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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    Cheers Winzer!
    That’s a great idea with the holesaw to get in there to glue! I didn’t think of that. It’s sounds alot more easier than what I thought I had to do!
    Looks like I’ll be keeping myself busy now that I’ve got some handy hints up my sleeve.
    Thanks

    Globe.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    Hi Frank,

    Have you had any experience with the old timber panelling? My kitchen was covered in it. I’ve ripped it down as best I could. As I’ve removed it it’s taken parts of the gyprock paper with it. Is this fixable? I’ve spoken to a few people with mixed answers but seeing that you’re in the know, any thoughts…?
    Cheers,

    Globe.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    About 18 months ago. It was Dec 03/ Jan 04.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    I don’t believe I have rushed into this decision to sell. I appreciate your view on this Terry but I think my mind is fairly well made up. It is an older style of property that has nothing other than rent to cover the costs it just isn’t making the grade. I’m not totally going off the success of Steve and Dave’s deals as the norm for everything that occurs but I believe that I can create a better situation for myself by starting fresh and adopting a different approach to what I had originally started with. (which was no idea!) If that means losing money than so be it. I’ll know next time that’s for sure!
    Thank you for the feedback again Terryw.

    Globe.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    I am ahead in payments as I do pay extra into the loan each fortnight.
    I’ve since found out that I can get employment in June but at a much reduced pay as what I receive now (on 60k gross now, going to about 25k gross)
    So your option you’ve pointed out of stopping payments may also be a factor to consider… To be honest I didn’t even think of that!?! Crazy huh? It looks like I need to seek some professional help to put everything in perspective for me.
    Thanks for pointing out the bigger picture for me Derek.

    Globe.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    Thanks for the info Mick and James.
    I’m going to check out the Homepath website and speak to some brokers for more info on what to do too.
    I’ve looked at the depreciation side of things and because of the age of the property (40 yrs) not much can be done.

    Cheers
    Globe.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    I understand that some form of plan in this is necessary to map out where I want to be and what I want to do.
    I owe about 145k on the loan and the weekly rent is 180. I don’t know the cuurrent value of the house but I purchased it for 175k.
    I recently spent 3k on repairs that were necessary for the property to be comfortably liveable again. In the 2 months this happened I was without rental income.
    Is it possible to find out some easy ways to calculate expenses in a normal situation of purchasing property? Any material I should be reading?
    Thanks in advance.

    Profile photo of globeglobe
    Participant
    @globe
    Join Date: 2004
    Post Count: 19

    Thank you Derek. Once I posted it I was looking for it and was wondering where it went to? haha!

    Cheers.

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