Good advice Richard,

I agree – for a more advanced renovation you would be looking at more than a 10% overall cost allocation! It would also depend what profit margin you are happy to get at the other end as well wouldn't it. i.e. if you spend over the point at which you are adding value to the end property you are going to be eating into your…[Read more]

Hi Shangrila00,

We are embarking on our first renovation next year, but have learnt that 10% for a cosmetic renovation (interior & exterior paint,kitchen,bathroom,general tidy up) is a reasonable figure to use. 

Cheers,
Jye and Tahnee.

Hi Waydo,

Just touching base to see how your year has ended up mate. Hopefully all going to plan.

We are still working towards doing our first reno in Perth next year. Heaps going on for us.

Would be keen to catch up via email. Are you still at waydo1984@gmail.com?

Our hotmail account got hacked so we couldn't use it anymore. Our new email is:…[Read more]

This is excellent Steve!!

I always thought the site had a lot of potential to be easier to navigate.

It's far brighter and professional looking.

We love it!

Jye and Tahnee.  

Hey Waydo,

Sounds great mate. Yes we’re in the area research stage at the moment as well. As I said we’re looking at Perth though. Yes, lots of numbers and stats to look at, but we’ve learnt that it’s the self preparation and doing the research that will determine whether or not the project will be profitable or not.

We’d love to hear how you go…[Read more]

Hi Waydo, We are just starting to learn about reno's as our preferred strategy as well. What we have learnt so far – as Luke86, wisepearl, Allen_A and Catalyst have pointed out is probably most important thing to look at first is "what is your target market?" – first home buyers? empty nesters? young profesionals? reitrees? Without knowing that…[Read more]

No worries lbluedento, For us we've assessed our situation and are confident we'll be able to have our money work harder and smarter elsewhere; hence having our place on the market right now.  We're not content to hope for the capital gains that are unlikely to come in our area (esp. for our dwelling type – every second dwelling in our suburb is a…[Read more]

Terryw wrote:

JT83 wrote:
Evening all,  For all-I can confirm (through my discussions with my accountant) that in a situation we described above – where you move out of your PPOR and the rent another home you will not pay CGT if you sell it for a 6 year period after vacting it. The ATO still considers it to be your PPOR for that 6 years prov…[Read more]

PaulDobson wrote:
Hi JTLuke mentioned above that Steve 'used vendor finance to build a cash flow business.'  Instead of selling your Corlette property at a loss (if you sell it for what you bought it for in 2008, it will be a loss), another alternative may be to sell the property with vendor finance (VF).  This has the potential to convert y…[Read more]

Qlds007 wrote:
Bit late now given that you have already settled on the property.Just need to bear in mind that substiantial renovation and strata titling the units will trigger GST so you need to factor that you into your end sale price.CheersYours in Finance

Hi Richard,

We are learning about renovating now, but very little is mentioned about…[Read more]

Evening all, Firstly, apologies its been so long since I've replied. Secondly, thankyou all for your input and advice-very much appreciated. Just to clarify a few points I guess from our side of the fence – and as some of you point out – we fully understand that neg.geared property doesn't have to mean the end of the world-provided the figures s…[Read more]

Hi Janine, Yes so do I. If I find any further info I will repost on this forum thread.Cheers, Jye Thomson.

Hi Janine, Saw your post and thought I'd comment on it because we are essentially in the same position in wanting to learn more about structuring  as well – via trusts and/or a company – not in regrads to having a similar equity position unfortunately.Sorry I don't have any advice – as we are very new to investing and just making a start now as…[Read more]