@ethantimor Sorry for the late reply. You may be right. My current strategy was to purchase CF+ IPs but that does limit me in buying more IPs to build my portfolio.

The IP i have currently is in Narrandera (Regional NSW). It is a Duplex (2 unit) house on a 800+ size land. The thing with this property is that it has a big Shed at the back which…[Read more]

@the-dark-knight, looking at Moree and Wagga.

@Ethantimor My broker is crutching some numbers for me. :)

@benny thanks for the information.

Thanks all for your advice.

I just want to put my strategy out there to building my portfolio. I think i may need to change it. I am currently purchasing positively geared IPs in regional areas (main…[Read more]

@benny Thanks for the response. That advice will help me make a better decision. Another question, are banks still wanting 20% deposit for IP’s? I was in the same situation when i bought my first IP whether to use 10% deposit to buy two properties but the banks had restrictions on only lending if there was 20% deposit? Talking about IPs in…[Read more]

Thanks guys for the advice. @Jamie-m, i will contact you regarding this if that’s ok.

Thanks,
JP

Thanks DK and Hank for the advise. I will be purchasing the property under Company Name As Trustee for Trust. It will not be under my name.

Will see what happens but i will let my broker know that i’d don’t prefer that as an option.

Thanks,
JT

Hi DK,

Not quiet there but in the Riverina Region. I would want cash flow in my pocket to put back in the loan and invest. If this is the case SMSF is not the right option?

Thanks,
JT

Hi All,

So i asked my broker if the bank refuses to provide the loan, what are the options? This is the answer he provided below:

“Go to another lender that does SMFS loans that accept the security and the LVR”

Is this the option you would take as well?

I don’t really know how SMFS loans work but how my structure is set up is…[Read more]

Thanks Hank and Richard. Richard i’ve sent you an email of the post codes.

thanks,
JT

Thanks Corey for the response. I might see how he goes and contact you if i don’t get the results.

Thanks,
JT

Thanks DK and Jacqui. I decided to walk away from this deal. The risk for me is too high. Thanks everyone for you’re advice. Didn’t go through but good experience. Now i will be looking at option 2 and keep looking at what’s in the market.

Thanks,
JT

Hi All,

Could i get another advice, the sewage mains run underneath the property 1. I’ve spoken with my solicitor and said this may be a problem if you want to develop and it will be hard to sell in the future. Now, i don’t want to develop but i do want to sell maybe later on. So question is, has any have any experience with this and if you have…[Read more]

Wow. I didn’t expect so many responses! That’s awesome. Thanks everyone. The properties are in regional NSW close to a major city. Have low vacancy rates etc. and have down research on the area and i think it is a place good for investing as a newbie. Both Freestanding houses. I am buying and holding for now and see how we go. Purchase price is…[Read more]

You’re right. It is pretty hard to save for 20% deposit so i may need to adjust my goal for 2 in year 1. As for the investment properties, the locations of the 2 properties are all regional NSW so annual growth is not as high. I may consider looking at borrowing 90% instead of 80% to reach my goal but well have to see with this first purchase. I’m…[Read more]

Thanks for the response DK. I was leaning towards the first option as well. I do want to build a large portfolio but since i’m still a newbie at property investing and i wanted to play it safe which is to keep the deposit at 20% of every property i buy. I was speaking to my broker and he did suggest to borrow 90% and purchase another IP but doing…[Read more]