Commodore VX wagon in silver.
Somewhere to put my boards for surf trips. Is economical an I dont tear up when some wanker smacks his trolley into a panel. Owned outright so all monies can go to buying houses And getting shit done.
 
 

Hey Richard,
how much did they cost you to put on site, fit out, hook up to services, etc?
have you sold or do you still have? if you have sold how did resale go compared to similar properties?
 
Cheers
 

I second Joe- can I ask what is your strategy and why your bullish on Geelong?

Hey Catalyst,

very impressive- place looks brilliant. 

Where abouts was this purchase?

out of curiosity- you said for every dollar spent you look at a return of $3 for Reno projects- so if you spent $300k on a place, put $20k into a Reno; you'd expects reval to come in at $360k is that right?

Benny,

mate reference to verticals is for window coverings.

Use them as they look modern, easier to replace if a single one is damaged is as simple as unclip remove and reclip the new one on which cannot be done with venetians.

Curtain I don't like for rentals personally, so basic premise is ease and less hassle if I have a shit head tenant…[Read more]

Hey catalyst,

ebay doesn't get much over here but have grabbed lots of stuff from gumtree. Vanity, sink, mixer taps, ovens and range hood etc which have been 1/3 of the price if not less.
All tiles from wholesaler and kitchen guy was local cabinet maker.
With this current project, we did find a wholesaler for the kitchen which all had pre made…[Read more]

Catalyst,

How do you do a house for 15k?

This is our 3rd house, second reno project. We didnt go ahead with the 2 bedda mentioned above, instead a 3×1 on 700sq block that we picked up 20-30k below market value.

Have had multiple quotes but considering the basics-

Kitchen- $6700
Bathroom- $7500
Carpet 3x rooms- $1100
Paint- $400
Vertical-…[Read more]

Hey Ferdinand,

Just to clarify is that $750k spend on knew PPOR or IP?

If IP, is it a house or other dwelling style?

Ben

This one is down in Hillman which is suburb of Rockingham shire, right near hospital an recently upgraded shopping centre. I live in Yokine so is a solid trip each day I do renos so being more strategic with what I chose to do an what I get trades in to do. 2nd Reno project which will be a buy, Reno, reval an lease. 

Are you doing complete refurb…[Read more]

$7800- more like $8800. My maths isn't that bad 

Hi Kate, we are running on a bit of a clock so thought just having a group in there would cost me a bit more but save money in time an holding costs- got a quote today for $7800 which I'm happy with. 5500 for all labour an just over 3k for all the other stuff that I pay for.

Tommy- I've already done the full demo, all tiles, bath and vanity have…[Read more]

Thats about right freckle- 3m x 2.5m space, all demo complete. No change in plumbing or floor plan. 13k is best I have got that's me including all floor an wall tiles. Couldnt believe it!

Haha what an idiot- in Perth lads. The western state!

Take two! 

Thanks Jamie- was that for Landlords Insurance or straight building insurance?

We have a 3×1 in Hillman under contract, 

We settled on a 4×1 in Cooloongup in July. Both bought well under market value with a Reno, revalue and hold strategy.

Both +geared! Midland would have been nice to get into before Perth market started to run though lot happening round that end of the world; many social problems and crime but as with…[Read more]

As already stated. Try assess comparable sales, comparable rental return vs what you have been told it will yield and make sure they marry up.

Look at other OTP projects in the area and determine approx settlement point; Sth Yarra had 2-3 major high rise OTP apartments settle very close together flooding rental market with new stock and in turn…[Read more]

Hey Jamie,

Mate the valuation was done over a month ago- not sure what the go is

Hey Freckle,

Those leveraged below 60% which I would say is very very few of us- why would we be in dire straits should the economy fall into a black hole? Unlike shares the banks cannot margin call and expect us to add surplus funds to maintain a new LVR respective of the new market value following a significant correction can they? I haven't…[Read more]

Wilko and FMS are bang on the mark.

High risk strategy, added to which most developers factor in future growth- ie: if the project isn't due for completion for 18-24monhs, the purchase price usually reflects what growth would have accrued so you are not paying today's market value, you are paying anticipated market value in 2 years. Hence why…[Read more]