Hi thecrest.

The agent I bought it from do not do rental management any more.

Yesterday I rang two other agents, (one of them didn’t even pick up the phone!) and the other took my details down….time will tell.

The next major town is around 6 hours drive. (major city)

Thanks for the ideas Benny. I have checked sites like sqmresearch and abs.gov.au and the numbers aren’t bad at all. Vacancy rate is 1.8% and generally lowers down to around 1.4% around December on average for the last 3 years. The properties around it are very sound and next door is at least a million dollar property. I am getting it valued as we…[Read more]

Hi Mick,

I've got the exact same living scenario and finances as you (self employed, part time working wife, dependants and 220k mortgage with little savings)

Depending on what you want to buy, I suggest seeing a broker as they will break down what you can afford and see which lenders would bite.

I'm currently going through an application for a…[Read more]

Hi Dark Knight

I'm just about to find out! Going through that process now, but so far looking good, few lenders knocked it back straight away, but CBA my current lender just needed further docs and info (self employed) and also ANZ are ok with it.

I'm considered 'high risk' since being self employed under 2 years on a minimal income but lenders…[Read more]

Just digging this thread back up from the 2013 grave.

I've recently put a deposit down on a property in BH, and it looks very promising. Going from my numbers, it ticks all the boxes and I should be somewhere in the 20%+ yield once all is said and done (after reno and capital costs). I'm a first time investor so a place like this fits the bill…[Read more]

The Dark Knight wrote:
1) Yep thats right. You can try for a 5% depoist at cooling off just so you can have more money in your account
2) I would personally call them and than send an email to confirm your offer, I find its easier to haggle over the phone. Make sure you mention negative aspects about the property before you put the offer in.…[Read more]

I see, this is very helpful. I looked at pricing online for laminate tops and it does seem a lot cheaper and easier to install.

Would love to hear more about renovations to AVOID

Great tips guys

What about benchtops? Ceasarstone bench as opposed to laminate?

I'm thinking ceasarstone (purchased wholesale) because it will last a lot longer and will not be damaged by heat, knife slicing or peeling.

Wow, thanks for all the great help guys, this forum is amazing

Jamie M wrote:

dezability wrote:

Now what I don't understand is (and it only occured to me just now), how come we are going through a lender when we have usable equity to borrow against in our PPOR? Isn't it just a case of going up to our current bank and getting them to write a…[Read more]