Definitely do not panic, lol. There are several other mines surrounding Dysart, but if you did proper due diligence prior to buying you would already know this. It will definitely see a drop in demand with an increase in available properties, but this is a primary example of the risks involved with investing in mining towns.

Good luck to those…[Read more]

Eric,

You may want to enlist the help of some of the finance gurus on this site, but to me after one read through your post the thing that stands out like the dogs proverbials is your loan setup.

I find it strange that you have P&I on your IP and IO on your PPOR, I would have thought it would better the other way round.

Purely my opinion and…[Read more]

Hi Wendy,

I have been living in Rockhampton for about a year now after moving down from Mackay. To be totally honest at this point in time I think you are much better investing in a house in rocky. From what research I have done there doesn’t seem to be the same quantity of units in rocky as there are in other similar sized cities, in…[Read more]

Feel free to PM me with the details, hoping you might be somewhere near me with a quote like that

I don’t know about demolition prices, but to have all the asbestos containing material removed from this house latest quote has come in at $13k.

Thats what I’m thinking Mattsta, $15k for peace of mind

What annoys me is MP’s are supposed to be elected as a representative of the people in their electorate, which seems to be overwhelming support for KRudd, but as we have seen in the media some MP’s have stated that despite their electorate favouring KR they are going to vote for Julia.

Can any modern politicians even spell the word…[Read more]

OK

So second inspection has confirmed that 90% of the house is asbestos, walls and ceilings, just waiting on the quote to remove and dispose of it all. I’m not expecting it to be under $15k.

Builder says to just sheet over it but I am concerned what effect it may have on resale in the future as we are obligated to disclose in the contract that…[Read more]

Robbie,

I think after the move to the Pilbara with the multitude of opportunity surrounding you I would be asking myself how attached am I to my current career? You don’t have to be in mining forever, but 10-20 years work, smart with money, educate yourself on not only what to invest in but how to create momentum in your investing so you don’t…[Read more]

I would definitely be checking the T&C’s on the card, I have never heard of a CC that offers interest free on cash advances as someone has already mentioned. Terry, Jamie or Richard would probably be able to confirm or deny this.

So Nat,

how did it go? Was it a learning experience

Catalyst,

unfortunately all internal walls and ceilings are fibro so we will be doing something about the whole house whichever way we go. One quote we got was just fro three walls in the kitchen, to open the kitchen/dining/lounge into open plan, was $2300+GST. I’d do the job myself but I have a young family and I’m not really willing to put…[Read more]

Hi Josh,
brilliant thread mate.

Here’s a link to some info regarding development of the Galilee basin and what infrastructure plans are on the horizon, hope some may find it useful in their decision making.

http://www.qrnational.com.au/MediaCentre/MediaReleases/Documents/QRN%20Galilee.pdf

Looks like good signs for Mackay, Emerald, Alpha, Bowen…[Read more]

Thanks Emma,I am looking at ripping out all the walls and ceilings in a property I just bought, was hoping to get a rough idea on price in here.  Going to do my owner builder qual soon and have a crack at it myself.  Fingers crossed.  Hoping to save some money that way then get a good plasterer to fix my mistakes.

I have recently moved to Rockhampton after living in Mackay my whole life.  My personal opinion would be to stay on the South side of town, there are some new estates growing rapidly in and around Ooralea.  Brand new shopping complex currently being finished which contains Woolworths, close proximity to indsutrial sector in Mackay and adjacent t…[Read more]

Definitely possible, you just have to find the right PM business or RE Agent.  My PM business is only a small home based one, but we offer a one off fee for advertising, finding and screening tenants and basically hand delivering a short list for approval by the owner with our recommendations/thoughts on each.  Once a final decision is made we h…[Read more]

Thanks Derek,

I thought, hoped and assumed as much. The plan is for the PPOR to be an IP in 5 years, by which time I would estimate it would be positive and worth the tax advantage of being owned by the trust.

Sorry to Hijack this post, but I have a question similar to this relating to CGT.

If I transfer my PPOR from my name into that of my family trust do I have to pay CGT?

I agree MAQ.  Stage 1 of the boom in Gladstone may be over, but stage 2 and 3 are on the way over the course of the next 5 years.1 Key event in stage 2 will be the construction and operation of Wiggins Island Export Terminal which will be servicing the Surat Basin.  Agreed that during the construction phase population peaks, but the operational s…[Read more]

Well it didn't work out the best.  Two main reasons:1.  Frame was built on top of the floors 2.  Because of the slight grade on the land, clearance on one side of the house was 3ft, on the other only 1ft.  The only way the builder would do it was if the floors could be ripped out, which was fine by me but with the frame built on top of the flo…[Read more]