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  • Profile photo of dammitdammit
    Member
    @dammit
    Join Date: 2005
    Post Count: 43

    Surely someone must have an idea of the process of buying a house in NSW???

    Thanks !!

    Profile photo of dammitdammit
    Member
    @dammit
    Join Date: 2005
    Post Count: 43

    Thank you for replying =)

    I’m pretty sure he could get finance, he’s actually only 50 years old but I think he hopes to retire by 55 – 60 yrs old. So not sure what the banks would think of that.

    Investing style I think he’d be looking for something thats going to return a good amount of money with minimal fuss/attention from him – so he would have a property manager and would probably buy&hold provided the yields were good enough. He would be looking more for income than for capital gains but on the same token the properties would need to be in growth areas so they do gain a little.

    So i guess we just need to look for some properties that have good rents & are of a decent price and go from there, crunch some numbers and figure out what to do! The main thing though is that we would be hoping for a return greater than 5.7% which is the current interest rate for term deposit at his bank.

    Thanks for raising those points of consideration =) Any other advice greatly appreciated!!

    Profile photo of dammitdammit
    Member
    @dammit
    Join Date: 2005
    Post Count: 43

    What about the Listed Property Trusts? Are they worthwhile or are they focussed on long-term gains? (At the moment I am probably after more short-term gains as I dont want these funds locked away for a long period)?

    I hope to have purchased my first IP within the next 2 years so I dont know if a 5year M.F. strategy would be ideal??

    Thanks for your input. =)

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