Thanks Terry.  Makes sense.  The one we're considering would return 8 – 9%.  It's in an okay area of Newcastle where CG has been 10% over 10 years, BUT it's on a very busy road and even worse, right next to an intersection.  Near the Uni though, divided into 2 flat, and in an area where rentals are tight, so should usually be tenanted.  While prop…[Read more]

Thanks for the comments guys.  Really touched how helpful people are here, and the effort you put in even when there is seemingly little return for all the time it must take you.Duckster, I'll sit down and re-read your information when the (6!!!!!) kids are in bed tonight and I can think straight.  Our income is even lower than the examples you us…[Read more]

Thanks Duckster.  Did most of what you mentioned – tidied up front, added a garden in one, took down 6 trees making the other look dark and gloomy.  New kitchen in one (second hand one we had cut down and fitted in,) 'freshen up' of the other kitchen (handles, new stove.)  New tiles, bath, shower and vanity in one.  New light fittings in bot…[Read more]

Thanks for the reply.  Maybe the company idea is something we can talk about when we have our taxes done at the end of September.  We're trying to figure out now whether carrying the losses forward might be beneficial despite the loss, but we need a crystal ball – no idea how much we'll be making in the future, and the losses will probably be l…[Read more]

Not sure what that means???

Thanks 4 your comments and fast replies.  $260,00 was the valuation.  Can't go elsewhere because loans all tied up in knots and cross callatorised (I know, I know…..)  and we need to settle on the 3rd of September.  Hope to untangle our loans  if/when we get more equity, but until then it seems like the only way to be able to get finan…[Read more]

Thanks for that.  I'm assuming if you own all the units (a block of 3,) there are no strata fees because the maintanance is all yours anyway?  Is there still a legal requirement to set up a sinking fund, though? 

Hi again crj,do you know Hill Street at all?  We'll have to buy sight unseen, so I'd be taking the agent's word it is in a 'good' part of town.Cheers,Sheree

Thanks for such a quick and helpful response.