Thanks that does clear it up. The suburbs are in the west of sydney.

Originally posted by freeman cooper:

In wet areas it is a good idea to use a satin finish because this is less porous and easier to clean.
Hope this helps
regards
Frank

So in the bathroom I should use satin finish?
For both roof and walls?

thanks. I’ll think about that

Thanks Celeste, good idea a new toilet. hmm, yes I should hide the pipes and electricals(much easier on the eye). Hmm, those colours sound great(the whole warm and cool thing).
Um, I dont understand what you were talking about with these rafter specs and stuff.

Also the property im looking to buy will be in the western suburbs or maybe even out…[Read more]

Thank you everyone for your help, It has been greatly appreciated.

Thanks,
Christopher Fife.

I agree with Terry. Putting it in a 100% offset account will help to lower your interest repayments. And you can also draw out the money and use it as a deposit for another property.

Or. If you have a dump of a property you could reno it up lots and then rent it out at a higher price. you will also gain immense equity from these renovations.

Christopher.

May you please give us some information to what stage you are in now. E.g. Own your own home(how much loan?How much equity?).
Whether you are in a relationship and have a dual income. What your income is?
We need to grab some info so that we can tailor our tips to your situation.

Christopher.

If your tight on money and are doing a P/I loan try changing it to interest only, its will make a huge impact on your budget for living.

Also with the car, personal loans and CCs, try consolidating them all into one of the home loans. I bet you are paying a much higher interest rate with the car,per,CCs than the home loans. This will free up a…[Read more]

Welcome illusion, its great to have you on board.

The best advice to offer to you now at this stage is to read books.
I recommend starting with Rich Dad Poor Dad by Richard Kiyosaki.
Also I recommend you read many other investment books.
They will provide you with so much of the basics so quick and will get you prepared in the heated discussions…[Read more]

Indians and Chinese.
Catering for those races, as immigration. Hmm.
Well I think one story houses, as the old people and I don’t think chinese like two story houses. Imagine a chinese lady trying to pull a vacuum cleaner up a flight of stairs.

Christopher.

Seeing as I don’t yet own a PPOR or an IP, the first thing I would do would be to buy a few IP’s. Yea just to get me started.
A PPOR will come down the track(lol, im only 18, wait till like 25+).
Woah imagine the equity I would have then, woahhh!!. Can’t even imagine it now.

Christopher.

Yes the HSC is just around the corner. I am spending alot of time doing that. Hmm, I should be spending less time on here now. Well until the middle of november.
Well guys i’m off to the beach today with my year 12, as it is our last day, we are having a fun day out. And free of charge. Yippie.
Have fun everyone.

Christopher.

Thank you everyone.
Hmm, yep i wont worry about location for some time.

Me and My chem teacher sometimes get caught up with chatting about investment properties that one afternoon after last period we were still chatting about an hour after class finished. Im to motivated to leave.

At 18 my goals are being set and being tweaked ever so slightly…[Read more]

Thanks everyone. I have come to the conclusion that I will add the water tank when I am renovating the dump that i buy in 3 years time.
Thank you.

Christopher.

When you say they charge 8%. Does that mean that they are charging you 8% of your rent(income).
Say you were renting out at $250a week , they would charge you $20 a week.

Thanks cbellesini. I am beginning to agree with you there. When the time comes to sell, put it in.

Though what about the idea of selling the property to the tenants. Like you know that increased rent thing for a few years builds up a deposit for the house and you sell it to them, what is that called.
And would it be wise to do it in that sense as…[Read more]

I would not suggest using management for your first IP. As your business(real estate) is small, you’ll need to keep costs to a minimum.

Once you build up quite a few houses and feel that the burden of managing all of them is to much you can manage some out.

Though read a book on how to manage your own IP, they will surely have lots of tips that…[Read more]

Hmm, talking about rosets on the ceilings. They are like the feature of the ceiling. Hmm, what are some cheap buy effective feature painting tips. Like walls or ceilings.

Thanks guys that helped alot.

Christopher.

Thanks Meeg, I am beggining to feel like I am becoming an investor. Maybe not yet into real estate(physically) but into my knowledge of real estate.
Many people ask questions on here as they seek wisdom and knowledge, I do hope that in the (even near)future I will be able to help out others.
Though I have this problem where everyone says don’t…[Read more]