Jemma wrote:

I’ve been watching Newcastle Permanent rates this year. Fixed rates for 3 years are currently 3.89% (4.49% for 5 years).Has anyone had experience with this bank? Seems like really good rates. I’m not affiliated with any bank, just watching with interest because my fixed rate periods with another bank are expiring later this year.From what I can see, the rates are the same for Investment and Owner Occupied

Was a very loyal customer for years until I decided to retire (40) and lending became an instant issue for them.
They were happy to give out loans to someone with nothing but a regular payslip and 6 months history but not me
who generated well above the average wage with property, shares,managed funds. They became to small a bank to
handle my loans, the big ones jumped at the chance.

The original post was some time ago.

Would really need to do some research on the specific area , I do know one area on the Central Coast NSW that
has recently seen 5 new granny flats go in to an area of approx 1000 homes which has pushed the rental market
down , There are definitely areas on the Coast becoming flooded , someone might have updates on the Logan area.

• This reply was modified 8 years, 4 months ago by  jeta.

Here is a purchase from Nathan on the Gold Coast

In the clip he claims they purchased two for $225000 each and would rent for $300 a week and he estimated it
to be undervalued and thought it worth $260,000 at date of purchase Oct 2014

Looking at On the house website for the property Its 45 Burra st Chevron Island

http://www.onthehouse.com.au/4957488/1_45_burra_st_surfers_paradise_qld_4217?status=off-market,for-sale,for-rent&addressQuery=Burra%20st,%20Chevron%20Island,%20QLD%204217

Now some figures

Yes purchased Oct 2014 at 224000 and 225000 remembering he said it was undervalued and estimated 260,000
I see the latest sold purchase was march 2015 at 239,000 and the latest rent seems to show $250 a week
although there seems to be a lot of properties of this vintage for rent on realestate.com for around the $280 mark a week.

probably has done well out of it now but don’t think it was worth his spruking back then.

• This reply was modified 8 years, 5 months ago by  jeta.
• This reply was modified 8 years, 5 months ago by  jeta.
• This reply was modified 8 years, 5 months ago by  jeta. Reason: added more

Same as above , Jan sommers is where I learnt my technique and somersoft a great help over the years.
As for Nathan I followed a buy of his near to me which I knew the numbers didn’t stack up.
So he maybe successful but he doesn’t always get it right and when he’s wrong it doesn’t go down well
with him when others start to pic at the numbers.

You’ll learn everything you need to know from these types of forums then paying for it.

• This reply was modified 8 years, 5 months ago by  jeta.

Theres weatherboard and weatherboard.
What kind of weatherboard are we talking.
Asbestos
cement sheet
timber
masonite

Your not going to really have any deteriorating issues with asbestos unless it has exposed fibres or blistering paint.
Masonite needs to be well protected using paint or can be damaged , cement based sheeting will be fine unless its
the first type that came on the market after asbestos was removed which just crumbles away and timber if not
maintained could have rot.

So really it comes down to each property , how they have been maintained and a good inspection.
Ive done all above except timber weatherboard and found it easy enough with just a DIY certificate .

• This reply was modified 8 years, 6 months ago by  jeta. Reason: Bordering issues

Lorella how did you go with George Town property ??