Thanks Terry, i'll work on it.

hi folks,thanks for the advice, all good points.we're currently renting so there's no PPOR loan that we can pay off.We lived in her property for 1yr but moved out a few months back (it's too small for us to live in now). Also they're all interest only  set ups with a mix of variable and fixed interest.at this stage we do intend to some day use th…[Read more]

Hi Chelkin,I work for a Real Estate office on the Gold Coast that have rentals in your area and throughout the GC. What you need to know is that after a property is advertised for around 4 weeks it becomes "stale"…which means all of the current renters in the market have looked at the property and decided that it's not for them for reasons such…[Read more]

I've done the queensland real estate REIQ course…..it goes for 5 days and costs around 750 bucks. It's worth doing if you want to learn how agents operate and the process/documentation of buying/selling/property management……so if that's what you're after then go for it. I did the course and went into real estate sales on the Gold Coast.…[Read more]

whatever the case it's terrible for their reputation…..we basically blame ING for what looks like us losing the contract. We had 28 days for finance on a 30 day contract….after we originally had 14 we got an extension because they were taking so long. They told us after 18 days that it was a no go so we've had 10 days to try to get finance…[Read more]

i agree with banjoi tend to think that most of the stuff you do is fairly similar…..but you do need to have your target market in mind when renovating to sell or rent out….. i may cut some corners on some of the finer finishing touches if the place is to be rented. A renter wouldn't put near as much time into inspecting the place and it's s…[Read more]

you should be able to get your accountant to do a depreciation report at tax time…….they should have a list of items that you can depreciate and it's a matter of estimating the value of each of those items. you should be able to do this with no inspection required………i believe you can get a quantity surveyor to do this report instead if…[Read more]

u can get alot of useful stuff from your local tip shop or lifeline / salvos type stores including basins, tiles, mirrors etc even tools like tile cutters. sometimes people have heaps of tiles left over and just take them to the dump or the op shop. ikea/bunnings/spotlight can be good for accessories like towel racks / toilet roll holders /…[Read more]

im really happy to see lots of other ppl driving crappy cars also….its just been a case of trading down over and over for me over the last few years. ive owned a wrx, a civic with wheels worth 3600??? stupid yes…a black veilside supra….downgraded from the supra to a honda accord just before i bought my first house….then downgraded from a…[Read more]

so my i.p. went unconditional today….settlement is not until may 1 though. i’m interested to know what you finance ppl out there think i should concentrate on now. i’ve made this step of getting my first i.p., what next?

at the moment:

ppor – owe 309k valuation 380k P+I
i.p. – owe 230k (inc fees) valuation 220k I.O. renting for only…[Read more]

Originally posted by Mortgage Hunter:
Originally posted by 65ens:
i am nowhere near as experienced as all of these guys but the way i look at the I.O. vs P+I scenario is like this:

say if i buy a house for 100,000 and then sell that house for 175,000 in 5 yrs time creating a 75k capital gain.

If i had the loan set up as P+I i may have paid…[Read more]

i am nowhere near as experienced as all of these guys but the way i look at the I.O. vs P+I scenario is like this:

say if i buy a house for 100,000 and then sell that house for 175,000 in 5 yrs time creating a 75k capital gain.

If i had the loan set up as P+I i may have paid 50,000 off the principal. So i would receive a “profit” of 125k when i…[Read more]

well folks i just thought i would update u all. i now have a contract on my 1st I.P for 220k. a 2 bed in a block of 4 at palm beach on the gold coast, 250m from the surf.

the wisest thing i did was speak to a finance broker rather than the bank manager. she came up with many new and inventive ways for me to get the money i needed. i was also…[Read more]

oh and with the toilet…i left my original toilet base there and got a replacement cistern and lid from bunning for 60-70 bucks. it also includes the piece of plastic between the lid and the cistern to hide the pipe and give that modern look. it totally looks like a new toilet.

a few other ideas:

i got my vanity with semi recessed bowl and 2pac doors from ebay – $400

i got a MASSIVE rectangular mirror from lifeline for 20 dollars. – it had a crappy old copper frame on it. i removed the frame and all of a sudden i have a trendy frameless mirror!!! it looks a treat and opens the whole bathroom up. mounted with liquid…[Read more]

gday,
well 8 months ago i had a sports car with alot owing and was renting with absolutely no savings. so i decided it was time to buy a house.

u must look at everything in your life and decide how to save money. i sold the car and got a little 4 cylinder, i sold everything i could think of that i no longer used on ebay. i did not indulge for 6…[Read more]

i used to date a girl whos father was a support member and i ended up on the mailing list.
interesting to notice that on one of the charts their gold coast properties have had an amazing 0.00% vacancy rate for as long as i can remember.

well folks you will be happy to know that i got a offset account set up when i got the loan. Im paying extra on the loan as well as putting all savings into this account.

Im thinking that maybe when i get an IP i may be able to draw from this offset as emergency funds for the IP…eg breaks downs, maintenance type things.

i have no ties etc so…[Read more]