Hi Easymoney

Do a bit more reading (borrow from the library) Margaret Lomas books are a great read, she doesn’t even go and look at the properties does it all from over the net after she has done all the research, she makes a low offer and gets a building inspection done.

I think the more questions you ask agents (just don’t go on what the…[Read more]

Jenny,

From my wife’s point of view the decision would be quite easy to make. If the tradesman had

A) Bulging pecs and rock hard abs – the answer would be “Anytime honey bunch”…or

A huge beer belly with the obligatory arse crack hangin’ out of the Stubbies – the answer would be “Anytime honey bunch”…

You see, if it was a good deal…it’s…[Read more]

Thanks Brenda for your advise, I wasn’t sure on how it would all pan out.

I just love this forum, for any question, you can bet someone out there has been there done that and we all benefit!

Jenny

Jenny1

I agree with all of the forum thoughts. The only one to make money here is the agent with his commission selling it for you and then again when he resells.

Jenwren is on the money with her increasing value tips, could easily do any of these to add $’s build equity and start increasing your port folio!

Cheers

Jenny[biggrin]

Jenny1

Thank you everyone for your replies[biggrin]
I have made an offer on the property (QLD)270,000
thinking this is a fair price considering 25-30,000 needs to be spent to renovate. Owners came back and are asking $280,000 would you up the offer in lieu of money needed to fix? I was then going to rent out the house at the front (rent approx 250.00…[Read more]

Come on guys I got to get some beauty sleep thought someone would give me direction!

[biggrin]

Jenny1

how much are the repairs worth?

what is the property truly valued at.

what value would you expect once renovated?

Byronent
Adelaide SA

Hi Byronent

Roughly would need to spend approx $25-30,000
Other houses in same street that have been fully done up are reselling $340,000+ but at this stage only wanted to freshen it up, have not had it valued…[Read more]

[biggrin]
Have you read any of Steve’s books it goes over lots of different ways to aquire property with little or no money.

He also goes on to talk about property that doesn’t perform from day one (re your negative geared property). Might need to go over figures again see if it is worth keeping and use equity to purchase other properties or…[Read more]

[happy2]Thanks Kelven, it is great having people on this forum to bounce ideas off. Sometimes you already know the answer but at times it’s hard making decisions on your own. Must be the libra in me hate making decisions!!

Thanks again

Jenny

Jenny Jordan

[biggrin]Hi Derek, thanks for your reply I am a young chicky babe 48yrs old as of yesterday.
I am in a unique situation as I live rent/utilities free as part of my package. I work 2 full time jobs. I have 1 negative geared property 1 neutral, and the other positive geared.
All IP’s bought before I read Steve’s book, or otherwise all IP’s would…[Read more]

[biggrin]Many thank for all your help, I suppose I have been just lucky and have had only had minor repairs.

But I will take note and put money away for a rainy day (in case the roof leaks..that is if we ever have any decent rain!!).

Thanks again Jenny

Jenny Jordan