Thanks for your replies.Yes the holding costs were a little low. Should be based on at least 90 day holdJaffasoft, all my figures were for worst case scenario. I.e. interest rate 1% higher than the current variable, Sale price $50K less than what others are going for, and the reno should only cost $10K, but I allowed $14K to be on the safe…[Read more]

Its not that far out. Only 3 hours from CBD.

Good question Richard. I would assume so. Have there been cases where finance is not available in Country locations?My intention is to offer subject to finance and inspection, so if we cant secure finance then we are covered

No it doesn't, ha ha. I haven't actually said which state it is in.

Haven't pruchased as yet. It is a mid-sized town about 13,000 people with a train line to the CBD. Reasonable employment there too

More details:$110,000 Purchase price$7,000 Purchase cost$120/week repayments$140/week rentIt in the country, and unfortunately we wont be able to get to see it prior to purchase. Will be relying on a Building Inspection to assess the current condition of the property

Purchase Price: mid $200k'sReno Cost: $25kTotal Cash in: $56,624.00Expected Profit: $15,726.00Project length: 4monthsThis was your original estimate. I am guessing the profit has increased with those sort of offers?Well done, the place looks great. With the renovations on the outside, it really gives the perception of additional living space.

I'm with adel bank on a variable loan. Havent been informed of anything as yet. They are usually very good with that type of thing.

HI Baby@investing,I heard something similar at a Martin Ayles Seminar. I think it comes down to how the taxation department interpret the earnings. For example, lets say you are renovating on or two properties per year on a part time basis, this would definitely be classified as capital gains as it is not you primary source of income. On the…[Read more]

Thanks for the feedback Steve. I wasn't too concerned with my score at -820, as it needs to be put in context of your goals and timeline. My goal 18 months ago was to be able to afford a family home without saving for a deposit. Using the FHOG and $10,000 loan my partner and I purchased a townhouse which we renovated and sold for $60K profit which…[Read more]

I'll put in a bid for lowest score, -820. If I sell all my assests, pay out my debts and stop working then apparently I will survive until…well… today

I'll put in a bid for lowest score, -820. If I sell all my assests, pay out my debts and stop working then apparently I will survive until…well… today

While the resource industry is seeing a huge boom at the moment, that is largely due to China's enormous growth in recent years. If China slows down their growth, even by 5 or 10% then Australia will feel a huge impact. Throw on top of that, the USA has several trillion dollars worth of debt (from the War on Terror), so they are in a high risk…[Read more]