I have a 3 bed room house in New Lambton (Newcastle) which is currently rented for $295 pw. Does anyone have any insight into the predicted future growth in this area? I'm weighting up whether to sell and buy something I will want to live in later as prices seem to have increased significantly lately.
Thanks in advance,
Why would you sell? Why not keep it, and refinance later if you want to buy another place? You'll lose lots of money in fees and stamp duties if you sell
Have a client with a property in New Lambton which has performed extremely well over the last few years.
Admitedly it is 4 bedroom and he is getting $360 / week in rent but the Bank valuation we have just had back made exciting reading given what he paid for it.
Richard Taylor | Australia's leading private lender
Hi Duck City,
I agree with the others – don't sell
Keep it as it will continue to go up in value over time and it could be your springboard to great wealth. Robert Allen says to buy right and hold on tight. He talks about using the equity to buy a second property and a 3rd and a 4th. I attend weekly meetings in Sydney where they teach this stuff.
Knowing what to do is unbelievable
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