PropertyInvesting.com | Scully | Activity https://www.propertyinvesting.com/members/scully/activity/ Activity feed for Scully. Sun, 12 Apr 2026 13:54:40 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 4ebbc921518594165eb91752bef315ef Scully replied to the topic Renovations during the settlement period in the forum General Property https://www.propertyinvesting.com/topic/4376671-renovations-during-the-settlement-period/#post-4493973 Wed, 27 Oct 2004 02:22:00 +0000 It’s just a case of coming to an agreement with the owner. We have done this with a couple of properties. We’ve put new kitchens, floorboards etc. in them before settlement with the agreeance of the current owner, and had them rented out by the settlement date.

It’s definately worthwhile if you can negotiate it.

Cheers,
Karen[biggrin]

]]> 582fcf2d74f67e07bfcd94a0d1049dd9 Scully replied to the topic Assistance required with Furniture in the forum Help Needed! https://www.propertyinvesting.com/topic/4376602-assistance-required-with-furniture/#post-4493666 Thu, 21 Oct 2004 23:27:55 +0000 Hi there,

Can’t help you too much, but no, Fantastic Furniture is certainly not crap for a holiday house. When I first moved out on my own, my house was fully furnished with Fantastic Furniture. This was many years ago, and we have only just replaced the last of it (entertainment unit and coffee table).

I’d certainly consider purchasing from…[Read more]

]]> 9f2fae4fbba1a84faa8c2098e9ae1573 Scully replied to the topic IF I WAS 25 AGAIN I WOULD ....... in the forum Help Needed! https://www.propertyinvesting.com/topic/4376489-if-i-was-25-again-i-would/#post-4492964 Sun, 17 Oct 2004 23:24:54 +0000 25 is a bit late for me. I’d need to go back to 20. If I was 20 again, I wouldn’t have got married!!! I would have spent the money I had on an investment property instead of buying a house with my husband (which we subsequently sold anyway). 25 was when I actually woke up, and started investing in property. Now I’m pretty damn happy, just…[Read more]

]]> 5d27a50fc6c65c1fb9a1f62b68fa11bb Scully replied to the topic Negative feedback from family & friends?!?!?! in the forum General Property https://www.propertyinvesting.com/topic/4376519-negative-feedback-from-family-friends/#post-4493203 Sat, 16 Oct 2004 23:01:08 +0000 Hi Ali G,

As you can see from the previous responses, many people have gone through the same thing. We generally don’t talk about our investing to many people at all, just our parents really. Even though they would never consider doing anything like we are, they are very supportive and want us to do well.

Unfortunately, this doesn’t extend to…[Read more]

]]> 7b0169e82d96c78b3f58f0efa8dc7360 Scully replied to the topic Golden Rule of Renovating in the forum No Subject https://www.propertyinvesting.com/topic/4376265-golden-rule-of-renovating/#post-4491711 Tue, 05 Oct 2004 23:46:55 +0000 Hey Ali G,

Well, we didn’t read any books or anything. I figured by the time I’d finished reading a book we could have finished the house/unit anyway.

We just got in there and did it. My husband is not a tradesman, but he’ll give anything a go. The only thing he realises he’s not so good at is tiling floors, so he does try to avoid that (walls…[Read more]

]]> 134b747b4588256f2bb76246647448fe Scully replied to the topic Need a new bank in the forum Help Needed! https://www.propertyinvesting.com/topic/4376266-need-a-new-bank/#post-4491733 Tue, 05 Oct 2004 23:34:24 +0000 We use both St George and Bendigo Bank. We have found both to be excellent on the borrowing money side of things. I think one of the main reasons we haven’t had any problems with St George is because we have an excellent bank manager who understands what we’re trying to do and will go that extra mile to try and get what we need. If you can find…[Read more]

]]> d63501e485290912d0f3139ee3b45e90 Scully replied to the topic Golden Rule of Renovating in the forum General Property https://www.propertyinvesting.com/topic/4376265-golden-rule-of-renovating/#post-4491707 Tue, 05 Oct 2004 00:15:18 +0000 We actually enjoy renovating. We have done it with nearly all of our properties. If you choose the property well, then a reno shouldn’t be anything more than cosmetic. We do all of the work ourselves, (apart from electrical) and love doing it. It takes us between 1-3 weeks to complete (after work and on weekends), and each time has enabled us…[Read more]

