Hi Brian,

I’d love to message/email you if possible, am just considering a burnt out reno deal right now and would be keen to hear from you if you think it was all worth it, and any warnings!! Your profile doesn’t accept messages, so I’m hoping I can post in here and you may still be around!! my email is: wisepearl (at) gmail.com

Thanks,
Emma

Hi Dilmah,

Congratulations on doing some research and trying to educate yourself before receiving your inheritance money. Something you didn’t mention in your post is what you current living conditions are and if you have any existing debt on your house where you live (referred on here as PPOR – principal property of residence).

A priority could…[Read more]

p.s. on that note, anyone got any tips or templates for writing scope of work for painters?

thanks jeano

i actually had an excellent quote for replacement of whole kitchen so will be going ahead with that. i had also read about what u mentioned, apparently u need to be careful if replacing benchtop and leaving cupboards, could possibly be gaps not sealed perfectly and water seepage can damage the cupboards. plus there’s also the…[Read more]

i did mine on e-tax and used the depreciation schedule. what bit are you stuck on?

if your depreciation schedule is anything like mine, you’ll end up with two nice numbers. one is what you claim on capital depreciation, ie the building. and the other is on plant and other assets. Put the amount you can claim back on the building into the box…[Read more]

from how you described the house, it sounds as if the lower level room would be either a guest room or perhaps a teenager’s retreat. I doubt either of these categories would be needing a bath… roomy shower + toilet makes more sense.

thanks Kent. I remember him talking at a recent APN, was an excellent speaker and came across very knowledgable.Cheers, Emma

gumtree wrote:
Hi Emma,Saw your post in 2009 about sharing your time for learning DIY renovating, how did you go?I am in the same position now with 2 weeks of free time in Perth and being an industrial sparky willing to work hard to learn, could you reccomend anyone?Cheers,Andrew

Hi Gumtree,

Unfortunately that post got me nowhere since then…[Read more]

Catalyst wrote:
Where is the unit located (what city?).  

its in East Perth

Scott No Mates wrote:
If the layout is functional & cupboards sound, either replace like for like or change the doors & handles only.

How about the benchtop?

it is functional, the only thing lacking is a proper pantry space! leaning towards just replacing doors + shiny new handles, cheaper and faster. cuboards are indeed sound, and in quite…[Read more]

luke86 wrote:
Right, I think if you are targeting executive market then you should do the job properly and replace the cupboards.

hehe i thought u might say that will see what the kitchen guy says when i meet him on monday, and will see what the difference in total cost would be. could be at the end of the day my reno budget determines my…[Read more]

just for extra info – this is a property i already own, and its an inner city apartment which i'm hoping to rent to executive market. competing with many newly built large complexes, so finishes should be to a high standard. catalyst – u mention u paid for the undercoat, but what was on top of that for the final finish? did you DIY the doors?

itsandrew wrote:
FYI the pics aren't showing up atm.  Getting a message on the page that says " Oops… there's nothing to see here …"

that might be because i forgot to change album view to public, oops… might work now

csydney wrote:
Hi EmmaThanks for the post. Your post made sense and I have asked renovating for profit for a reply. I have of course removed your name from the e-mail. I am very interested to see what response I get. I hope I have not made a bad financial decision by investing in the programme. I am still going to push ahead with it and to see…[Read more]

Terryw wrote:
I think you should get some proper advice first.

I liked a much earlier comment about a term deposit whilst researching, and Terry's multiple comments about seeing the right professionals. I think you're in such a fantastic position having that lump-sum cash, so take the time to educate yourself on how to most successfully invest…[Read more]

what am i doing wrong?! can’t open your blog… get this msg:

You’re about to be redirected

The blog that used to be here is now at http://www.propertyinvestinginaustralia.net.au/.
Do you wish to be redirected?

then if i get redirected it says it doesn’t exist. but looks like Elea managed to open it just today so why can’t I get there?

Hi Cameron,

I recently went to Cherie Barber’s seminar in Perth, and I’m aware she promotes the use of spotters fee to build up cash for investing. She mentions her graduates receive thousands of dollars per fee, and do this by creating a business proposal outlining all the due diligence and research done on a property to a potential buyer and…[Read more]

I find it interested you commented “delayed settlement” of 30 days. I would say 30 days would be a standard settlement time, but delayed could be 3-4 months. If you put offer on both, you can settle one in 30 days and the other in four months, gives you time to seek additional funding… is the second property leased? could it be easier dealing…[Read more]

Take photos of anything you feel goes against your strata by-laws. Present them to the strata manager.

At our recent AGM of council of owners, one owner presented photos showing no less than four apartments had erected structures or done something contrary to the strata rules. With photographic action it is easier, and potentially less emotional,…[Read more]

Just to give you some more info Wade… What Richard said is entirely correct, but to put it into an example to simplify matters for you:Let's say hypothetically you own a house worth $400,000 and currently have a mortgage owing on it of $200,000.This means at this point in time you have equity of $200k in this house.Let's say you decide to access…[Read more]