Thanks Corey & Benny

Hopefully I hear back from the lenders today re options. Benny we will put your suggestions forward thank you. Yes, at this stage the funds will be only used for a deposit. Any lurking notions I had of throwing some at crypto are now well and truly gone.

I realize now my last equity split was under 80% so no drama hat time.…[Read more]

Thanks Corey.

Not really the news I wanted to hear, especially the outlay.
You implied a contract could assist the situation? So it is more to do with assurance as to the use of the funds rather than me proving I am across my financial situation? Would borrowing with the same lender for the buy potentially help?

Cheers

S

Thanks Richard I appreciate your response.

It took me by surprise as it was not a requirement last time I cashed out an equity split. This is smaller than the last as well, only 45k.

What can I expect this to cost and what is involved? A quick trip to a FP or is there a bit more to it than that?

Regards

S

Hi Narinder

My two cents from a newbie investor that has their PPOR in Upper Coomera.

Jump on RE and search sold prices in Coomera, Upper Coomera and Pimpama. I would also suggest reading all the threads you can find on the suburbs in this and other forums.

https://www.realestate.com.au/sold/property-house-qld-coomera-126253042

Coomera is…[Read more]

Pimpama is now what Coomera was 10-15 years ago, fringe suburbs with land for Africa and there is still a lot of land in Coomera. Make of that what you will.
Coomera is just now getting the infrastructure that was promised 10+ years ago.

Hi Ethan

It is all finally being wrapped up now, DA is submitted for carport and I have completed requested work from the BC for the bedroom conversion, once Approved sitting variation is back all work will be approved and submitted to council. I have certainly learned a lesson and am lucky it didn’t cost me more than a delay refinancing.
It…[Read more]

Hi Benny

By that, I presume you mean that your friend is bound to pay rent in lieu of the broken lease? i.e. they are “in the gun” for rent until it is leased anew to another tenant

Correct.

Wait up though – if that rental uplift is minor (a few %), this could be understandable. e.g. If the lease your friend had first signed was about to expir…

[Read more]

Hi Benny.

Sorry rookie error with the medium pricing, i gave you combined. 3 bed 325k, 4 bed 415k, hence I felt I could try to do better going in next time.

I thought the bones were good with easy wins cosmetically. The block was flat with side access which is not so common in the aria, elevated so no flooding issues, close to train and school…[Read more]

Property is now tenanted @ $425pw.

Thanks Matt

I got on to him eventually, apparently family health scare interstate. I am fine with delaying the work but the lack of communication is not on.

Yes I got on to gum tree & reported the account, had an email from him that afternoon.

Wont be using him again, was a one off purchase and install of an “as new” air con with full warranty…[Read more]

Hi Terry

Yes this is what I want to know. I am paying interest, insurance, rates ect while holding & renoing but is this and deprecation claimable as there is no tenant yet? The property is 100% IP & will be rented as soon as work is completed. I am just concerned that the expenses may require a income to be claimed against?

Also is…[Read more]

Hi Benny

Thanks for the reply. Questions answered.

Cheers

S