The building is about 8 years old, so I will go with a QS.  Many thanks for your suggestions.

Thanks for your comments.  The place is heading for a mortgagee auction and has essentially been stripped bare.  No filtration or other associated equipment – just an empty concrete pool, with cracks.  From an IP perspective, I assumed (perhaps erroneously) that having a swimming pool in a tenanted property would be more trouble than it is wo…[Read more]

Did you buy it 7 years ago directly from the builder? Sounds like you did.
You will really need to look at the terms of the contract and form a view on whether home building insurance or legislation is of assistance to you.
In the first instance, I would seek recourse directly from the builder, but from previous experience I don’t like your chan…[Read more]

An update!

Same agent calls me to change the booking time for another property he is showing me later this week.

He then talks about the one I’m interested in (with no prompting from me). I feigned to forget which property it was as I have seen so many. [biggrin] Anyways, so he tells me that there has ben “an update on that one”. He said…[Read more]

Having read the OSR website, I read the eligibility requirments as being we qualify for the Grant, but not stamp duty relief.

Alistair, no she has not resided in the IP. Many thanks.

Cheers for that.

What do you mean by “sophisticated” investors.

And if IO – then how does one develop equity in the property?

I appreciate your forthright thoughts Derek. You may well be right on the over extending part and no, I don’t have anythign up my sleeve.

I will of course, be going over the figures in more detail when I get back home and get a loan approval, work out a new montlhy budget etc – but I guess I just wanted some gut reactions from people with more…[Read more]

DD – yes you’re right – the original poster (moi) IS a novice.

Hence my initial question. This looks like a great forum for the sharing ideas – and I wanted to gauge the opinions of others. Not see the thread degenerate as it did.

Thanks for all those thoughts guys.

I have my own views but am always keen to get other views.

Thanks for those thoughts – I really appreciate it.

I pretty much agree with everything you say. It seems to me there are a few people who have “over extended” on a 2nd or 3rd investment property in the last few years to try and “cash in” big time in Sydney and even the slightest interest rate movement is hurting these people. This is mainly…[Read more]

Originally posted by kay henry:
Da Man,

I think there are heaps of positive greared properties around. Well, cheap properties with rental potential of 10.4% So you buy a property in a rural location, for 50k, and rent it for $105 a week. It’s not hard to find them. It’s whether you WANT that kind of property or not, that is the question- and it…[Read more]

What is a bora?

When was the roof built?

When were the subsequent repairs done?

I would get a report done by an expert which outlines a) the cause of the problem b) the possible methods of rectification and their cost.

If total reconstruction is the only way – I would consider taking the report along with you and going to a solicitor…[Read more]

Originally posted by Da Man:
I’ve been tracking a particular Sydney beach side suburb for 4 months and keeping a “dossier” of prices in streets am interested in in that suburb. It is a suburb that I have always liked and I plan to buy an IP, build up my equity, then buy a 2nd IP and move into one of them.

I’ve found that some places in this…[Read more]

Originally posted by lil_man:
hey guys [cap],

what is the price these days of a cheap house, im tallking something one bedroom one bathroom, nothing special.

i thought it should be about 50k at least but it seems a bit cheap to me. if you can be of help, that’d be great.

thanks![biggrin]

Pretty impossible to answer unless we know which city…[Read more]

Originally posted by The Mortgage Adviser:
You joined the forum today. How interesting.

If you don’t want to discard the 11 second rule altogether, ask for some of the spotters out and about who can help you find the properties you want for a fee.

Concentrating on what I do best… Investment & Finance!!!

© 2004 Mortgage Packaging Pty…[Read more]

By the way – I think the free sharing of ideas is marvellous on this forum!