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I agree with the recomendation of Terrys services as a broker, as I have dealt with him and found him very professional also.
However, I have also come accross a person that bridges the gaps, a common issue with Financial Planners regarding property.
http://www.strategixpropertygroup.com.au/spg/
The director's name is Julian, and he holds formal qualifications in Financial Planning, Accounting, Mortgage Broking, and is a qualified Property Investment Advisor.
I have dealt with them recently and highly recommend him. I know he is very busy, but insist on dealing with him directly.
Good luck
what about a $2mill loan , or a $3 mill loan ??
Both would be full doc loans.
hbbehrendorff wrote:A boom ?? Are you out of your mind, On what premiss could you bolster up such an opinion, I've never liked Michael Yardney, He looks evil, Anyone who has done any study into physiognomy would probably agree with me.What information does he know, That we don't know, That would make him preach there will be a boom ?
Or is it just a case of him wanting to make more money, As no one would be going to his seminar if he said the market is in disaster
I always find it funny how everyone seeks an expert to come to there own opinion, while at the same time turning there own mind off, Like everyone wants to be feed the answer, whether it be true or false, Because that makes it easier. No one has there best interest's at heart more then oneself.
If you want to find the answer to anything, Don't believe anyone you hear, especially when they have there own special interest, Do the research yourself and come to your own conclusion.
Michael Yardney "evil"???
Well have a look at you icon !I've never liked Michael Yardney, He looks evil, Anyone who has done any study into physiognomy would probably agree with me.
Have a look at your icon ?!?!
I would get rid of the bricks above the steps, and build them out the front of the house also, in effect returning the steps around 90 degrees, to provide better access to the front door, as well as making it a focal point.
Do some plantings to the left of the new steps, along the front of the house to get rid of the house on piers look, which makes it look a bit cheap.
Then a good coat of paint all round, and a new front fence, or maybe just spray it black, and plant some climbers at the base of the fence to get the hedge look……Crashy,
you will have to go to the very outskirts of Sydney 20km+ to find a house at that price.
Maybe you can afford a studio, but then you wouldnt have much to renovate……Why dont you join forces with someone else?
Frank
By the time you did all that, it would be just as easy to replace the boards when they rot.
Dont worry too much, by then you will probably want to update kitchen and bathroom, so wait to do all that stuff then, and then get a new depreciation schedule, also a good time to get it revalued and pull out the extra equity for another purchase.
If it is your PPOR and using the "Temporary absence" rule, you have it rented, then any costs associated with this, like depreciation and interest costs are fully deductable, as if it was an Investment Property.
Whether the improvements were done while you were living there or while it was an IP is irrelevant, it will still be depreciable.
If you are planning on moving in, I would get a valuation done now, especially if you are planning on doing work to it once you move in.
A conservative valuation would definitely suit, then if you move out again later, another valuation would be the go, this time a more upbeat value would be good.
This would help if you eventually sell.
I also agree with the last post, it depends on how much equity and what you ultimately want…You sound like you already have a feeling which way you want to go, snowflake, and I agree with you.
If you still need to have it looking good after another 2 years of rental, then a cheap option will look even worse by then.
Considering buyers look closely at the kitchens/bathrooms when they buy, and not everyone is into renovating, get something of quality.Keep things neutral, and stone benchtops dont cost much more than laminate but definitely deliver the wow factor.
The extra few thousand you spend will generally come back to you tenfold in the sale price (im talking from sydney) and if you are still renting it, you can depreciate it for a few years anyway, and should get at least $20 per week extra in rent.Apparently bad feng shui having mirrors in the bedroom!![rambo2]
