I bought my next door and am in the process of doing some Renno. Both the blocks put together is 2024SQ with 40 Meter frontage. The street is slowly being bought by developers and 8 townhouses put on 2 blocks.
I bought a investment property and as the property was not occupied I asked for early access. The Vendor Solicitor said no probs if I took a Insurance and few conditions like no structural work, etc…. As I was only going to change some light fittling’s, paint, remove wall peper and other bits and pieces worked out well. Finished the work and…[Read more]
If I am not wrong it is
80% of 180K = $144000 (I think 80% of the value is what banks will consider)
Mortgage = $80000
Equity = $144000 – $80000 = $64000
Someone please correct me if I am wrong.
Auction is a great place to buy. There are plenty of Auctions held in Sydney on Sat and on week days. Get SYdney Morning Herald Sat paper and check the auction colum. You can get up to 50 – 70% off new furnitures.
If you can hang on to the property then do so because the cost/hassle of selling and buying another one will be too much than the extra $500 that you have to folk out monthly. End of the day you are the best person to judge your financial situation. Good luck with your decision.
That is what my PM said as well (I just bought a IP and is on the rental market for the past 2 days). If the tenents stay for more than a year and renew the lease then I am up for a weeks rent. Hope this helps.
Before the start of Auction you contact the auctioneer and tell him that you have a blank cheque or any other arrangements that you might have. That way they know before hand and less headaches for you if you are the successful bidder. Good luck in the auction …
Is this for Cylinder LPG gas or Piped Natural Gas. I connected Piped Natural gas from the street to my property in Sydney and AGL charged me $495. The plumber charged me a extra $1050 to plumb the pipe to the gas stove, Gas water heater and a point on the floor for gas heater. The house is a fibro with sub floor. Hope this helps.