TheFinanceShop wrote:
It really depends on the area, zoning, etc. A lot of developers in certain pockets of Sydney are purchasing older boutique apartment blocks, renovating all of them and then marketing them the same way as a new units. It is quite attractive for investors particularly those interested in OTP purchases. Higher risk but if done…[Read more]

christianb wrote:
The only sure way is to buy all four. Any other plan is a little "hit and hope".You can approach the local council about any notion you may have of redeveloping the block and they will be able to give you some zoning advice and maybe some advice around council's strategic objectives.

Thanks christianb, but unfortunately I can…[Read more]

Shape wrote:
You know you can arrange with the agent to have some of your builders/ tradesmen ( find them in the yellow pages) come out and quote for the job- before you sign the contract. That way you have a fixed quote for that EXACT job.

Regards
Michael

This is a good idea, thanks. Didnt think about that…now this may sound dumb…[Read more]

Shape wrote:
It’s like me posting a picture of my car and asking you how much is it worth; without telling you the make, model, year, km etc..

Regards
Michael

Thanks @Shape, I know it’s a bit like what u said, I actually tried to find at some “before & after” reno examples on the web (with costs), but to no available, I have absolutely no…[Read more]

sapphire101 wrote:
No one can tell you what this renovation will cost. A good renovation needs the costs to be worked out as exactly as possible otherwise you will blow your budget. Lucky for you this won't happen because you don't have a budget. You need to go into the property with a seriously accurate checklist and note everything down that…[Read more]

Housing fanatic wrote:
As you mentioned in the original post its dependant on what price you can get materials for etc. It also depends on how handy you are with tools. If you are keen to try, most things you can do by yourself ( Being in a trade and judging the intelligence of some trades ANYONE can do it). Stuff like decking is relatively…[Read more]

mmm…not sure why I…but i can see them. when I get home tonight i will try posting them again

Catalyst wrote:
You mean Zaki in this months API? I don't know about the debt but he used a buyers agent to buy under valued properties and reno them. He did a LOT of the work himself so saved lots of money there. He revalled properties and withdrew the equity to buy the next one. Because they were neutrally geared (or just over or under) he…[Read more]

glad to know i’m not the only one…

Sorry to jump on the bandwagon…can I get in touch with you also Michael? Was thinking to start my own biz too!
I have setup a website of my own already.
Now looking to do other stuff (most likely online, but would like to find out what offline biz I could do also)…

Many thanks in advance

INTERNATIONAL EMPIRE wrote:
Homersyd,Good on you that you've bought your own property! Syd market is tipped to increase in a big way in the next few years! BIS Shrapnel.About your next investment property, you'd need to have at least a 10% to 20% deposit. Either in savings, equity in your home, or family/friends loan. Also there is a creative…[Read more]

duckster wrote:
So lets derive a magic formula for this (Loan amount in two years time + extra loan in 2 yrs time) / Value of house in 2 yrs = LVR    (0.8 is 80% LVR)(loan amount in two years time + 100,000 ) / (original value * (1+.07)^2 = 0.8             (0.07) is 7% p/a growth ^2 is power of 2 Two being the term of the interest rate being two…[Read more]

so why would one actually wanted to keep LVR to 80%? Is there any benefits of doing that?

WOW!! We’ll probably need a auditorium pretty soon at the rate people are joining in….LOL

ryan mclean wrote:

homersyd wrote:

maree_bradross wrote:
No-one will be cheaper than yourself

I know…but we dont want to stuff it up as I’m not handy at all…

You don’t have to be especially handy in order to paint a house.

If you are painting your house to rent it out make sure you choose neutral colours. By choosing stark colours…[Read more]

One question though…since most of us attending are newbies to PI, wouldnt we need someone more experienced to be the “mentor”?

oh did I mention I would like to join also??! Count me in!!

maree_bradross wrote:
No-one will be cheaper than yourself

I know…but we dont want to stuff it up as I’m not handy at all…

number 8 wrote:
Yes I do,Brendan painted my entire external home (brick) for three thousand one hundred and fifty dollars (He provided the paint and spent over two weeks, two coats, windows, doors and no more gaps where appropriate). My home is two stories on the side.refer to http://www.birchcorp.com.au under asociates and articles for his details. I…[Read more]

ladyo wrote:
Am happy with The State Library and will call up next week to see if there's discussion rooms.Thanks Homersyd.

No worries ladyo