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Thank you all for your great comments (even the heated up ones) lol
I suppose I could buy as many reports as I could but it really comes down to been comfortable with where I buy and doing my own home work on locations.
The only suburbs really that came up in this post is the Mt Druitt area, so is that all that's left in Sydney for under 300?
I have been lucky enough to live in Sydney for the past 11 years and in my first 6 months of been here I know of the stigma of Mt Druitt, I don't feel that stigma going away for a long time. (And I don't mean that about the people living there).
So am I better off looking for a unit in Sydney even though they drain your funds in strata fees.
Hope everybody has had a great new year and xmas
Hi guys
The main reason I will not go near places like that is because of the stigma yes, and I have seen Ireland and England when things go bad that they drop really really fast.
I take my hat off the you guys investing there and doing well but I just would not feel comfortable with it.
Thanks guys but Im just not willing to spend my money in areas like Campbelltown and Mt Duritt areas.
Sorry guys for short answer,
I have have some really good feedback on this thread a while ago.
https://www.propertyinvesting.com/forums/property-investing/help-needed/4333820
Yes I would really like to buy in Sydney,but to buy a house for under 300 and get good rent,not easy.
I have many reasons on Nowra, one been I can buy a house and not a unit. (long term I think it will go up as Im talking 7-10 years)
I have owned units and they drain you dry,to many costs with them.
Catalyst where can you buy a house in Sydney for under 300?
Thanks JacM I have been getting a report myself done.
I'm in between two suburbs so I think IL be able to work it out for myself.
I just wondered was there a report that could be bought that had all sales in a suburb , street by street.
Terryw and Qlds007 First,thank you for you time in trying to help me out.
The properties I'm looking at range from 240 – 270 so it looks like I may have to pay that LMI but from what Qld007 is saying if I get the loan from the new lender I will pay less LMI.
I have talked to another bank about getting a loan from them but they have said I would need to bring a cash deposit to them,hence why I was thinking about getting line of credit from bank I'm with now and getting loan off another bank,but if I need to do that I may be looking at just getting the loan from current bank?
If you guys where to buy a property for 250 with me details above,how would you do it taking in to account I have a loan of 520 with current lender.I suppose its better to pay the LMI and time will get that back with all going well.
Thanks guys
Very interesting read devo76 on the Dual occupancy.
Is there a calculator that I could input myself and wife's income,costs of ips,rent ect. to give me an idea of what kind of tax returns I would get.
To see if on the first year of buying an ip of around 280 would I get a decent tax return that I could then put away towards the running of the ip.
I have seen some software on the forum here but I don't wish to spend $400 or so on it just yet.
Thanks all
devo76 Im far from put off Nowra,In fact Im going to there within the next two weeks to start looking around the parts you have all talked about.
I would never just walk away from one area just from one persons feelings,thats why I value everybody comments and the forum here.
JacM 100% right on the " INFRASTRUCTURE" , thank you
thecrest very interesting to read your post and does get the mind thinking about looking at the whole picture.
If you where a newbie like me what areas would you be looking in?
devo76
I really thank you for your information and it is really nice to get some real help from people.You are so right in looking for the dual rent in ip's but Im sure theres not lots around but one must just keeping looking out for an opening like this.
The great thing about this forum is that you get real info,even thought its great to read lots of books there is nothing better than the help from you guys.v8ghia
One word you have said "shooting"
That is a big concern for me,is it really that bad?
My first ip guys all girls so I surpose I have that "what if" and "will it rent" and all the normal things that go with it.
With searching realestate.com.au and seen so many areas to look in at a reasonable price as I do not want to jump in at the big end for my first investment,I came across Taree and wondered why homes where in 130+ price range.
Is this because they are real country areas?
For example
Buy 3 bedroom house for 150+
Lowest 3 bedroom for sale is 200 a week
My apologies on not been up to speed on all the areas in Australia but I was not lucky enough to have grown up here.
Very greatfull for any more tips
Hi Ryan
I have in fact been reading some of the threads here that you have posted on.
I'm looking for the best strategy to get my ppor paid off and to build up a few ip's in the mean time.
My main concern is cash flow so I would be looking for good rents so not to put myself in to much strain.,I'm well aware that property investing is not an over night thing.
I was looking at Norwa for houses,if I buy in Sydney I can not really look for houses and units I would have to pay strata all the time.
Any advice on where and what strategy I should do would be grateful.
Thank you Ryan
Devo76:
Thank you for geting back to me.I would be very greatfull for some advice from you and if anybody else could share some advice.
Thank you all
