I’ve spoken to a few people that have done the course. They say it was worth it but a LOT of work to find a deal. And you need cash (or a decent LOC) to maker deals.

Only met one person that actually did a deal but they were vague about it.

Are talking about splitting the house and you occupying part and renting out the other part?

If that is the case you need to submit it to council and you will be required to put a fire wall between the 2 residences to make it legal. Without that, as you say, your insurance will wipe you. To install a second kitchen you should get council…[Read more]

What do you think needs to be gentrified in Kings Langley?

It has great parks. 35 minute direct bus to the city. Nice looking houses, facilities and shops. Yes it’s Blacktown council but closer in resemblance to Baulkham Hills than Blacktown area.

The closer to Baulkham Hills are the better houses. Things have moved considerably in the last 2…[Read more]

Check with council what you need in order for it to be strata titled (eg fire wall, size of land etc).

Not all will be able to be strata’d.

Can i ask how you are calculating cash flow in order to make most of Adelaide CF+. Must be different to the way i calculate it.

i.e outgoing(interest on 100% finance, rates, insurance etc) minus incoming (rent). Only counting 80% is not taking into account interest lost by using a deposit. ALL properties can be CF+ if you pay a big enough…[Read more]

What type of deal are you looking at? It’s not clear.
You find a deal (is that it?) and the other person pays the deposit? Then what?

What is your end goal? Renovate and sell?

Getting Money Partners can work but you need to have a clear idea of what you want to do And how each player benefits.

Look up the meaning of repair. It means to fix something. re·pairs. v.tr. 1. To restore to sound condition after damage or injury; fix: repaired the broken watch.

You are not “fixing” the existing lawn you are “replacing” it.
Simple English really.

That is correct bm17. It is seen as an improvement as you are replacing new for old.

You…[Read more]

$299 is not a lot of money, so you are sure to get something out of it. Most reports from beginners have been positive. But as with anything there are some negative comments.

Please let us know what you think. Speak to as many like minded people as you can. That’s a great way to learn.

If you are replacing “like for like” it is NOT a repair it is a replace.

A repair is when you “repair” or fix the old.

When you replace something it is seen as an improvement.

Puting in new kitchen cupboards, taps are improvements whenever you do them. Not maintenance.

If you want to draw equity now, why wait. The cost of lost earnings with what you can do with the money would out way tax deductions I think. We always reno straight away, thereby gaining instant equity plus making properties CF neutral at positive from…[Read more]

If you buy under valued (difficult at the moment) and renovate that gives you instant equity and increased yield. With that you should be able to refinance and withdraw money out to buy again fairly quickly.
This has been our strategy.

If you are keen you xcan renovate effectively while still working. It’s bloody hard work but achievable.
We…[Read more]

If you redraw the $32K from your IP you are contaminating the loan. ie it will be mixed with both deductible and non deductible (the $32K) money.

Do not do that.

I’m a bit confused about the $8,500 loan. I would increase that if possible (as I assume it’s tied to the IP) but it will be separate and not confuse the deductible and non deductible…[Read more]

Is it a unit or a house?
Do you want building, LL insurance or both?

Great points Benny. My strategy when I started buying was to only buy it if I could sell it the next week and lose no money.

It was tricky but it was a buyers market so possible. I had to buy under market in order to cover buy and sell costs but it was a good guide for me. A few properties I did a reno straight away and could have sold for a…[Read more]

If you think the property is going to go down in price why would you buy it.

What’s hard about it? Buy a property that fits your criteria ( for example- not too negative with CG potential). Of course you need to think what your plan for it is otherwise why buy it? Will you keep it for the long run, reno and sell?, subdivide? That’s what they…[Read more]

You are correct that in a slow market a property may become stale and the price is reduced. This may or may not mean it’s a lemon property. You need to know the difference.
For example an acquaintance of mine listed her property for $519K against my RE agents advice to list it for $499K. It got a lower offer but it fell through due to an easement…[Read more]

Cost is around $100K-120K for a good looking one fully installed.

There are a few cheaper but they look like sheds.

This varies of course due to what council it’s in. Some charge ridiculous S94 fees.

Not a bad outlay considering you can get upwards of $300 a week rent (depending on area).

As you do not have a cash flow issue I would be looking for the best chance of capital growth rather the concentrate on cash flow properties. They are great and I love them but you need capital growth.It is possible to get both though. I don’t think a 1 bed in Brisbane is a good choice.

Do not pay down the first property. At the moment you have…[Read more]

Assuming you nominated your first property as your PPOR you can use the 6 year rule and not pay CGT (assuming you do not claim the other as your PPOR). You can only claim one PPOR at a time. But you will have to pay CGT on the second property even though you are living in it. You also cannot claim rates etc on the second property while you are…[Read more]

Please explain!!!

It is not clear what you are asking.

nomination twice?

loan not approve?

need to sell it our as a nominee? You were listed as a nominee but not going ahead?