I was interested in property but my husband was not interested (he just signed where I asked him to). LOL

We did a minor reno on one unit, then on a house.

THEN we found a place that needed a full reno. He got very interested and worked out the costs, started looking on Ebay for stuff etc. After that one he was keen and started looking for the…[Read more]

scha9799 wrote:
All the above points people mentioned are mainly focus on the rent and revaluation.

I would also look into how much the holding cost for un-renovated and renovated property ? and what's the projection in 5 years time ( of course it's hard to estimated)

Because rent greatly affects holding costs. Holding costs of an…[Read more]

My comments still stand. Do the numbers.

If you can't borrow the money cash is fine but it's not free money. You are forgoing the money in your offset so you are paying tax on that. BUT it's actually costing you more as it's not deductable.

I'd do it now. You may not even sell in 5 years time and the reno would have paid itself off in that time…[Read more]

If you get $60pw extra that's say $50pw clear = $2600pa 

The reno will cost $1300 in interest per year. So you will be $1300pa in front + depreciation.

In a few years will it be bad enough to restrict rental increases? With a newly renovated property I would expect rents to rise with inflation (at least). So in 5 years time the unrenovated…[Read more]

Some people love the Reno Kings. Me- A can't stand people who are loud and yell all the time. I went to a 2 hour workshop and that was enough for me.

Can i ask- Why reno's if you are not particularly handy?

There are lots of ways to make money in  real estate- just curious.

Scott- where is it "mandatory" to do an owner builders course?…

Where are you located?

Cherie Barbers course is great. Not cheap though.

Do you have any skills or just looking to manage the reno and not do any of the work yourself?

Are you looking for buy/reno/hold or buy /reno and sell for profit?

Try     meetup.com  and type in property or investment Perth. I'm sure they'll have something.

You don't. They will not sell it to you.

The bank will send it to auction. It is the only way to prove they sold it at market value.

My bank was stuffing me around on a fire damaged home that was $15K over land value.

They came around eventually, a week before settlement.

Why not paint them white with tile paint?

You won't get smashed by CGT unless it have MASSIVE growth in the next 12 months.

You get a valuation done before you make it a rental and you pay CGT on the growth from then.

Hard to answer as you've given very little detail. What is the house worth? Is there deductable debt, is it likely to experience CG in the next few years etc etc.

Where did you get the "property expert"?  What makes them a property expert?

Where are you located (Damn I get sick of asking that- wish they'd fix that on everyone's name. It's so annoying.

There are lots of places you can go without paying high fees.

Do you intend on buying the new house tio live in?

As Terry said- do the numbers. That will tell you whether it's viable.

Getting to the exciting bit now!!! Good luck.

When renovating IP's you need to remember the ONLY reason to renovate is to make money, in the form of equity and/or yield.
If it doesn't increase one of those don't do it.

Scrub your "nice to do" things off, especially for a first reno. It's too easy to go over budget. I had the opposite problem…[Read more]

You are on a property forum so I'm guessing you want to invest in property. Yes?

There are many different areas to property investing. Do you know what you are interested in? Do you have goals?
Maybe read a few property books to see what some of the strategies are and what interests you.

I found financial advisers to be useless. They just push…[Read more]

Scott No Mates wrote:
The only upside is that if you do make a capital loss by selling a non-performing asset, the loss can be carried forward indefinitely and offset against another capital gain when you come to sell a highly performing property or your share portfolio.

Doesn't sound like an upside to me. I'd rather not buy a -geared…[Read more]

Your question is too broad.
I could rattle off a list where I buy but that doesn't mean those areas are suitable for you.  Tamara says be careful of Mt Druitt. I agree but I would and have bought there.

You need to do some work yourself and narrow it down. Mtt Druitt and the ones Tamara lists (except Parramatta) will give you a good rental return…[Read more]

Personally I wouldn't rush out and spend $$$$ on a course unless you are planning on doing lots of reno's.

We've done a few. I looked at Cherie Barbers course only because we are thinking of moving to buy/reno/sell and her course has lots on how to target areas etc. We do a lot of the work ourselves. She concentrates on outsourcing work so won't…[Read more]

This is NOT legal if you are in a defacto relationship.

If you are in a defacto relationship and one partner has had the grant (or purchased a PPOR previously) you are not eligible.

Please keep us posted., I'd be interested to know what their solicitor says on Monday.

I wonder if they've given the tenants notice? That would be my worry.

good luck. Worse I've had is the new dishwasher swapped for a cheap one. I had the brochure photos so no dispute. They dumped the new one on the back step one hour before exchange.