I posted in another thread about the misconception about reno equity.

also, living in a reno has good & bad points. you often spend hours cleaning up so its liveable, but you can wake up @ 7am and be workin by 7.30. I also like being there cos tools & materials are sometimes not secure.

Brad

you either revalue OR sell. not both. its only if you revalue to use the EQUITY that the bank will withhold some. If you sell and the loan is paid out (transfer of security is far cheaper) then you get all of it.

Im a professional renovator, and I wish it was as easy as "should I hold or sell"Most people dont know this, but when you renovate a property and have it revalued, you have to use some of the gained equity to cover the LVR. If your property goes up by $100k, and you have a 20% deposit (ie 80% LVR) then $20k of the $100k gained equity is withheld…[Read more]

plaster the outside? maybe that would make sense if the inside was a swimming pool……

in a drought the ground moves and cracks appear in blocks. this allows water in. if you have plaster, it soaks up water like a sponge. fibro adds protection against both water and visible cracks.

I had besser blocks plastered & it was a nightmare. water penetrates & cracking occurs. My advice is to glue fibro to the blocks then do whatever. It will be quicker, cheaper & better.

this is sad news. I often wonder how many forum members slip away without us knowing.after reading this thread Ive been woken up to the possibility of a family member in a suicidal state.I have been through severe depression a few years back & its not pleasant. Its very difficult to share your feelings with family / friends, and we should all be o…[Read more]

from what I can see Deception Bay has already moved. maybe someone with RPDATA can post some stats?

Im doing a reno on a house in Redcliffe, paid $250k in December, just revalued @ $390k

Been trying to find another house around the 250k mark but they get snapped up before they are listed on the net. Ive given my details to 14 agents for properties under 300k & have had no contact.

In the last few weeks there have been heaps of people cruising…[Read more]

Ive wasted many a day at auctions trying to pickup “bargains”

by the time you allow for buyers fees, credit card fees, delivery, petrol, time off work etc……..its actually cheaper to buy from Bunnings.

And for gods sake, if you are going to bid at auction, dont be an idiot like most I see. They will have 50 items available and these clowns…[Read more]

so let me get this straight.

your mother inherits a $1m property. you wont share, and wont split the $$$ cos that would be a “downgrade big time”. yet, you are quite happy to move your mother into a “small unit”. are you really that greedy and selfish? seems like you are ripping off your own mother!!! and you want our help to fleece her? oh by…[Read more]

small fee…..if you call 1.25% small……..thats $125…….an option yes, but not a cheap one

http://www.posigear.8k.com
Positive Geared Share Investing

Bunnings sells new doors for about $20 ea. Is it worth the hassle? Once you buy the primer & paint, youve paid for 4 doors already. Then consider the time wasted sanding & painting. And believe me you wont be happy with the first, second or even 3rd attempt. I did mine 8x.

http://www.posigear.8k.com
Positive Geared Share Investing

Ive used the white knight stuff before. Its more a question of your preperation & painting skills than whether the product is good or not.
It seems fairly hard wearing, but if you have spare paint its easy to fix anyway. Dont think I would put it on a counter tho.

http://www.posigear.8k.com
Positive Geared Share Investing

Originally posted by simple:
why would you buy IP if market is flat or growing anywhere under 1.5% ??

the hope is that in the future, mortgage repayments will be the same, but rent will have increased with inflation.

eg: bought house 30 years ago for $50k. mortgage for next 30 years = $50/wk
30 yrs ago, rent was $50
20 years ago, rent was…[Read more]

Ive been told my bathroom looks like it cost $20k…….thats great, cos it only cost me about $2k.

I bought a nice modern vanity from the auctions for $220
I bought a 5 rail towel rail from a plumbing store carpark sale for $30, retail was $220
I bought a massage shower from the auctions for $800
I bought a square toilet from the auctions for…[Read more]

thats fine with me, in 10yrs time the house I bought will be on the water front!

http://www.posigear.8k.com
Positive Geared Share Investing

ummm

splitting hairs here, but…….50% more?

I think you mean tax on the other 50%……big difference

http://www.posigear.8k.com
Positive Geared Share Investing

Ive had similar responses lately. Put in offers & flat no without counter-offer. I find it rude. If they are not prepared to negotiate I walk away. If they were smart they would counter offer $1k below asking price.

http://www.posigear.8k.com
Positive Geared Share Investing

a few stats:

Suburb; Median:

Redcliffe 266k
Clontarf 304k
Woody Pt 380k
Scarborough 323k
Margate 265k
Kippa-ring 260k
Rothwell 344k

http://www.posigear.8k.com
Positive Geared Share Investing

Australia has:

1. capital gains tax
2. stamp duty
3. high agent commissions
4. land tax
5. expensive tradesmen
6. low rental yields
7. breathing tax [biggrin]

http://www.posigear.8k.com
Positive Geared Share Investing