Hi Joel, some great advice already.

I think you need to look at some numbers first (I'm a number cruncher).

How much can you borrow? How much deposit do you have? Look in a few areas that you can afford. Look at the yield and work out how much you are out of pocket each week (can you afford that?).

This will narrow down where you can afford to…[Read more]

Posters have already given great advice.
You can use the equity in your home without crossing the loans. Just take a loan (or LOC) on your home and use that as deposits. Then get separate 80% (or more) loans on each property. A good mortgage broker will help with this. 

LMI is something some people hate, others love. It can increase your…[Read more]

I always go interest only. Put extra cash either into your PPOR if you have one or into an offset account.
That way YOU control your money (not the bank).

Just curios- How are you calculating CF?  80% purchase? 100%? 105%?

Different people calculate it differently. To me CF+ is taking into account interest on ALL purchase costs + outgoings.

If the granny flat has a separate water meter and you have water efficient taps etc you can charge the water usage portion of the bill.

If your agent is not sending the tenant the bill show them the legislation and/or change agents.

Some agents don't like charging it. I had one say it discourages the tenants from looking after the garden.…[Read more]

What renovations do you want to do and where in Sydney (it's a big place and I know my tradies won't go to all areas of Sydney (that can be 2 hours travelling from one end of Sydney to the other in peak times).

Streamlineinvesting. Your post sounded like a newby question and then I see a link to your blog where you are offering property advise. Hence my confusion.

You asked about $200K properties then offer advise that Maitland is good with $300K properties. Which price range are you looking at? Western Sydney has some good opportunities between…[Read more]

OK my mistake but Lilian- You need to grow up?? Come on- are you 5 yrs old?

Your post asks 2 different questions- how much cash should one put into the deal (10%, 20%).
But you are asking how much cash to have in reserve. This is a different question.

In answer to that- you need to have enough cash in reserve to cover any problems that may arise. Again everyone has their own comfort level. Some people have 6 months rent…[Read more]

Nice self promotion.
Doesn't take a fool to see both posters registered on the same day. Coincidence? I think not.

If you want to promote yourself people would be more likely to trust you if you gave advice.

Hi, will use the new site for a little while before commenting but one thing that was missing and still is-
Is a place to put your location in your profile.

It's VERY frustrating as people ask questions but you have no idea where they are from (which matters often). I'm tired of posting "where are you located? so we can answer' 

seqel I guess it depends on the state of the walls/windows. Get a few quotes.Sometimes there can be a lot of prep time if walls need to be repaired and windows are peeling etc. I have only paid to get the outside done on one major reno (time was getting away). I always do the inside myself. Of all the trades that's the one that is easy to do…[Read more]

gpfstuff wrote:
I would love to replace my income through reno's as I do like to get my hands dirty. My situation at the moment and the reason for this post is that I am frustrated in trying to find time to perform a reno. When I did my last reno kids weren't in the mix. But now, having two young ones I need to work out with my wife a set period…[Read more]

When looking you need to know the area and the streets very well. I have a few in Mt Druitt (Sydney). First thing I do when I see a house is look on googlemaps. Look at the street and see what the surrounding houses look like. Are there lounges on the verandahs, unkept lawns, toys all over the lawn? Next is look up RPdata to see how many housing…[Read more]

opee wrote:
Just a quick question regarding property investing in general. Below are not quick questions but I'll try quick answers. Is it a good idea to always put deposit on to any property one buys. Not always. I always borrow the full amount. It's all tax deductable.If you have other debts you are better doing this. WHat happens if you…[Read more]

Well done ion starting your investment journey young. Difficult to say with so few facts. Yes looks like you have about $120K at 80% lend.  What is your cash flow like? I'd assume negative.Can you afford another negatively geared property? Cheaper properties may give you a better yield to improve your cashflow. What are your long term goals? Have…[Read more]

gpfstuff wrote:
Catalyst,I am located in Newcastle, NSW.As for the long distance renovations, I have never completed one and am more of the opinion to set a profit on how much I want to gain from a reno and then search, search, search and more search for a house to fit my criteria which is close to home. This allows me to go after work and do…[Read more]

gpfstuff wrote:
Hello Catalyst,Thanks for the insight into your renos. I really like the idea of getting in and out as quick as possible. 5-6 weeks sounds like the ideal time frame. Juggling the other things in life is always a challenge. I think you have to say to yourself and your famiily around you that it will be a finite time fra…[Read more]

Oh No!. What was in the contract regarding what they can do as far as work on the flat? They obviously haven't got strata approval either so once they get wind of it there will be more trouble. No solicitor I know is happy about early entry. You should have halted work the first day you saw it until it was resolved. Get them to stop now and push…[Read more]

Nice try but no.It's no longer your money. The money is collected to pay for upkeep on the property. Just because it hasn't been spent yet doesn't mean you can take it back. Sinking funds are generated to pay for upcoming expenses. For example there may be $50,000 in the fund but in 2 years time the place may need all new windows costing $60,000.…

It's listed on RPdata. Or one trick is, if the kitchen is original they used to date stamp the sink hole. Or look in the meter box.