonably quality paint and use quality gap filler. Its allot more exy but its essential (I learnt that the hard way)
- For the kitchen. You can save a tone by doing it yourself. Look into flat pack kitchen is if you are interested in doing yourself.
- Make sure you get a professional for the wiring
- For the pc and router I’m not sure what wiring you need to do for that. Are you thinking ADSL which means that there is no wiring needed. Being in a unit you will get plenty of coverage from your router
- The main expense will be in the kitchen
- I noticed you do not have paint ceilings in your list. Is that something you need to add? The house that I did recently I painted the ceiling the same colour as the walls. The house is huge. That came up great. But if I was doing a unit I would probably do the ceiling a diff colour.

Sounds like you should be able to get a pretty good place sorted after your finished. Good luck.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=23198#post179521 Differences in appraised rental value http://www.somersoft.com/forums/showthread.php?t=23142#post178878 Sat, 26 Nov 2005 03:38:11 GMT Hi all,
I’ve just finished doing some reno's on a house in QLD and am ready to put it back up for rent. The area has some bad rental managers in it. Another investor recommended a manager the she uses so I thought that I would go with that recommendation.

I then got 3 rental appraisals done one of which was the recommended manager. I thought that the property would rent for about $180pw. Anyway all rental appraisals came back at about 170 - 180 pw tops accept for the recommended agent that came in at $200pw :eek: .

I have decided to go with my friends recommendation, however, im wondering if I should ask her (the property manager) to drop the rent a little. The reason for this is that I would prefer to have a tenant in for a longer time then be turning over new tenants all the time.

What do you guys think? On the other hand I’m tempted to just let her do her thing and get $200pw for it if she can. Or is she just saying that to get the management listing. In which case I will need to drop the rent after waiting which will cost me money.

The area has a vacancy rate of less than 3% and rents are climbing strongly at this stage. So tenants are there I am confident that I will get a tenant quickly but not sure if I will at $200pw.

Any opinions?

Cheers,
Panda ]]> Property Management Panda http://www.somersoft.com/forums/showthread.php?t=23142#post178878 Ideas for quick bathroom http://www.somersoft.com/forums/showthread.php?t=22609#post173988 Thu, 20 Oct 2005 12:10:33 GMT Hi Guys, Thanks for the suggestions. I think I’m going to go the vinyl as you say. I noticed that you can get vinyl tiles that are 305mm x 305mm that also have an adhesive. So I think I will sus those out too. I’m in a rush because, well quite allot of reasons, basically I need to move back home before Christmas because I have invited every Tom, Dick and Harry to come and have Christmas with me and I’m still in the throws of this reno which is about 7 hours drive from home. :eek: Not to mention a myriad of other reasons :rolleyes: Oh well. The best way to get you REALLY motivated is to create deadlines and I’m good at creating those. Thanks again, Cheers, Panda Hi Guys,
Thanks for the suggestions. I think I’m going to go the vinyl as you say. I noticed that you can get vinyl tiles that are 305mm x 305mm that also have an adhesive. So I think I will sus those out too.


I’m in a rush because, well quite allot of reasons, basically I need to move back home before Christmas because I have invited every Tom, Dick and Harry to come and have Christmas with me and I’m still in the throws of this reno which is about 7 hours drive from home. :eek: Not to mention a myriad of other reasons :rolleyes:

Oh well. The best way to get you REALLY motivated is to create deadlines and I’m good at creating those.


Thanks again,

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=22609#post173988 Ideas for quick bathroom http://www.somersoft.com/forums/showthread.php?t=22609#post173471 Sun, 16 Oct 2005 11:31:54 GMT Hi Guys,
I have a bathroom that I need to fix up on the cheap and fast as I am running out of time. It's in a QLD'er. There is a newish vanity in there which can stay however, it has a few cigarette burn marks (any ideas on how to get those off?).

It has a hip bath (which is one of those small shower/baths from the old days) I’m going to fit a shower screen to that.

The floor has lino on it very ugly and the walls have green lamipanel on them upto about 6 or 7 foot or so and then wall upto 12 foot cieling height. The wall has been painted.

