Forum Replies Created
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 before auction, but trust me, you can bargain in this market pretty heavy at the moment even though the returns are so good.
If your concern is capital growth and CF, this probably isn’t a good option. Top option for self-managed super funds and alike.
J.
Agree with above thought. Looking at the figures, it would appear as though it is slightly cheaper for her to stay in her place and pay the minimum repayments.
J.
True, you sometimes have to create +ve CF properties, or, find them, which you can, but you will have to search.
Approvals are an issue yes, also, have you actually had a look at what the cost of moving a house is. Getting it lifted, transported and set again?
If that is a true situation with the properties that you say above, and depending on where you are, it would actually be cheaper for you to have a brand spaning new house built on the $50 000 block. It will rent for more then too. Just an option.
Good luck.
J.
J.
Kempsta,
It’s spot on. It is an excellent bet to hold off for a while yet, there will be, as said above bargains and positive CF opportunities arising. As long as you don’t just dive in like others did.
Good luck.
J.
J.
Get into it John, good stuff.
Not to stereotype an area, but Beenleigh? Will the tenants be very good? Probably a good idea to take taht into account….low maintenance, easy clean, durable etc. therefore I question carpet and anyover expenditure.
FYI, I completed a reno on a townhouse at Birkdale late last year, sold early this year. Tiled throughout, polished the timber stairs, only commercial grade(yet nice) carpet in the bedrooms. It was previously carpeted throughout and vinyl in the kitchen.
So take into consideration who will be renting it, i.e: target market.
Agree with not paitning the tiles, re-tile.
Don’t worry about no BIR in other room, you can easily move a portable in there. Often easier to speak with the tenant about it, they may already have a unit that can go in there, no hassle then.
Have fun!
J.
J.
Nice one dazzling, dazzling performance even.
Tend to agree, keep it simple. 50 properties! it is not the quantity, it is the quality(ie:time and money).
Keeping a mortgage open is always good. I like option two, and also the above “dazzling idea”.
REnting…..eeek. That is what people are supposed to do for you! You don’t need to do that.
Go get ’em.J.
Depends on what type of reports you are chasing. On sites such as the above mentioned realestate.com.au you can do searches on previous sales etc. but normally at a cost. Or if you are buying through an agent, get them to do some work, tell them what sort of information that you want, and have them provide it to you. Obviously on paper and verified is better.
Hope this helps.
J.
J.
Just a quick one….
Possibly you could increase the loan on your rental property(make it as much as possible) and have a small loan on your “principal place of residence. It is always quite handy o keep a loan open somewhere along the line, even if you have the ability to completely pay it out.
PM me and I can give you a good contact in both financial planning and accounting.
Sorry for the hastey reply.
J.
Yes, this renovation spreadsheet would be excellent. I have completely two reno/sells, and have just begun another, unfortunately I have not had the time to create a decent program for the initial feasibility or even the completion study to see where I am making money and areas wher I am not profiting- therefore wasting time and money. I will hopefully come up with something within the next 6-8 months once I get a couple projects out of the way. I will remain in touch. If you find anything let me know….I will stay in touch.
Yes, this is my first post, been a member for a while, will start getting into it more now.
Good luck to you all.
J.
[cap]
