Hi again,
I currently am paying off an investment property in Adel which is being rented out.
I am now living in Brisbane and renting a property here. The house prices anywhere close to the city are very expensive, so am considering buying a 2nd investment property/unit in the city to rent out (whilst still renting the current house i am living in) – can anyone advise costs associated with buying an apartment in the city, fees etc?
What about uni student apartments, any advice?
Are these good investments?Any help would be appreciated. Thanks!
shel
Firstly welcome to Brissie and I hope the City has treated you well sinc you have been here.
Many of the uni student apartments are small in size and overpriced in nature and funding a relatively high LVR will be an issue.
With regards to purchase costs this will vary depending on the purchase price you end up paying but in essence in Qld we have all the normal costs and charges still i.e Transfer and Mortgage Stamp Duty (dont you love the Sunshine state) Mortgage Registration, Transfer & possible discharge, Solicitors costs and searches.
With a unit obviously Body Corporate fees (a couple of extra searches).
Many of the units just outside the City will offer better value for money and still achieve a good yield.
Let me know if you want the name and phone of a couple of good Real Estate agents i work with who can source a unit for you and also have a decent sized rent roll so can take care of the management.
Richard Taylor | Australia's leading private lender
Hi Shel,
wherever you buy you should look to get some independant advice on the market situation.
part of my own website is dedicated to independant market advice and is also free of charge.
if i can help further please feel free to contact me
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