I was going to tile the floor but I just don’t think I’m going to have time. Can new lino look any good? The rest of the house has polished floors. I cant polish the floors in there as there is masonite on the floor and a few bad boards under that.

Has anyone done anything good with lino or any other product ideas or anything.

Thanks for any input.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=22609#post173471 Maybe BIS will get this one right... http://www.somersoft.com/forums/showthread.php?t=22326#post171437 Thu, 29 Sep 2005 13:23:13 GMT Nice post, good read.


I wonder how long the down turn portion of the cycle will remain. One nice side effect is the attention you get from real estate agents now. When its booming they don’t even want to know you unless you have check book in hand.

I have a friend who has been in real-estate for many years. She and her husband owned 4 agencies (very successful). Before things started to slow they closed/sold a number of their branches and then franchised (bought into an exisisting franchise) their remaining branch and purchased another real-estate franchise. They have been through cycles before. I think that this was possibly a very good move for them.

They sold at the top of the market and locked in their profit and then consolidated and aligned themselves with a larger business that can offer some resilience through a down turn. They have a pretty strong rent role too, however, I think that has been diminishing in recent years. I think running a successful rent roles requires very strong management and above all people skills.

This selling at the top of the market is similar to what many investors have done. Personally I think that this is a good strategy. I think holding property that is CF+ is ok for a down market, but I have not been able to get comfortable with the idea of holding too many negative geared properties through a looming down cycle. Not trying to be negative. I suppose it depends on the individual’s goals.

I've had a number of discussions with my friend above about property. She was telling me that years prior to this recent boom there were many people who had bought house and land packages along with landscaping etc at 100 -110% lends. The unfortunate thing was that these properties never gained in value for years and there was no way that the owners could sell as they would be making an immediate loss (properties dropped in value). So these people, many were miners, apparently sat of these houses for years.

Then when the market started to take off they were the first ones to sell as it was their ticket out. Ofcourse those same properties then double if not quadrupled over the next few years through the boom.

Part of this reasoning is why I take the idea that sitting on a loss making property while in the down turn may not be the best strategy. It would seem that when the market turns there is considerable capital gain and warning. I’m not convinced that you need to sit on a property for say 5-8 years of flat growth to wait for the boom.

There are many people buying up negative geared properties now. If your expectation is that the market is on the rise ( as some parts of the country are ) then that’s a good thing. However, if you position is that the market is not on the rise then why would you??

Any way I think that this is turning into a rave :) .

However, I would like to hear your opinions.

The question is why buy negative geared properties now? (Excluding current growth areas)


Cheers

Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=22326#post171437 adding a balcony http://www.somersoft.com/forums/showthread.php?t=22266#post171416 Thu, 29 Sep 2005 11:58:05 GMT One way to get around the disturbing of the tenant problem is to show the probable increase in rent that could be achieved. This, coupled with the extra equity (as depreciator mentioned), should sway them. I have never done this but you can make good money doing this sort of thing. I think it will come down in part to your negotation and managment skills. Cheers, Panda Best of luck One way to get around the disturbing of the tenant problem is to show the probable increase in rent that could be achieved. This, coupled with the extra equity (as depreciator mentioned), should sway them.

I have never done this but you can make good money doing this sort of thing. I think it will come down in part to your negotation and managment skills.


Cheers,
Panda

Best of luck ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=22266#post171416 Painting a roof http://www.somersoft.com/forums/showthread.php?t=21531#post169248 Sat, 10 Sep 2005 22:54:54 GMT No action pic's Im afraid but I should put up before and after photos of my abdominals muscles, (man they got a work out). Personally I like my flabby gut muscles, so they were not immpressed :-)

I slso got an update on the acrylic roof paint side of things. You can use acrylic if your roof doesnt have too much rust on it which would really make the job alot easier. Go the enamal if theres heaps of surface rust.

Cheers,

Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21531#post169248 Sunshine Coast http://www.somersoft.com/forums/showthread.php?t=22066#post169213 Sat, 10 Sep 2005 05:28:28 GMT Thanks, I was checking out Sunshine Beach. Sunrise is a great are too. Cheers, Panda Thanks,
I was checking out Sunshine Beach. Sunrise is a great are too.

