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Thanks westan and Sooshie,
Yes we are excited and nervous simultaneously! We bought in a small town on the River, SA. We did our homework on the area, talked to locals, etc and the area is definitely growing, has good employment (that’s not seasonal) and growth potential. It’s a small timer-frame, and there are lots similar that done-up sell for 90K+. We paid 75K and will do the garden and paint-job on our days off. It’s been a rental and looks tired. We phoned 3 agents all keen to manage it, but OH what a difference in costs to us – so that homework paid for itself! It will rent for $130/week and we are really thankful we fixed the interest 2 days before the increase! We will “break even” after doing all the templates and are happy with that as we learnt the demand is expected to rise in the area and we plan to hold on to it.[
]DianeI’d be grateful for a copy too.
Thanks, Diane[]Just to throw in something we’ve learnt slong the way – some lenders will only lend 65% in rural locations so check this out before making any offers.
You’ll find something. We looked and looked for months which is frustrating at times when you are new and eager to get going. The challenge is worth it when you find your first property though.
[] DianeHi Rocket from another newbie! Try going to Web Links on the left of the screen, and then scroll down to Sooshies Links, I enjoyed following threads there. Have fun[
][“When the going gets tough… the tough get going !!”[
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]Diane
