Members & Visitors Online Right Now: 75
  • Benny replied to the topic Online valuation tools in the forum Help Needed! 5 hours, 11 minutes ago

    Hi Simon,
    Can I just get my broker to send out the valuers to the IP in 6 months and expect another wide range of numbers and just go with the highest for a refinance to go again?
    WOULDN’T that be nice !! :p Unfortunately there are or two points that you need to consider.

    When wanting to have a property valued to be able to withdraw some…[Read more]

  • Benny replied to the topic Keep, sell, develop or something else? in the forum Help Needed! 1 day, 9 hours ago

    Hi bbinvest,

    According to realestate.com the median for a 3 bedder is around $400k. Check this out (if the link worked) as it gives details on just HOW the median has been calculated:-

    https://www.realestate.com.au/neighbourhoods/cooranbong-2265-nsw

    Note that 4 bedders get nearer to the $500k mark.

    Benny

  • Benny replied to the topic Keep, sell, develop or something else? in the forum Help Needed! 1 day, 9 hours ago

    Hi bbinvest,

    According to realestate.com the median for a 3 bedder is around $400k. Check this out (if the link worked) as it gives details on just HOW the median has been calculated:-

    https://www.realestate.com.au/neighbourhoods/cooranbong-2265-nsw

    then click where it says “How this was calculated & copyright information” to see how they…[Read more]

  • Benny replied to the topic LMI in the forum Help Needed! 2 days, 8 hours ago

    Hi Simon,
    Or do you think it’s better to cop a few extra thousand on the loan to keep the cash in your pocket, specifically for renovations?
    Short answer is “Yes!” – the risk level rises a bit, but a good reno uplifts the Equity, and likely allows an increased rental too. An extra few thousand of LMI costs little on a week-to-week basis. e.g.…[Read more]

  • Benny replied to the topic Validation on Costing for Property Flip (QLD) in the forum Help Needed! 4 days, 7 hours ago

    Hi Greg,

    With a quick look, I would think you would want to do better than to add just $25k in Equity for $20k spent on renovations. The usual “rule of thumb” is to aim for doubling the money spent on a reno – i.e. spend $20k, but add at least $40k in value.

    See, the fact that you appear to buying well (buying a $250k place for $220k)…[Read more]

  • Benny replied to the topic Validation on Costing for Property Flip (QLD) in the forum Help Needed! 4 days, 7 hours ago

    Hi Greg,

    With a quick look, I would think you would want to do better than to add just $25k in Equity for $20k spent on renovations. The usual “rule of thumb” is to aim for doubling the money spent on a reno – i.e. spend $20k, but add at least $40k in value.

    See, the fact that you appear to be buying well (buying a $250k place for $220k)…[Read more]

  • Benny replied to the topic Levies have not paid on time, huge interest rate and debt recovery fee charge in the forum Help Needed! 5 days, 3 hours ago

    Hmm, OK – could you share then just where a FOS limits are?

    I thought they would go into bat for a “David” versus any Goliath who was playing hardball!! Not so?

    Benny

  • Benny replied to the topic Levies have not paid on time, huge interest rate and debt recovery fee charge in the forum Help Needed! 5 days, 10 hours ago

    Hi Andrew,

    I don’t know much luck you might have, but a Financial Ombudsman might be worth contacting to put your case, then see what they can recommend. Their role is to fix disputes…

    Simply Google those two words and choose the one that seems right for your situation,

    Benny

  • Benny replied to the topic Levies have not paid on time, huge interest rate and debt recovery fee charge in the forum Help Needed! 5 days, 10 hours ago

    Hi Andrew,

    A Financial Ombudsman might be worth contacting to put your case, then see what they can recommend. Their role is to fix disputes…

    Simply Google those two words and choose the one that seems right for your situation,

    Benny

  • Benny replied to the topic Levies have not paid on time, huge interest rate and debt recovery fee charge in the forum Help Needed! 5 days, 10 hours ago

