He he, looks too cheap.

J.

Can a moderator please sort out knowitall?

J.

Agree with all of above. Maybe is she could hang out until to resign until the actual “notice” will cover her until approval is complete. After that you will be fine.

And well done on getting that preoperty the other day Wayne.

J.

Hey Surrey,

I am a sparky by trade…

Knowitall is being a clown agian with this post:

++A g-unit type motor is the best rated motor. WInged blades are also good as they dont hum and rattle. I would not pay more than 50 bucks for a cieling fan. I have three in my living room and you wouldnt even notice the heat (im in cairns) You can also get a…[Read more]

Well done Wayne!

J.

No worries Solomon, let us know how you go.

J.

Solomon,

I apologise for the fast reply. But this should help, let me know if you want more specifics. I don’t know the perth market too well but if you can:

* Buy a two storey(nothing too flash), live upstairs, rent downstairs. or simliar scenario

* Live in it as long as you have to to satisfy the grant.

* Complete renovations

You have now…[Read more]

Doesnt sound like too much of a drama.
If the current living area has a window(assume yes), then, all you may have to do is erect a wall- simple plasterboard with a doorway. Possibly minor re-wiring of electrical and re-flooring. If the space is there- do it. Possibly add a WIR as well.

If you are not extending the external walls of the…[Read more]

Excellent stuff.

I had always considered “living off borrowed money”. I have no problem with doing that. I have recently set up a new trust account specifically for the purpose of low docing and property.

Great point about the fact that interest paid on a loan is much more beneficial than the equivalent amount paid to you as an employee after…[Read more]

Salla,

I am a full tiem renovator and have for starters, seen some very poor “floating timber” floors installed. If you want timber flooring, do not go cheap, it looks cheap, wears cheap and will not be ceap to replace down the track. A possible problem with timber flooring is future water damage. A substantial leak/spill will damage the…[Read more]

Welcome aboard!

Get stuck in, everyone is here to help, it is great!

Take care all.

J.

Spot on!

For your first reno…..especially, you may go through a period where you are working really, really hard and not seeing a whole lot in the way of results. That will happen, maybe even for two to four weeks, it will feel like you’re just running on the spot. But don’t be disheartened, because then all of a sudden everything will happen…[Read more]

No work…I agree with the posts saying that you basically need to educate yourself as much as possible, acquire knowledge and mmost importantly be postitioned to act! Now that you know this is what you want to do it would really annoy you if you saw a top opportunity only to have it slip by because you were not “positioned” to leap on the…[Read more]

No lease………

Hhhmmmm, you poor bugger! Agree slightly with the lads, and I can sort it out for cash for you if you like .

But no, cathnniv has a good point, send them a letter first, letting them know it’s time to get out. If they don’t abide, go in, dump their stuff out the front/or sell it, change the locks, done.

Or if he is actually…[Read more]

About tradesman, yes, if you look at good, reliable tradesman, they will easily make 80k a year. That is with many of them not working on new dwellings etc. I guess the only thing slowing them down now will be lower consumer spending and sentiment.

I also bid you good luck with the renovations!

I am now renovating full time also. But the onlt…[Read more]

106% lending. whoah, I don’t even want to know the rate on that!

J.

Depends on the lay out…..

Say, if it was two storey there could be the ability to create two separate tenancies. Rent the both for $120 or so. Possibly would need to add a small second bathroom and kitchenette, but could be worth it in the long run.

Hope this helps.

J.

Redwing,

Thanks, yeah, it was doing it’s job, thats for sure. I only had a small loan on it and required that hit of capital for another project that wil make me more. It is only a very small studio, so it could not be used as security(very unfortunate!)

Marisa,

You’re spot on, there is info everywhere! It just takes time and effort, which…[Read more]

It’s probably an idea someone from Brisbane gave you some insight. Excellent idea investing here. I was at an information night last night and we ran through some excellent figures.

Anyhow, what do you expect to get out of the money that you can borrow? If you are looking CBD, your only chance will be a small one bedder or studio, 10-15km from…[Read more]

Sorry to come in late, I have a property in the city settling in two weeks. I just sold it so that I can access the money tied up in it. This would appear to have been an excellent place to sell it.

Sold it for $120 000. Rents for $225 p/week. outgoings quite low.

There are still some of these kicking around in Brisbbane City. Mine sold…[Read more]