I was contracted to build a second home ie, {dual occy} and after negotian of contracts, i asked the owner does the current tennents aware of this new home , he replie was, yes they are an old couple and they are very easy going!
I organised an opiontment with them and it turns out they are a young couple with two young children, betterstill they have known about the new property for about 2 days by now, they were not happy about this a threatend to do the tribunal thing, so forgoing $200 wk less in rent, and adding a new fence to the front of the yard, and bark some excavation, and a sail awning, this recieved the go ahead, i added 5k to the contract price , as an addion.
I was told to expect the first deposit on the 10 november, this was the official start time, i had spent the 5 k already on the front of the original home, so the tennents can give the ok to start.
As the project was to finish with a Cof O b4 the march 31 deadline all fund transfers were vitaly importand that they be recieved asap as to not slow down the project.
I recieved deposit on the 10 december, with a nudge to hurry up!
Their are no tradies available during this time and digging the footongs b4 xmass was redic, as their would be no concrete or steel in after jan 21 when they get back from hols.
January 25th the footings were in and the next invoiced amt was 10k and i added the 5k for the front works. these invoices in my in tray were clearly marked overdue!
The draw down took 3 wks longer, creating stress and slowing the works down.
i recieved the funds , payed my mortgage pmt, and as many of the accounts as possible.
Second stage was a disaster, the archetect, missed the FFL'S placing the garage .6 meter under the common/original drive, the numbers/sizes were not indicated, as the plumbers needed to place sewer, so incalling the archetect to visit the site. i discovered he fell of his horse, interstate, and broke 3 vertibetes in hos back
we discussed the issues and he asked me to make judgements, as its impossible for him to get to the job, explaining the heights were impossible to recover without changing the planned 2.7 mtr ceilings to the 2.4 mtr ceilings in the lounge room.
Ithem took another wk to get the slab placed anddue to the loss of time and other resorces, i invoiced for, the aggreed 40k at slab compleation.
Burning funds and that ever growing due now pile, i patiently waited for the release of funds, from inspection to placment to acct this took 3.5 weeks, i paid a mortgage payment {mine} and paid all those that patiently waited for their pay. needless to say the funds recieved were 6k short of the amt invoiced.
So i carried more added debt.
I pushed through, frames and windows, had added to the delay , an extra three weeks due to the height and slab issues earlier, frames and trusses rooftiles, and sarking{foil} was all placed,
One again the envelop of time was being streched to its limit, not recieving the last full drawdown made this difficult, and the time required to organise the next progress pment was getting close, i allow 3 weeks MAX! it realy should'nt take longer than that.
The brick layers layed the last brick for the dbl garage whilst holding out the other hand for payment, and so i explained the inspection was tomorrow there abouts, and the funds should get to you in a week , they were cool with this,
Sooo! i am going on to about my 5 week and the bank inspection took 2 wks to get their, the funds transfer has been approved, this was another two weeks, and the bank manager personally called me and said the funds will be in my acct in 24 hours
IT has now been 3 days and feeling so bad about the bricklayers i withdraw $200 from my Credit card, and gave them a cq and said i was told 24 hrs, and i will call you when its in???
Yesterday I Missed my first ever mortgage payment EVER!
The tray of over dues and phone calls come every day now, and at the same time the owner , although knows whats happening with the delayed drawdowns, still placees pressure on me to rush to the next stage??
And thats some of the other side!
i will keep you posted in part two.
I organised an opiontment with them and it turns out they are a young couple with two young children, betterstill they have known about the new property for about 2 days by now, they were not happy about this a threatend to do the tribunal thing, so forgoing $200 wk less in rent, and adding a new fence to the front of the yard, and bark some excavation, and a sail awning, this recieved the go ahead, i added 5k to the contract price , as an addion.
I was told to expect the first deposit on the 10 november, this was the official start time, i had spent the 5 k already on the front of the original home, so the tennents can give the ok to start.
As the project was to finish with a Cof O b4 the march 31 deadline all fund transfers were vitaly importand that they be recieved asap as to not slow down the project.
I recieved deposit on the 10 december, with a nudge to hurry up!
Their are no tradies available during this time and digging the footongs b4 xmass was redic, as their would be no concrete or steel in after jan 21 when they get back from hols.
January 25th the footings were in and the next invoiced amt was 10k and i added the 5k for the front works. these invoices in my in tray were clearly marked overdue!
The draw down took 3 wks longer, creating stress and slowing the works down.
i recieved the funds , payed my mortgage pmt, and as many of the accounts as possible.
Second stage was a disaster, the archetect, missed the FFL'S placing the garage .6 meter under the common/original drive, the numbers/sizes were not indicated, as the plumbers needed to place sewer, so incalling the archetect to visit the site. i discovered he fell of his horse, interstate, and broke 3 vertibetes in hos back
we discussed the issues and he asked me to make judgements, as its impossible for him to get to the job, explaining the heights were impossible to recover without changing the planned 2.7 mtr ceilings to the 2.4 mtr ceilings in the lounge room.Ithem took another wk to get the slab placed anddue to the loss of time and other resorces, i invoiced for, the aggreed 40k at slab compleation.
Burning funds and that ever growing due now pile, i patiently waited for the release of funds, from inspection to placment to acct this took 3.5 weeks, i paid a mortgage payment {mine} and paid all those that patiently waited for their pay. needless to say the funds recieved were 6k short of the amt invoiced.
So i carried more added debt.
I pushed through, frames and windows, had added to the delay , an extra three weeks due to the height and slab issues earlier, frames and trusses rooftiles, and sarking{foil} was all placed,
One again the envelop of time was being streched to its limit, not recieving the last full drawdown made this difficult, and the time required to organise the next progress pment was getting close, i allow 3 weeks MAX! it realy should'nt take longer than that.
The brick layers layed the last brick for the dbl garage whilst holding out the other hand for payment, and so i explained the inspection was tomorrow there abouts, and the funds should get to you in a week , they were cool with this,
Sooo! i am going on to about my 5 week and the bank inspection took 2 wks to get their, the funds transfer has been approved, this was another two weeks, and the bank manager personally called me and said the funds will be in my acct in 24 hours
IT has now been 3 days and feeling so bad about the bricklayers i withdraw $200 from my Credit card, and gave them a cq and said i was told 24 hrs, and i will call you when its in???
Yesterday I Missed my first ever mortgage payment EVER!
The tray of over dues and phone calls come every day now, and at the same time the owner , although knows whats happening with the delayed drawdowns, still placees pressure on me to rush to the next stage??
And thats some of the other side!
i will keep you posted in part two.
