Recent content by mattyg_10

Hi Jason, I agree with some of the others. You should look into vendor finance with a lease option for example. I just completed one in Zillmere in similar circumstances. I had a cashflow negative property (-$280/mth) that I would have had to spend approx $10-15k if I wanted to sell it for a...

If your IP if going to give you +CF or a strategy that will help you pay down your personal debt faster, then go for it. If you just going to be a passive investor and sit on it, I suggest pay down more debt first. Its a fun balancing act!

who said i had to sell them to get a value? the banks are lending the money, and they say they are worth that much. I cant really argue with them, so long as they keep giving out the dosh.

The expenses were as follows... $23,810 total for inside both units. - Kitchen $4,650 ea. - Bathroom $3,100 ea. - Floor $ $3,000 $17,165 for external. - Carport $3,673 - Render /Paint $8,500 - Fence $2,390 $11,459 in Extra costs. - Strata tile fees $4,874 - Purchase costs...

I know people here love seeing before and afters on renos...this is one we did six months ago and forgot to add it here. I will get some details of expenses to share as well... enjoy! http://www.youtube.com/watch?v=sLdhA4PR9Cg

Hey Nat, The lender I work for wouldn't look at you knowing your not putting any cash in. Obviously it comes down to policy to which lender would take you on. I know with the "new" National Consumer Credit Code (Post GFC) if lenders don't show proof of where deposit funds came from this...

Nice one Wilko, Tell us a little more about the deal? I'm not sure if they want you to bring the fire wall all the way through. Depends on the council and who you work with. I've been told different things myself. I think you can get away without having to do it. Let us know how you go. MG

You can draw up to 80% of the value without paying lenders mortgage insurance. So travelbug has it correct in drawing out $44k to use as deposit for new IP. with rental income different banks have different policy in what they take from rental income, 75% - 100% for some. Best to go to a...

Hi Mixedup. Make sure you physically look at similar properties in the area you will purchase and find out what they sell for. You have to know the end price within $5k and work on worst cases. The best thing you can do is buy well. Now is a perfect time to be buying. Over supply of stock...

Hi Brian, What are you hoping it values for? What suburb is your property in? Looking great by the way!!! Matt

You guys must of had fun taking that wall paper off!!!!!!! Great Job.

Hi Guys, Looking at a corner block thats sub dividable. The back of the block where we are looking a splitting and selling OR building has storm water running straight through the middle. We have rang the council about it and they told us it is possible to build on. Has anyone gone down...

Hi 888, My brother barley finished year 12. He has no qualifications, but a strong passion to do whatever it takes and willingness to learn a few different things. Anyone could have done the same job!!!

Hi Jessie, You can get great yielding properties anywhere if you are prepared to add value. You don't always have to look at the cheapest housing to find the best yields. You may / or may not be into renovating but getting a handy man to give a lick a paint, new carpets, trim the hedges can...

Not much of a selling point if it looks like the dog house. But I agree, it really annoys me.