Recent content by greymare

Bought one Dec last year... settlement will be end of the month :)

I'm looking at renovating a brick veneer house (ex homes west). It needs painting throughout, with some minor repairs to fibro, bathroom reno, some floor tiling in the laundry and other minor bits and pieces. Does any one know someone who does renovations for a living? I am currently looking...

Hi everyone, I have 2 properties with total value of $650k and loan of $260k. So, LVR is currently sitting at 40%. I am trying to decide when to buy another property. When I started my property journey in 2007, I have the following rule: Rules for expansion version 1 1. Individual...

Yes, I can go through commonwealth bank. Do you guys think this wont be effecting the potential to sell it later on? as some banks wont give loan for property <45 m2? Sincerely, Greymare

Thanks properly lover.. Do you guys think that it's worth to buy 43m2 apparment size (1x1)? Today I went to a broker to sort out my loan and I cant apply for loan in bank west coz the size is too small... I'm not sure whether this actually means that it would be difficult for me to sell it...

Thanks everyone. Both unit are newly renovated. both built in 1970 (so probably not much in term of depreciating) I havent chacked the fees, but from all the advise, I will probably choose appartment no1. Thank you friends.:)

Both apparments are located in same area. and if the 2nd appartment is re-leased, the rental is probably $210 p/w (same with apparment 1). They are located on the same street just different block. Thanks, Greymare

Hi all, I have decided to buy an appartment for my 2nd IP because of my limited budget. there are 2 apparments that are in my short listed. Apparment 1. 1 x 1 asking price:$200,000 Rental:$250 pw (tenanted) distance to train station: 6 mins walk Secure complex no swimming pool or...

Thanks for the advice steve. I really appreciate it. Another thing that I'd like to ask is that at the moment I have finished renovating my 1st IP and on the process of renting out the place. I have talked to several PM agents and their fees are about 17.6% p.a. Plus If I use a maintenance...

I have a full time job at the moment. I have calculated and if I bought a second IP ~300K(assuming that I could get >4.2% yield), my DSR would be OK. I use the formula in the jan somers book = 0.3*annual salary+0.8*annual rent/interest rate (8.5%). This would equal to loan amount that I could...

When to buy next IP Hi everyone, I'm new to this website; however, I have a question that I'd like to ask regarding to when to buy. I have an IP with LVR of 60% and I could afford to buy another IP (~300k). However, if I did this, then I will increase my LVR to 80%. Can I get an advise whether...