Hi Smally,

Welcome aboard – I hope you find your visits here useful in every way.

I have been looking around for my first investment property.
This is all very daunting and I don’t know which way to turn when looking on line.

Given that second line, I wanted to attempt to “bring you down to earth”. That is to say, WHAT are you looking to b…[Read more]

Hi Chat,
Awesome to see you working it through. Your diligence is going to pay you handsome dividends, so do keep it up.

To your concerns :-

1. My fear is that once this interest only period ends – the bottom has fallen out.

Good thought – now check things out to see if “the end of an IO period” is actually THE END – hint, there are w…[Read more]

Hi Barlow,
Terry’s idea is (I think) a good one – call your lender and ask for the “Break Cost” of your Fixed Loan (but be sitting down when they tell you – ;)

The Break Cost increases as the difference between Fixed and Variable increases (and there has been a 0.5% drop in the Cash Rate in the last 12 months – which may or may not have…[Read more]

Hi Coogee,
As Jamie said, asbestos is still quite common. The places where yours was found are in quite inaccessible areas – i.e. inaccessible to most people.

Where asbestos is so dangerous is where a youngster might “play” – digging at walls with sharp objects, etc before they are old enough to know “Don’t do that!” In your case, the…[Read more]

Hi Chat,
In my understanding, any cash withdrawals from a credit card are an IMMEDIATE instigator of Interest, and often at a higher rate than other purchases. e.g. a credit card might have a 17.9% rate for purchases, but a 27.9% rate for cash !!! It bites, so I am glad you asked first – but don’t just take my word for it – check that I am…[Read more]

Hi JJ,

Stegbar installed the glass windows and doors to my property but they were not been paid by the original builder

I don’t KNOW, but I would think QBCC should be able to do something here – aren’t they “taking over” to basically make good what the first builder did/didn’t do? I would think that would include making payments to those…[Read more]

Hi Corey,

It’s related to building work over a certain threshold ($12,000 if I remember correctly), as per norm.

Ah, thanks mate !! Yes, that does sound like “as per normal”. I have turned off the pacemaker now….. ;)

Benny

Thanks for all of you who have added your thoughts above. What a huge selection of positive comments after what sounded like a huge effort on everyone’s part, whether a presenter or an attendee.

Just reading this thread has fired me up – but “being there” would mean so much more. I must make the effort to get to Melbourne if this were…[Read more]

Hi Xenia,
Wow !! After a bit of a look, it seems to indicate that if I was a landlord in SA, I cannot paint my own IP, nor replace a broken paling in a fence, and I think it also mentions Paving, so I can’t fix a broken paver….

I sincerely hope that no other State Govts are thinking of following their lead!! The quote “Bureaucracy gone…[Read more]

Hi SM,

It’s in a large block of 200+ high rise and It’s not due to be completed for about 2.5 years

This sounds like the kind of property that they sell to overseas buyers. Could that be a market for you? Maybe approach Ironfish to see if :-
a) This can be onsold by them to an overseas buyer, or
b) Can you onsell it to someone else, and if so,…[Read more]

Hi SM,

It’s in a large block of 200+ high rise and It’s not due to be completed for about 2.5 years

This sounds like the kind of property that they sell to overseas buyers. Could that be a market for you? Maybe approach Ironfish to see if :-
a) This can be onsold by them to an overseas buyer, or
b) Can you onsell it to someone else, and if so,…[Read more]

Hi SM,

It’s in a large block of 200+ high rise and It’s not due to be completed for about 2.5 years

This sounds like the kind of property that they sell to overseas buyers. Could that be a market for you? Maybe approach Ironfish to see if :-
a) This can be onsold by them to an overseas buyer, or
b) Can you onsell it to someone else, and if so,…[Read more]

Hi Dean,
Hopefully, this will be a temporary halt. Here’s the thread that had us looking at the current “5 star system”.
https://www.propertyinvesting.com/topic/5016527-renovation-advice-companies/#post-5017000

My post finishes the story, but read back a bit to see what went on,
Benny

Hi VeeR,

Your descriptions sounded like a thread we had on here a few months ago, so I went looking :-
https://www.propertyinvesting.com/topic/4399106-uretek-anyone-used-it/

If you go to the Forum pages, use “underpin” as the keyword and press Search, you will have a number of threads pop up. The one above is the one I remembered, but there…[Read more]

Hi Barlow,
The answer would change too, depending on just WHERE you are looking to buy. If wanting to “Time” the market, then a look at the Property Cycle for the area you are purchasing would give a broad-brush indication of “Buy or Don’t Buy”.

Re your comment “possible lowering of asset prices as supply is starting to overwhelm demand” -…[Read more]

Hi Liam,

What if i just buy 15 properties, all cheapies, all in high yield areas.

Maybe something like this bloke did?
https://www.propertyinvesting.com/topic/4410441-thankyou-steve-mcknight/

His were all cheapies in high yield areas – and then he forced some equity by renovating in some instances. Could it be done today? Hmm, I would…[Read more]

Hi @knightm,

I don’t know if the like system can be challenged or removed when used inappropriately?

Well, as promised, I went looking and asking. Initial enquiries were not looking good, so Admin went digging further. This then led to some issue with the current supplier, so Admin is now on the lookout for a resolution.

The old system i…[Read more]

Hi Don,
Thanks for letting us know of that failure. I passed the info on to Admin, and he tells me he has now fixed that link.

Benny