Forum Replies Created
Thanks Tom,
I would run it by your accountant first, sounds ok to me. Not too diffrent from how my IP is structured.
Good luck,
Regards,
Dave
Hi Tom
Who advised you? your Accountant or m/broker ? Sounds like a complicated setup, did they say what were the benefits to you for setting it up like this? How would this make it easier to buy another property?
Regards,
Dave
Hi Alex,
We have our PPORin the Southern Beachside suburbs around Christies Beach, which for us was a really good place to start!! Our simple home improvements almost doubled our home value since 2006. (kitchen, bathroom, landscaping)
There is Great potential for subdivision and Renovations in and around Southern suburbs and don't be afraid to go as far as Seaford or further as the Gov just announced a rail extension to that area, making commuting to the city 30-40 minutes on train!
Osullivan beach is the Neighbouring suburb to Christies Beach and is almost 100k cheaper on the Median House price average, another great place to begin.
Good luck.
Regards,
Dave
Hi Alex,
Where in Adelaide are you looking to employ your renovate and sell idea? Good luck and best wishes
regards,
Dave
Great thread!
It sounds almost too simple, but you have to REALLY WANT a first home. It's not as crazy as it sounds, think of all the things that you have saved for (holidays, cars, bike etc) and been really disciplined to achieve, well buying your first home is just like that, only on a bigger scale! My wife and I saved our deposit, and really surprised ourselves on how easy it was to achievet the goal. Start with a good budget, sacrifice the things that you don't need (movies, dinners out and gym memberships not used) and look for other money making opportunities like a 2nd job or if your a tradie, jobs for cash!! But seriously, you will never live your dream unless you believe it's achievable and you really really want it.
Dave
Good topic Frankey,
im a long time reader (of all topics), but first time poster!!
Another town in the mix in SA is Coober Pedy, offering cashflow+ opportunities now and more for the future. Local mines are opening up, with 3 more in the next 5 years all within a 50km raduis of Coober. Be mindful that not all banks are interested in financing Dugouts (sometimes underground or houses tunneled into the rock face).
Settlement on our first IP is in less than a month and we couldn't be happier. We found a unit block with 3 units returning a 10% yield. All for under 200k on one freehold title! There are still plenty of opportunities in this little town, with lots of Government/corporate tenanted houses/dugouts on long term leases!!
Due to the mines having no onsite accomodation, it's all live in local. So Vacancy rates have already plummeted.
In short both Frankey and Basbog make great suggestions, SA is on the move and about to go Boom.
Im glad I finally took the plung, and got there via my own research!
Regards,
Dave
