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  1. wombat777

    First IP :-)

    Yes. I'm going to have the depreciation report done just after the handyman finishes his work. Since the property was recently renovated ( new bathroom, new kitchen, new deck, new carpet, new aircon unit ) I'm hoping to get $2500 to $3000 depreciation in the first 12 months.
  2. wombat777

    First IP :-)

    That was the initial plan, however in the first week after settlement I am having some minor work done to tidy it up and fix some safety issues. This will include some painting and new carpet in the downstairs rumpus area, security screens or locks on upper level windows ( child safety ) and...
  3. wombat777

    First IP :-)

    An existing house about 40-50 years old, although recently renovated so it is in good condition and there is a mild depreciation benefit.
  4. wombat777

    First IP :-)

    Visited the property for the first time today. Quite happy with the location and the general condition of the property. The primary purpose of the visit was to get some quotes for work to be done ahead of putting a tenant in, although settlement is about 5 weeks away. I have a shopping list...
  5. wombat777

    First IP :-)

    Thanks. Your stories and others at Wentworthville leagues helped get me into the right mindset, although somersoft has been generally helping anyway. I'm heading in a week or so to Brisbane to see the property first hand ( at this stage I just have about 100 photos ). Will get quotes on...
  6. wombat777

    First IP :-)

    Thanks! The decision to do something was only 11 weeks ago. In that time approx 12 properties carefully considered in 4 suburbs, offers submitted on 3 properties.
  7. wombat777

    First IP :-)

    Rinse. Repeat, i.e. more research, perhaps with a second purchase before the end of the year. That said, need the ink to dry and then need to secure a tenant for the first one as a first priority.
  8. wombat777

    First IP :-)

    Prefer not to provide specifics, however I was primarily searching in the $280k to $350k range. I was looking for CF+ and a good location for capital growth. Managed to knock $20k off the starting price. Vendor has also kindly done some repairs and more painting since I had the B&P done...
  9. wombat777

    First IP :-)

    Deception Bay. I was also considering Kippa-Ring and toying with Redcliffe and Kallangur.
  10. wombat777

    First IP :-)

    The contract on my first IP is now going unconditional. The property is a recently-renovated highset in the Moreton Bay Area. There was a significant amount of investor activity in this market. I should achieve a yield in the 5.2% to 5.8% range. This should put me in a CF+ position. I...
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