The suburbs of Mt Druitt (2770), Tregear, Bidwill, Whalan etc all have housing commission houses.
I
You can look on RPdata to see how many housing commission nearby. There is a map somewhere that shows the HC houses in red. Can't remember where it was.
Look at the neighbours houses. Ig the street looks well cared for it can be a goer. When going…[Read more]

In addition to the great advise above.-
When buying newly built properties check the price. They can often be over priced. Investoprs like them becvause they get good depreciation but this doesn't apply to you.
Look in the area for similar sized units that are 5-10 years old./ How much more expensive is yours. Because in 7-10 years time you are…[Read more]

Well I wouldn't pay cash for a property as you'll be paying tax on the rent as you'll only have rates and depreciation to offset the tax.  At the most pay enough so that it's cash flow neutral. That way it won't cost you anything to hold and you have more property increasing in value.

I would look at buying 2 properties around $200-250K using…[Read more]

Where did you see Cherie Barbers workshop for $900? Her system is $5000 and includes all the manuals, templates etc.

It doesn't teach you how to renovate. It teaches you how to select and project manage other tradies to renovate for profit.

If you want handyman stuff look on Youtube. I've leaned heaps of handy stuff there.

Rixstar wrote:
I thought Karina was a resident Australian buying and rehabbing in the states.
To buy one of those properties you need to purchase the LLC that purchased the property.
Please correct me if I have misunderstood the process.

If that,s correct isn,t that close to a flipped property.
Karina does source great properties it,s just the…[Read more]

bardon wrote:
I was looking into some of those suburbs that RP Data claim are cheaper to buy than rent.  Which means they are CF+.  On face value it looks like a good pointer, not that I am buying though.

A lot of these "claims" take the mortgage figure only (and some at 80% lend only). So this is distorted.

You also have rates, insurance…[Read more]

It can increase value if done legally. Make sure it is legal height (the usual downfall) and approved by council.

Not  applicable to your situation but- If adding bedroom but taking away from living areas this can actually decrease value.

So they are going to find you a property for $1,500?

Have you looked at Select American Homes? I have lots of friends who have bought through Karina (who owns the business).

She's in Atlanta. She doesn't flip properties like some of the companies (that's how they make their commission- sometimes LOTS of markup). She sells it AT the price she…[Read more]

It isd illegal to obtain the FHOG and not live in it. But people do take the risk. Many have been caught.

Are you planning on borrowing 80%. If so you will have no money left after stamp duty and legals. Not to mention the reno's you talk of.  It's a good idea to have cash reserves for when things don't go according to plan (eg not renting…[Read more]

tash72 wrote:
BTW: Beware of wholesalers/flippers (especially when they are based in Australia like SAH) you may do OK, but you can guarantee they will do OK before anyone they flip to – and that is forgetting any management issue that might arise when they are long gone (ie the day after you hand over the cash).

Do it yourself, in the long run…[Read more]

There is no common LVR. It depends on your risk profile. Some people view having a high LVR as more risky. In a way it is. If there is a downshift in prices the bank may want some money back (as your LVR will then be too high). It always pays to have a cash buffer.

I borrow 105% on each new property but my overall LVR is around 50%. 

If you are…[Read more]

Yep sometimes it's not worth spending too much. You just want to make it presentable.

Wouldn't be too difficult I don't think. If you router the edges it wouldn't be too plain and that's pretty easy.

The carcasses can last 20 years. It's usually the doors and benchtops that date and get damaged.

Answers underlined in bold.

simple wrote:
Catalyst, interesting topic you have touched. 

Based on your reply, your focus in Capital Gain. Let's compare it to Cash Flow:

CG for:
Can be very large over very short time
50% TAX discount
Holding cost insignificant over the return
Short to mid term stategy     Why are you saying CG is a short to mid…[Read more]

I know someone that did it. They used a router to pattern them. Seal and paint them and they look OK. If I had time and patience I'd consider it but I don't have either.

Give Karina a ring. I think she's back in Atlanta now. She's a wealth of information and is buying heaps in Atlanta.

Karina Perez Ronderos
Select American Homes LLC
Phone +61 412 900 111
http://www.selectamericanhomes.com

If they are standard sizes you could just go to Bunnings etc. Or a local kitchen/cabinet maker.

Sometimes just painting the doors and putting on new handles can make a huge difference. We did this in one property. Will give us at least another 5 years before having to replace.

We moved one from one room to another and put new handles and new…[Read more]

If your granny flat falls under the new 10 day approval guidelines then they overrule council rules.

So you had a fight with your mum and you want to buy a house anywhere in America?

To live in?  Seems a bit drastic.

Why not just move out? Might be easier.
Having said that there ARE some cheap properties in America. Whether you would want to live there is another thing. Have you been to America?
Atlanta is a nice town with good potential and…[Read more]

When I'm a millionaire I'll travel more (my husband thinks I travel too much already) and in doing so use my time to help others.  Building houses, schooling children, helping people help themselves to achieve a better life etc. And also increase my donations (both of time and money).

Money makes the world go round. The more you spend, the more…[Read more]

Granny flats are the buzz at the moment. It's the same thing as you're describing. Separate building, not subdivided.
And lots of them aren't small either (60sq).
Not too hard for approval these days. As long as there is still yard left I don't think it would limit resale really. Not difficult to value either, But it won't be double what it is…[Read more]