Hi,i think i need some help.I’m 32 years old & a recent resedent in australia.My wife & i currently live in rental property.My income comes from two sources work & network marketing.The networking is growing were as my ‘job’ doesn’t pay well.In looking to the future i want to get into real estate.Here is my question,i’ve found two properties $62k & $65k.Both are units,does it make sense to buy one?I have an obtion to borrow 50k for 5 years,paying only the interest at 4%.The rental costs $180 a week,were as the interest will cost me only $2000 annualy.
Hello Mickey,
You will need to get some more information to make a choice.
You will need to consider all property costs. This includes shire rates, water rates, land tax, strata fees, insurance, maintenance, loan costs, vacancy rates etc.
Trade these expenses off against your rental income, as well as the adjustment to your tax return.
Once you know the answers, you will be able to make a more informed decision.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auOn simple face value they seem to meet the ’11 second solution’…so good job. It sounds promising….
Pete
P.S. If you dont take them up let me know (shoot me an email) and I might be able to do something with them and get you a finders fee – [
]…Beware of the dreamtakers…
Mickey,
Sound like a good investment to me. It would be nice if I can find this sort of deals.
Good luck
Chandara
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]Thanks guys for your replys.On further investigation one had already gone, the corperate fees on the other were high. I still haven’t decided yet.but it is a lot of fun looking!There is still so much to learn.[]Hi Mickie; Intrieged as to why you want to get into property when you have network marketing busienss.
You see i also have a networkmarketing busienss and i want to get into Lease Options so i can make enough to live on as i beleive the end of the dole is just around the corner.
If i can make enough from property to survive on then i can work on my network marketing business and build that up because it this busienss that i want to eventually run with. It has a lot less risks and for a $200 investment one has the potential to become financialy independant and it also has the advantage of being passive income too.
bye
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]Thanks guys for your replys.On further investigation one had already gone, the corperate fees on the other were high. I still haven’t decided yet.but it is a lot of fun looking!There is still so much to learn.[
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