That’s my thoughts really, if the offer is accepted fantastic, if it isn’t oh well no loss.

I was looking to wait until my husband’s 6mths of probation is up, but it is up in mid Jan so it isn’t too long to wait. I also would hope the banks would consider that we have worked in the same industry for 15 yrs and we had 2 weeks between finishing…[Read more]

I am looking at Horsham, a few central blocks that are 1173sqm. One has a house that needs demolition or major repairs, so you could start again, and one has a house on the front and a huge empty space at the back. Had a quick look at the council website but I really can’t find the info listed on there, I guess a call to the town planner

Cheers

Ruth

I have 3 IP in regional NSW and I live in SA so totally remote managed. I have a rental manager who I trust, don’t be afraid to change if you find they don’t provide sufficient info. I ensure interior and exterior inspections and I ask for photos to be emailed to me of any issues (repairs or damage). My property manager has a handyman who fixes…[Read more]

I think it is rare that people would drop $65K+ but not totally unrealistic, I spoke to a lady this week who is trying to sell her elderly mother’s home. The mother has gone into an aged care facility and the lady just wants the house to sell soon. She said it was $345K but they dropped it to $295K over the weekend because 1. they want it sold and…[Read more]

Hope they grant the extension for you. We had the bank come through only hours late and the vendor sold to someone else within 2 hours of when our settlement was meant to happen – and they sold for $30k more than they were getting from us – it will always be the one that got away!

I have had a huge shed removed that was asbestos and on the same property a bathroom reno which involved asbestos removal. The shed was about 4 carports wide and closed in on 3 sides (to give you some idea of the size of the job). We removed the shed as it was damaged and unslightly, the removal costs were about $1000 of which most of the cost was…[Read more]

I think one of the big things I have learned recently on this forum is that is is “hard to find cashflow positive properties in many areas” what you need to do however is to “choose the right property that can be made cashflow positive” whether it be through renovation, subdivision or other creative ways of thinking.

In summary perhaps cashflow…[Read more]

We did have one of the properties as a PPOR but my husband is a scientist and we move with contracts. As a result we have lived in 4 states and overseas in the last 10 years so buying a house to live in hasn’t often been a priority for us. In the last few months we have moved back to our ‘home’ state so it is now time to settle down and once we…[Read more]

Can anyone confirm if I am on the right track?

Ruth

Certainly is possible though. We put in an offer on a place and it was accepted. We stated subject to finance etc. The bank came through less than an hour after closing time for the agent and the vendor accepted another offer. Worst thing was they ended up selling to that vendor for $35K (YES you read right) more than we offered. We knew we had a…[Read more]

Broken Hill is a long way from everywhere though. There are plenty of regional areas a lot closer to major cities, sure you won’t get a place for $120 but there is a lot better value if you are looking for a place to call home. We had a 4 bed, 1 study, 2 bath, place on a 1000m block in Albury, walking distance from the city centre – got it for…[Read more]

There’s someone on this board, Jane at Hotspace http://www.hotspaceconsultants.com

Not affiliated at all, never used her but I do subscribe to her newsletter and what she does may be up your alley

Cheers

Ruth

We rent ourselves and personally prefer floating floor boards or tiles. I have found, in the many places we have rented, that landlords are apt to put in cheap carpets which attract stains no matter how hard we try to avoid it! As far as tiles or floor boards well that depends where you are. When we were in the alpine area of Vic we didn’t like…[Read more]

I am not in Sydney but when we moved from Adelaide to the US and then back a few years later to Perth, we used one of the big companies. I think it was Kent one time and Allied Pickfords the other. We move a lot and have done it on the cheap once but never again – then again we don’t pay for it as our employers do.

Hope the move goes well, I…[Read more]

Thanks so much for the info Mike.

Feel like we now have the info needed to make an offer, will take a trip and look at the place this week.

Cheers

Ruth

Thanks for that confirmation Richard. Glad to know I was correct when I thought his advise sounded completely insane. Now to suss out a new mortgage broker!

Ruth

While we are on this topic I thought I’d seek clarification too. We have $30k ready for our next deposit. We contacted our mortgage broker this week and he suggested putting the 30k on one of our IP loans (we have 3 on IO) and approaching the bank for a 100%+ costs loan. I was confused by this as:
1. They are IP loans and so the interest is a…[Read more]

I was at morning tea today talking with 4 ladies in their 50s. One mentioned a desire to buy another house and talk turned to mortgages. All, at some point in the discussion, said the words “I don’t know how I will ever be able to afford to retire”. Now as I am very close to 40 the thought of retiring at 40 is an impossibility but I NEVER want to…[Read more]

Thanks guys, that clarifies things for me

Ruth

We had termites in one room in one of our properties and we use termite baits, now that was a waste of $$ within a month they had travelled through a join in the concrete floor and were in another room. It cost us $5000 all up to treat them with chemicals. Since then we get the property thoroughly checked each year and no termites so far 2 years…[Read more]