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From: Sam Riley
Hi everyone,
I haven't posted a message on here for a long time but have enjoyed reading many of the posts. I really admire the sincere commitment of the many gurus on here to helping others in pursuit of their dreams, whether that is a first home or multi-million $ developments.
As Zig Ziglar say's... "If you help enough people get what they want, you can eventually have everything you want"
Anyway onto our story, one of the veterans on here asked me to post it, he wishes to remain anonymous but he was fundamental in securing the right finance & re-finance at the right price. So if anyone is seeking any finance I would contact this guy A.S.A.P,(hint, hint) Financially speaking He's the best.
Well 6 months ago me & fiance purchased a unit for $129k in Katoomba st, Katoomba. We put $28k and lots of work into it and just got it revalued for 190k, but local agents have offered us 200k-210k for it. (we get about 3 or more letters a week with offers from interested sydneysiders who want a romantic blue mountains weekender)
Because it was our first home we got the 7k
and the stamp duty waved. so we borrowed at 95% with the L.M.I. built into the loan. so after legals + fees + deposit - the grant it cost a grand total of $700 to purchase.
So figures are.
129,000 purchase price
700 expenses
4,000 re-payments
28,000 major reno
161,700 Total
so instant 30,000 in equity
we borrowed some of that to purchase a cashflow +ve juice & espresso bar across the road. (so now we are rookie freestylers too) and we also paid off our reno expenses.
So after re borrowing, we have the apartment appreciating, 30k equity, some experience and more money in our pockets than what we started with.
Oh yeah we also turned this derelict unit into a beautiful apartment.
stainless gas appliances installed, stainless dishwasher, polyeurothane kitchen, tumbled marble tiles, undertile -heating for kitchen & Bathroom(only cost $400!) new carpet, new paint, redressed and stained rosewood timberwork, built-in wardrobe, brass hardware new false ceiling & cornice, halogen downlights & upgraded electrical switches, circuits and box.
We both were working fulltime in between all this so we took a little longer than expected
but it went so fast.
Well we are glad we took the plunge and I write this to anyone who is considering making a start. Anything is possible and we feel with the money, knowledge, experience and contacts we have made/gained from all this we can now look to bigger projects with confidence and excitement!
Thanks again to everyone.
ta,
Sam
Hi everyone,
I haven't posted a message on here for a long time but have enjoyed reading many of the posts. I really admire the sincere commitment of the many gurus on here to helping others in pursuit of their dreams, whether that is a first home or multi-million $ developments.
As Zig Ziglar say's... "If you help enough people get what they want, you can eventually have everything you want"
Anyway onto our story, one of the veterans on here asked me to post it, he wishes to remain anonymous but he was fundamental in securing the right finance & re-finance at the right price. So if anyone is seeking any finance I would contact this guy A.S.A.P,(hint, hint) Financially speaking He's the best.
Well 6 months ago me & fiance purchased a unit for $129k in Katoomba st, Katoomba. We put $28k and lots of work into it and just got it revalued for 190k, but local agents have offered us 200k-210k for it. (we get about 3 or more letters a week with offers from interested sydneysiders who want a romantic blue mountains weekender)
Because it was our first home we got the 7k
and the stamp duty waved. so we borrowed at 95% with the L.M.I. built into the loan. so after legals + fees + deposit - the grant it cost a grand total of $700 to purchase.
So figures are.
129,000 purchase price
700 expenses
4,000 re-payments
28,000 major reno
161,700 Total
so instant 30,000 in equity
we borrowed some of that to purchase a cashflow +ve juice & espresso bar across the road. (so now we are rookie freestylers too) and we also paid off our reno expenses.
So after re borrowing, we have the apartment appreciating, 30k equity, some experience and more money in our pockets than what we started with.
Oh yeah we also turned this derelict unit into a beautiful apartment.
stainless gas appliances installed, stainless dishwasher, polyeurothane kitchen, tumbled marble tiles, undertile -heating for kitchen & Bathroom(only cost $400!) new carpet, new paint, redressed and stained rosewood timberwork, built-in wardrobe, brass hardware new false ceiling & cornice, halogen downlights & upgraded electrical switches, circuits and box.
We both were working fulltime in between all this so we took a little longer than expected
but it went so fast.
Well we are glad we took the plunge and I write this to anyone who is considering making a start. Anything is possible and we feel with the money, knowledge, experience and contacts we have made/gained from all this we can now look to bigger projects with confidence and excitement!
Thanks again to everyone.
ta,
Sam
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