Find out if there is a bank in Ceduna, and try to go with the local branch.  The local manager will be more aware of the local economy than someone else.  Some local managers are able to use their discretion a bit re value of local property, because the bank knows that in very small, remote communities, local knowledge is much more up to date t…[Read more]

You have an amazing story, Holl.  Can I ask how is it that you were liable for the debts which your brother in law incurred in your husbands name without his permission?My husband and I had to live very frugally for a period of about 18 months.  I am always grateful for the experience now, as I take less for granted, and have skills that some o…[Read more]

My own electricity bill is nearly $1000 a quarter.  I don't pay my tenant's electricity bill, only water rates which are a few hundred dollars a year.  Local govt rates, landlord's insurance are important things to budget for. Re maintenance costs, I find that you can go a long time without spending any money, then the hot water system will bl…[Read more]

Paint, I reckon is the single best value for money improvement.  Depending upon the construction of the house, sometimes the addition of a new window to open up a living area can be well worth the expense. 

Wow Duckster, next time I'm having trouble remembering how to apply all those finance formulas I learnt in Uni, I'm sending you a PM!  That'll save me re reading the 800 page text book on my bookshelf (which i probably really should re read).S

We called the asbestos authority in our state and found that you CAN do it yourself under certain circumstances.  You could do it yourself if it was your property, but if you were going to do any asbestos work on someone elses property you would need a licence.  So check with your local regulator – they can tell you what the rules are where the p…[Read more]

I should add solicitors fees, stamp duty and, importantly, agents selling fees and advertising for sale.

connection of services $  ?? $20K wouldn't do the job here for things like DA, surveying and connection of water and electricity and perhaps gas.  Other things the builder might not be including:  Driveways.  Do you need car accom?  Is there a Town Planning requirement for car accom?  Fencing requirements?  Insurance costs, rates, site prepara…[Read more]

Glad to hear he has real estate.  Too many FP's flog the sharemarket.  With 30 IP's he should have some good advice and some handy knowledge.

Butt out.chances are they won't get the money.If they do get the money and it is a disaster they will learn a valuable lesson.they are young enough to recover from this mistake.You won't win any friends by interfering.  I know that you want to help, but sometimes people just have to learn their own lessons.  It would be different if they had a…[Read more]

We had a job done recently where drought related ground movement had caused the toilet pipe underneath a cement patio to seperate at a join, allowing grass roots into the pipe, which then of course blocked the pipe.  The plumbing work, including repairing the cement that had to be dug up cost $1000.

Well, I might leave suggestions to a few of the more experienced people here.  But congratulations on clawing your way out of the hole.  There is certainly hope for your family with your careful savings habits.  And your timeline might just see you buying at just the right time.  No rush.  Keep saving.  Many of us here are watching and waiti…[Read more]

1980's built home, brick ends, hardiplank front and sides, 3 bed 1bath.R&M costs over four years $2K, $500, $470, $1000.Place has been undermaintained (ie has lost condition over the 4 years, only emergency work and one improvement projct have been carried out).  To bring up to same standard at the start of the eight year rental period would re…[Read more]

Yeah, I feel like that now, too, Scuz, but sometimes it isn't until that house of cards is shaking that you realise just how precarious a situation you are in.  I have solid management experience and accounting training.  To my advantage was a sophisticated spreadsheet which I designed that had all sorts of what if scenarios, and a cash flow ti…[Read more]

I'll second skuz's comment.  I've been all excited and went to contract on something that we thought that we could afford, to find the max LVR was different from what we were expecting.  Rather than let it go, I tried my hardest to get finance, spending money on valuations on everything we have, and DA before we even owned the place.  It was…[Read more]

skuz,There are only about 7 other properties for sale in the area.  Some are more modern brick homes, and one is cheaper, renovated but less of a house than mine.  I think we already stand out because of the excellent shed space, and the price range being pretty sought after.  My only concern would be to ensure street appeal by tidying the fr…[Read more]

blogs wrote:

SHales wrote:
Hi Blogs,We are able to service our current debts at whatever the interest rate got to before it started to fall without a problem.  My plan is not to take on any negatively geared debts, and to ensure that when we buy again, the whole thing is positively geared, and likely to remain so when interest rates return…[Read more]

blogs wrote:

SHales wrote:
Don't worry, TonyB, we haven't waited for ever and already have a few properties under our belt.  Our trouble at the moment is lots of equity, not enough income to service a negatively geared property loan. 

Shales-no offense but if you dont have enough income to service your negatively geared debts at record low i…[Read more]

A friend painted cabinets with the proper paint.  The wood cabinets went fine, but the paint chipped off the melamine cabinets very quickly.  This looked pretty bad because she painted black over white, so every little chip showed up really easily.  She used the best quality paint that she could find for the job and prepped it all properly. 

thanks both for your comments.The property I am talking about is in an inexpensive area popular with young families and people who want to live a little bit out of the main town (Toowoomba).  I see it as prime FHO ground, which is why I'm toying with the idea of selling it now, in this overheated FHO market.  Perhaps I should talk to my f…[Read more]