]]> e8b450393c1d240e6627f49f72a35a75 Scully replied to the topic Tasmania Boom? in the forum General Property https://www.propertyinvesting.com/topic/4373676-tasmania-boom/#post-4473368 Thu, 13 May 2004 23:29:02 +0000 I personally will be keeping a close eye on Tassie, in particular around Hobart. I know the “boom” is pretty much over, but Tassie and Hobart in particular has just been thrown into the spotlight with the Danish royal wedding coming up. I reckon tourism in Tassie is going to flourish (more), and this in turn may just create some more investment…[Read more]

]]> 0afc85f7b3127ff71995b8a778443e23 Scully replied to the topic What made you buy your first property? in the forum General Property https://www.propertyinvesting.com/topic/4373583-what-made-you-buy-your-first-property/#post-4472601 Mon, 10 May 2004 02:46:40 +0000 My first property was a PPOR bought when I was 21 and just about to be married.

We only bought a house because we had been brought up to think that renting was bad, and you should buy your own home ASAP.

We bought in an area we didn’t really want to live in, but was all that we could afford. Could have bought a unit where we wanted to, but…[Read more]

]]> bc1afe8b51296d2570bb13c5f4f2d6b9 Scully replied to the topic Your First IP !! - Post here ! in the forum General Property https://www.propertyinvesting.com/topic/4372272-your-first-ip-post-here/page/2/#post-4462906 Mon, 12 Apr 2004 12:04:36 +0000 Our first investment property is a 3br house in Castle Hill, Sydney. Bought in 1997 for $202,000 and rented out for $285 a week.

We still have it. Last valuation was $460,000 some months ago and it rents for $380 a week, but the rent is about to go up $10 a week.

Cheers,
Karen

]]> b469c58121bb0fbdd219beda02859324 Scully replied to the topic info on projected rent rises.... in the forum No Subject https://www.propertyinvesting.com/topic/4372244-info-on-projected-rent-rises/#post-4462627 Tue, 23 Mar 2004 13:51:24 +0000 Kay,

Thanks very much for those sites. Fantastic information.[thumbsup2]

Cheers,
Karen

]]> 8aa2b6af41b33c2f646dd3b477616da5 Scully replied to the topic Buying site unseen in the forum General Property https://www.propertyinvesting.com/topic/4371746-buying-site-unseen/#post-4458587 Fri, 05 Mar 2004 06:41:17 +0000 We have bought 1 property sight unseen and had no problems whatsoever. Same advice as most of the other posters here, however I probably would not recommend doing it for the 1st couple of IP’s. But that’s just me. It was good to have a bit of experience first.

Cheers,
Karen[:D]

]]> b4a3fa8cb2ab34ca49cb9dd48d858015 Scully replied to the topic Raising Prop Price in the forum General Property https://www.propertyinvesting.com/topic/4371638-raising-prop-price/#post-4457595 Wed, 03 Mar 2004 05:25:17 +0000 Alexander2 – If we only did small improvements, it probably wouldn’t be worth getting re-valued so quickly as we are looking for enough to get a deposit on another one. Having said that, a paint job and general tidy up to a place in pretty poor condition can really up the value if it’s in the right area.

Georgisj – That is exactly what we do.…[Read more]

]]> 9ccc9f1be1279c2915fa8d655b09bc22 Scully replied to the topic Raising Prop Price in the forum General Property https://www.propertyinvesting.com/topic/4371638-raising-prop-price/#post-4457592 Wed, 03 Mar 2004 05:02:40 +0000 We buy and then renovate our properties. The property is valued by the lender when the loan is approved, we renovate and have it revalued within about 4 weeks and use the equity gained to buy another one. The lenders we use have no problems in revaluing so soon.

We tend to do fairly comprehensive renos. We spend about $10,000 and do the whole…[Read more]

]]> eb028fc376849b9d31b3d8096478175f Scully replied to the topic How Do they do It in the forum General Property https://www.propertyinvesting.com/topic/4371683-how-do-they-do-it/page/2/#post-4457983 Wed, 03 Mar 2004 04:55:49 +0000 Sometimes I wonder about people who pay heaps in rent. Why not just buy a place. Well, that’s what friends of mine eventually did.

