Do you have landlord insurance that covers you for the recent lease on Agnes?I do have landlords insurance, but the people had not paid any bond I don't think it would be covered
You may need to bite the bullet and put something on the market. Preferably something that isn't cross-collateralised if that is possible. I'd be inclined to put everything on the market and sell whatever gets an appropriate offer first.
Everything is Xcolled. Corio loan is $151,000, might sell for $170,000 at a push less RE fees. As mentioned in the above post Agnes owes more than it is worth because of corio. IF we sold Corio that is CF+ we would have no choice but to put the excess money (If any) onto Agnes as they are mixed up. Gladstone is the only one that is worth selling as it only has a loan of $250,000 on it and should sell for about $350,000. BUT if we sell that, then we are left with the DOGS as someone else posted!
Can you add value to anything by doing a subdivision or getting a DA to put on a second house?No, no chance of that
Could you turn Agnes back into a holiday rental?
That might be possible, but it would need all new furniture etc as the stuff that was in it when purchased was in terrible condition after 2nd last tenant left and RE did not tell me! We went down while it was empty and had a good look, and I was shocked that they had been trying to rent it like that... That was Ray White RE who are no longer in business in Agnes
Could you rent out your PPOR or get a boarder?
This little house we are in at Bundy is very small and my Auntie and uncle are living out the back (Say no more about that) We have spent money trying to fix it up, but have run out before we got the bathroom done. shower over bath, 1600 X 2400. I do not think anyone would WANT o live here as a boarder+ what do we do with the relatives if we desided to rent it out?
If you're going to have difficulty making any payments you should be proactive and talk to your bankNow this is one I have thought about, I even have the papers printed to fill in
Can you sell a car?Have an old Daewoo lanos that my husband drives,my old car (Cheap on petrol) as he works hours away from home + the good car Commodore that is held with the bank for a personal loan to reno this house! so no way of selling any cars
Have you got junk to sell on ebay?Might try Gumtree instead as no fees Have a garage sale.This is defiantly one of the best ideas, we will be defiantly doing that when he gets out of hospital
Are you due for a tax refund? YES! If so can you get that lodged quickly?have it booked in with out accountant for the day hubby comes out of hospital If your husband's time off work will reduce his taxable income for this year look at doing a Income Tax Withholding Variation.When he gets over the operation, he is hoping that the construction industry has picked up again and will be on "Good" money again and he is not a fan of TWV I am affraid.
Have you or your husband got any skills you can sell?no, not really Get a book by Loral Langemeier called The Millionaire makers guide to creating a cash machine for life
