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Adamstown, 5klms from Newcastle cbd
Hi looking for some advice also in regards to this I have 2 IP's and a PPOR both IP's are I/O and a LOC on the PPOR maybe moving overseas in near future so thinking of selling PPOR because its a nice family home with good gardens etc have own the home for 3 yrs and should be back from overseas in 3 yrs time.
So 6yrs in total which should show good growth thinking of selling PPOR in newcastle area and buying a cheaper IP in the Newcastle area but worried I miss out on the already and potential capital growth over the next 3yrs while overseas.Any help would be fine.
Thank you
Hi this is a real eye opener, as not having to be in the rental market for a while now I haven't given this much thought.
Has anyone had any dealings with managemyproperty in logan central and barry plant melton.Cheers
By any means would this suburb there talking about be Fletcher just outside Wallsend in Newcastle, because there's alot of new residental construction going on there plus new schools. Alot of owner occupier there so not a real demand for renting in the area because young families are moving into the area maybe thats why the developer is willing to pay the difference.
I agree with ryan look elsewhere and try to get discount of $3000 in better growing under valued suburbs of Newy around Mayfield, georgtown.Hope this helps
Hi peter I was in your shoe's not to long ago, im on a good income but felt i was wasting my money so I turned to property investing and will never look back, my best advice would be to educate yourself first before taking any action knowledge is power its so true, at least sound like you know what your talking about.
Steve's 0-130 properties in 3.5 years is a good start try to stay away from those so called free seminars because usally the speaker is a developer and is trying to sell his deals.
A couple of good steps find an accountant that is good with property get yourself a mortgage broker and know your risk profile.
Know whether your willing to stay local to your area or are willing to look else where that will make things alot clearer in your mind.Best of luck enjoy
Looking for a bit of advise I have a PPOR in newcastle, 2 IP's 2 bed unit in logan central qld, 3 bed house in kurunjang vic and waiting for finance finally for a 3 bed house in Orange nsw which should all be settled in the next 2 months.
I'm having problems with finance because Im a professional athlete and am on contract based wages all 3 IP have a good return will be CFP in the 1st year but looking for lenders that are willing to lend to people in my situation.
Lenders are a bit hesitant because the IP's were purchased last september and in the process for the orange property please let me know if anyone has any idea what I can do to help me purchase more properties more quickly.Thank you
Looking for a bit of advise I have a PPOR in newcastle, 2 IP's 2 bed unit in logan central qld, 3 bed house in kurunjang vic and waiting for finance finally for a 3 bed house in Orange nsw which should all be settled in the next 2 months.
I'm having problems with finance because Im a professional athlete and am on contract based wages all 3 IP have a good return will be CFP in the 1st year but looking for lenders that are willing to lend to people in my situation.
Lenders are a bit hesitant because the IP's were purchased last september and in the process for the orange property please let me know if anyone has any idea what I can do to help me purchase more properties more quickly.Thank you
I agree with the people that say it takes time if your on a lower income, purchase only what you can comfortably afford you don't have to love the property because your not living in it but make it a win-win.
Even 1 property per year for 10 years if thats all you can afford is great you'll have 10 properties in your portfolio and the 1st couple of properties will surely be positivily geared.
Patients and hard work and as steve says success come from doing things differently so think outside the square when it comes to lending, get a partner. vendor finance, super funds.Hope this helps
Any thought of out to Melton, Kurunjang area good price for new homes not to far from melb cbd 45 min drive
I think my understanding is that you can have as many PPOR as long as you do live in the place for some period of time in the year, it just comes down to when you sell which one has gained the most in value thats the one you would want to apply the no capital gains tax ruling to.
Hope that helps
I went through a similar experience late last year purchasing 2 properties using equity in my own home, just go to the bank your house is with explain what you want to do, they will evaluate your property see what its worth what you have paid off it and see how much equity you have generally the bank will lend $5 to every $1 you have in equity.
Being a chippy you should be able to increase value in a property pretty easily by doing a low cost tenant friendly reno on a proeprty adding real value and preceived as in paint job etc then go back to the bank and get it valued and see what equity you have gained.
I don't mind using a 10% deposit even though you do have to pay lender mortgage insurance its still less than another 10% deposit so you use less of your own cash.Hope this helps
Im with you on this one, iv got 2 properties in qld and vic but am looking for properties in the lower end -$200k in nsw and as long as the property is in a good growth area with the building and pest inspections not showing any real structual problems because they will be older properties, I believe that there are some good buys out there because you can get good yields on these lower end prices.
Try areas in larger rural regions wagga wagga, newcastle hunter, griffith.I got a score of -304 very scary im a professional sports person employment by contracts I have 2 investment properties returning 6.2% and 5.5% that are interest only loans and mortgage of over 300k on valua of 520k i am looking to accelerate my earnings and investment property purchasing what can I do