They paid (for 5 years) $530 per week. Not even a particularly nice house. Finally they decided they should buy a house to live in. They had to sell a block of land they owned to do it. Their repayments are…[Read more]

]]> 29aa732ed556b664f84462040df0889d Scully replied to the topic State of the market in the forum General Property https://www.propertyinvesting.com/topic/4371623-state-of-the-market/#post-4457506 Tue, 02 Mar 2004 07:47:57 +0000 Rugbyfan,

They’re in Forwood Avenue. All big blocks. Smallest is still over 900sqm. None of them are real flat, and a couple are pretty odd shapes (a creek runs straight through one of them).

I can tell you, if I was the owner I wouldn’t be all that impressed with the work done by the agent. Pretty poor auction all round really.

Cheers,
Karen[:D]

]]> 8efe79519bae73b1a51f6e5a5109a2a3 Scully replied to the topic State of the market in the forum General Property https://www.propertyinvesting.com/topic/4371623-state-of-the-market/#post-4457504 Mon, 01 Mar 2004 20:37:03 +0000 Rugbyfan,

Yep, they’re the ones. That’s our street. Damn shame too. Used to be lovely bush there, but, can’t stand in the way of development, I suppose.

Cheers,
Karen[:D]

]]> 74a7dfcbd2da140026f8b2af272fe04d Scully replied to the topic State of the market in the forum General Property https://www.propertyinvesting.com/topic/4371623-state-of-the-market/#post-4457499 Mon, 01 Mar 2004 07:43:17 +0000 There were 7 blocks of land at the end of our street that went up for auction on the weekend. We are in Sydney, and our suburb doesn’t often have any land for sale, so this was quite unique. The land has been getting cleared, roads built etc. for the past year. This time last year the RE’s were telling people that they would probably go for…[Read more]

]]> c6bc37705d22e1025ea3e86d807658a4 Scully replied to the topic Location of IP's in the forum General Property https://www.propertyinvesting.com/topic/4371641-location-of-ips/#post-4457621 Mon, 01 Mar 2004 07:37:32 +0000 Up until recently, all of our IP’s were in Sydney, where we live. However, since I have given up work we decided we would make our next few cash flow positive, therefore our latest one is in Queensland, and we will probably continue to buy in regional areas for a couple of years.

Cheers,
Karen[:D]

]]> 76dc0770479a5dfa212c526fb50ce6d6 Scully replied to the topic Is UNI worth it?????? in the forum Opinionated! https://www.propertyinvesting.com/topic/4371340-is-uni-worth-it/#post-4454995 Thu, 19 Feb 2004 04:16:11 +0000 I think it depends on the person whether it’s a waste of time or not.

I certainly won’t speak for myself. I left school in Yr 10, and had no intention of going to Uni, but my husband went to Uni and did Business Law. He lasted about 2 years before he dropped out. He got himself a job in a spare parts shop serving at the counter. Not exactly…[Read more]

]]> 186d6fad1b9d267ab4507cd92935b025 Scully replied to the topic Fixed Interest Rates in the forum No Subject https://www.propertyinvesting.com/topic/4371265-fixed-interest-rates/#post-4454490 Mon, 16 Feb 2004 12:31:29 +0000 We fixed for 5 years at 5.89% with St George in July last year.

Cheers,
Karen[:D]

]]> bf10ca234c3c2d45f6c9eba07c7de19e Scully replied to the topic who plans to buy in the next 12 months in the forum No Subject https://www.propertyinvesting.com/topic/4371268-who-plans-to-buy-in-the-next-12-months/#post-4454525 Mon, 16 Feb 2004 12:19:04 +0000 We’ll definately be buying at least one more this year, however this will be a very busy year for us, as we’ve now got an 8 week old baby[:p], and we will be concentrating on running and developing our businesses.

But one more for sure. Don’t know where yet. Depends how much we decide to spend.

Cheers,
Karen[:D]

]]> f7da96fb2927415b5adb8834ed232af8 Scully replied to the topic Should we help our kids to get their 1st property? in the forum Opinionated! https://www.propertyinvesting.com/topic/4371018-should-we-help-our-kids-to-get-their-1st-property/page/2/#post-4452922 Wed, 11 Feb 2004 06:22:05 +0000 We have a 7 week old daughter. We have opened a bank account for her which we are placing money in every week. When she is old enought we will be educating her on how manage this money i.e. some to invest, some to spend, give to charities etc.

