Thanks for your replies everyone.

I did it myself except for the tiling and new sink.

I would post pictures if this site allowed it. I don’t have anywhere I can upload it to for a link. The picture hosting sites are too confusing.

If I was going to get the floor tiled too, would the tiling come before the new kitchen and go on top of the tiles?

Or do the kitchen benches/cabinets/cupboards get put in first, and just tile around where they have been put?

I think it can keep rising steadily, particularly if interest rates are cut early next year.

A whole new group of speculators and tyre-kickers who would be sidelined now are able to enter the market when rates drop meaningfully.

Can anyone point to a time when house prices have fallen WITHOUT interest rates rising first (i.e. while rates have…[Read more]

How to take it to the next level from duplexes/townhouses/small subdivisions to bigger developments with higher margins….?

Do you ever put a new kitchen in?

If so, how much does that cost?

Thanks for your response – much appreciated. I wish my broker had’ve sent me to one of those banks then, because I could’ve saved 6 months.

So with commercial lending, what would a typical LVR be for a multi-unit construction (e.g. 10 units)?

I put it on there for $100. He talked me down to $50, but I didn’t care, I told him to pick it up and give the money to the tenant. I let the tenant keep the money. I just wanted the metal gone.

You sound like you’ve got a fair bit more than I did though – maybe a couple of hundred dollars would be appropriate….?

mate i had the same situation with metal from a carport.

put it on gumtree and someone should ring within the hour.

people love scrap metal.

G’day Oscar.

Is rent from properties your only income? If so, how do the banks treat your income when you apply for loans?

Wow thanks for all the great responses everyone.

I don’t understand the banks’ approach to this…. why isn’t rental income considered to be more secure than a salary? Someone could get sacked at any moment, but a house would rarely burn down….?

Also why would AMP have a policy of not lending to anyone with more than 10 properties?

Everyone's responses have been very helpful – thankyou!

I just wish I could post a plan of it.

What about the idea of having only 12 square metres as a backyard?

Where is somewhere I can upload pictures to off-site?

What a shame – there I was getting my hopes up!

Picture upload function should be easy.

To the administrator, it would be really good if you could upload pictures from the computer, not just a link from a website.

Read the Development Control Plan

Would you need to amend the strata plan to reflect the new configuration?

I'm thinking of buying an apartment in Santiago.  To the original poster, if you ever come back to the forum, I'd appreciate any info you can share about strata laws (or the Chilean equivalent) in the country.