If you have on positive and one negative they could cancel themselves out as far as money out of your pocket. Is that what you need? You need to decide what your long term goal is. Why are you buying property? ie what do you want to achieve from it?Will building give you equity? In order to move forward with your investing you need equity. Cash…[Read more]

How much money are you talking (after the $600 bond)?  Might not be worth the hassle of chasing it. Sometimes the time you put in can outweigh the monetary gain (if any)Chalk it up to a lesson learnt. Friends/family and money don't mix.Did you have a formal lease agreement?

Why? Do you have questions or do you want to make friends? Just curious.

Scott No Mates wrote:

Catalyst wrote:
I'd rather have the money in my pocket NOW. I can use that $20,000 to go towards my next deposit. So it's not a black and white issue. As mentioned-you need to balance time and money. Everyone is different hand has differing time and expertise constraints. Only you know what situation suits you.

What you…[Read more]

PGD wrote:
Thanks guys for the perspective,I think it all comes down to your attitude towards your time.I think even if it ends up costing you a little more in the long run you are actually ahead because you have saved your energy, time and health.After all, it is not all about the money right?We are playing this game with the aim to improving…[Read more]

Scott No Mates wrote:
DIY = poorly supervised/overtime/over budget.

Maybe in your case.  Definitely not in mine.

Scott No Mates wrote:
As above, unless you earn substantially less than the tradies or have copius free time & love stress, leave it to the pros. If it is an IP you can't claim your labour costs, generally thus leaving you with a…[Read more]

Welcome. Tell us a bit about your investment journey.  Where are you and what are your future goals?

I agree with the above re knowing when it's best to do it yourself and when it's best to pay someone. Also consider it may take you 3 days but a professional can get it done in a day so doing it yourself is false economy. I love doing the renos  but won't take time off work to do it. I will work nights and weekends but obviously you can't do this…[Read more]

Sounds like some weird investment strategy.   Why 11?   I can understand 3 (no lifts). And what difference would it make if there were 50 or 100?I've heard of different strategies but this one takes the cake. I only want to buy units that are in blocks with 11 floors and only if there are only 368 blocks in Brisbane.Sorry if I sound cynical. I am.

Have a look at the somersoft forum. There are some good threads on there plus a few buy a lady who lives there and is buying NOW. Interesting read if nothing else.

Well I disagree with Luke. I've done reno's like this with great results. If it takes you 6 months and costs you $35K you need to stop looking at houses and do something else. Ok how much of the work do you plan on doing yourself. This makes a HUGE difference. My last reno was new kitchen, bathroom, polished floorboards with carpet in he bedrooms.…[Read more]

The owner does NOT have a right to show the property to prospective buyers without your consent. If it doesn't suit you to have people going through your home, don't let them.  They can't have their cake and eat it too.They should have told you. If they genuinely only needed to sell in a hurry then they should be offering compensation to you for…[Read more]

Hi Jyon. First I would not be selling if you are in Homebush. I'm buying in Sydney at the moment. I still see good growth there (just my opinion of course).With the IP2. If you live in it first then move out you can rent it for 6 years and not be liable for CGT. You can then move back in and if you want can then move out again for another 6 years…[Read more]

What does your research tell you? Has it had steady growth? did it peak then flatline? What's happening in the area?I know people who thought their properties were not performing over 5-7 years and sold them in 2000 only to miss out on 100% gain in the next 3 years.Remember sell and buy costs. Is the extra cost justifiable? I'm not one of the…[Read more]

First can you clarify_ You said you want to find a job. Then you said you are on $60,000pa??You said you just got 2 and a half months payout but you only have $5,000 (or was it a very poor paying job?)If you have just started working you will find it very difficult to get a home. AND you have no money. I don't see how buying your own home is…[Read more]

Hi Richard. I was also told the St George one (with many sub accounts) was the same. If this is the case why does the contract for each loan only mention the purchased property used as collateral? Deposits taken out of LOC. Each loan is for 80% of IP. How is that crossed? Or is that a different setup?

Yes. I do that for regionals. Most agents are pretty good.

You definitely need to do a pre settlement inspection JUST before settlement. Things can change so quickly. Even before you buy always pays to do a last minute check.I turned up to inspect a property once (dept housing).  Every wall was smashed. Agent said it wasn't that bad a week earlier.Guess that didn't fetch much at auction (unless some p…[Read more]

Thanks Terry. I wasn't thinking and was confusing LOC with offset. Thanks for clarifying. Don't want to confuse anyone.

as others have said not much profit in selling. Actually you will be worse off if you sell and buy again. Can't see the point unless the property you have chosen is not likely to get CG.$20K – selling fees ($6k) gives you $14k. How much did it cost you to buy the property? $2K solicitor? Loan establishment fees, exit fees ($1K+) You'll be lucky…[Read more]