I really want my child to have a better understanding of money than I had, and I believe the earlier I…[Read more]

]]> fc4a4ff094fd903d4cd3fe1043e1c47c Scully replied to the topic Is the Dream Gone.... in the forum General Property https://www.propertyinvesting.com/topic/4371161-is-the-dream-gone/#post-4453869 Wed, 11 Feb 2004 04:46:55 +0000 If you really want something, you can generally find a way to do it.

I bought a house with my then husband when I was 22 (got married when young and stupid). got divorced 4 years later, and sold the house for exactly the same price we paid for it. I didn’t have the money (or motivation to find it) at the time to buy him out. I had wasted so…[Read more]

]]> 07723de1d8cf2b21cdeb77b1db23c444 Scully replied to the topic Sydney Property Manager in the forum No Subject https://www.propertyinvesting.com/topic/4371111-sydney-property-manager/#post-4453593 Tue, 10 Feb 2004 03:53:02 +0000 Our 5% is all inclusive, no hidden charges. We found the best way to get a property manager was to select a handful of agents, and make appointments for them to come and view the property, 15mins apart from each other. They basically had to sell themselves to us, and they quite often meet each other as they are coming and going. They really do…[Read more]

]]> 7a8edc5d485bed740898e224585a0307 Scully replied to the topic Sydney Property Manager in the forum No Subject https://www.propertyinvesting.com/topic/4371111-sydney-property-manager/#post-4453590 Mon, 09 Feb 2004 08:02:36 +0000 I definately wouldn’t be paying over 7%. We pay 7% for one of ours in north west Sydney and 5% for 2 (managed by different agents) in the Eastern Suburbs. Negotiate as much as you can.

Sorry, can’t help out with a PM on the North Shore.

Cheers,
Karen[:D]

]]> 6ef0fb41525f5ecc61b414c0f0e24a7f Scully replied to the topic Positive Cashflow harder now.... in the forum General Property https://www.propertyinvesting.com/topic/4370819-positive-cashflow-harder-now/#post-4451223 Thu, 05 Feb 2004 05:07:50 +0000 We found a property on realestate.com.au that fits the 11 second rule less than 4 months ago. They are out there.

Cheers,
Karen[:D]

]]> c07b6c4131b292c546303ea17524f355 Scully replied to the topic From 0 to 1 property in 4 months! in the forum General Property https://www.propertyinvesting.com/topic/4370354-from-0-to-1-property-in-4-months/#post-4447176 Thu, 05 Feb 2004 04:59:16 +0000 Actually while we are on the topic of rockhampton… I will need to find a real estate agent to go through for rent in about 5 months time. The best deals I have found so far are around 9% fees, probabley cause I only have 1 property and can’t cut any deals. Has anybody done better that this?

We use Raine and Horne and they charge us 7%.

Cheers,
Karen[:D]

]]> e487b1fb6eb046c8e177d26bab044d0f Scully replied to the topic What do u class as a millionaire... in the forum General Property https://www.propertyinvesting.com/topic/4370996-what-do-u-class-as-a-millionaire/page/2/#post-4452753 Thu, 05 Feb 2004 03:38:02 +0000 1. Definately not controlling $1mil of property..

2. Equity of $1mil – yes

3. Earning $1mil pa, definately

And in Aussie dollars. We are, after all, in Australia.

Cheers,
Karen

]]> 8e2bfd34c0db246c81eef17f9fc03d27 Scully replied to the topic 101 Plus Penny pinching R/E Tips in the forum General Property https://www.propertyinvesting.com/topic/4370784-101-plus-penny-pinching-re-tips/#post-4450914 Thu, 29 Jan 2004 07:53:31 +0000 Hi Westan,

Check out their website – http://www.interestsavers.com.au

Cheers,
Karen[:D]

]]> df147a78ccc199a6c46501faeacd147d Scully replied to the topic Property Investment Seminar's in the forum General Property https://www.propertyinvesting.com/topic/4370766-property-investment-seminars/#post-4450734 Thu, 29 Jan 2004 04:11:16 +0000 Hi David,

Sorry, getting back to your original question. I attended an Ed Burton seminar (free) a couple of years ago. To be honest, I wasn’t that impressed. Nice guy, but didn’t seem very professional. Doesn’t tell you anything you can’t find in books anyway.

