I'm Doin' it!!

[RumpledElf]

Ah, this is the thread with the front-half-missing house.

There's a house kind of like this one just come up for sale in our area, thought of this thread when I saw it.

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=106042815

No windows on the front - how peculiar! Maybe it could be your next project

 

[wylie]

Nice kitchen

 

[battler]

Hi All, the carpet has been laid, the final inspection has happened and I've finished the hardest part of the whole job.....putting up the curtains.

Still have to paint some of the old part of the house and a few things outside.

 

[battler]

Hi All,
We've done a bit more this week, removing the old laundry and finishing the insulation and cladding across the back, put up new guttering and finishing the painting.

We removed the roof off the old back shed ( which is going to be demolished anyway for the dual occ), and built the garden shed for the existing house out of the materials. It was built on the concrete slab that I moved from the original front door.

When I get a copy of Dazz's lease I'm gunna rent the shed out as well.

 

[battler]

Hi All, Here on my own this week and wanted to put up the verandah which is a bit tricky on your own. I got the frame and guttering up today with a bit of help from my old front end loader.

Tomorrow I'll put the roofing and flashings on which will only leave me with the down pipe connection to the stormwater drain.

 

[Jann]

Hi Battler , have been watching your progress with great interest.You really seem to be a oneman band .You have made quite a difference from the early pics to now .I noted early that you did a brief breakdown on costings on a earlier post. Hope you are still on target
Cheers Jann

 

[battler]

I noted early that you did a brief breakdown on costings on a earlier post. Hope you are still on target

Jann, I'm under budget, I've got 2 sticks of 90*35, 1 length of hardieplank and 4 laserlite screws leftover.

I got the laserlite and flashings finished yesterday and will continue demolishing the old shed today.

 

[battler]

Hi all, I've demolished the shed, and got $100 for scrap iron which will pay for the dumping of the concrete.

We are on the home run.
The tractor and caravan are going home via the truck
Lots of tools are packed to be taken home also.

Still got a little interior painting to do in the original bedroom which I will move out of.
And need rain every day for 2 weeks so the grass will grow, which is not going to happen.

 

[battler]

A few more pics.

 

[Jann]

Hi Battler ,have been wondering how everything is going .home run must be a good feeling .Looks like quite a bit of equipment on the road home tomorrow .How soon before rental becomes available .
Cheers Jann

 

[vbplease]

Just a couple of pics of my home made sheet lifter, it is air operated and controlled with an old shower breech and tap set.

Hey Battler, great idea with the sheet lifter.. did this let you install all the boards by yourself? and is that a nail gun or a screw gun (if there is such a thing) hanging off the sheet lifter?

Looking forward to hearing what the new valuation will be

 

[battler]

Hi Vb, you really need two people to get the sheets on to it after 3m long, but will lift 6m sheets easily with extensions to the top frame.

We use a makita collated screw gun.

http://www.glenfords.com.au/detprod...s-cordless/makita-12v-auto-feed-screwgun.html

We probably won't bother getting a valuation as only interested in the income.

Jann, probably won't be available for rent untill after christmas, got a few things happening here (at home) at the moment.

 

[battler]

Hi all, we have completed our extension, except for the final moving out.

We had our agent give an appraisal for rent and we're looking at $190 pw and a no BS current sale price of 185k.

We spent 120k to buy, renovate and obtain DA approval for the second house.

I now have the dilemma of paying stamp duty again and transferring title to my wife, in order to get another owner builder permit, to finish this project or jump the border into NSW and build a second house on a property there, and then come back in a couple of years to complete this one, when I can get a permit back in Vic.

May be someone could tell me if those numbers are ok, Thanks.

 

[Propertunity]

May be someone could tell me if those numbers are ok

Spent $120K to get an end val of $185K - lloks like a good deal to me with a caveat - what did you value YOUR labour at? Once you take that out of the equation and you still have a positive number - then you are in front.

And as the old addage says, "you can't go broke making a profit".

Congrats on the build and for posting the progress on here so everyone can benefit.

 

[fokas]

Great thread! Thanks for sharing! What a handy man you are!

 

[Rixter]

Spent $120K to get an end val of $185K - lloks like a good deal to me with a caveat - what did you value YOUR labour at? Once you take that out of the equation and you still have a positive number - then you are in front.

Havent read the thread from the start but what was the property value before the $120k was spent?

 

[handyandy]

All looks fantastic

Its the packing up that is the most painful - where did all this stuff come from

We spend days moving when progressing onto the next set of units, at the moment we have about 9 full size garages full/partially full of stuffthat we are using on the current reno (7 units)

You deserve a rest over xmas so have a good one.

Cheers

 

[battler]

Havent read the thread from the start but what was the property value before the $120k was spent?

It was purchased for $90k, we spent $30k to extend and get DA approval for a second house at the rear.

The way I see it is that,

1) I doubled the value of it,

2) I doubled the rent return,

3) I gained a block with approval to build another one on.

4) It has cost me nothing in lost wages or other income as I am retired, and I see it is a tax freegain of $65k and extra $100 pw rent above where it started from.

 

[battler]

Thanks Handy Andy.

 

[Rixter]

It was purchased for $90k, we spent $30k to extend and get DA approval for a second house at the rear.

The way I see it is that,

1) I doubled the value of it,

2) I doubled the rent return,

3) I gained a block with approval to build another one on.

4) It has cost me nothing in lost wages or other income as I am retired, and I see it is a tax freegain of $65k and extra $100 pw rent above where it started from.

Brilliant stuff - well done.