Thank you all for your great help!

Terry – you have helped me in the past on the forums, and will definately give you a buzz if I need a lawyer!

Cheers

Hi guys,

Thank you very much for your responses. Looks like I am going to need some professional advice.

Where does the line get drawn about whether I go to an accountant or a lawyer?

Cheers

Hi Benny,

From a price perspective it is pretty good. Its in innner Brisbane about 2km from the CBD (Bowen Hills, Fortitude Valley area).

Body corp is on par with the area at roughly $1,200 per qtr. Rates are also normal at roughly $300 per qtr.

Its close to the extensive development at the RNA showgrounds so hoping the property will…[Read more]

Hi Jamie,

Thanks for your comment.

I believe not all the apartments in the block are serviced. There are owner occupiers and other rentals that are not “serviced apartments”. We have already received preaproval on our finance but not 70% at all. I will call the bank on Monday to ask them about this.

Apart from the possible 70% LVR, there are…[Read more]

Good idea Wilko. I suppose the reason to revalue would provide the opportunity to tap into the freshly generated equity to buy more property and also provide justification to charge more to tenants?

Bit of a "how long is a piece of string question" here but for the investors out there that renovate and then revalue, what return are people…[Read more]

Hi all,

thanks for the great advice. 

As I am looking at taking more if an active investment strategy, I think an older unit might be the answer and renovate only when i need to so that I can delay the renos as close to to when I sell the place as possible.

cheers

kurt

Thanks you all!

Great advice!

Hi MunMun5,

My wife and I have just registered on the Meetup site and will be there. Great idea!

Cheers

Kurt

Thanks for the great comments all.

It looks like the general consensus in definitely for old.

Richard – it would be greatly appreciated if you could email the API article ([email protected])

A question I now have for all of you is this (which has stemmed from Steve's book I am reading):
Assuming I buy an older unit, would you suggest
1)…[Read more]

Hi Terry,

Yes Dad is still working so hopefully that won't be problem.

Thanks  for all your comments on the rest. Looks like there is hope!

Cheers

Kurt

Hi All,

Firstly I would like to say thank you for all your replies (even if a few of them provided some bad/realistic news). I really appreciate all your opinions and your knowledge sharing is great!

Regarding my PPR, it's in Eatons Hill QLD. When we first bought it, lifestyle had more of a preference than location. We had just come from the UK…[Read more]

Hi Benny,

We bought the place in March 2012 for $533k. Personally I feel we got it for a good price as the owners had built elsewhere and needed to get out. We have also totally gutted and redone the master bathroom ($10k), and had a fire place put in for $3k (yes Qld does get cold ). 

Therefore assuming the bathroom and fireplace have added a…[Read more]

Thanks for the swift reply Jamie. 

Basically I am just taking what I owe the bank ($505k) from what I paid for the property $540k. 

Is this the wrong way to look at things?

Cheers