Total Members: 158,067

Rental Profits

  • Rental Profits replied to the topic help with renovating in sydney in the forum Value Adding 11 years, 6 months ago

    get your property manager to do it for you

  • Rental Profits replied to the topic Property mgt question in the forum Help Needed! 11 years, 6 months ago

    $40 per month admin fee is through the roof, i would switch 

  • Rental Profits replied to the topic Advice on book selection in the forum Help Needed! 11 years, 6 months ago

    The magic of thinking Big

    By Dr David Schwartz

    it is just awesome and i read it over and over 

  • Rental Profits replied to the topic Time for Renovating in the forum Value Adding 11 years, 7 months ago

    Glen There isnt a quick answer to your questions, i do discuss it a lot further on my blog, however i do determine how much i will make on each project before i even sign contracts, that is crucial I dont always sell them, depends on a lot of factors.( i dont really like selling )I do plan my renos very well, and use timelines and engage my…[Read more]

  • Rental Profits replied to the topic Putting in an offer…. in the forum Help Needed! 11 years, 7 months ago

    could have been a vendors bid at the auction which dosent really mean anything.

    Put it back to the agent and ask her what the seller will take ?

    If that dosent get anywhere then

    I would offer $125,000, put your offer in writing with a 48 hour expiry date, with your conditions ( subject to…. )

    Make it clear to the agent that this is your…[Read more]

  • Rental Profits replied to the topic Time for Renovating in the forum Value Adding 11 years, 7 months ago

    i have done many long distance renos ( 10 hours drive away )
    you need to build a great team of tradesman
    knowing good real estate agents in the area also helps ( most country real estate agents go above and beyond the call of duty i have found )
    and get a great cheap handyman in the area, my handyman charged me about $20 per hour and was a wealth…[Read more]

  • Rental Profits replied to the topic Ex-Church Home Renovation Brisbane. in the forum Value Adding 11 years, 7 months ago

    i would start buy getting your home valued by a licensed valuer to see the real value as it is now

    They can also value your house with the new renovations done without the work done if you show them your plans.

    Then you should see if you are going to over capitalize

    you may be well ahead if you sell it as it is without spending the 70 K

    Good luck

  • Rental Profits replied to the topic carpet change canincrease rent yield ? help in the forum Value Adding 11 years, 7 months ago

    Get advice from your agent

    New flooring always adds value, however you want to make sure you can get the biggest bang for your buck

    I think when doing cosmetic reno’s to increase your rent returns if you cant get your money back within 2 years it probably isnt worth doing

  • Great advice from all above,

    The biggest thing to take away from this post it is 100% correct when they say you make your money when you buy not when you sell, in this market, where it is a buyers market, your in charge.

    Buy right and buy equity

    Never, ever pay the asking price

  • Rental Profits replied to the topic Direction Needed in the forum Help Needed! 11 years, 7 months ago

    Hi

    Thomas19 is correct, Goolwa is a little Gem, I Bought my first ever investment property there and it has gone through the roof

    Good luck

  • Rental Profits replied to the topic renovate the kitchen or not? in the forum Creative Investing 11 years, 7 months ago

    Hi

    In regards to choosing a property manager, choose by referral if you can

    the difference between paying 7.7 % and 8.5 % is only about $3 per week

    Choose your property manager wisely as they can dramatically affect the returns you get

    Instead of buying a whole new kitchen, see if you can just cosmetically upgrade it, new cupboard doors, or a…[Read more]

  • Rental Profits replied to the topic Flipping an undeveloped property in the forum Creative Investing 11 years, 7 months ago

    Be careful with this John

    Do your research, if you cant sell it you will have to be able to settle on it

    I wouldn’t do one of these by yourself unless you have a great mentor holding your hand through the process

    I would also be looking at using a deposit bond if you were to proceed, however there are a few hurdles you need to get through…[Read more]

  • Rental Profits replied to the topic QLD Solicitor? in the forum General Property 11 years, 7 months ago

    Getting a referral is by far the best way to get a great solicitor

  • Rental Profits replied to the topic Investment property in the forum General Property 11 years, 7 months ago

    Every time i buy a unit i regret it

    I much prefer houses because of the options available

    – Renovating
    – Sub dividing
    – Knock Down
    -Go Up A Level
    – Put in a pool

    The list goes on and on, try to get biggest possible land content

  • Hi

    If you want to be a buyers agent, and there are a few around Queensland, you will need your real estate license and become a master negotiator.

    If i don’t get a minimum of $50,000 off the asking price i would be disappointed.

    It takes skill and tactic to be a successful buyers agent

    Just because someone may be great at selling does not…[Read more]

  • Rental Profits replied to the topic Renovating For Profit in Brisbane – QBSA restrictions in the forum Value Adding 11 years, 7 months ago

    If it was my house and it was under 11 k and only cosmetic, then i would just do it

    I am sure that each quote can be under $3300

    If you start doing structural things and changing rooms around and knocking walls out.. different story

  • Rental Profits replied to the topic To render or not? in the forum Value Adding 11 years, 7 months ago

    I wouldn’t render it

    Spend the 9k in paying down the loan

  • Rental Profits replied to the topic bank account in the forum Help Needed! 11 years, 7 months ago

    generally yes, it is easier for record keeping but not totally necessary

    ask your banker

  • Rental Profits replied to the topic Direction Needed in the forum Help Needed! 11 years, 7 months ago

    Hi Steve

    I would buy a house on a large block of land, minimum quarter acre and possibly subdivide it

    there are plenty of them out there you just need to look

  • Rental Profits replied to the topic Is this the right time to buy in Adelaide? in the forum Help Needed! 11 years, 7 months ago

    i would buy a house on the biggest bock of land possible, i dont like units

    i would look more for the best deal and worry about tax advantages after that

    i owned a house in Goolwa SA that was 30 years old that never cost me a cent in repairs

  • Load More

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