Thanks Manoj… very help ful info…..

The loan for this IP is with the ANZ….They have already told me They dont do internal inspections for valuations… Do I refinance with another bank????[inlove]

Snowflake

Thanks for the info fArn… One way to find out is????[inlove]

Snowflake

Sorry to be a ” sore contributor” for the first time but I have to say:
1. I cannot believe some of the things people do to save a buck… Wouldnt you be better off putting your time and energy into research or education or investing….
2. Westan..please tell me your not serious about the Church thing!!!!
3. Ebay… you cannot sell anything on…[Read more]

HEY FOUNDATION

THANKS >>>>>>>>>>>

NOw any idea if I can get the same sort of info for a specific suburb… I dont want to pay for a residex reportetc…. Is just a 5 year average I am after…..

P.S thanks for chatting![inlove]

Snowflake

THANKS RED-ROUGE[inlove]

It was as I thought….. so this makes me question, If you refinance your first IP to get the 20% for your second IP, you will increase the LVR of the first IP to above 80%, then you have to pay LMI again when you refinance correct? ….How then do people get around that unless they spend their own money paying off IPONe…[Read more]

Hi guys… help me to understnad this please…… I recently got my bank to do a valuation prior to refinancing for a reno…Problem is they never even went inside…..Now that the reno is done I thought I hsould get another valuation but my initial thoughts are… if they wont look inside to see the improvement… how can i get the new…[Read more]

thanks Frini

We are almost done with the reno: here are the details in case anyone is interested:

Bathroom: all self installed with lots of “expert” fathers and father in laws help -ex-engineers love to be in charge and they are always after perfections . Total demolish including palster on wall right down to bar wall studs. We demolished an…[Read more]

I am currently doing a reno in outer melb. area. I am interested in the frefinance option for a buy-reno-hold strategy but am a bit “dumb” in that area….Can anyone spell out how this works in real life…. even if I refinance the loan (due to increased house value) and use it as a deposit. I will have to pay that back through the new laon…[Read more]

As many of you know I am in the process of a kitchen and bathroom reno and have posted several times on the issue of kitchens.

We are in Melbourne and go a quote through a professional kitchen caprenter who we thought would be quite expensive and it turns out her is changing us $6000 for a large kitchen and includes GST and installation.…[Read more]

Hi Andy,
Does this include renos for a property that is to be sold? I am unsure whether a second hand kitchen would attract the same resale value to a new one????[inlove]

Snowflake

Hi Andy,
Does this include renos for a property that is to be sold? I am unsure whether a second hand kitchen would attract the same resale value to a new one????[inlove]

Snowflake

I know a lot about Mildura–have you ever been there?
1. prices have increased a lot over the past 6 years…..now have stabilised. You wont get anything in your price range unless it way out of town.. Good rental makret for transient people…..You either have to but close to town…townhouses there are lots of…… For epople that have been…[Read more]

This would be my suggestion:
1. Dont estimate the value of your property. Get a formal valuation from your bank and then look at refinancing options to pay of exisitng personal debts.
2. Talk to an accountant-straight up….He may siggest getting an interest only loan that will reduce your repayments for a while until you get sorted and are in a…[Read more]

You comments have bben great-thanks.. However I wish to comment that the house is receiving other major renovations including a bathroom and garage and deck etc….It has been an IP rented but we will look at chashing in and selling over the next few years to invest elsewhere….so does this not warrant spendin g a bit more on a great kitchen and…[Read more]

thanks guys.. some good strategies….Just to let you know (esp. DAZZLING) I have not signed anything just mearly enquired with the anz as I was happy with their service on an exsiting loan until this issue poped up and upset my balance….Here is what I have decided to do…

My father in law will give us the money via his line of credit. So we…[Read more]

I’m in the same situation:

1. bought the house fairly run down (cosmetically it needs a kitchen and bathroom facelift.
2. IP is in great location to shops and train and freeway.
3. We are doing it up for the upper rental market. New hard wearing kitchen and applicances and new bathroom and painting and car port. Cost will be about $15-18000. Will…[Read more]

So from what you are saying:
1. I can still claim repairs even when they were done/bought when the property was not tenanted…..
2. From a major kitchen and bathrom reno…what things would constitute a repair versus improvement. For example: we are putting in new bth and vanity to replace old one that is totally unusable… is this a repair or…[Read more]

Hi Cameron

Ho[blink]w would you organise 85% without LMI?

Snowflake

Hi Handy Man

The room is 2.4 x2.4 approx

When you enter, there is a shower on the left and then a toilet in the top left corner and a vainty staight ahead as you walk in with a window above it. The problem I have is that the length between the whoer and toilet is 2.4 meters which wont fit a full bath and toilet. Options may be moving the…[Read more]

Bob the Worker!

No need for rude comments really! As you can tell from my “comic icons-” I’m with stupid”…I’m just a newby wanting some help….As the saying goes, if you cannot find anything nice (orconstructive in this case) to say then its better to not say anything at all……[chill][withstupid]

Snowflake