Cheers,
Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=22066#post169213 Sunshine Coast http://www.somersoft.com/forums/showthread.php?t=22066#post169107 Fri, 09 Sep 2005 03:48:03 GMT emcdonald,

Surely this is price range is not Sunshine Beach and only three streets from the beach. What area are you talking about in the below quote??



Quote:
There are several home for sale in the streets adjacent to us. Most are older BV homes with 3 bedrooms, 2 bathrooms that are three streets back from the water. We've seen these for sale around the $330k to $489k mark. Being close to the water and schools they might be worth looking at as a potential PPOR?

Cheers,
Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=22066#post169107 Sunshine Coast http://www.somersoft.com/forums/showthread.php?t=22066#post169062 Thu, 08 Sep 2005 23:18:37 GMT I have also noticed that the coast prices are better now than what they were. This is part of the reason I suggested Buderim. It looks like prices are a bit better there than they were. Mind you this is my observation only no hard data. And I still think that your friend will need to hunt around a bit. Cheers, Panda I have also noticed that the coast prices are better now than what they were. This is part of the reason I suggested Buderim. It looks like prices are a bit better there than they were. Mind you this is my observation only no hard data.

And I still think that your friend will need to hunt around a bit.

Cheers,
Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=22066#post169062 Painting a roof http://www.somersoft.com/forums/showthread.php?t=21531#post169002 Thu, 08 Sep 2005 05:26:35 GMT It will take you longer than a week to prep. Unless you have really good surfaces and then still not sure if you would have the time enough. Also there are always repair jobs to do which really suck up your time. Painting is a big job. For example I still have windows to do they take time as you are cutting in etc. One way to cut it down if you really want to plough through the work quickly is hire a few labourers for the prep work. Good luck with your painting jobs. I think next time I will get a labourer to help with the prep. Panda It will take you longer than a week to prep. Unless you have really good surfaces and then still not sure if you would have the time enough. Also there are always repair jobs to do which really suck up your time.

Painting is a big job. For example I still have windows to do they take time as you are cutting in etc.

One way to cut it down if you really want to plough through the work quickly is hire a few labourers for the prep work.

Good luck with your painting jobs.

I think next time I will get a labourer to help with the prep.
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21531#post169002 Sunshine Coast http://www.somersoft.com/forums/showthread.php?t=22066#post168985 Thu, 08 Sep 2005 03:18:24 GMT Buderim is pretty good also coolum experienced strongest growth in the recent boom. 330 - 400k is entry point for Buderim. If you want to go cheaper you can still get houses in Nambour for about 250k. Nambour is inland and sort of country compared to more coastal areas. A straight buy in any of these areas does not really show very good yields. Long term anywhere around the coast I think will do well, buderim, Maroochydore, Mooloolaba etc Cheers Panda Buderim is pretty good also coolum experienced strongest growth in the recent boom. 330 - 400k is entry point for Buderim.

If you want to go cheaper you can still get houses in Nambour for about 250k. Nambour is inland and sort of country compared to more coastal areas. A straight buy in any of these areas does not really show very good yields. Long term anywhere around the coast I think will do well, buderim, Maroochydore, Mooloolaba etc

