I seriously doubt that. They aren't going to give it away.

Yes you definitely need to do that. Sometimes unrenovated properties aren't that cheap (especially by the time you do all the work)

You need more than a feel. You need to know what the house will be worth after reno. You need to know how much it will cost to renovate (allow going over budget) and also factor in interest while it's empty. Work out how long the reno will take. Time is money.
After you get all this info work backwards.

Final price minus reno cost minus profit needed. = the max you should pay.
I would want at least 3X your cost of reno. So if the reno is $10K you need at least $30K profit. This varies depending on how much work you do yourself.

So have your max price ready and go to auction. If it's passed in negotiate from there. They will usually lower their expectations if it's passed in. They like to sell on the day. Otherwise it can draw out.
tips- above. Traps- don't pay more than your estimated price.
 good luck.

I;m surprised that you didn't think of this before buying. I have a friend who renovates places away from where he lives. He just gets local tradies to do each job (not for me).

So-  in order get tradies in (pick up keys from RE)

-bathroom re-tiling (do you mean new bathroom?) start this ASAP as it takes the longest.
-kitchen cabinets (replace?paint?)
-internal doors (replace?)
-painting (inside and out)
-carpets. Ring someone to quote. Easy when everything is ready they come out and lay it.
-kitchen flooring ? same as carpet mob?
-new fence. anytime. Get quotes. They can come anytime as it doesn't affect anything else.
-window coverings. Ring, they will go out and quote- when ready get them to fit them (takes 3 weeks. Get the quote early.

I would try to be there for a day or 2 to get quotes. Go over the weekend and Friday or Monday. Do some of the basic cleaning/clearing etc yourself. This can save heaps of money.

We did a reno in Albury. Just went for a week. But had to go back a few weeks later for a weekend.

This was double posted and in the other thread I asked the same question but got no reply. I agree it looks great but I can't see any profit in it.

hahaha. That's hilarious.

Don't believe anything this person tells you. I was taught not to listen to people that have a vested interest in your purchase. The salesperson is paid by commission. So they "REALLY' want you to buy something from them.

Run Forest Run!!!!

I wouldn't say it "ONLY" becomes a problem if you don't know. There can be MANY problems EVEN if you know it's crossed.

 Eg one property goes down in value. That then affects both properties.

I just renegotiated my loans with CBA. They bought out the paperwork with all properties listed on all the loans. Rep assured me they weren't crossed. LOL. Ripped them up. Start again. Finally all stand alone.

With your new loan you can negotiate 1% discount = 6.81% ATM.

With reference to using different banks. Most people recommend capping your loans with one bank at 1-1.2mill.
This "apparently" keeps you under the radar.
So once you hit that figure go to another bank. I also find it keeps them on their toes a bit. I'm mainly with 2 banks. And they ring me and ask do I want to bring my money over from the other. "can I do a deal for you". haha

I disagree. While there may be some solicitors that cover all areas there are ones that specialise in property.

I only use a solicitor. As mentioned if there are problems you need to get a solicitor. As there can be many problems with contract law I'd not take the risk for a few hundred dollars.

Can someone give me a recent price for a conveyancer? General fee (without searches etc

I have never made an offer with conditions.

This is basic stuff you should check before you buy anything. If similar places to yours but 5 years older are at a lower price then yours will be comparable in, say 5 years time. So if they are $50K cheaper than yours then that means yours has to have a gain of at least $50K before you start making a profit (put simply). Get on realestate.com and check NOW!
Also prices go up (partly) because of supply and demand. If there are heaps like yours and more being built then supply exceeds demand. This is why beachfront properties demand a premium (you can't build more).

Type this into Google for several threads on Coomera     site:somersoft.com "coomera"

Or just look at http://www.somersoft.com/forums/   

Yep. Third party means that's an extra party making a profit out of you.

I was going to send you a personal message (PM) but you haven't added an Email.

The yield leaves a bit to be desired but being new you will get good depreciation so won't cost as much to hold. Have you worked out how much it will cost you to hold? ie out of pocket expenses.  About $230 a week loss before tax (not counting depreciation).

How does the price compare to duplexes in the same area that are, say 5 years old? ie are you paying a premium because it's new? Because in 5 years time there won't be much difference between yours and the ones that are 5 years old now. How many properties similar to yours in the area? Are they still building more? Yours won't be attractive to buyers in 5 years time if they are building new ones then.

I wouldn't buy it but your goals may be different to mine. I like a better yield and under market price. Buying new will not be under market price.
Why are you doing your due diligence AFTER you've signed the contract?

Doing nothing and retiring on the pension seems like a big risk to me.

I'll stick to the risks of property investment. At worst I'll end up on the pension, At best I'll be travelling the world (doing that now but still working some).