I have purchased most of what I need I just need to install most of it. I’ll be putting in a kitchen in a few weeks. That will be the first big thing finished so I’ll post some before and after pics once I’ve…[Read more]

The first is that the proverbial is going to hit the fan shortly in which the best case is a flat line in growth for the next 18 – 24 months, worst case is a decline in prices. I'm no doomsayer, nor am I a fortune teller, but I think if China goes down the gurgler and…[Read more]

I'm trying to do literally everything myself except for the required sparky and plumber. It's slow going because work keeps interfering and this is my first time as well so I'm making it up as I go.

Where's…[Read more]

Jamie, you're a genius. You've planted the seed in my head that I will be able to reno places full time if my wife returns to work. I'd have to deal with the kids and home chores etc as well, but that's a small price to pay if this can help propel my portfolio at a faster…

If I'm building a portfolio with simple cash flow positive properties I don't have…[Read more]

Are you going to pull all of the old stuff and tiles out yourself? I'm going to do most of the chump work myself so that I can cut down on paying $100/h for unskilled labour.

Cheers,
Tom.

I’m under the impression the rules are different if you aren’t actually subdividing. Then perhaps your property would become cash flow positive and pay down your principal if that is what you desire.

Plus there would be less headaches than if it were tenanted.

What state are you in? I’ve no idea about the other states, but I know in WA you can rent a gf to whomever you so desire. There are limitations about…[Read more]

Provided everyone is agreeable and it is well documented legally I would run with shape's suggestion personally, then add in the Reno and refinance Colin suggested.

Of course their economy is a different kettle of fish to ours and probably accounts for the poor growth, however it does show that it's not just down to supply and demand.

Cheers for the article Richard!

I've just emailed you chasing a copy of your interview.

Cheers,
Tom.

I’m chasing a 6 month secondment atm into a contracts specialist position so we’ll see how that pans out before I make any rash…[Read more]

Forgive me, I don’t think these numbers are correct but they are ballpark.

It's a 3×1 plus the toilet. 500sqm block with probably 110sqm house in a working class family suburb.

i spoke to a friend of mine today who suggested bricking the second toilet shut , opening the wall between the two rooms and turning the second toilet into a shower recess. If we do it this was it'll be one of those corner units I mentioned…[Read more]

Get a kit home. Some of them have free delivery, if not negotiate a reasonable price. Then find yourself a handy man or two, hire them for 2 weeks, fly them out there yourself and get it setup. You'll obviously need all of the usual gas, water…[Read more]

If they have significant funds they should do what the American super funds are doing and collateralise residential rents. I've no idea if this is legal in Australia but I hope to hell that it isn't. I don't think large scale investors should be allowed into the residential markets as it would have too…[Read more]

I'm quite sure moving the wall would require a fair amount of effort and cost but I've no idea on the impact to price though. I couldn't imagine it being huge though. More bang for buck is going to…[Read more]

Yes, you're all correct and I was thinking about the FHOG not CGT.

I don't think this bank would have been very accommodating for an LOC. it's been a mission as is because I think they double as the brokers for one of the second tier banks and then throw in their own cash on top.

The reno will be lipstick and bubbles. Upgrade the kitchen and…[Read more]

I had a mate tell me about it when they were listed at $28 a share or something like that. I hope he bought some because I didn't lol.

I'm thinking it's a good way to start a portfolio. For example if I buy a place for $400k then renovate, pay the $100k to subdivide and put up the kit home, sell the original and keep the new place with $100-150k debt. I certainly wouldn't be able to keep a…[Read more]

Any reno would only be aesthetic, say $5k max hopefully. Plus whatever it costs to put up a coue of walls. I know a couple of ceiling fixers and chippies so I don’t envisage this…[Read more]

I’ve definitely git a lot to think about before making any decision but I think short term I’d prefer to focus on maintaining my lending eligibility which will go out of the window if I become self employed.

I may revisit this idea in 12-18 months.

Better to focus on building a property portfolio with the aim of no longer working for the man at 40. Seems doable. My job is cushy as so I don't think I'll find anything that pays as well with the same work life balance. I hadn't even thought of the longer term impacts of lost…[Read more]

It’s currently going through rezoning, same as Craigie or Quinns Rocks a little while later. I was looking in Craigie originally but I found the prices there unrealistically high.