Cheers Panda ]]> Where to Buy Panda http://www.somersoft.com/forums/showthread.php?t=22066#post168985 Painting a roof http://www.somersoft.com/forums/showthread.php?t=21531#post168974 Thu, 08 Sep 2005 02:11:56 GMT Sorry for all my typos and bad grammar in the previous post (makes for a good laugh though :p ). knightm, ---Quote--- 1 What repairs did you do? ---End Quote--- There were lots of roof nails where the tops had fallen off. I pulled allot of these out and replaced them. I also filled a few small holes with a paintable sealer. I also put new roof nails in a few places where some sheeting needed reinforcement. ---Quote--- 2 Is the penetrol a rust inhibitor? (good idea to use the weed thing btw, but I dunno why anyone would want to dispense weeds? ) ---End Quote--- Penetrol is an oil based primer and surface conditioner. It helps bond paint down hard to the surface. I spoke to a fair few people including a roofing company and they all use it on the tin roofs. You can also add it to your paint (oil based only ofcourse) and it makes the paint so smooth. I added some to my oil based undercoat used on the weatherboards. If you are going a gloss enamel topcoat on your windows for instance, you can mix some of this in and it makes the finish nice and smooth. ---Quote--- 5 If the paint shop wont allow enamel, what paint would one normally use if spraying - is external acrylic used for roofs? ---End Quote--- I think there are acrylic based roof paints. If you were going that way you could use an airless. Or you could use an airless with enamel paint. The airless spray guns are great for large interior and exterior surfaces. I have used them in the past on interior and as mentioned exterior. Normally you would not be using an oil based for walls in or out. ---Quote--- 6 Good to hear the gun worked, any tips for using that? What did you have to mask (other than windows)? And how much does the paint get on everything else? ---End Quote--- The over spray is not that bad, its more something you worry about but when you actually do it realise its not a huge deal. However, you need to be careful. With acrylic based paint over spray will dry in the air so there is less of a risk. Enamel based is a different story it takes longer to dry so the over spray can be still wet when it lands on the neighbors car. I’m lucky on this one as I only have one neighbor and every one else is across the road. I parked my car infront of the houses across the road as a show of faith. Didn’t get a spec on it. For my neighbor I organised it with her. I covered her car with 4 drop sheets first and was careful with over spray reaching her house. The best tip I have for the gun is spend time getting the pressure right. This is so important. If it’s too strong you will literally go through buckets and buckets of paint ($). You will normally go through more paint than if you were rolling/brushing when using a gun. However, if you get your pressure correct then this does not have to be the case. I used only 1 litre extra on the walls than the coverage specified on the tin. I was really wrapped with that. One other time I did an interior and used way too much paint. So it’s the pressure. Other tips, - Dont put you hand in front of the nozzle. Although its not massive pressure it still pushes it out. - I use some disposable overalls that also covers you head, a pair of sunnies and a p2 disposable mask. You probably don’t need a p2, but I use those ones for everything I do. They are the ones that people use for lead and asbestos - If you are doing the outside make sure you get a considerable size machine with tones of hose - Recommend doing the eaves the same colours as the walls for exterior and wall and ceiling colour the same for interior - My windows need allot of work so I just taped up the whole frame - I got over spray on the roof in four places due parts of the walls extending into the roof. I did the roof after the walls. A little back the front but I had other reasons for needing to do that. Very little over spray. - I did it by myself, moving scaffold around etc. If you had a second person you can reduce over spray by getting them to hold a big piece of cardboard in places - Also another trick is start at one wall an go to the end then stop leave the scaffold give it 15 mins and if dryish wack on your second coat. This way you don’t need to go around the whole house twice - nothing else needed taping up. However, you need to make sure your happy to get paint on ANYTHING you don’t tape up - Don’t do it on a windy day ---Quote--- 8 do you mind sharing what it cost you to do yourself (dollars and hours)? ---End Quote--- The biggest cost in time is in the prep always. The painting is nothing from a time perspective. Its a hard question to answer from a time point of view as it depends on the surface. This house had not been painted for about 40 years and it had paint falling of it. This means that I need to spend more time ensuring that I removed all the flaky stuff. Which I did with a scraper. This is hard work and takes a long time. If the surface is sound you can wash it down with Sugar soap and start painting. I then brushed on an oil-based primer which I recommend. It helps to seal the exposed wood and penetrates what’s there. I used 20lts of trade coat at about $85 per 10lt tin from Bunnings top coat was an acrylic. Not sure on the price off hand I think around a few hundred dollars about $300 I think. - Gun hire $130 per day. Only needed one day - Then there is tressle hire which can be costly as you need it the whole way through. This will be my biggest expense - And all the other bits brushes, other primers for example metal primer for exposed metal and costs for repairs etc Once you add it all up though its much cheaper than getting someone to do it. The roof costed about 350 to do. That’s pretty good I reckon. When I think it has added a few thousand dollars. Now that I have done it I realise it was a must. The prep work on the roof is hard going as your in the sun and your literally scrubbing often on your hands an knees. Again it comes down to the surface. If there is no surface rust or cracked paint then no probs. I had lots of surface rust, virtually all of it. You also need to keep your wits about you as your up high. I think I spent about 10 hours scrubbing it. Also need to use a mask. Rolling it also takes time I did 90% of the house 1 coat in a day. I took some pics of the roof I will put them up once I get the time. Cheers, Panda Sorry for all my typos and bad grammar in the previous post (makes for a good laugh though :p ).


