Forum Replies Created
You are heading down the right path, pay off the homeloan first and only pay the interest in the investment property.
It is the tax deductable one,
When the interest only period is up, put it back as interest only.
Did you find an accountant?
mr463
Lambchop
I have been investing in Albury and Wodonga, it is worth thinking of the place as a whole ie with a population of 100,000 people approx. The places dont increase in prices like capital cities however the costs are close to covering expenses.ie lower capital appreciation but higher rental return
You can pick up a brand new 4 bedroom house these days, including stamp duty costs and all for around $320 to $340k and renting at $380 to $400 a week. (This was the case in Wodonga, Albury would be similar but there are about $5K more in costs to cover off rainwater tanks etc to meet planning requirements) I said brand new as there is still depreciation also that basically makes the place close to cost netural.
I think the vacancy rates at present are less than 0.5% (wodonga) and have been for some time, but you just need to get a copy of the local saturdays paper and the vacancy rates are written in there,
Good luck
mr463.
Brain
I am also located in Albury Wodonga, with investment properties in this area. The only info avliable that I am aware of is on the Fisher Murphy valuers website. It was free last time I looked.Cheers 463
