Total Members: 154,009

RichLee

  • Thanks Duckster, thats just what I was wanting to know…..and….. Scott No Mates…… "He" is a She  I am not a developer just an everyday person who has built a house and cant decide whether to rent it out (if I do it will pay for itself) or sell……. this was only an option if I dont have to pay CGT…..Cheers

  • For me personally we have rented in between 3 properties. The first home we renovated ourselves and made a great profit when we sold it after 5 yrs, enough to build our 2nd home on a huge block of land which we lived in for 2 yrs before selling and making another nice profit. We have almost completed building our 3rd home which we will be renting…[Read more]

  • Oh gosh I have not logged on to the forum in a long time! My sincere apologies for not responding to your question.That particular property was in Regional Northern Victoria and was built by Dennis Family Homes :) It sold in Sept 2008 for $465,000.We have almost completed building another home in the same location which we will rent out because we h…[Read more]

  • We paid $113,500 for our 1 acre block and built a 4br + study home, we have also put up a large tradeys shed and a large undercover entertaining area. Total cost to do all this $216,500 – so $330,000 in total. It is now on the market for $460,000. With the market being a but up and down at the moment due to interest rates it may take a little…[Read more]

  • i think your property sounds ok. You will only be borrowing $150,000 and repayments ( over 25yrs, IO, 7.39%) are around $230 a week (depends of course where you get your loan etc..) rental income is $160 a week so property will be neg- geared, depends of course too on your situation, are u looking for neg- or pos+ geared properties etc.The first…[Read more]

  • RichLee replied to the topic NO TENANT in the forum General Property 14 years, 8 months ago

    my advice was going to be get a new RE Agent…. I think everyone else has it covered, wow I cant believe it has been vacant for that long, it sounds like the perfect place!! take it into your own hands and see how you go and kiss that RE good bye. good luck with it all and keep us posted!!

  • I am in a similar situation with you and am opting for the 105% IO loan, only because I dont have the full cash deposit to put towards it and dont want the IP to get away. If I had the cash deposit I would probably chose the 80% option. The cash I do have is going towards renovations on my own property so I guess in the long run I can still use…[Read more]

  • thank you so much elka, your info was great and extremely helpful

  • Have to add my 2c here as we are in the electrical trade too. My husband prides himself in his electrical work and always cleans up his mess and always respects other peoples homes whether they are old or new. We have renovated and built homes ourselves and have seen first hand how some trademen (not all) basically dont give a toss about other…[Read more]

  • Hi vl
    I guess it depends on the area you are planning to build/buy in. We were in a similar predicament also and decided to build. Mainly because in the area we are in the houses for sale are way overvalued for what you get, when we can build the same or better for much less. I guess you could look in to the costs for building in your area and…[Read more]

  • I am new to IP’s too… but wouldnt consider this as an IP, especially if it CF+ you are wanting. I guess it depends how much you like the place, if u really want to stay there, or if it will be easy to find another place. Maybe look for something else to buy that isnt quite as expensive. And they cant just kick you out on the street, so you…[Read more]

  • Hi Colobok
    I run my own bookkeeping business and if there is one thing that every client has said to me is that it is way too expensive to get an accountant to do what a bookkeeper can do for a quarter of the cost. A bookkeeper can still have everything organised and ready for you when it comes time to visit your accountant and you will save…[Read more]

  • We rent at the moment as we recently renovated and sold our first PPOR. We then moved to a different area and decided it was easier to rent while we got settled and found land to build on etc… There is no way we will stay renting any longer then we have to as I dont see the point in paying a lot of money every week for a place which is never…[Read more]

  • Hi Bill
    I havent done anything like this before, but came across something you may or may not be interested in checking out seeing as you are in Victoria….

    http://www.realestate.com.au/cgi-bin/rsearch?a=o&s=vic&c=4000054&tm=1119155260&id=101975055&f=0&p=10&t=res&ty=&snf=&ag=&cu=&fmt=&header=

    Am sure you would’ve looked in to this already but…[Read more]

  • Hi Coops
    We recently sold our PPOR through a real estate agent and after they kept their hefty little fee we vowed we would never sell through an agent again. At the time we were unsure we knew what to do and thought the agent would do so much to help us, all they did was keep us in the dark about everything. Apart from organising times for people…[Read more]

  • Hi Endless Summer
    I am a stay at home mum with a 4 yr old son and another one on the way. I am only just starting out with IP’s but find I plan my time around my son while he is at kindergarten, or do things on weekends while my husband is here to do things with him. I guess if you are running it as a serious business and a source of income treat…[Read more]

  • Cheers, thank you for your response, this is my first day in the forum so I appreciate your response. I will be investing in the book so will have a good read. I didnt expect anyone to give away any secrets as such, just thought some experienced investors may have had some good suggestions etc…

RichLee

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