Hi Tonju,Have lived in the area for 22.years.Had one IP in kallangur .It was a cosmetic reno and had good income ,but fairly low cap growth.Kallangur is an older suburb originally part of pine rivers shire,now moreton.Median price $350K;1/4growth -.4 12months 0.Three yr 3.9 Five yr 7% Ten yr 12.2%.Med rent $330/wk.Bridgeway is the newest premium…[Read more]

Hi Bexs,you mentioned you had agood relationship with your sparkie.My sparkie can buy everything cheaper on his trade account than i can,believe me i tried.How i save money is working with him as his t/a running cables,covering cables with the plastic assembling fans under his instruction.He doesnot add any % to purchases and only charges an…[Read more]

Woodie,put your steve mcnight hat on.Try and take the emotion out of it.As scott said it will be 10 -15% below par with others.Being walking distance to station will offset noise.You said it is in a good area.Do your research,whats happening in the area.Find outas scott said whats happening with the line,are the trains increasing etc.Culdesacs are…[Read more]

REInv thats a valid point .The 3rd family that rented my first IP have been there 7.5 yrs and though we have had some disagreements,have been able to discuss the issues and work through them.We must both be doing something right.Friend sent me a quote."BEING A PM IS THE EASIEST JOB TO DO BADLY AND A DIFFICULT,BUT REWARDING JOB TO DO WELL.

Hi iball,my neighbour had his old driveway resurfaced.As long as it is a solid base they clean it first,repair any imperfections then respray it with anew membrane.Some are concrete based and others are a flexible polymer.There is a heap of products around,do some research then go down to your local resurfacer,they will have a display of different…[Read more]

Hi wannabe,have a friend in northside brissie in similar situation,he sold his 1st home that he had cosmetically renovated and had rooms rented out.Bought 2nd home 3brm with approved granny flat and rents the 3 brms out.L shaped house, granny flat attached on end of L, but separated by breezeway.Separate entry and driveway,carport.He says its…[Read more]

Morning SF,my eldest son has similar ideas to you and i congratulate you on your plans.One of the more experienced forumites may be able to help you with the structure finance set up with your Dad.I will be helping my son with some equity .Re FHSA which we've just opened.You can do it in 2yrs 2wks ie min $1000 3rd wk jun2010.reg savings plan…[Read more]

Karen,people do rent these types of places out all over aus.I rented one in newcastle 22yrs ago.Floor to joists war 2250mm,but it didnot worry me, i was single,studying,part time working,it was cheap rent.Scott is correct,it would have been illegal,i donot know why people spend $$$ turning downstairs into living areas and not spending xtra $to go…[Read more]

lopetha wrote:
Anyone?

Hi lopetha,everyone must be shy,if its any help i use the professionals for my IPs on the northside.From my experience though PMs vary from office to office even though theyare part of the same group.I believe it comes down to the senior person running the rental division,re communication,how quickly they address tenant…[Read more]

Brian thats a sizeable reno at 250k

Hi Pete,property investing isnot  always easy people love to talk about their successes,but not so much about their failures or break evens,thats the nature of most people.1.buy steves book or attend seminar$40.2yes. 3.your local property finance broker.good luck

Hi Leharna,welcome to the forum.My alarm bells would have been ringing way before 6mths for a property inspection.My property manager does checks every 17 wks and any questions i have things i ask for are promptly replied to.It can be difficult to find a good one.Obviously you're in vic and a property manager does have a duty of care and…[Read more]

Lilo,we bought abank repo or mortgagee in possession house in '99 in brisbane.Found out it had been on the banks books for 8months.No one wantes it.An 'ugly house' with potential.Did the building inspection 3 times with building inspector and twice more with two building mates.Made a ridiculous offer and agent rang back 1hr later and they;d said…[Read more]

Hi Ryno,I remember our tax depreciation/capital allowance person had a guide she worked off.But why not ring your lender and ask for a valuation.Not a drive by,but a room by room.Most do a free one per year,if not mention you're looking for an IP,and are seeing how much eqiity you now have and are going to borrow through them again.good luck

Hi James,it's perfectly normal to think and research the worst case scenario and then try and plan for it.Our IO loan was only 5 yrs standard bank policy and our IP needed some major work so i renegotiated the loan,but could only get 5yrs.Have since found some lenders do 10 yrs as Richard mentioned.With most lenders you can still pay in extra on…[Read more]

Hi Rosemary,It's a great idea going over there as Jason mentioned earlier.Jason and Nigel have both made good comments.Personally as a procrastinating conservative investor i wouldn't invest o/s or as a novice either.Best friend lives in Fresno California and he came home for Christmas,has lived and worked there for 8 yrs.Grilled him for a…[Read more]