I have just had a quote for getting an extension on my house from admittedly probably the best quality builder in the state.  The quote?  $3000 – $4000 per square metre!!CheersK

Hi FrostyOur investing strategy has changed over the years.  Just over 4 years ago we started buying positively geared property in Darwin and also in a Qld mining town.  We sold out of the mining town because, although we were getting a 10% return, dealing with the property manager was more hassle than it was worth.  Darwin property prices went th…[Read more]

Positively geared properties ARE out there.  You just need to look.Earlier this year I sold an existing 1br apartment in the CBD for $200,000.  It was renting at $300pw and had never been vacant.Right now I am building a couple of houses that will sell at about $230,000 and will rent at about $280pw.  With depreciation on a new property that is ju…[Read more]

The bank is under no obligation to provide you with a copy of the valuation.  You pay the bank several fees when applying for a loan, including "valuation fees".  You are not actually paying for the valuation, rather you are paying for the bank to obtain a valuation.  There is a difference.  The valuation contract is between the valuer and the ban…[Read more]

Further to what Scott said, you have been put on notice that the electrical wiring is faulty.  If there was a fire, arguably your insurance company could decline to cover you because you were aware of the fault but did nothing to rectify it.If I were you I would get a second opinion.  Two grand is a lot of money to spend but if the wiring is f…[Read more]

I use Susan Banks from Specialised Business Solutions in the Brisbane CBD.  Her number is 07 3221 1100.  I can't recommend her or SBS highly enough.CheersK

I much prefer tiles.  They are not a great deal more expensive than lino.  I recently got a quote for having lino laid in the kitchens of some houses I am building and there was only a couple of hundred dollars difference between having the lino laid and getting tiles put down.I agree with the above comments though.  If it is an older style ho…[Read more]

You know, there are some posters on this forum who shout doom and gloom and use lots of exclamation marks and use BIG CAPITAL LETTERS!!!  They say nothing but negative things and often take offensive and accuastory potshots at people.However, left to their own devices, these posters invariably trip themselves up and show what narrow minded and…[Read more]

I use Specialised Business Solutions in Brisbane CBD.  Call Susan Banks on 07 3221 1100.  I have mentioned her several times on this forum and everyone has been very happy with the firm's advice.CheersKaren

You could buy a cheap toilet and vanity from Bunnings and could pick up tapware on Ebay.  In fact, you may be able to pick up a cheap toilet and vanity on Ebay if you look out for one near you.  I often see good quality second hand tapware on there.I have recently done a reno and bought an excellent quality second hand rangehood for $3.00.  I pi…[Read more]

I can't help you out with ANZ but I have had several investment properties with Genworth as the LMI.  They have refunded a portion of the insurance every time I have sold within 2 years without me having to ask.  I just get a cheque in the mail.With Genworth, if you sell within 12 months you get 40% of your LMI back and within 1 – 2 years, you g…[Read more]

I don't understand why the bank would require all those things.  What would the bank do with a house inspection?I would ask your lawyer why you are required to get that information before the bank will approve a loan.  I'd be interested to find out why.CheersK

Hi beemseekerI wouldn't believe a price estimation for repairs given by a REA.  Get it independently costed.  Even if will cost only $30,000 you are really only buying something $15 – $20 below value.  I think that properties below value will become easier and easier to buy.If you could confirm a price for repairs and negotiate the purchase pr…[Read more]

Let's reason this through.You have your own PPOR that you currently live in.  You need to move away from your PPOR for work reasons.  Provided that you have lived there long enough for the ATO to be satisfied that it is your PPOR (normally about 12 months) then you can move out of your PPOR and, provided you don't have another PPOR, you can re…[Read more]

My goodness you are a lot of henny pennies running around claiming that the sky is falling down.I will continue to invest in property for the foreseeable future.  Whether or not property replicates the past, I believe that property is a solid investment.  People will always need houses and I am more than happy to oblige those that can't afford t…[Read more]

Hi IDI didn't say that property prices will double in 10 years.  I said that a house bought today would be worth in 10 years time.  And the recession that happened in the late 70s?  Well, property prices have gone up substantially since then.And your suggestion that an average house (being "your house") will be worth $10 millions when incomes ha…[Read more]

Hi KatherineI have heard some fantastic snippets of advice along my investing journey.  One of them was something to the effect of:"In 10 years time you will look back at the investment property you bought and think that it was a bargain and you should have bought more of them".Property goes up in price.  Sure it may go up and down along the way b…[Read more]

Hang on for a minute.  The cosmetic industry makes billions and billions of dollars every year from selling products that don't work.  Should ASIC shut down all the cosmetic companies too?  What about the weight loss industry?  What about Lotto – should that be legislated against too?  After all, the television adds suggest that if you buy a tick…[Read more]

Hi EliThey are in Ballarat in Victoria.  Thanks anyway though.CheersK

While there are forclosures (known as mortgagee sales) in SA, there are no real bargains to be had.  Once upon a time banks would sell properties for whatever they could get for them but now they are obliged to get at least 2 – 3 independent valuations and take the median price as reserve.  This means that there is a reserve for all mortgagee s…[Read more]