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Its currently fully tiled but my intention is not to rip the tiles up, just lay hardwood over the top - A lot of tiles are cracked & i don't have like for like replacements. Are there any other ways i can prove my "intent" without advertising the property for rent? ie... I already own a PPOR...

Hi Chris thanks for the advice, its much appreciated! The house was built in 1976 so not much dep on that part, & I'm planning on replacing the flooring in the entire house & furnishing.

Thanks for the info gents! I don't have a current depreciation schedule. So, the best way to go about this would be: 1: Make the IP available for rent first. 2: Demo the bathroom. 3: Get a scrapping schedule - QS. 4: Install the new bathroom. 5: Get a diminishing schedule - QS.

Hi Guys, Just wondered if anyone has any info on this? I've just purchased an IP property & I'm planning on renovating the bathroom - Around 5k. The property isn't advertised for rent as yet, because I think I the bathroom needs replacing before I rent the house out to maximise the rent &...

If you are planning on extending the buildings footprint, you will need to calculate the current (FSR) floor to space ratio. Seek advice from your local council, as they will advise what the maximum allowable FSR is in a particular area. Then you can calculate your new addition accordingly &...

Yep, good advice & I would also stay away from apartments as there's an oversupply with more to come. If you are thinking of purchasing an apartment I would make sure its unique & stands out from the crowed. On the Job front, I think there's plenty of work in Darwin with employment the best in...

Try "Able Finance" & ask for Steve Banks.

For some reason I thought you were chopping a room up. Are offices expected within your area?

Firstly, I would check property comparisons Ie.. does a 5,3,2 add more value? What is the your local land square footage average? What is the your local building foot print / FSR average? In some areas, what you are proposing would de-value the property as large rooms are expected in certain...

Depending on your personal strategy. Wanting large BMV discounts without any comparisons will offend most agents. I like to keep agents on my side because its good business practice to do so. Jump on RP Data & get some comparisons to use for your negotiation power & meet with the agent over...

Cheers. Just did this and they sent me 41 e-mails of the same 4 PDF's Ha. They are all powerwater corp docs: Cover sheet with assets found, Sewer, Water & Power. My input was "possible swimming pool to the rear" The plans were schematic in nature & indicated the general vicinity of the...

Great post BTW. Looking on the DBYD website, you select a ring around the property and input what works you intend to carry out ie... Add another bedroom, car port, sub ect... and they will send you the relevant map - If you have an account?

Check your credit file on Veda. I have one for 2k & the bank hit my credit file. The same as a credit card would, so be mindful that its still bad debt. As others have said, If you can service then there's no issues.

Agree - The single most important question to ask the REA!

I recently asked RP Data this question and they said only with a court judgement and awarded under special circumstances.

Hi guys, Just wondered if anyone is adopting this strategy? The strategy was used by someone in an API mag I was reading a few months ago and it's been playing on my mind! Also discussed here: http://somersoft.com/forums/showthread.php?t=78841 It looks like a very creative strategy...

Will the Bank require quotes for the reno work being carried out?

Could you lend the Reno costs from the LOC?

Good question! I'm about to apply for a LOC at 90% LTV with CBA. (Dep for another IP) From what i understand, LMI is triggered at 88% LTV with CBA. Has anyone done this at 90% LVR lately? If so, As CBA does not have set policy, did you need a contract in place before they released...

Questions are good! Have your end goal for retirement in mind, and then work it backwards! After that, the fun starts! Set yourself short term goals - and write them DOWN. Pin them on the fridge, use them as your screen saver. Look at them weekly. Tell your friends & family, this way...