For the sake of a couple of hundred dollars is it worth forgoing a termite inspection? Termites don’t read the certificate in the meter box and can move in fast when they see fit.

1HotValuer,

You explained this very well. Well Done.

PK

I don’t know the Melbourne market so can’t comment specifically on that. But my experience doesn’t agree with the RE’s thoughts.

I think it depends on what is planned for the area and what you plan for the house.

I wouldn’t rule the idea out completely based on the RE’s opinion, research it and then decide for yourselve. Some of the biggest…[Read more]

Yes, will be ringing Reece Plumbing. Actaully going to ring nearly everyone that’s been suggested so far and see how I go.

This thread has been wonderful for everyone that’s doing reno’s, the ideas that have come forth have been great.

Thanks again everyone.

PK

Chain Letters are illigal, can a moderator please delete the addresses this person has given so no-one gets caught in this scam.

Thanks
PK

All these hints are terrific, thankyou everyone. Will let you know how I go over the next couple of weeks.

Regards
PK

PS. Redwing, I’m going to sound dumb here, but what does EPRDA stand for. I have a contact at Clipsal so will have a chat to them about the lights/fans as well.

Well I’m not a fan of wrapping so can’t comment on that score. But just pondering on your first comment that “the land has already appreciated”.

This being the case, perhaps visit your broker or bank manager and see if you can use the equity you have in the land as security for another laon. The new loan being to cover 100% of the porpeorty to…[Read more]

Sean,

I agree with what you’ve said, the body coprate does cover the building insurance which should cover all the items listed if they have insured the building for enough.

But have you checked when the body corporate last had the buildings valued? If they haven’t done it in the last few years then how do you know that the insurance is enough…[Read more]

Thank you both, will check out these leads.

Screamin, if your looking for small quanities of tiles ie: for doing up bathrooms, then try “World for Tiles” in Malaga. Ask to see the cheapies, they are in a small alcove off the main showroom, I picked up 10 square metres for $100.

Vanities – For a new one Bunnings seem the cheapest. “Not the Full…[Read more]

Well, we’re waiting for one to settle at the moment, will need some work before renting. It’s +ve geared which will offset the -ve geared one, so don’t have out of pocket expenses anymore.

Will still be looking for another one this year (hopefully).

PK

Yes, go into “members”, find yourself and you’ll see a list of your most recent posts, you can then click on them there and it’ll come up with the whole thread ie: replies etc.

Hi Guys,

Well I’m going to add my two cents worth and make it even more confusing.

Yes, body corporate pays for building insurance but you need to make sure they have adequately insured the building eg: if you’ve added something to the building that then forms part of the building ie: security screens/doors and the insurance hasn’t been…[Read more]

Good on ya Kay.

Regards
PK

Has the equity dropped in value because she’s remortgaged to pay out his debts? So perhaps she came into the marriage with a $500K house and no mortgage, but due to his debts has a some point taken out a $250K mortgage leaving only $250K equity?

Ok, I agree it depends upon the perceived risk and the possible cost if the risk turns into the real thing.

However if you do self insure, how do you make sure you have the money available when you need it. OK, some are good at keeping funds separate to cover circumstances when they arise, but for many the money would be buring a hole in their…[Read more]

Yep, we use it for some of our properties and we use CommInsure for others. Depends on price at the time and condidiotns of course eg. CommInsure will still give us Rent Loss insurance on a property we manage ourselves whereas RentCover you must have a managing agent. However, RentCover would cover for Rent Loss in a house that has an asbetos…[Read more]

So Ken, did you make up your mind or did all this information make it more confusing?[blush2]

WA State are reducing stamp duty on purchases, think it’s by 5% and abolishing stamp duty for FHO on purchases up to $220,000.

Also Land Tax threshold in WA is increasing from $50,000 to $100,000 before you have to pay.

Don’t lose sleep over, investments shouldn’t be done for tax benefits alone and it sounds like you have made the gains you were probably hoping to achieve. Sure, the tax benenfits are an added bonus but should be the be all and end all of investing. I guess the bit your losing sleep over is the bill you may get, get onto a new accountant ASAP…[Read more]

What do we do during the day? Interesting question that one!

Bookkeeper (part-time), Mum…..I’m looking forward to writing “retired” to this question. A few more years and hopefully……