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BanjoSmyth

  • Glad you liked it guys!Send the link to your friends and share the laughs!http://www.youtube.com/watch?v=yqkn1tviGMM

  • BanjoSmyth replied to the topic Tips for a 17 year old – Getting into property investing in the forum Help Needed! 15 years, 1 month ago

    wealth4life.com wrote:
    Seddar …The difference between the rich and poor is knowledge.

    I tend to disagree slightly – I believe The difference between the rich and poor is not Knowledge BUT the application of knowledge.I know plenty of people that told me the stock market was over priced a year and a half ago but how many of them took advantage…[Read more]

  • BanjoSmyth replied to the topic Seminars – a waste of time! in the forum Help Needed! 15 years, 6 months ago

    Hi mateI have had some really good experiences with seminars.I come from a family that knew nothing about investing so i found it really hard to find people who i could learn from and trust.  I purchased my first investment property 3 months after going to my first property seminar.  It definitely gave me the confidence and the skills to know i c…[Read more]

  • BanjoSmyth replied to the topic renovating for rents, renovating to sell – different priorities? in the forum Value Adding 15 years, 7 months ago

    Hi guysI think most things are pretty similar.The main differences would be bigger things that don't necessarily affect renters.eg.  structural, wear and tear on building, gutters, decking etc.On one hand its easier to please buyers because they  know that the can change it if they want to.  But at the moment renters can't really be to fussy :)Cheers…[Read more]

  • BanjoSmyth replied to the topic Rental Apprasial in the forum General Property 15 years, 7 months ago

    Hi KenzelYou definitely shouldn't be charged.It's always interesting to get 3-4 different appraisals and to see how they differ.  Even if you are planning on managing the house yourself you should still get multiple appraisals.  Make the real estate agents earn their money :)Cheers Banjo

  • BanjoSmyth replied to the topic First Home Owner in the forum Help Needed! 15 years, 8 months ago

    Hi MateCongratulations on being motivated at such a young age.The first thing to consider is the 'first home owners grant' (or whatever it is called these days :)If you buy an investment property you won't be able to claim the grant.  To make it worse when you do buy your first PPOR you won't be able to claim it either because you will have already…[Read more]

  • BanjoSmyth replied to the topic cold feet with timber floor? in the forum Help Needed! 15 years, 8 months ago

    Yes floor boars can be cold in winter but you can always put some rugs down.The great thing about floor boards is that you don't have to worry about stains etc like carpet.I think it comes down to personal choice. My prefernce is floor boards in living areas an carpet in the bedrooms.I love themodern look that floor boards bring!Good LuckBanjo

  • BanjoSmyth replied to the topic Which unit in a block is most valuable?? in the forum Help Needed! 15 years, 8 months ago

    Hi mateI guess i am a bit late with my response :)But i was going to suggest that you think about what direction they are facing?Getting the morning and afternoon sun in the right areas can make a huge difference to they feeling of a house.Cheers Banjo!ps best of luck with your 2 new properties!

  • BanjoSmyth replied to the topic acessing someone elses equity. in the forum Help Needed! 15 years, 8 months ago

    Hi mateSt George have a product called 'Family Pledge' Loan.You will need to look into the details but the basic deal is this.A family member who has equity in their property will go guarantor for the deposit on your new property.eg.  Lets say you wanted to buy a $300k property then your mum (in this case) would go guarantor for the $60k deposit…[Read more]

  • BanjoSmyth replied to the topic Where to start?? in the forum Value Adding 15 years, 8 months ago

    Hi tuggaBy the sounds of it you are planning to basically re do the kitchens but you can make a big improvement without doing too much damage.By simply redoing doing the – cupboard doors (you can normally sand and paint these – you can even get laminex paint these days)- stove, dishwasher etc – Bench tops (these are very easy to put on top of the…[Read more]

  • BanjoSmyth replied to the topic Managing your own properties in the forum Help Needed! 15 years, 8 months ago

