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Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of jfjf
    Member
    @jf
    Join Date: 2002
    Post Count: 5
    June 19, 2003 - 10:08 am

    Hi hwd007

    I would agree with wayne in that without floor plans hard to estimate.I am assuming that the unit is built on a concrete slab. Your major cost for this type of reno would be connecting all the new plumb[:)]ing for the ensuite. this could be costly if the bath room is not close to your new ensuite. The rest of the work could be relativly in expensive

    Profile photo of jfjf
    Member
    @jf
    Join Date: 2002
    Post Count: 5
    June 12, 2003 - 10:41 am

    Hi youngie

    im a bit late on the seen but I might be able to shed some light for you. I actually do what you are suggesting in vic. So far it has paid good dividends. I am about to purchase another block of land settling in 12 months.

    It is risky as long as you are confident that if it will not sell you can cover the payments.Iv worked it out that at a 90% lend you would be making payments of $600 per month at an intrest rate of 5.35. If you can live with that then do it. As you know it is land that inreases in value more so than buildings.

    Just a note even if you flip it before settlement you will still have to pay stamp duty. An evel that is unaboivable.

    So go reap the rewards

    John

    Profile photo of jfjf
    Member
    @jf
    Join Date: 2002
    Post Count: 5
    June 12, 2003 - 10:25 am

    Neo

    as a rule of thumb if you dont have any landscaping it comes to approx $10000.00 per sq. This should cover all your fees and applications to all the authorities. Just be mindful this is very broad but it is what I use.

    Good Luck

    John

    Profile photo of jfjf
    Member
    @jf
    Join Date: 2002
    Post Count: 5
    June 12, 2003 - 10:19 am

    Hi Joff

    I have Successfully used deposit bonds on 2 of my purchases and am about to use it a third time.
    Many brokers can provide this service as do some of the major banks. How ever there are some criteria. It is like applying for a loan. you have to be able to show that you can pay the deposit when the property settles and they are reluctant to give the bond until you have finace approval. It is agood way not to tie up your money if the settlement is long.

    good luck

    john

    Profile photo of jfjf
    Member
    @jf
    Join Date: 2002
    Post Count: 5
    August 27, 2002 - 7:19 am

    Hi mark

    3 web sites will give you profiles for a fee

    1.www.realestate.com.au

    2.www.propertyvalue.com.au

    3.www.homepriceguide.com.au

    hope this helps

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