Hi everyone,I will be doing renovation in 4 wks time in Belconnen area. Can anyone recommend tiler, electricians, plumber for both drainage and plumbing work, gas fitter, carpenter and handy man?The reno job will be:1. retile 2 bathrooms, toilet and laundry2. replace an existing bath with shower and toilet (drainage work required) in one…[Read more]

thanks Scarecrow7,

I have just compare two properties from the same area (50 meters apart)

Property1

Capital Improved Value = $231K
rates = $621.05
land value = ???

Property2

rates = $760
land value estimated by valuer $210K

Correct me if i am wrong but can I use this formula to calculate the land value for property1 (210000/760)*631.05 = $174K?

the land is in Heidelberg area. I talked to agents/ppl from other area and they said it is rough area but it has good growth based on recent sales.

thanks guys,

I finally got a valuer to estimate the property.

Just a story to share, the property is advertised for $280+ and I remember the agent mentioned vendor is happy to consider $280K – $290K.

I get the valuation done at $310K. Then the agent told me the valuer indicated him the property worth $310K. He refused to submit my offer at…[Read more]

thanks Marc,

After reading Steve’s book and many others I want to add +ve IPs in my portfolio.
Sit around and do nothing will drive me crazy

Right now I dont have enough for deposit. The only way is to increase my existing loan to get me started.
It would take me a year or two to come up with the same amount of money.

I am happy as long as…[Read more]