Love hearing what everyone’s done this year :-) In the last 12 months we’ve bought 5 and sold 3.

Currently renovating a commercial property, waiting for house to be removed on the adjoining property. Just signed up tenants for the property that settled last Friday while we obtain council approvals for townhouse development.

Whilst we’ve missed our goal on 9th May we have moved in the right direction. Need to re-set our deadline – thinking end of this year….

Hi Oscar

Great to hear everything is running to plan with your build.  Just wondering whether you're doing something particular to achieve that sort of rent?  It appears 4 bedders in Epping are asking $800+ rent so I'm guessing maybe you're furnishing them or something else?

Cheers,

Tracey

Well done Dianna, awesome work.

I love that it looks lived in rather than staged because of the items you've chosen for this property – ie. linen – not the usual beige or pale blue.

Just a few days on the market before going under contract is terrific.  Out of interest, do you know what are current days on the market in that area?

In addition to the property being CF+ I would include buying undervalue to the equation so that if you need to exit the property for any reason in the future, some capital growth has been locked in at the start.

No need to be sorry – it was my own fault for not doing enough due diligence – it just meant the profit was about $15 – $20K less.

The $3,000 seems alot compared to what they do it for in Tassie.

I'm not a solicitor but it sounds to me like you need the sale to go ahead, rather than pull out.  Does the purchaser have any 'escape' clauses in the contract? If not, I'd be asking for settlement ASAP.

I agree with JacM, your solicitor should be able to sort out a solution to this.

Hi Blessingz,
The one we sold wasn't actually on the market.  A purchaser came to view the renovated one which we advertised in the local paper and when they discovered they knew the tenant in the adjoining unit they made on offer on that one.
If you want to view what these are like to compare with your purchase turn on receiving messages in your contact details and I'll email you a link.
Also, re the timber-look vinyl – we've used that at another property and the good quality one was just as expensive as carpet but was non-slip and looked fantastic. 
Cheers, Tracey

Thanks to Nathan and Daniel for a great presentation earlier this month!

It was also interesting and useful to be reminded about landlord insurance which is an area I probably haven't given enough consideration nor scrutiny.

Cheers,
Tracey

Ah, beautiful ranch wall!  Can definitely be painted over – check out the photo in the bottom right hand corner of our web site where the wall with the heater has been painted: http://turnersbeachapartments.yolasite.com/ 

Just light sand, correct undercoat and paint as normal – we don't worry about filling in the grooves/joins, just make sure they are properly covered in the painting process.

Private message me if you want any more photos of some others that we've done.

Cheers, Tracey

Interesting thread with you mortage guys battling it out on the technical bits.  The banks will do what they do, as per the agreement and it's unfortunate if you feel you've been mislead.  I'd be looking at what the break cost is, compared to what I can now borrow the money for ie. if the penalty is 1% and I can now borrow from another lender @ 1.5% less, then I'd be in front (depending on other costs). 

I guess too, it depends whether you think interest rates are going down further, up or staying the same.  If you think they're going down further it might be better to break sooner rather than later so the interest penalty is less…..lots of variables which is always the challenge when deciding to fix or not to fix.

If it's any consolation – the only time we fixed it was at 8+% years ago for our first property purchase and then interest rates went down and then we sold so had a break fee The upside for fixing: it gave us peace of mind, knowing that our payments were going to be managable for the first few years in our first home.