Forum Replies Created
this sounds like a great idea. Just be careful that you budget your reno and make sure you spend the money in the right areas within the property.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
what are the stap duty implications with using the nomanie clause when buying a property ?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
You really need to know your limits also, How much can you afford to spend ? How much can you borrow? When you know this it will help you deside where you can invest.
In regard to property prices, it might be an idea to have a look at some past trends as they are a good INDICATION of what you can expect in the future. Just do your reserch and you should be fine.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
yep yep, hopefully someone can shed some light on the matter.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
if your looking to invest interstate i was in Darwin recently and saw that they were getting 10% returns there. Although i didnt do any reserch seems pretty good at a glance, might be something to consider.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
HUGE rent, what the property worth in the market ?
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Personally i dont know too much about wraps but i feel that they are risky. I prefer to buy and hold myself, so for me i havent done one yet but wouldnt say i will NEVER do one.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Originally posted by leewizza:Thanks heaps guys…
when you say create equity by renovating, does this mean backyard, etc?
We built our home and inside has all you need. eg, 4 b/r, a/c, porcelain tiles, etc… however we have no backyard at the moment (just dirt). Front yard is lovely and looks a treat.
Do you suggest that we save the money for the backyard or refinance it onto the mortgage?
Regards,Lee
LW
if the home is spanking new then id suggest to throw it on the morgage as putting in a lanscaped backyard would add little to the value of your home, besides your not ready to refinance. Maybe do the yard in your own time slowly, this would save some money. You need to remember that time can also help in this sort of stratagy. For now just do your best trying to decrease the amount of intrest you pay. Might i suggest to talk to a broker? just so you can make sure you have the right loan structure in place for your home, and any future investment you might make in the future.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Hey there Leewizza, you have given yourself high expectations which i commend. Now all you need to do is follow through with dedication. My first course of action would be to create more equity in your current property by maybe giving it a renovation.Giving your current property more value obviously equals to more equity.
Id also like to suggest that you need to SAVE !!! Make sure you have a budget you can follow, if you have something written down, it makes it easier to control your spending.. If you havent done so already make sure you current morgage is on a weekly repayment scheme, it will save you intrest.
just a few simple things, hope it helps
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
hahaha these are exactly my thoughts most of the time when watching these shows, makes me laugh.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
i agree i think that its more then worth while to have a property manager look after these sorts of things
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
i rarely listen to media articles, be it on tv, radio or papers. Its important to keep your fingure on the pulse but a lot of the time these articles we read are a minority of the larger picture.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Hey all,
for me things are doing ok, just got back from holidays! I just finished advertising for a 3 bedroom unit i am developing and am now waiting on council to give me a building permit.. I swear they take forever !
Soon enough i will start building YAY ! just trying to keep myself out of trouble in the meantime [biggrin]
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
I guess that means that you need to show repairs, not complete bathroom renovations as your suggesting. Although if the first tenent was to leaaave the property after a short time, it might be posible to get SOME reno worke done that is claimable
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
hmmm what a confusing thread
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
HAHAHAHA yep too funny [biggrin][biggrin][biggrin]
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
kewl, i like it when things are simplified. Sometimes when you think about things too much you comlicate them more than they should be. Unfortunatly i do that quite a bit.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
well P_I im impressed, good on you for making that happen and will definatly be more friendly with the next council planner i come across.
Always good to have a friend on the inside helping you out or making you aware of things that you might not know. I do this alot with REA. Never thoughtof planners in the same way. I will from now on [biggrin]
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
i would talk to the tiler myself and like others have said try and come up with a compomise.
id also like to suggest that if you have rental properties that you use your own tradies. Try and be more hands on and get people that either come highly recomended by people you trust, or someone you have used previously.
hope this helps
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
hmmm maybe you should look at a money partner.
If your unable to find one, you might just try and concentrate on your finace, create some equity in your home maybe ? Getting it valued might be an option, it could help with your lending capacity.
You could also look at buying a neutral or positive geared property.
hope that helps [biggrin]“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