knightm,
Quote:
1 What repairs did you do?
There were lots of roof nails where the tops had fallen off. I pulled allot of these out and replaced them. I also filled a few small holes with a paintable sealer. I also put new roof nails in a few places where some sheeting needed reinforcement.

Quote:
2 Is the penetrol a rust inhibitor? (good idea to use the weed thing btw, but I dunno why anyone would want to dispense weeds? )
Penetrol is an oil based primer and surface conditioner. It helps bond paint down hard to the surface. I spoke to a fair few people including a roofing company and they all use it on the tin roofs. You can also add it to your paint (oil based only ofcourse) and it makes the paint so smooth. I added some to my oil based undercoat used on the weatherboards.

If you are going a gloss enamel topcoat on your windows for instance, you can mix some of this in and it makes the finish nice and smooth.


Quote:
5 If the paint shop wont allow enamel, what paint would one normally use if spraying - is external acrylic used for roofs?
I think there are acrylic based roof paints. If you were going that way you could use an airless. Or you could use an airless with enamel paint.

The airless spray guns are great for large interior and exterior surfaces. I have used them in the past on interior and as mentioned exterior. Normally you would not be using an oil based for walls in or out.



Quote:
6 Good to hear the gun worked, any tips for using that? What did you have to mask (other than windows)? And how much does the paint get on everything else?
The over spray is not that bad, its more something you worry about but when you actually do it realise its not a huge deal. However, you need to be careful. With acrylic based paint over spray will dry in the air so there is less of a risk. Enamel based is a different story it takes longer to dry so the over spray can be still wet when it lands on the neighbors car.

I’m lucky on this one as I only have one neighbor and every one else is across the road. I parked my car infront of the houses across the road as a show of faith. Didn’t get a spec on it. For my neighbor I organised it with her. I covered her car with 4 drop sheets first and was careful with over spray reaching her house.

The best tip I have for the gun is spend time getting the pressure right. This is so important. If it’s too strong you will literally go through buckets and buckets of paint ($). You will normally go through more paint than if you were rolling/brushing when using a gun. However, if you get your pressure correct then this does not have to be the case. I used only 1 litre extra on the walls than the coverage specified on the tin. I was really wrapped with that. One other time I did an interior and used way too much paint. So it’s the pressure.

Other tips,
- Dont put you hand in front of the nozzle. Although its not massive pressure it still pushes it out.
- I use some disposable overalls that also covers you head, a pair of sunnies and a p2 disposable mask. You probably don’t need a p2, but I use those ones for everything I do. They are the ones that people use for lead and asbestos
- If you are doing the outside make sure you get a considerable size machine with tones of hose
- Recommend doing the eaves the same colours as the walls for exterior and wall and ceiling colour the same for interior
- My windows need allot of work so I just taped up the whole frame
- I got over spray on the roof in four places due parts of the walls extending into the roof. I did the roof after the walls. A little back the front but I had other reasons for needing to do that. Very little over spray.
- I did it by myself, moving scaffold around etc. If you had a second person you can reduce over spray by getting them to hold a big piece of cardboard in places
- Also another trick is start at one wall an go to the end then stop leave the scaffold give it 15 mins and if dryish wack on your second coat. This way you don’t need to go around the whole house twice
- nothing else needed taping up. However, you need to make sure your happy to get paint on ANYTHING you don’t tape up
- Don’t do it on a windy day


Quote:
8 do you mind sharing what it cost you to do yourself (dollars and hours)?
The biggest cost in time is in the prep always. The painting is nothing from a time perspective. Its a hard question to answer from a time point of view as it depends on the surface. This house had not been painted for about 40 years and it had paint falling of it. This means that I need to spend more time ensuring that I removed all the flaky stuff. Which I did with a scraper. This is hard work and takes a long time. If the surface is sound you can wash it down with Sugar soap and start painting.

