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  1. rizzle

    Saving a deposit: PPOR Renos (extract equity) Vs. Salary savings

    All else being equal, for someone looking to get an IP under their belt in the next couple of years. What are the arguments for ploughing as much salary as possible into savings vs. doing more PPOR renos and tapping into the additional equity that is created as a result? I'm faced with the...
  2. rizzle

    Resources for investing in cash flow positive property?

    Are there any particularly noteworthy resources (books/blogs/articles etc.) that walk you through investing for cash flow positive property? In the reading and research I've done, I feel like I've got a good grapple on how to invest for capital gain, but my financial situation dictates that I...
  3. rizzle

    LVR LMI Question - Equity top-up

    Let's say I buy property X at $500k at 85% LVR. In 12 months time it is now worth $550k. Can I extract the extra equity without incurring extra LMI (assuming I keep the LVR at or below the original 85%)? If I decide to take the LVR up to 90%, do I cop a full LMI charge again, or the...
  4. rizzle

    Prioritising my value add projects

    There's a few jobs I want to do to my PPOR, with a view to improving it's valuation (to extract equity later). It's a 1960's unit (2/1/1, 5 units on a single level block) in Moonee Ponds. Which of these are likely to have the biggest impact on a valuation (I can't afford to do everything at...
  5. rizzle

    Establishing your strategy - how?

    Assume you've decided to build wealth through property. How do you go from that to a pen on paper strategy that you will follow to get to your goals? I understand a few of the various ways in which one can make money in real estate, having read books by the likes of Lomas, Yardney and...
  6. rizzle

    Laminate flooring -

    Looking to get laminate flooring installed in my kitchen/living area. It's 37m2 and would imagine it would be a fairly straight forward job. Having no knowledge whatsoever of flooring and it's associated costs, would I better better off going through a flooring shop to have the job completed...
  7. rizzle

    Options to get in to Brisbane

    After buying my PPOR a few months back and since speaking with a broker, my borrowing capacity is not very high. I could maybe stretch another 90k to 150k on top of where I am now. In hindsight I should have continued renting and bought IP's instead, but I have made my bed. My problem is that...
  8. rizzle

    Bathroom reno project -

    Looking for a bit of help with my PPOR bathroom reno project. I'm renovating with a view to adding equity. My personal preferences are secondary to what will generate equity. Keeping costs down is a priority and ideally would like the job to cost sub $3k. Current classy 60's bathroom looks...
  9. rizzle

    Painter recommendations - Melbourne - Inner North West

    I've got a small domestic job coming up (1x living room and 1x bedroom) so I'm looking for painter recommendations. I'm in the Inner North East. Who is your go to for domestic painting work in Melbourne? Thanks :)
  10. rizzle

    Tax implications of renting out my spare bedroom (PPOR)

    As the title suggests, what are the tax implications of renting out the spare bedroom in my PPOR? I assume: Rental income taxed at my marginal rate Partial deductions for home repairs (e.g. to replace faulty hot water system I might get deductions on 50% of overall cost) Are those...
  11. rizzle

    Confused about insurance

    I recently purchased a property at auction, which settles at the end of September. It will be a PPOR but tenants have a lease there until March 2015 (I'm negotiating to see if I can have them vacate by October). I'm confused about the types of insurances I should be taking out. I currently only...
  12. rizzle

    I win auction, tenant lease until March 2015, I want PPOR

    I'm going to auction this weekend for a PPOR. The agent has said "currently leased out until March 2015 at $300pw". A couple of questions: Is there an easy way to break that so I can move in sooner? If no, and the tenants remain until the end of that lease, will I have a mortgage...
  13. rizzle

    Can I contact the body corporate manager to get more info on a property?

    Such as info about the tenants and frequency of maintenance required?
  14. rizzle

    How to price a pre-auction offer?

    As the title suggests how should I price a pre-auction offer? This is for PPOR so not necessarily interested paying absolute rock bottom - more interested in securing a place that I would be happy to call home. Should I go all guns blazing with the most I'm willing to pay for the property, or...
  15. rizzle

    Identifying infrastructure developments that will deliver CG?

    I am going to attempt to replicate Margaret Lomas investment strategy of buying in areas with good yields (5%+ at least) that have infrastructure projects on the horizon that are likely to bring some additional CG. I have a few questions though: When you have a starting area of Australia...
  16. rizzle

    2BR Melbourne PPOR (FHB) - How are these suburbs?

    After a fair bit of research I'm starting to establish a list of suburbs that I would consider living in AND believe I can afford. Key criteria: Budget of $420k Must have 2 bedrooms Must be within approx 14k of CBD (preferably closer) Must be within 1km of train line. Must not be a big...
  17. rizzle

    Stamp duty discount implications: rent for 6 to 12 mths then ppor

    As a first time buyer an I still eligible for stamp duty discount if I rent out the purchase for the first 6 to 12 months and then move in?
  18. rizzle

    I made this cost estimator spreadsheet for first home buyers

    I made the below spreadhseet to get my head around the costs of buying my first home and thought others might find it useful. It's still a work in progress, so if any of the numbers look off (particularly the costs section), please let me know. Cost of buying your first home calculator (Victoria)
  19. rizzle

    Thank you + Questions RE: 20% deposit

    Firstly just wanted to say a thank you to the Somersoft community. The abundance of knowledge in this place has been invaluable to me (as a lurker so far). I'm amazed in particular at how many buyer's agents/brokers/industry professionals etc. are willing to give away free insights. Jake I will...
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