Hi SteveI have a copy of the Complete Renovation System and I would say that I found it extremely worthwhile.  I used it recently to complete my first 'real' renovation project.The case studies and presentations were excellent.The checklists were helpful – although I did create my own, just used theirs for reference.The spreadsheet template was…[Read more]

Thanks for the advice, Deb, we're just trying to insure for any tools/equipment or new things (e.g. a new air con, ceiling fans etc) that we have on site during the reno.Scott-no-mates – is contractors all risk insurance available to individuals or only companies/organisations?Kaz

Welcome KellyThis is a very active and knowledgeable forum, where you can certainly pick up lots of great information (I certainly have learned a lot) as well as share your own experiences!Cheers,Kaz

I've been involved in my first development project recently and have found the council that I am dealing with very helpful.  When it has come to getting advice, I always take everything told to me 'with a grain of salt' – after all, until it's down on paper it doesn't mean anything.  That said, they have been very helpful in explaining process a…[Read more]

Good on you for questioning it.  I recently changed property managers on a couple of different properties in different locations and so did the big phone around and fee comparison across a number of real estate agents and property managers.A few things that I learned from my experiences:- It is definately worthwhile to shop around as there are…[Read more]

Hi RebekahI've recently been involved in my first development project.  Some things I have done/am doing to learn:read books (have the Ron Forlee book, that is quite good)went to a property development one day workshop – though the content wasn't anything earth shattering, it did do a lot to get me moving in terms of motivationspoke to people who…[Read more]

Hi there!I'd be inclined to agree with the Terry and Dazz.  If you wish to own your place then go for it.  I think when the government is offering some free money – i.e. FHOG, then you should take advantage!  You could use anything potentially left over as well as equity to fund IP purchase(s).  That could mean one more expensive IP or several che…[Read more]

Hi Guys,I have been driving past two blocks of units next to each other up for sale in need of a cosmetic reno that look ripe for strata titling (am assuming they aren't already) for about a year and each time I drive past I think 'what an opporunity, wonder why they haven't strata titled'.  I haven't been involved in any strata titling before,…[Read more]

Thanks – I think they are the sort of thing that I'm after.  Seems that no one has a generic name for it, just a bunch of proprietary names!Cheers,Kaz

Thanks – is blue board a cement sheeting?   I spoke to a builder mate – who also didn't know exactly what it was called – but said there is a foam type product and an aerated cement type product.  He said not to get the aerated cement one as it's more expensive and hard to work with on an upper storey.Any thoughts on that?Cheers,Kaz

Thanks for that, I've been sourcing info from a variety of sources and it seems that this is indeed the case.The wall is most probably failing due too old age – it's made of old railway sleepers (wood) and is over 20 years old.It seems though we have to tread to carefully with the neighbours as we want to sort it out without it getting…[Read more]

The retaining wall and fence are the same thing – it's like the retaining wall extends up beyond the ground level to form the fence – so the retaining wall and fence are leaning.Kaz

Hi Richard,Thanks for your response, my error – we are not cross collateralized – as in we do not offer more than one property as security.I will send you an email as I'd be interested to chat some more about the topic with you.Cheers,Kaz

Congrats!Just had a look at your blog also, great to read about what you've been doing with regard to the reno.  Doing a cosmetic reno is next on my list as well!  Just need to finish the small development project we're working on first!Good luck with the next one, can't wait to hear about that one too!  Really good to see people out and doing gr…[Read more]

Hi,This is a really interesting topic.  Having multiple properties purchased using equity from other preoperties we do have some degree of cross collateralisation in our loans in order to achieve that.I'd love to hear some of your strategies on using equity to purchase investment properties whilst steering clear of cross collateralisation if you…[Read more]

Hi KimberlyWelcome to the forum, good on you for making a start!Suggest that you spend a little time on the education side of things so you can be confident with what you're doing.There are quite a few good books that talk about positive cashflow property including Steve McKnight's books and also Margaret Lomas has some good books about it…[Read more]

Hi SjostromA couple of other things you may want to think about in addition to comments of others, for this property or just in general:-  Agree, the rental return on the outlay is nothing special-  Depreciation Schedule – you can depreciate renovations that have been conducted, so although depreciation on a newish house would be better, still l…[Read more]

Hi Maltrevers,As illuminati points out there are quite a few things to consider.  As much as we want to hold onto our properties there can be times when it is reasonable to sell.  It is really important to evaluate the considerations:-  What is the driving reason for wanting to sell?-  Is it a time sensitive reason and therefore the sale needs to…[Read more]

Yeah, that's a tough one.  Personally I wouldn't be keen to live close to big powerlines but as an IP – well, someone else might be ok with it.  Sure you'll purchase it at a 'bargain price' – but that will be the same for when you want to resell down the track and you need to sell it at a bargain too!If your plan was to hold it long term and you c…[Read more]

Hi Joez,can you share a little more context to help people respond to your query?Kind regards,