I then brushed on an oil-based primer which I recommend. It helps to seal the exposed wood and penetrates what’s there. I used 20lts of trade coat at about $85 per 10lt tin from Bunnings

top coat was an acrylic. Not sure on the price off hand I think around a few hundred dollars about $300 I think.
- Gun hire $130 per day. Only needed one day
- Then there is tressle hire which can be costly as you need it the whole way through. This will be my biggest expense
- And all the other bits brushes, other primers for example metal primer for exposed metal and costs for repairs etc

Once you add it all up though its much cheaper than getting someone to do it.

The roof costed about 350 to do. That’s pretty good I reckon. When I think it has added a few thousand dollars. Now that I have done it I realise it was a must. The prep work on the roof is hard going as your in the sun and your literally scrubbing often on your hands an knees. Again it comes down to the surface. If there is no surface rust or cracked paint then no probs. I had lots of surface rust, virtually all of it.

You also need to keep your wits about you as your up high. I think I spent about 10 hours scrubbing it. Also need to use a mask. Rolling it also takes time I did 90% of the house 1 coat in a day.

I took some pics of the roof I will put them up once I get the time.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21531#post168974 Painting a roof http://www.somersoft.com/forums/showthread.php?t=21531#post168953 Thu, 08 Sep 2005 00:52:59 GMT hahahahaha.....

Yeah I can say that kids and renovating are certainly two excellent examples of industrial strength "rest killers"

:D ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21531#post168953 Owner builder for a relocatable home - once every 5 years ???? http://www.somersoft.com/forums/showthread.php?t=22122#post168897 Wed, 07 Sep 2005 10:39:38 GMT Im not sure why he needs the owner/builders course as its not actaully him thats moving the house its the company that he has employed to do it. If he is doing the reno works then I suppose thats different. But I am surprised on the comment

Quote:
To get the house put onto the block required him to do an owner/builders course (the house will be an IP) - and you can only do this type of "development" once every 5 years
Im no expert but I thought that the owner builder is for carried out work that you do yourself?

Yeah 40K is a good deal for that too. I've got a quote recently for moving a house up and over about 6 meters and that was about 25k from memory. Not including electrical and plumbing.


Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=22122#post168897 Painting a roof http://www.somersoft.com/forums/showthread.php?t=21531#post168894 Wed, 07 Sep 2005 10:30:12 GMT Well I didn’t head the advice and painted the roof anyway :) I ended up using a corrugated shaped wire brush and a hand brush. Its a fair size roof so brushing it down took me a while and was hard work. I did some repairs while I was at it. After I had finished the brushing I washed it down and then applied the Penotrol with a garden weed dispenser that I bought for about $9 on special at Bunnings. I recommend using that. I used an industrial silver paint with rest killer stuff in it and applied that with a corrugated roller. This worked really well, however, I bought the small roller that has only three corrugations. I think the larger ones might have the trouble that was posted about. Also the smaller one you have good control over. Its amazing the difference. It has made to the place. If you can spray, I would do that definitely. I would go an airless spray gun if possible. I had already bought the roller and I was a little paranoid about over spray with an enamel based paint and the paint shop wont allow enamel through their gun anyway. So I rolled. I used an airless spray gun for the exterior walls though. Its a fairly big house and goes up 16 feet. I got 2 coats on in just over half a day. I used a big gun with 100 odd foot of hose and the one where the feed drops straight into your tin of paint. This meant that I just set it up in the shade under the house and off I went. I took the wall colour right up and included the eaves so that’s walls and eaves done. :) After doing the roof I think it would be worth getting one of the $850 jobs if you had a good condition roof. But mine had allot of surface rust on it and I’m glad I did it because I gave it some much needed attention. Cheers, Panda Well I didn’t head the advice and painted the roof anyway :)

I ended up using a corrugated shaped wire brush and a hand brush. Its a fair size roof so brushing it down took me a while and was hard work. I did some repairs while I was at it.

