Recent content by Montoya

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    WWSSUD? What Would Somersoft Users Do?

    25k @ 0% interest until Jan 2017 (balance transfer offer - whatever I have owing of not paid off to be transferred to a similar offer) 25k @ 7.7% (fixed secured car loan) So not high rates as far as personal debt goes.. Hence why it's not an obvious choice to just pay down this debt first...
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    WWSSUD? What Would Somersoft Users Do?

    Oh we can't.. Well, don't want to would probably be more accurate. The 50k income we want to produce would simply be to allow the other half to drop down to part time hours by the time we hit 50 (20 years away). So not too much of an unrealistic goal I don't think DT, I know normally bad...
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    WWSSUD? What Would Somersoft Users Do?

    End goal: Buy a PPOR in Sydney's inner west. Minimum 2 bedrooms, doesn't have to be a house, but must be dog friendly (ground floor unit/villa/townhouse). Maintain our IPs to eventually have a comfortable rental income ($50k per year or so in today's values) Current situation: In our early...
  4. M

    Selling in Inner West Sydney

    Sell it for even more than the crazy prices going these days via vendor finance to somone like me who have FOMO and can't go to the banks due to too little deposit but have no issues with serviceability!
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    RBA May 2015 announcement - 25 point cut

    AMP 4.7% under 1 mil - no announcement yet re. rate cut yet RAMS 4.65% - same as above
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    Insurance questions

    If buying into a strata property you don't need to arrange building.insurance, that is organised and paid for by the BC. As for landlord insurance, it's generally less than one weeks rent per year, if you do a search, you'll see Terri Scheer and EBM are the two that are highly regarded.
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    Property Managers - Deception Bay / Rothwell / North Lakes

    Mareea at Homes4U - Margate I was sceptical about it as they were way more expensive than others (8.5%) but my God has she been worth every penny. I wish I could list all my properties with her. I now understand all those posts that say that you shouldn't just compare their rate. Level of...
  8. M

    [REDCLIFFE PEN] 2 Offers Accepted, Only have finance for 1

    But upon application they are accepting smaller lot size, and frontages <20m as is currently in their docs. I have acquaintances that purchased 12 months ago and have gone through the process. The only catch is that whilst it's still zoned as low residential, can't be sold as DA approved split...
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    [REDCLIFFE PEN] 2 Offers Accepted, Only have finance for 1

    http://www.domain.com.au/2011776790 Don't be fooled by the photos. They must be from when the owner lived there and photographs from before renting it. 90% of the downlights needed replacing, every screen door needed new meshing or replacement, damaged kitchen and bathroom cabinets, and most...
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    [REDCLIFFE PEN] 2 Offers Accepted, Only have finance for 1

    For those playing at home, despite my gut feeling, went for the corner block slightly further away from Redcliffe. My partner was leaning towards this one more as the low set brick and tile was going to be less in maintenance until we knock down, and we believe that corner blocks allow for...
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    [REDCLIFFE PEN] 2 Offers Accepted, Only have finance for 1

    Definitely have the borrowing power, just don't have the savings for both. (90% LVR)
  12. M

    [REDCLIFFE PEN] 2 Offers Accepted, Only have finance for 1

    Ahhh! Have had two offers accepted, and torn between the two. Appointments to sign first thing tomorrow morning. Both properties in Kippa-Ring QLD Property 1 - Corner block 656m2, 33m frontage 3 beds / 1 bathroom / 2 garage lowset brick and tile, original kitchen & bathroom, carpet/lino...
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    Increase Loan and then split

    Thanks all for the replies. Managed to get the increase, split, then leave the funds in redraw and get a cheque book to start writing them cheques. Just flew into Brisbane today, and have two days of seeing as many properties as possible. This is the fun part!
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    Thoughts on Wyong Nsw?

    Our IP in Gorokan (south side, the nice side) had 10 applicants after the first open and went for $50 above the agencies estimate. Like most suburbs there are good streets and bad streets. We did a quick reno to attract a better quality tenant, and it did wonders for our bank val. Are...
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    Laminate flooring -

    Why do away with beautiful genuine floorboards? Why not restain if its the colour you're not a fan of. You can get away with just having a pry bar, mallet, hand saw, and jig saw. A circulaw saw in lieu of the hand saw would make the job much faster though.
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