I certainly wouldn’t spend any money to see him.

Cheers,
Karen[:D]

]]> 8e9289a7616a154977a544de8d04ed22 Scully replied to the topic 101 Plus Penny pinching R/E Tips in the forum General Property https://www.propertyinvesting.com/topic/4370784-101-plus-penny-pinching-re-tips/#post-4450912 Thu, 29 Jan 2004 03:40:19 +0000 There’s a software package that you can buy. You put in all of your bank statements for the last 4 years, and it picks up all the mistakes in them. e.g. charged too much in interest payments etc. Then you can go and claim it back from your bank. If you don’t find mistakes which add up to more than the software costs, then they give you your…[Read more]

]]> 4db4488bed039c2de5ff280a3af6969e Scully replied to the topic Q 4 sis in the forum No Subject https://www.propertyinvesting.com/topic/4370809-q-4-sis/page/3/#post-4451077 Thu, 29 Jan 2004 03:18:10 +0000 SIS, I’m surprised that you even need to list these deductions or explain how you minimise tax. This is simply how it works. Why on earth would anyone invest in property and not claim everything they are entitled to?

Yes, if I have a property in another state, I am entitled to visit that property to inspect it, and therefore claim this with the…[Read more]

]]> f064d80cc1cbdcc8b78a3373cbaed8cc Scully replied to the topic If you bought this... in the forum No Subject https://www.propertyinvesting.com/topic/4370757-if-you-bought-this/page/2/#post-4450674 Wed, 28 Jan 2004 08:08:23 +0000 A church which had been converted into residential sold in Sydney recently for $800K. Quite nice, kept lots of original features (stained glass windows etc.) and had been converted warehouse style. Most other houses in that part of the street tend to sell for around $600K, so there definately must be some “originality” appeal for people.

Cheers,
Karen[:D]

]]> e22301b69638e8661b5b4b25ec1fac1e Scully replied to the topic What type of Investor are you? in the forum Heads Up! https://www.propertyinvesting.com/topic/4370717-what-type-of-investor-are-you/#post-4450306 Fri, 23 Jan 2004 07:50:17 +0000 Hey there,

I scored 36 – aggressive investor.

Karen[:D]

]]> b26d1270ff555d34abebfe228124a058 Scully replied to the topic tenant incentives in the forum Help Needed! https://www.propertyinvesting.com/topic/4370643-tenant-incentives/#post-4449669 Fri, 23 Jan 2004 07:42:47 +0000 I was never offered any incentives to pay my rent on time (when I was renting), and so far we have never offered any of our tenants anything to pay their rent on time (over a period of 6 years).

If the property has been chosen well then there shouldn’t really be much trouble getting a tenant who pays on time without incentive.

One of our tenants…[Read more]

]]> 8289b9246bbc88b09c07c4fcba5f72f7 Scully replied to the topic My head is hurting! in the forum No Subject https://www.propertyinvesting.com/topic/4370716-my-head-is-hurting/#post-4450300 Fri, 23 Jan 2004 07:32:25 +0000 I wouldn’t be selling anything. Every time we think we can’t borrow any more money, there’s always some sucker out there who’s willing to lend it to us. And if the properties are all performing well, I definately wouldn’t consider selling.

Just my 2c.
Karen[:)]

]]> 54080db2037c9821c8639b6dd8e60572 Scully replied to the topic WA -ONE near the beach or TWO further inland?? in the forum General Property https://www.propertyinvesting.com/topic/4370587-wa-one-near-the-beach-or-two-further-inland/#post-4449264 Wed, 21 Jan 2004 04:19:58 +0000 Hey Luke,

You’ve gotta have your fun. We’re in the same situation, though a few years older than you. We’d probably have 100 properties if it weren’t for that damn rally car we’ve got! But I can’t imagine not competing in motor sport. Sure – high cost but high fun.

