Recent content by Ergophobia

My mum just bought her first ip at age 67 with little income. Finance was difficult, but her credit union came to the party. My advice, educate yourself here and by talking with people who have done it before (re-agents, finance brokers and investors) but dont buy into their sales pitches...

Interactive flood map http://www.brisbane.qld.gov.au/community/community-safety/disasters-emergencies/types-disasters/flooding/understand-your-flood-risk This site is great, it even gives you a report.

Thanks, That led me to the QDC which outlines the requirements http://www.hpw.qld.gov.au/construction/buildingplumbing/building/buildinglawscodes/queenslanddevelopmentcode/Pages/default.aspx

Can anyone direct me to any information that outlines the residential design code for Brisbane? I'm looking for the equivalent of Perthshire R Codes, that outlines boundary offsets, building heights, Window restrictions etc.

Here's my cosmetic reno story http://somersoft.com/forums/showthread.php?t=80533 Bought in 2012 for 325k, 4k reno, recent valuation for equity drawdown put it at 525k. Could be 4k value add and 196k CG though :) My strategy is: buy well, don't over spend on improvements, rent and...

Well done Shadow I'd love to hear about how you cashed in on this prediction

Sorry for the late reply... here is the before and after.

Well there is a happy ending to this story, thanks to Summerland credit union . mum's Loan is approved, and she might even make the settlement date .

Yes, her solicitor has informed her of the consequences... pitty he didnt confirm finance was approved prior to drawing up the contract. So much for the NSW system protecting buyers.

It gets worse, It turns out the contract is unconditional So if we miss settlement on 24 July mum will incur interest charges of about $440/week. We have decided to ditch our awol broker and start a new loan app without offering security over the second property.

Hi Peter, The property she is buying is in her own name. She also owns an investment property 50/50 with no mortgage.

Ok, after phoning the lender (fastlend / AFSH Nominees / NAB) there I couldn't get anywhere as they needed the broker to resubmit the application without the second property as security. the broker finally called us (from england) and said that, due to my mother age (67) and low income (60k)...

Thanks for the replies The deposit is from her savings, im not sure why they are asking her friend to guarantee the the loan. I need to talk to her broker who is on holidays o/s

My mum is in the process of buying a property and has hit a hurdle. She is under contract pending finance approval for purchase of a house for 233k, loan is 150k so LVR only 64%. She owns an investment property valued at 315k, no loan but tenants in common with a friend 50/50. The bank...

Im meeting with the agent tomorrow to draw up the offer... ill let you know when its locked down ;)