Remotely renovating for profit ? possible?

Is anyone successfully using a buy/renovate/sell strategy to make consistent profits, but doing so remotely? In other words:

1. Using a buyers agent to source properties at a discount with value add potential. Specifically properties that would benefit from cosmetic renovation without the need for structural changes. This isn't as simple as just buying any old rundown property. Experience is needed to know which areas, streets and property types provide the best returns for cosmetic renos.

2. Engaging a renovation specialist to:
a) design the interior and exterior work that will deliver the most value for a specified budget (eg no more than 10% of the purchase price)
b) arrange labour and materials
c) project manage the job to completion
d) stage the renovated property to maximise impact and sale price

Or is it unrealistic for a remotely-managed flipping strategy of this kind to succeed due to the added costs of the buyers agent and renovation specialist?

Can anyone recommend any companies who are helping their clients succeed with this strategy?

Thanks in advance ...

Remotely renovating for profit ? possible?

Aussie slang

Was chatting to a friend on our unique language, and what would/should be included in dictionary, a must

Bogan .. Of course...... What else????

Aussie slang

Tenant just sms to cancel viewing Sat morning

My IP is in WA. Last Friday tenant gave me 13 days notice that she was breaking lease and moving out.
On Wednesday I sms her (no email address) to confirm Sat 10am viewing ok. She said yes.
Advertised and have prospects ready to inspect.
11 hours to go and she sms me to cancel and say she wasnt ready so was canning the open.

On the Dept of Commerce, rights of entry say lessors can enter for Opens if they are within the 21 days from vacancy and have given reasonable notice in writing (SMS is acceptable writing I understand) and the tenant gives their consent. She even said verbally to let myself in with the key.
The timing of the open was totally within the guidelines.

I sms back and said I was turning up with 3 prospectives (and reminded her that I was allowing her to break lease and I needed her help to get it relet as soon as possible). She hasn't replied and could easily play dumb tomorrow.

Has anyone had any practical experience of turning up on the day and being told not to enter?

Tenant just sms to cancel viewing Sat morning

Tradies - who decides which one?

A tenant reported a non-urgent repair to the PM and I was contacted about this. The agent said that tradies normally contact the tenant to sort out dates and times of access, and if the tradie can use the PM's keys. As this is a non-urgent repair I'd like to have the tradie attend on a weekday and in business hours. In the past, the tenant has wanted to be there when a tradie attended.

I'm not sure what my rights and obligations as a LL are in this respect. I think I can select the tradie and after having given 24 hours notice, perhaps longer, and then have the job done at a date and time of the tradie's choosing. I'd like to lock I this to one day and a morning or afternoon.

It's made more complicated by the tenant who for reasons that are unclear does not like one of my tradies. I'm considering using this bloke as he does a good job for a fair price and has assisted me on three renos, or vice versa. Can I say that this is my tradie, and if you do not like him, tough? At the same time I want to preserve good LL-tenant relations. The tenant pays about 13 days late months, just on the edge of eviction, and some payment cheques have bounced.

Tradies - who decides which one?

Bidding for a family member in auction

Hi
If I want to bid for my wife/son who will not be present during the auction (as it is the regional area) what needs to be done?
1. Do i need the proxy form (I searched over and couldn't find any).
2. Or the power of attorney?

Can someone help and forward me the link where i can download this form?

Regards
Velli

Bidding for a family member in auction

Anyone made fast equity and want to tell the story

Looking to write a story on someone who's used a strategy (i.e. not luck or lotto) to build $1 million in equity quickly - all the tips, tricks and traps.

Drop me a line if you're interested.

Anyone made fast equity and want to tell the story

Cost of managing tax affairs - what about my time?

In regards to the cost of managing tax affairs, in the past I have just used my accountant fees.

As the time it takes to meet government tax compliance increases more and more each year, this year I had to take two days off to gather all the data and do all the ringing around, calculations and Excel spread sheeting to do my return. As an IT contractor this cost me two days not earning my regular income to do this.

My accountant tells me I cannot claim my time (or opportunity cost).

What do people think about this?

Cost of managing tax affairs - what about my time?