Thanks Anrobel,After doing my research i've decided to do the following and started this today.For paint preperation only:1. Sand back all peeling paint.2. Clean all walls and ceilings with sugar soap.3. Fill all cracks with Filler.4. For all uneven paint areas due to pealing use Skim Coat Filler.Will be doing some other tasks prior to painting,…[Read more]

Thanks for the tip Crashy,Going to head down to Bunnings for a look around tonite. Cheers,Miike

Hi Crashy,From my undestanding lead paints were abolished in Victoria in 78. I'll get a lead testing kit and make sure the paint is not lead based.The paint is peeling on some walls, cracking on others and extremely stained too.Needs to be replaces, Hadn't thought about laminated mdf, will investigate it a bit further.Cheers,miike

Thanks for the advice Nami. BanjoSmyth, I am predicting to live in the apartment for 12 months to claim FHOG without any issues as a PPOR. Once all phases are complete, estimated to be done within 12 months I intend to recycle my equity, possibly refinance and purchase a second property using my checklist simlarly to my first purchase (under…[Read more]

duckster wrote:
Welcome to the forum.One thing I have discovered is properties that require a major renovation to fix are usually not advertised in property web sites or in newspapers. The first step is to be able to have a good financial record so that you can enquire from a bank as to how much you can borrow ,  so that you have a good idea…[Read more]

The purchase is a bit more complicated, as the Vendor is through State Trustees. My understanding is that the State Trustees sells on behalf of the client and is liable for the transfer. In the case that the proprieter of the property dies, the state trustees is still liable.Am i on the right track here?

strange…i replied to another post, sorry guys….

The purchase is a bit more complicated, as the Vendor is through State Trustees.My understanding is that the State Trustees sells on behalf of the client and is liable for the transfer. In the case that the proprieter of the property dies, the state trustees is still liable.Am i on the right track here?

Thanks for the help Yarpos.I intend to do a bit better than just posting my results.Keep you all posted,

providing estimates only as a guide.purchase 320kequity 30kloan 290kinterest only 8.75%length of project 1 monthusing the property as PPOR for 12 monthsFHOG being used – 10klocation: brighton east, VIConly flat in the street, block of 6.hard to compare as there is no property on sale or even for rent in this range. it's a pretty absorbed market in…[Read more]

Wow, that was great Jeff.Thanks for such a detailed reply.I am just at the start of my investment life…don't even have my own place at this time. However, there is always a place to start.I look forward to contacting you with any further queries.Cheers,miike

Hi Jeff,I've done some minor research into Ingham.Can you provide me with some further details on things such as:1) Good areas in Ingham,2) Any PM's you use,3) Anything to do with:a) vacancy issuesb) rental issuesc) area issuesd) Contractor issues for reno's, updates to property for added value, etc…e) development issuesr) rental target i.e.…[Read more]

Forgot to mention:Body Corporate – 250 per quarterCody Corp Funds – 16kInsured for 2.2 Million, with 9 flats, all equal rights.

Thanks for your reply Gary.In general these figures are not accurate (they are provided to figure out if my calculation method is accurate or not), thankyou for the advise on not displaying personal financial information in public forums.The 5% purchase costs is something I did leave out, but am aware of.I am in agreeance with you that there are 2…[Read more]