Total Members: 155,515

chump

  • Hey Catherinec,This suggestion is not as exciting as refinancing or anything like that.  But without knowing your full situation, I am going to assume that a several years back means that you may have bought this properties early boom and you know have positive cashflow.Therefore I would consider the following – sell one of your properties to…[Read more]

  • Hey there,You know that ringing and asking Real estate agents, property managers etc can also provide you with some of this information for free.  Further more you can start building your confidence and relationship with agent in your target area. For rental yields you can always get your hands on a rental list and look at what price homes are…[Read more]

  • Hey Guys,Excuse my ingnorance and lack of knowledge here, but what is the FIRB clause you guys are talking about

  • Crashy,Great info, I am gonna save it.  I am currently looking for a reno myself as my first deal is a new building and I want to learn more about the building industry and be alittle more involved in this one.Cheers Chris 

  • Crashy,Ok.  I can understand that there are both negatives and positves.  So with your extensive knowledge of this process what are some of the things that you are looking for in your deals to prevent or limitted your exposure to these problems.  Most of us understand the costs involved in these transaction eg Legals, stamp duty, time run over et…[Read more]

  • Crashy,Get off your high horse!  You don't know anything about me or my situation.  Most of the people on this forum are chasing a similar dream to become full time investors.  Offering some positive (emotional, if that's what you want to call it) reinforement is not unhelpful!  You are already in this position as a full time investor well done.…[Read more]

  • Hey  Crashy,  or should I say Cranky!Were you having a bad day when you made your last two posts?I didn't metion anything about IDIOT PROOF in my post but I did give a positive message regarding sebsez will to succeed as a Renovator.  Sebsez would obviously be smart about their Due Diligence when it comes to evaluating their deals and decision on…[Read more]

  • hey Sebzes,If that is your dream follow it.  There is no reason why you couldn't make that sort of money out of renovation.  Give it a go.  Who knows where you will end upChris

  • Hi Keenaz,I would probably suggest getting in touch with a town planner or survyer.  As you would probably want to ge tthe subdivision started.  Also A builder or handy man will be needed for your reno.  Other than that, this should get you moving forward.  Well done on your dealChris

  • Hey Karen,I Believe that a suveyor or town planner should be able to help you with that.  Sound like a good deal.  Well doneChris

  • Hey,Mate I would suggest something similar the Bish.  Invest a bit of time and or money in some education.  Go get some professional advise from Accountants, Financial Planners even Mortgage Brokers about your situation.  From there you will be better equiped to make an informed decision about what would be best for your situation and goals.  CheersChris

  • Hey Dr Spock,Are you meaning to buy a bargain?  If so I a believe that I would refer to an under value property as a property which the purchase price is less than the valuation.  Therefore getting it cheaper than market price.Cheers Chris

  • Hey KarenjI don't know exactly how it works, but assumably you would purchase on a long settlement with a licence to occupy.  This means you can go onto  the property and start reno etc.  Not sure if the vendor would be keen for you to demolition the house however.And basically you would then on sell the property to someone else and have the se…[Read more]

  • Hey there,Sounds promising. The student idea is a good one, just got to watch you will probably need to include services etc.  You said that it is a managed apartment, would be worth while checking out what the management fee is for the building.  These can be pretty high.  One other thing – is the $1430 per month opinion or fact.Good luckChris

  • Jason and Felicity,Well done. You guys sound like you are making excellent progress.  Just keep crunching the numbers and staying active, setting goals and I am sure you will make fantastic property investorBest WishesChris

  • Hey Elka,I guess you just need to think about your target market.  If you want higher income tenants and if painting will attracts these types, then I guess you answer your own question.  I can understand your restorer bone being tweeked.  But hey go buy a reno project to restore, and you can be as happy as a pig in mudCheersChris

  • What is your plan for the properties?Do you have a number written down or in your head about the type of yield you want and the capital appreciation you want out of the properties?  If not maybe start there.Then if they are not meeting your desired plan I would consider other optoins eg selling.  Maybe not all of them but the one to at least f…[Read more]

  • Remember Steve always says that if you have a plan to get into debt, you need a plan to get out of debt.  So how strong is the investmet.  Can it service a 105% debt at the more than likely higher interest or do you need the buffer.What is the plan for the property? Reno and sell, or buy and hold etc. Could have a bearing on your decisionBest wishesChris

  • hey KristyAnother place you can have a little look for rental info or at least median rents is on the RTA web page.  It usually gives you a medain weekly rent for and areaChris

  • chump replied to the topic Subdivision. in the forum Help Needed! 16 years, 4 months ago

    Try ring a few surveyors that work in the area and ask if that could give you a rough esitmation into the costs. Other wise just ring you local council and ask for them to send you out some information on the approximate costs of subdivision in the area.
    Good luck

    Chirs

chump

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