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  • Profile photo of maree_bradrossmaree_bradross
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    @maree_bradross
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    Hi Denis – my 2 bobs worth is I would consider one of the Big4 banks.

    Sounds like you are going to need Mortgage Insurance and the Top 4 banks have more pull with the MI's. For example we tried a non Top 4 bank and got turned down as my hubby had changed professions and didn't have 2 years work experience in his new field (despite the fact this is his 3rd trade qualification and has always been employed). Richard Taylor was able to assist us with securing the loan with a Big bank – same MI.

    Cheers

    Profile photo of maree_bradrossmaree_bradross
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    We had one done by Catalyst for a property in Gippsland. Report is very thorough

    Profile photo of maree_bradrossmaree_bradross
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     freudian slip hock/hook? lol

    Profile photo of maree_bradrossmaree_bradross
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    We restumped ours 3 years ago – was $6k cash for a 3 bedroom post war cottage (1948). Was done in 3 days – we did remain in the house whilst it was done. We patched the cracks and repainted where needed. We did have to get a plaster in for a bad spot which was $200 cash. Hope that helps – I realise cash probably won't work as you will need receipts but add 10%

    Profile photo of maree_bradrossmaree_bradross
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    We had a 3 bedroom w/board cottage restumped for $6k cash 3 years ago – had it finished in 3 days. We want to paint externally this cottage – tenants are quite keen to do the labour in lieu of rent – so would be interested in a cost comparison.

    We just had upstairs in a 2 bedroom townhouse polished (2 bedrooms, hall, bath and toilet $1500. We just got a quote to paint carport, windows, fascia boards on said townhouse – brick veneer $3k.

    Hope that is of some help?

    Profile photo of maree_bradrossmaree_bradross
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    Hi Robin – is the land zoned commercial land?

    Profile photo of maree_bradrossmaree_bradross
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    agree that it is a solid suburb that should continue to grow in value

    Profile photo of maree_bradrossmaree_bradross
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    Is it an open lease? Are the tenants doing other things in regards to rent? (ie. sometimes my tenants stain/paint in lieu of rent?

    Profile photo of maree_bradrossmaree_bradross
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    pain in the ar*se

    Profile photo of maree_bradrossmaree_bradross
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    maybe speak to your super fund you may be able to access funds under the hardship clause.

    Profile photo of maree_bradrossmaree_bradross
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    I would say yes – our IP is 1948 and it was definately worth our while

    Profile photo of maree_bradrossmaree_bradross
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    This may sound silly but wouldn't Builders Warranty be available as the builder would of been insured whilst building your place? Otherwise you may have to claim through your insurance/Body Corporate

    Profile photo of maree_bradrossmaree_bradross
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    Hi Karen – Banks are just taking there sweet time with mortgage applications at the moment, have everything crossed that it works out for you.

    Profile photo of maree_bradrossmaree_bradross
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    I was just reading an article about a lady who collects hair from women's hairdressers to make her home render for her house restoration. Apparently human hair is very strong :-)

    Profile photo of maree_bradrossmaree_bradross
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    Never too late – your accountant can easily amend the previous years returns. We used Catalyst and it was a quick turnaround and around the $600 mark (which is claimable). Our property is very old and it is still very worthwhile.

    Profile photo of maree_bradrossmaree_bradross
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    I would hang onto it – if it is going to be neutral. Is the loan currently Interest Only?
    Also don't forget to factor in depreciation costs – it is around $600 to get a schedule done. Our Investment Property that was our PPOR is post world war 2 and we are claiming around $1500 per annum depreciation.

    Profile photo of maree_bradrossmaree_bradross
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    I would I know of people who didn't do a final inspection and when they got the keys on settlement discovered all the built in wardrobes had been removed

    Profile photo of maree_bradrossmaree_bradross
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    just wanted to add that very ugly high rise on the highway that has all the antenna's on top has just been given the go ahead to turn it into a classy motel – so that shows investor money is following with the infrastructure $ that is happening there

    Profile photo of maree_bradrossmaree_bradross
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    great going – awesome and inspiring

    Profile photo of maree_bradrossmaree_bradross
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    the approach to Frankston is beautiful definately gorgeous coastline! The new Marina development on the Mt Eliza side is starting in December – I think that will change rental prices and probably force a lot of lower income people inland. We just bought in Seaford and are very happy

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