After enjoying over 10 years of Somersoft I thank you Sim, Ian, Jan and moderators and contributors. It has definitely been the go to place for property investors. Missed but not forgotten and I am looking forward to the next phase.
Jane Slack-Smith
Logan your question is one many people ponder and your numbers indicate why it is so important to plan and get it right before you purchase a property, because alot of people do get it wrong and loose money when renovating.
The simple keys to renovating and making money in my opinion:
1...
The new updates for Ripehouse that allow you to customise your initial Suburb/Town Selection searches with the top Property Investing Strategies (including Flipping) I think is a real game changer. For those who have used it in the past the new functionality for the actual suburb analysis, ie...
Jane from Hotspace
I can vouch for Jane Eyles-Bennet from Hotspace www.hotspaceconsultants.com.
She has helped a number of my clients and has a whole service just for investors and she can work remotely with plans and photos and phone calls.
I had an interior decorator come up with a...
I put this quick 1.30 min video together just for my clients but it might give a simple summary of many of the considerations for those considering fixing which have already been shared in this long thread.
http://youtu.be/Za2wh_rq4zg
As others on this thread have noted there can be more...
It is really hard for anyone to comment on this as you need to fit the quality of finish in with the standard for the the suburb and even street level you are in. A quick cosmetic reno could be 6-10% of the value of the property.
However you are not doing a quick cosmetic renovation you are...
I have used http://www.serviceseeking.com.au/ with great success. Everything from removalist, blind hangers, painters... If they get a bad review or don't turn up then they are removed from the site.
I have had some of my Ultimate Guide to Renovation students talk about Service Central on...
It only works in Chrome and Safari for now. If you use others you will not be able to select a Region. Another thing to improve on later.
Jane
PS It uses after tax income not gross income
Good question - it has been so many months in the works I need to go and check my notes. When I use it I usually use the individual lenders calcs for borrowing cap based on their individual policies that suit the person and then on the second screen I enter the purchase price or borrowing...
This is a calculator I have been working on for some time to give access to valuable median price and past capital growth data quickly. There is no signup to anything to use this calculator.
Note it only works in Chrome and Safari
http://investorschoice.com.au/calculator/
It backs...
I have been showing students the Source code trick for about 4 years - I am not sure if they have got smarter but there now seems to be less price info in source code as there use to be.
It use to be pretty specific now it is more as mentioned above, the range the agents add to the property...
Depending on the interest level any of the following might suit:
1. Not as much as the bank does
2. Enough to house 26 people
3. Enough to get to my goal
4. OMG you can see me I thought I was invisible...
5. Pass the sauce
6. How about those Tigers/Blues/All Blacks?
:D
Jane
I get approached often to put forward Investors Choice Mortgages clients who fit the story the journalist is writing about. I don't advertise in any of these magazine, which I think is the common perception, however I am asked to comment on things for articles so I do that if the article is...
How big is yours?
At the beginning of a property investment journey or to those observing from outside it I think the "how many" question is the most common, because they don't really know what else to ask or how to measure success.
Those who are educated would want to know "when do you plan...
Property Developing Mentor
If you are looking for another a property development mentor then you should check out Troy Harris http://www.rookiedeveloper.com.au/
His students seem to get a great balance of hand holding and practical advice from someone doing their own deals.
All the best...
Top 10 Bathroom Renovation tips
I recently shared these tips with my students and thought you might find it of benefit. I hope this serves you
Jane Slack-Smith
Top 10 Renovation Tips for Bathroom Reno
A strategic bathroom makeover creates the right impression, highlighting the...
John, you might find this renovation of my 1860 built terrace in Carlton Melbourne a starting point as to how to renovate an old property. It might give you some ideas and budgets on a period renovation.
Click here for the article from The 2013 Period Home Renovation Magazine.
Please PM if...