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lisas
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@lisas
Join Date: 2005
Post Count: 36
May 5, 2008 - 2:25 am
I have signed up.
I believe the first 4 weeks are self-study mode before the first meeting. Then the meetings are held each quarter in Melbourne.
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
May 4, 2008 - 12:18 am
Thank you
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
May 1, 2008 - 2:44 am
Hi Judith
I have signed up for the next round and I am very excited about it – can't wait to get started.
I am happy to hear you found it so worthwhile.
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
April 30, 2008 - 6:25 am
Hello
Just wondering if any of you have found any errors on your bank statments using these products?
Thanks
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
March 10, 2008 - 10:39 pm
Thanks Matt!
Yes the floor to ceiling tiles in the toilet were painted with tile paint.
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
March 9, 2008 - 12:36 pm
Hello
Well I think I have worked out how to load the before and after shots on Flickr.
http://www.flickr.com/photos/24479622@N05/sets/72157604079590089/
Let me know if you have any problems viewing.
Lisa.
lisas
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@lisas
Join Date: 2005
Post Count: 36
March 9, 2008 - 9:52 am
Hi KIZ
Thanks. I will try to work out how to post before photos on the web for all to see. Will have a go at this tomorrow.
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
March 9, 2008 - 5:07 am
Hello
For those that are interested here is the listing of the property we reno'd. Turned out much better than we had expected, also cost a bit more than we expected, but we are happy with the result for our first go at it. There are a lot of pics in the listing.
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=104690353&f=30&p=10&t=res&ty=&fmt=&header=&cc=&c=95416751&s=sa&tm=1205038902
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
December 10, 2007 - 5:03 am
Hello Zoe
I live in Mt Gambier and my partner and I a few properties in Mt Gambier plus our PPOR. There are opportunities here though not like there used to be. There is one "bad" area in particular to stear clear from. Anything east of Pick Ave I would steer clear from. When considering the prices here in comparison to Sydney they are very affordable.
Let me know if you have any specific questions or PM me for me email address. More than happy to help out.
Kind regards
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
October 25, 2007 - 6:29 am
That is good to know Terry I wasn't sure how the lender would value the place when we refinance.
lisas
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@lisas
Join Date: 2005
Post Count: 36
October 25, 2007 - 1:11 am
We paid $130,000 and the valuation came in at $150,000 as was. With a quick cosmetic reno we expect it to be worth $165-$170k and the house next door which is similar rents for $170 per week.
We are not talking huge numbers but we are still very happy as it is our first reno to add value to an IP and we haven't had to put much money into it.
We have a LOC against another property which we used to purchase this place and we will refinance once we are finished the work required with a stand alone loan.
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
October 24, 2007 - 4:21 am
Thanks everyone for your input.
An update for you. Our solicitor contacted the bank (with the permission to of the seller) and the bank was happy to stop legal proceedings as long as they sighted a signed sale contract. As the sale was below market value the seller had to sign a waiver which releases the bank from any future action from the seller.
Settlement is tomorrow and we had access prior to this so we have almost finished tidying up the yard and we are ready to tackle the interior this weekend. As no-one had been living in the property for 5 months or so the yard was quite a mess and the interior not much better. However structurally the place is fine and all it really needs is a good clean, some new carpet and blinds.
The seller is happy that he gets out his mess with the bank (and various other debts associated with the property) and is looking forward to starting again and we are happy that we have bought a property with some equity in it. And the neighbours are the happiest of all of us I think as the house really detracted from the rest of the street.
lisas
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@lisas
Join Date: 2005
Post Count: 36
September 11, 2007 - 4:32 am
Thanks for your help everyone. I will ask our solicitor to contact the seller and get the ball rolling as soon as possible, hopefully they can contact the bank and find out exactly what is required.
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
August 21, 2007 - 10:09 am
Hello
I would recommend that you use an accountant that is knowledgable in property investments. When searching for an accountant ask them if they have any property investments themselves.
I hope this helps
Lisa
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
July 20, 2007 - 2:30 am
Hi Amanda
If only I could remember how to use Access!! It is such a great program but as I don't use it on a daily basis like Excel I would struggle to make a database from scratch these days.
Lisa
lisas
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@lisas
Join Date: 2005
Post Count: 36
July 20, 2007 - 1:49 am
Which state is the property located in?
lisas
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@lisas
Join Date: 2005
Post Count: 36
July 20, 2007 - 1:42 am
That spreadsheet is great! Would certainly make the accountants job much easier.
I use a similar one for my record keeping but include an extra tab for recording capital expenditure which calculates the depreciation etc as well as recording depreciation claims from the quantity surveyors report (I lodge my own tax return). However I find using a spreadsheet for depreciation quite cumbersome and do worry that I will make simple errors by accidentally overwriting formulas when updating it each year. Does anyone use accounting software to calculate their depreciation for each property such as myob or quicken? If so is this a fairly straightforward process?
Thanks
Lisa
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
July 18, 2007 - 11:53 pm
Hi Vanessa
I suggest you speak with a reputable insurance broker. They will be able to recommend the best insurance for your situation and also for the best price.
Kind regards
Lisa
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
July 11, 2007 - 12:20 am
Hello
I have used RateBusters for 3 separate loans, my home and 2 investment properties. The service was very good and the internet banking site and the offset accout are great features. HOWEVER their break costs are very high. If I pay out our cheapest IP loan within 5 years we are looking at at least $2000 in break costs.
I have decided against using them for our recent purchases as I need the flexibility to refinance without the high expense. As the loan you are looking at is for you PPOR this factor may not be as important to you.
Best wishes
Lisa
lisas
Member
@lisas
Join Date: 2005
Post Count: 36
May 3, 2007 - 12:33 am
Hi Suzie
Based on my experience I say use a quantity surveyor. They will detail for you every possible depreciable item so you can be sure you are maximising your tax deductions. I used an accountant to work out the depreciation for a 2 yo property I purchased a few years ago and also used a quantity surveyor the following year (just to check if I was getting the correct deduction) and the quantity surveyors depreciation schedule was more beneficial to me. Accountants can estimate the depreciation but it is difficult as they are not building experts.
I now use a QS for all properties regardless of age. Also the cost of the schedule is deductible in the year it is purchased.
Lisa