    Hi Andrew,

    A Financial Ombudsman might be worth contacting to put your case to them, then see what they recommend you do. Their role is to help with disputes…

    Simply Google those two words and choose the one that seems right for your situation,

    Benny

  • Benny replied to the topic Please help, unethical real estate agent in the forum Help Needed! 1 week ago

    Hi Tanner,

    We contacted him via a different number as another buyer to which he replied its available and scheduled a time for viewing …
    It might be interesting to do the same again, as another potential buyer, but start by quizzing the agent – i.e. How long has this place been on the market? What has the interest been like? Have there been…[Read more]

  • Benny replied to the topic Where to start 2.0 in the forum Help Needed! 1 week ago

    Hi ANnie,

    The answers will vary depending on the Council in which the property is. You would need to approach that Council and speak to a Town Planner, who should be able to guide you,

    Benny

  • Benny replied to the topic Where to start 2.0 in the forum Help Needed! 1 week ago

    Hi Annie,

    The answers will vary depending on the Council area in which the property is located. You would need to approach that Council and speak to a Town Planner, who should be able to guide you,

    Benny

  • Benny replied to the topic Where to start 2.0 in the forum Help Needed! 1 week ago

    Hi Simon,
    repairs are not tax delectable until a tenant is in?
    You gotta lurve “auto-correct” eh – it gives us regular snickers !! :p

    I have read that repairs are not tax deductible until a tenant is in? Is this correct?
    ….. (Just found the info, crap).

    Yeah, any repairs would be capitalised, and thus would only be recoverable as a…[Read more]

  • Benny replied to the topic Where to start 2.0 in the forum Help Needed! 1 week, 1 day ago

    Hi Simon,

    Sounds like it could have merit. Re things to check, apart from Building/Pest, do stop by the Local Council to ensure they are not planning on resuming the property any time soon. Also, swing by there at different times through the day and night to get a “feel” for the area. Is it full of barking dogs at night, or arguing…[Read more]

  • Benny replied to the topic Where to start 2.0 in the forum Help Needed! 1 week, 1 day ago

    Hi Simon,

    Sounds like it could have merit. Re things to check, apart from Building/Pest, do stop by the Local Council to ensure they are not planning on resuming the property any time soon. Also, swing by there at different times through the day and night to get a “feel” for the area. Is it full of barking dogs at night, or arguing couples,…[Read more]

  • Benny started the topic Poll: How do you think politicians or regulators should respond to the issue of housing affordability? in the forum Opinionated! 1 week, 4 days ago

    Hi all,

    This thread is for discussion of this poll. Please submit your vote and your thoughts on why!

    Benny

  • Benny started the topic Poll: How do you think politicians or regulators should respond to the issue of housing affordability? in the forum Opinionated! 1 week, 4 days ago

    Hi all,

    This thread is for discussion of this poll. Please submit your vote and your thoughts on why!

    Benny

  • Benny replied to the topic Planning your investment strategy? Start with your goal and work backwards. in the forum Help Needed! 2 weeks, 3 days ago

    Hi all,
    An old memory hit me the other day – I recalled it from my schooldays… A Maths teacher described a situation where a lake started to grow a weed – the weed was doubling its size daily, and had been growing in this lake for one year. The question posed to us asked “once the weed covers one quarter of the lake, how many days will pass…[Read more]

  • Benny replied to the topic Where to start? in the forum Help Needed! 2 weeks, 4 days ago

    Hi Simon,

    A few thoughts relating to your post – for your consideration:-
    1. Good to see you having a go at presenting the “numbers”. You are off to a good start, as the numbers are what make or break any investment.

    I would keep looking, for these reasons:-
    – Land 308m2 in an area of hi-density IP’s – the former kills any growth (give me…[Read more]

  • Load More
© 2001 - 2016 PropertyInvesting.com Pty Ltd, All Rights Reserved      Terms & Conditions | Privacy Policy
Member Login
Lost your password?
×
Register Free To Unlock Unrestricted Access To PropertyInvesting.com