I'm with evand.
Take that BA to court for his fees refund, repairs and court/legal fees.
Take that BA to court for his fees refund, repairs and court/legal fees.
Purchased a Dud, what would you do?
- Thread starter stephenb465
- Start date
Just looking at those plans,you could always try 4-6 cubic mts of gravel
and have a bobcat spread it over the lower back yard section and see if that makes it any more workable,if it is a low flood prone area just make sure you are covered for flood..
correction on my numbers
I just looked at my number again and read something wrong.
Cost after income and expense
2010 $13,400 (which included $5800 BA, and borrowing cost $3,500) Paid retainer of BA in 2009
2011 $15,990 ( Replace aircon and electrical work, borrowing cost $3,500)
2012 $8,500 (Borrow cost $3,500, new oven soon)
Would love to take the BA to court, but at the end of the day, I agreed to it and I signed the dotted line
I have visit the property, but it was nice and dry day and didn't see any flood problems, however, I could see where the water was coming from, all the neighbors have higher land compared to mine, therefore all excessive rain water heads down hill and come into my property. I have had a couple of quotes, 10k to fix the problems and this includes a electrical pump to pump the water out of the pit up to the road drain. I did suggest a sock-well, but dealing with Property managers can be challenge.
At this stage I haven't done any work on the drainage, maybe I should look into it when I get a new tenants, the existing tenant wanted two weeks rent free if I did the work, they said it would disturb there lifestyle
But at the moment, I'm putting as much money as I can in the offset account to reduce the interest cost, and get the property to a positive gearing. Seems to me I'll loose too much if I sell at the moment, if I knew I could make money by selling at a loss then re-enter the market and purchase a very good deal, I would probable do it. But the problem is that I'm working overseas and spend very little time in Australia
I just looked at my number again and read something wrong.
Cost after income and expense
2010 $13,400 (which included $5800 BA, and borrowing cost $3,500) Paid retainer of BA in 2009
2011 $15,990 ( Replace aircon and electrical work, borrowing cost $3,500)
2012 $8,500 (Borrow cost $3,500, new oven soon)
Would love to take the BA to court, but at the end of the day, I agreed to it and I signed the dotted line
I have visit the property, but it was nice and dry day and didn't see any flood problems, however, I could see where the water was coming from, all the neighbors have higher land compared to mine, therefore all excessive rain water heads down hill and come into my property. I have had a couple of quotes, 10k to fix the problems and this includes a electrical pump to pump the water out of the pit up to the road drain. I did suggest a sock-well, but dealing with Property managers can be challenge.
At this stage I haven't done any work on the drainage, maybe I should look into it when I get a new tenants, the existing tenant wanted two weeks rent free if I did the work, they said it would disturb there lifestyle
But at the moment, I'm putting as much money as I can in the offset account to reduce the interest cost, and get the property to a positive gearing. Seems to me I'll loose too much if I sell at the moment, if I knew I could make money by selling at a loss then re-enter the market and purchase a very good deal, I would probable do it. But the problem is that I'm working overseas and spend very little time in Australia
