Hi Lucy,
I know the name, but not the company, so I can add no value from personal experience. But, if you use Forum Search and input “Cashflow Capital” as the Search key, it will produce a number of threads that you can read.

This post…[Read more]

Hi Ozzy,

This is sounding more and more complex. I am with Ethan and Jamie – you need to sit down with someone (Broker or Bank Rep) to discuss your options. There are right ways and wrong ways to unwind all of this – you will want to do it the right way.

I hate to say it, but “most” bank people only have info re their end of things,…[Read more]

Hi Ozzy,

This is sounding more and more complex. I am with Ethan and Jamie – you need to sit down with someone (Broker or Bank Rep) to discuss your options. There are right ways and wrong ways to unwind all of this – you will want to do it the right way.

I hate to say it, but “most” bank people only have info re their end of things,…[Read more]

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]

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]

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

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…[Read more]

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]

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]

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

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

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

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

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 a…[Read more]

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

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

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]

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]

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]