xdrew- point taken! i hear you load and clear!

sounds like at this point in my life its not worth the effort. thanks all!

Ok i’ll put a plan together and see what the bank says. Speaking of LMI Jamie, are you able to apply for a discount on the LMI if you get your property revalued and it shows it has gone up in the one year?

Oh thanks for the cognrats….its second time round…so i know what i’ve got myself in for. I guess it may not be that big a deal to the banks considering i get 3 months paid maternity leave from my company and 10 weeks paid from the government….Is the bank really going to ask when i’m going to come back to work after the baby ie 6 weeks, 6…[Read more]

Your all right, I called a property manager from another agency and even to get $450 is not really possible. For what the selling agent quoted (“up to $475”) for, the PM said $400 – $430. ….a lesson learnt from me.

p.s. the property agent was very helpful, happy to have a chat so will be good to bounce these rentals off them from time to time…[Read more]

Is a bit strange for the accountant to say P&I. But if i have a good QS then the accountant doesn’t have to do much does he. Anyway if you guys suggest Interest only, as i’ve heard many times, it makes the figures look much better (of course).

I reason i don’t fully trust my figures is that sometimes, the calculators take property cost with and…[Read more]

The old lady died, and her children who have power of attorney were the ones selling the property.  My solicitor mentioned the word Probate to me and mentioned selling could be an issue, but she didn;t really get into it.  Think she decided it wasn't such a big issue. i don't understand it.  I'll call the REA tomorrow and see if it is "still on th…[Read more]

Thanks Catalyst.  I've done a few "back of the envelope" sums as per what you outlined as well.  I just didn't quite trust myself on it and would like a professional to do it instead…..but don't know which type of professional that is.  I thought Interest only was the way to go, but my accountant had told me to pay P&I…..it didn't register wi…[Read more]

Terryw wrote:
Death maybe another!!!A vendor is more likely to die within 90 days then 30 days!What effect will this have on the sale? any special conditions.Insanity is another and so is bankruptcy and even divorce – what if the ex mistress lodges a caveat after your exchange?

Death shouldn't be an issue in this instance Terryw. The agent…[Read more]

Thanks for the feedback.  I had taken a look at other properties in the area of similar finish and offering and they are renting out for $400pw.  The agent that is selling the house says is rental agent thinks it could get 465-$475pw, but i haven't found any evidence yet.  Think I'll speak to them direct and ask them to show me examples or ju…[Read more]

If i can manage to buy at a ‘discount’ AND ‘value add’ (through renovations) targeting a 4.8% yield, would this seem to be a smart enough move or it is still a less than desirable time to buy considering we are in a flat market. I would still be in a negative geared situation….

Nice going Jamie renovating in 4 weeks.  Good results.Where do i go to get the insurance for this period?.

Thanks Derek – wasn’t quite yet research enough to know where we were in the cycle.

Freckle – how else can we make money then !

yes but its in hopes of making $2 extra in the future!