After I had finished the brushing I washed it down and then applied the Penotrol with a garden weed dispenser that I bought for about $9 on special at Bunnings. I recommend using that.

I used an industrial silver paint with rest killer stuff in it and applied that with a corrugated roller. This worked really well, however, I bought the small roller that has only three corrugations. I think the larger ones might have the trouble that was posted about. Also the smaller one you have good control over.

Its amazing the difference. It has made to the place.

If you can spray, I would do that definitely. I would go an airless spray gun if possible. I had already bought the roller and I was a little paranoid about over spray with an enamel based paint and the paint shop wont allow enamel through their gun anyway. So I rolled.

I used an airless spray gun for the exterior walls though. Its a fairly big house and goes up 16 feet. I got 2 coats on in just over half a day. I used a big gun with 100 odd foot of hose and the one where the feed drops straight into your tin of paint. This meant that I just set it up in the shade under the house and off I went.

I took the wall colour right up and included the eaves so that’s walls and eaves done. :)

After doing the roof I think it would be worth getting one of the $850 jobs if you had a good condition roof. But mine had allot of surface rust on it and I’m glad I did it because I gave it some much needed attention.

Cheers,
Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21531#post168894 Web sites and affiliates http://www.somersoft.com/forums/showthread.php?t=21917#post166982 Wed, 24 Aug 2005 03:49:41 GMT Hi all, Has anyone ever created a web site that has affiliates on it? I was just wondering what your experience was. I have been considering looking into this and was wondering about it. Also any good links to forums or information sites about it would be appreciated. Cheers, Panda Hi all,
Has anyone ever created a web site that has affiliates on it? I was just wondering what your experience was. I have been considering looking into this and was wondering about it.

Also any good links to forums or information sites about it would be appreciated.



Cheers,
Panda ]]> Coffee Lounge Panda http://www.somersoft.com/forums/showthread.php?t=21917#post166982 What are your reno tactics? http://www.somersoft.com/forums/showthread.php?t=21447#post166892 Tue, 23 Aug 2005 09:12:24 GMT Great stuff Wessy. Cheers, Panda :) Great stuff Wessy.

Cheers,
Panda :) ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21447#post166892 What are your reno tactics? http://www.somersoft.com/forums/showthread.php?t=21447#post166837 Tue, 23 Aug 2005 03:56:31 GMT Wouldn’t it make more sense to buy as the next boom emerges as apposed to over exposing yourself while the market is flat and then holding on for who knows how long?

I think maxing your self out with negative geared properties can be a good strategy while the market is in the boom part of the cycle. However, while the market is flat I'm not sure where the money is to be made.

An argument apposing this could be that the time period from the time of purchase leading up to the boom may see you achieve some growth. However, "how long" and "how much"? Meaning how long do you need to hold these properties until the boom kicks in and how much will it cost you to hold?

It may be worth investing your money for a better return through the flat cycle and then jump in as the boom emerges or jump in when the market totally bottoms out and pick up some bargains and then buy as the market picks up and then hold

- If your not expecting to make money out of the market for some time (i.e. in this case capital gain) then why invest for capital gain now? Why not invest for capital gain when you expect to get it? I suppose a variation on this rule is picking up a bargain where you buy simply because its a bargain and it wont be there tomorrow

- Maybe the market will boom tomorrow maybe it wont. I wonder if it is best to invest for the prevailing market conditions today as apposed to against them. I tend to think the former.

