Results1 wrote:

julee.d wrote:
I'm often told that investing in property is a risky business, usually by people who have never owned a property.

ahhh, how true and also family members, who may or may not be just a tad jealous.

i have family members like that too.  one in particular springs to mind.

literally the only renovations we did to that unit was a lick of paint – so a few hundred dollars at the time.  it didnt (and hasnt) needed anything else done to it.  we bought it with a new bathroom and kitchen.  it was amazing – we did a valuation on the property 10 months after we bought it (in June 2006) and it was valued at $190k at the ti…[Read more]

thanks for the advice.  i went back to the newsagent and asked the lady.  they had them not where the other wealth/prop mags were but down on the ledge around the corner …. weird.but i got one and its a good read.  ill get a subscription.    i guess its just another avenue to get ideas, motivation and inspiration. thanks again!

couldnt see it there the other day – but maybe they had just sold out of the current issue.

we have no borders, no bookshops and no gloria jeans haha

good luck rudra.   sometimes its hard to walk away when they want to negotiate above your comfort level, but keep emotions out of it and think with a level mind.  that was one of the best bits of advice ive been given over the last couple of months.  we only wanted to buy now if we got a ridiculous bargain from a vendor who was willing to sell way…[Read more]

thanks linar!  this gives me a guide until i can make some calls on monday.

thanks   i think we will go with the roller blinds.

i have to admit richard – i had to google what a "call option contract" was  …  i seem to learn something new every day when it comes to purchasing  rudra – we've been making tonnes of offers on heaps of properties we saw potential in.  but if they didnt come down to the price we were asking we just kept walking away.  so it took alot of offe…[Read more]

wow richard – nice buy!  is there a reason why u are not setting till the next financial year?  is there some kind of tax benefit?  i ask because our settlement is on May 28th … so is significantly shorter than yours.  am curious.  ive got itchy feet now!  i cant wait to get my feet dirty with this small reno. 

here are a couple more pics.  would u keep these french doors?  obviously they will be repainted when the other stuff gets repainted.  and i would put on new knobs.

want to know the even better news??  i had to drive 2 hours yesterday to see the house because i made an offer without seeing it – planning on seeing it if they wanted to go that low.  anyways, when i went there the bathroom is definitely not "renovated in the last few years" as the description said.  i would estimate it was at least 10 years ol…[Read more]

yeah richard i remember that about CC loans    I remember your comments when I discussed it lasttime   and cos of ur advice plus also independant research i have stipulated not to CC my loans.  spoke to the lady from CUA today and asked her specifically that if i withdraw $60k the money from the equity in my other IP, and then use that money to…[Read more]

sorry i shoulda specified this before.  im wanting a 6 foot wooden picket fence, or something that provides the same blockage.  its just that the 'backyard' is more beside the house than behind.  and my target market is families.  i wouldnt want my kids playing beside the house in plain site of the passers by … and i expect other families are…[Read more]

thanks for the help!  we ended up being outbid for this house … but it was a blessing in disguise because we found another house today, made an offer, got accepted.  if u are interested i wrote about it here:  https://www.propertyinvesting.com/forums/property-investing/general-property/4328029its in loads better condition so its less work for ne…[Read more]

oh … and just in case someone was wondering – we are wanting to renovate, rent it out at approx $350 a week, refinance the loan and use the extra money to purchase again.or maybe we will sell it instead of refinancing, depends on the market.

Paullie wrote:
Exactly, they are just applying lube for the rapage next year.

LOL

hi liz,im not sure if this changes depending on how much prop you have – but we were advised by our financial planner to have 1 month's worth of expenses saved up (all living expenses plus all loan repayments combined).  it wouldnt be too hard to work it all out if you have a current applicable budget done up.ours arent too bad, came to just over…[Read more]

yeah it was like that for us when we found out about the repairs.  when we were reading the building report our heart sunk at all the work.  we really had our sights set on this prop.  but oh well.    wasnt meant to be.

ever since i pulled out ive had a real feeling of peace about the whole situation     so im very secure in the knowledge that Ive done the right thing for us at the moment plus how could u be in a bad mood when 3 hours u drop out of the contract ur hubby to rings to let you know he's had promotion and payrise!! today is a great day!