By the way, my 2c would be to buy the beachside property. We bought…[Read more]

]]> abbf2dc2dfc67a1a85b8f44a4d664fd6 Scully replied to the topic HOW GOOD ARE U in the forum General Property https://www.propertyinvesting.com/topic/4370626-how-good-are-u/#post-4449536 Wed, 21 Jan 2004 04:03:06 +0000 Hi Nailwog,

We had an IP in the city which we renovated to create “instant equity”. The market was quite slow at the time. We then leapfrogged into 2 other IP’s in the city. It was very successful.

Due to our circumstances changing (we now have a 4 week old baby, therefore I am no longer working), we have recently bought an IP in a regional…[Read more]

]]> c1ae5b1297bff5507f6b4b401c5c0351 Scully replied to the topic Seminars, Gurus, etc. in the forum Opinionated! https://www.propertyinvesting.com/topic/4369687-seminars-gurus-etc/#post-4441763 Thu, 18 Dec 2003 08:50:29 +0000 Felicity,

I agree. Definately possible to make big money in bear market and occasionally in a sideways market. Don’t it make you feel good, too!

As for seminars, my husband and I had one IP, but didn’t really know what we were doing or why we had it. We just figured we should. We attended one seminar (a 4 day one), something neither of us…[Read more]

]]> 4ef2c311eb9c9c37e1ad520e275d1eb5 Scully replied to the topic Quantity Surveyors in the forum General Property https://www.propertyinvesting.com/topic/4370058-quantity-surveyors-3/#post-4444996 Thu, 18 Dec 2003 07:13:52 +0000 Hi Lynette,

A good quantity surveyor that we use in NSW is BMT & Assoc. You would need to speak to them regarding giving discounts on multiple properties (we have only ever used them for one at a time), but perhaps they may be of help to you.
PH (02) 9241 6477
info@bmtassoc.com.au

Cheers,
Karen[:)]

]]> c5e2a88794827e85c17e0df2b84e3e7f Scully replied to the topic did you know? in the forum General Property https://www.propertyinvesting.com/topic/4370057-did-you-know-2/#post-4444980 Thu, 18 Dec 2003 06:57:50 +0000 Hi Rodders,

I understand where you’re coming from. Our accountant is fantastic with tax minimisation etc, but when it comes to investing, particularly in property, we have been able to teach him a few things. He doesn’t have an investment property as he’s never gotten around to doing anything about it. Not to say he’s completely useless. He’s…[Read more]

]]> 9e5bb7fe97a5c7700c6781cba7628089 Scully replied to the topic How Many IP's in the forum Forum Frolic https://www.propertyinvesting.com/topic/4370024-how-many-ips/#post-4444670 Wed, 17 Dec 2003 02:57:50 +0000 I have 4 IP’s – buy and hold. 3 in Sydney. 1 in QLD.

Cheers,
Karen[:)]

]]> 5912691cf6587cab114c73571c66cd0f Scully replied to the topic Which City/Suburb you live? in the forum No Subject https://www.propertyinvesting.com/topic/4369744-which-citysuburb-you-live/page/3/#post-4442256 Sat, 06 Dec 2003 10:09:04 +0000 I live at Turramurra, on Sydneys north shore.

Karen

]]> 163b036662c060800af28ce7fe857ddd Scully replied to the topic Search for properties during Christmas & New Year in the forum No Subject https://www.propertyinvesting.com/topic/4369843-search-for-properties-during-christmas-new-year/#post-4443215 Sat, 06 Dec 2003 09:54:18 +0000 Hi there,

I have bought most of my properties in Nov/Dec period. I have definately found that the Xmas period tends to be a great time to buy. There are many people out there wanting to exchange contracts before Xmas, and therefore some quite good deals to be had.

I’ve found the week before Xmas is really good, as some vendors are getting a…[Read more]

]]> 21c0e505a85ddffad4c1764623edb034 Scully replied to the topic Virtual property investing in the forum General Property https://www.propertyinvesting.com/topic/4369764-virtual-property-investing/#post-4442791 Sat, 06 Dec 2003 09:37:56 +0000 I’ve just joined up, so firstly – hi there!

We have a property interstate which we have never seen (and in fact, have never even been to the city it’s in), however do know a number of people who live there, who we trust, who gave us excellent advice as to the areas to buy in. We bought this property after seeing it on the internet, seeing photos…[Read more]

]]>