I'm no expert but it sounds to me like you need a new solicitor.  May I suggest you consider posting your thread in the Getting Technical forum…. it is more likely to get a response from those in the know.  TerryW is the man I'm thinking you want to fish for a reply from.

I agree with asking a realestate agent or two for a valuation, and ask them to comment on the likely value of cladding versus painted.  Your property is a little business that must make a profit.  It's not a pet project to play with and make look pretty at a loss.  Numbers, it's about the numbers.

That is quite true, though I'm happy as a pig in mud spending lots of time in the very awesome Grampians.

M.Investigator is on a mission.  Plucking old forum topics and commenting on them hehehe.  Perhaps he's aspiring to the number 1 spot !

I'm no solicitor, but I cannot see how the vendor's bank would allow settlement to go through.  They are owed nearly $1.5million, but the sale will only fetch $1mill.  Ask your solicitor, they will have encountered scenarios like this many times over and will explain what it means to you.

If you go down that path, get a quote from a handyman and also a carpenter.  Handymen take longer to do stuff chippies do and as such they end up costing you more (or so I have found).

No I don't 4wd as such, but I do regularly have need to go on unsealed roads that are often a bit rough or underwater or marred by giant speedhumps made by the Parks Victoria folks.

Nice one Ryan

Pretty sure a build stays on variable rate during construction and cannot be put onto a fixed rate until construction is finished, but that shouldn't be a major issue.

I have been wondering this myself lately.  Not because I am interested in getting involved with a body corporate investment property, but simply because as you say, eventually, the property would, as you rightfully point out, age to the point of needing to be torn down.  It's an interesting topic.  I'll be watching this thread to see if anyone…[Read more]

Mitsubishi Challenger.  Very awesome for going places off the beaten track.  Also very awesome for fitting lots of renovation materials in the back. 

Personally I prefer to operate in a known market rather than one I hope will eventuate.

Some of the things you can do to understand demand are:

For rentals:
Talk to as many property managers in the area as possible, asking what types of dwellings are in most demand, how long they take to rent out, and what locations are more popular and why.…[Read more]

"sticking, holding fast, or attached".  Oh right I've got it now.  It means I have literally liquid nails'd myself to an IP.  Glad I got that figured out !

@Derek… sadly yes.  And our society structure is encouraging it.  Can't be bothered to watch where you step?  Or can't accept that stuff happens in the course of being alive.  You might trip on an uneven bit of concrete.  Watch where you are going next time maybe.  Nope, there is the option of suing the council.  It's a disgrace.  Can't be…[Read more]

I think that it is a very big problem that the industry professionals  such as Terry are finding it harder to navigate the new forum.  A lot of people come to the site and leverage their knowledge, and I do worry that if the site is tough for the professionals to use, they might be less readily available to respond to peoples' questions..

Hi VJ

Sorry to hear about your situation.  Sounds tough

Forgive me for not understanding entirely… but what has Centrelink got to do with it?  My understanding is that when applying for the disability pension, you are a couple is permitted to have up to $273k in assets, not including your own home. …[Read more]

Good on you for listening to advice and being sensible.  All too often we see people asking advice and getting offended when they hear it.

Hi Dave,

You would of course also need to understand whether you could service the loan that proposes to use this equity.  It's still a loan and has to be repaid… well the interest part anyway…

I've learned stacks from this website… and of course the professionals of the industry such as Richard share pearls of wisdom every single day.  I think a lot of the newcomers to the site are quite taken aback by just how much valuable info people are happy to share with them.

@Richard…. property enthusiast, hey?  Ohhhh I'm so proud of you!…[Read more]

From what I understand of the situation, the owner of this property bought it against Cherie's advice.  It was then Cherie's dilemma of how to renovate it in a manner that added functionality for the owner, but also added value to the property itself.  I cannot understand why this lady (the property  owner) has chosen this course of action.  Nice…[Read more]

You are saying "So upon purchase I make 30k.".  No you don't.  Developers mark stuff up heaps, which the punters tend to find out after settlement when they decide to put their property on the market.  To their horror, they realise it is worth less than what the market is prepared to pay for the product.

"Because it's my friend that is selling…[Read more]