Panda ]]> Adding Value Panda http://www.somersoft.com/forums/showthread.php?t=21447#post166837 should i hold or sell with loss?? http://www.somersoft.com/forums/showthread.php?t=21826#post166094 Wed, 17 Aug 2005 09:22:07 GMT It is true that the property will probably grow in value given enough time. However, by how much and by when? If you cant answer these questions then your taking a fingers crossed approach to investing as apposed to any skill or a plan. I believe that if one continues to rely on luck then that persons chances of success are significantly diminished. One thing that I do that helps me cut through all the stuff and confusion when I’m faced with something Im finding hard to work out (often because emotion is involved) is that I reduce it to a single question, and that is, How is this bringing me to my goal? I have a specific goal that I am moving towards. The truth is black and white. Something is either getting you there or it is not. If its not, it has no place. Normally I see within a second, after asking this question weather its helping me or hindering me. To some that may sound like psycho mumbo jumbo, but it seriously works for me. Of course you need to work the goal out first. So you can ask the question. But then if you don’t know where you want to get to, or where your going, then a loss making property will probably get you there fine. Panda It is true that the property will probably grow in value given enough time. However, by how much and by when? If you cant answer these questions then your taking a fingers crossed approach to investing as apposed to any skill or a plan.

I believe that if one continues to rely on luck then that persons chances of success are significantly diminished.

One thing that I do that helps me cut through all the stuff and confusion when I’m faced with something Im finding hard to work out (often because emotion is involved) is that I reduce it to a single question, and that is,

How is this bringing me to my goal?

I have a specific goal that I am moving towards. The truth is black and white. Something is either getting you there or it is not. If its not, it has no place.


Normally I see within a second, after asking this question weather its helping me or hindering me.

To some that may sound like psycho mumbo jumbo, but it seriously works for me. Of course you need to work the goal out first. So you can ask the question.

But then if you don’t know where you want to get to, or where your going, then a loss making property will probably get you there fine.


Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=21826#post166094 IP Deposit Gathering... http://www.somersoft.com/forums/showthread.php?t=21828#post165967 Tue, 16 Aug 2005 12:21:46 GMT Another name for this is called "churning". Apparently, it can be damaging to your credit report though as you end up with tones of loan applications on the report. In saying this I did a similar thing recently. I had a card with a bit owing on it and rather than paying out the higher rate I transferred it over.
The bank made a mistake with my card transfer and it never went through. Once they realized they sent me a cheque :D

Which I cashed and then went and did the transfer with a different bank. Effectively getting a loan of 6k on 0% interest for 6 months. :cool:

It was all above board as I said to the bank manager that if they send me a cheque I'll cash it.

Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=21828#post165967 should i hold or sell with loss?? http://www.somersoft.com/forums/showthread.php?t=21826#post165838 Mon, 15 Aug 2005 13:24:42 GMT This is just my opinion. - Sit down with a professional and get proper advice - Exhaust every avenue you and any one else can think of - Reduce it to numbers. Get rid of all the emotion. The best thing might be to take a hit, but if you are emotionally caught up then you may not see it - You need to make the end decision in my opinion. The reason is that you need to get the lesson. Believe me the lesson is worth something. I went into a business once that went pear shaped and I lost some money and found myself in debt. I was running around trying to put out the fires until one day I realized that I needed to take the hit, as I was digging a larger hole for myself. I took the loss and I really learnt a number of lessons. I’m not saying that you should take a loss. This is not advice at all, this is just my opinion. There are many examples of people who have lost money before they made it. Good luck with it. Panda This is just my opinion.

- Sit down with a professional and get proper advice
- Exhaust every avenue you and any one else can think of
- Reduce it to numbers. Get rid of all the emotion. The best thing might be to take a hit, but if you are emotionally caught up then you may not see it
- You need to make the end decision in my opinion. The reason is that you need to get the lesson. Believe me the lesson is worth something.


I went into a business once that went pear shaped and I lost some money and found myself in debt. I was running around trying to put out the fires until one day I realized that I needed to take the hit, as I was digging a larger hole for myself. I took the loss and I really learnt a number of lessons.

I’m not saying that you should take a loss. This is not advice at all, this is just my opinion. There are many examples of people who have lost money before they made it.

Good luck with it.

Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=21826#post165838 IP Deposit Gathering... http://www.somersoft.com/forums/showthread.php?t=21828#post165831 Mon, 15 Aug 2005 12:57:32 GMT By the way I dont mean to preume that you are saving for your first property. Panda By the way I dont mean to preume that you are saving for your first property.

Panda ]]> Property Investment - Other Panda http://www.somersoft.com/forums/showthread.php?t=21828#post165831