    Hi tuggerwaughI manage my own properties and it is fairly easy to set up.  you will need to get a 'Residential Tenancy Agreement' and a Condition report but it is very easy to find them on the internet for under $50 (PM if you need any help finding a good site).  Organizing the bond couldn't be simpler, it literally takes a few minutes on the i…[Read more]

  • BanjoSmyth replied to the topic A lesson in tennants and property managers…… in the forum General Property 15 years, 8 months ago

    Another positive post from Scamp You should definitely get another agent!!! Don't mess around – Especially because you aren't close by to the properties!Cheers Banjo Smyth

  • BanjoSmyth replied to the topic Is it worth getting a second house? in the forum Help Needed! 15 years, 8 months ago

    Hi Jonasi think the strategy you are thinking of is as follows.What most real estate investors do is to try and build up a 'buffer zone' of equity.  In your case you have built up a buffer zone of $200k.  The next step would be to get a line of credit so that you have access to that money (you will only need to pay interest on this money if you a…[Read more]

  • BanjoSmyth replied to the topic vacant land vs house/unit in the forum Help Needed! 15 years, 8 months ago

    Hi guysI doubt you will get any tenants who are willing to pay to much rent for a block of land – Unless the own a swag :)The lack of income is clearly a huge factor.If you are simply a normal everyday investor I don't think you can go past a land/home package. I have heard of some more advanced strategies which basically involves buying land of the…[Read more]

  • BanjoSmyth replied to the topic To Sell Or Not To Sell? in the forum Help Needed! 15 years, 8 months ago

    Hi mateHow are you (or more importantly – how much longer do you intent to work for)?I would only be selling if you are getting close to retirement and looking at lowering your debt and repayments.  I assume you bought the properties will long term capital gains in mind so unless you are really worried about the current market conditions I would…[Read more]

  • BanjoSmyth replied to the topic Apartments in Hawthorn, Vic in the forum General Property 15 years, 9 months ago

    HiI think that a good quality 2 bedroom unit in hawthorn for under 300k would be a great Investment.The main problem would be finding something that ticks all the boxes but is still in your price range.  Let us know how you go.Best of luckCheers Banjo SMyth

  • BanjoSmyth replied to the topic cash positive unit in the forum Hi Wade
    Where is the
    15 years, 9 months ago

    Hi WadeWhere is the Property?There is nothing wrong with investing in a unit but it depends on where it is located.The general rule with negative and positive geared properties in Australia is that the negatively geared properties  = more capital growthpositively geared properties  = less capital growthObviously there are some exceptions, but y…[Read more]

  • BanjoSmyth replied to the topic Floor in addition is 2.5 in. higher that floor in living room. in the forum Value Adding 15 years, 9 months ago

    Hi HelenIs there a doorway between the rooms? Or have you knocked out a wall and there is a 2.5 inch drop for the whole 12ft?I think a really nice reducer would probably be the best bet (sometimes they can look a bit tacky – but if done well they are great)There is nothing wrong with a little step butl it may become a bit of a trip hazard?Good…[Read more]

  • BanjoSmyth replied to the topic Too adventurous or not in the forum General Property 15 years, 9 months ago

    Hi mateWhen increasing your property portfolio it is vital that you have created a buffer zone.  For whatever reason be it injury, illness downturn in the market.  Remember if you only loose real money when you are forced to actually sell the property, so if you have created a big enough buffer to withstand a market drop you should be fine in t…[Read more]

  • BanjoSmyth replied to the topic Live off Equity ? in the forum General Property 15 years, 9 months ago

    Hi ErikCongratulations a a great effort.  Its most peoples dream to won a property portfolio and you have actually achieved it!!From reading your post it seems like you answered your own question.  Hold on to as many as possible and start searching for the best way to refinance.  With a little outside the square thinking I'm sure you will be ab…[Read more]

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BanjoSmyth

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