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Rents are still really high around liverpool right now, making way for some good cf+ properties. Every open house you go to there are heaps of people, and people are offering higher rents than what the agents are asking for. Alos cf+ properties in Macquarie fields area. You can grab some 2bed t/houses for around the 200k mark with rental returns of around $300pw.
nats post is like from 4 years ago people!!!! Im sure she is a pro by now!!
I think you should start looking for another job ASAP, see how that goes. As JacM says above you still have enough savings to keep u going until u do find a job. Its good that u r getting ready for the worst but dont make any decisions while u r in a panic.
Hopefully it will all work out.
Thank you for your help and comments everyone.
I will let everyone know how i go and what i decide to do.
Lina
Hi People,
Just a note that unit prices in the liverpool area of western sydney for a 2bedroom unit are around $220000 mark start price. Rents start at about $260 if you r lucky. Alot of my family and friends have had trouble with rents keep going up in the area. With the hospitals redevelopment i think it can be a good area to invest in.
I think theres still cf+ properties out there, u just need to look carefully and hard enough for them.
Thanks for ur advice lachinov.
The reason i started renting here was to see how the area and neighbours are. I have been renting here for about 10months now and havent had any problems so far. The upside is that all the t/houses in the block are being sold not just some. Housing are also selling the other t/houses that they own in the next street. I understand the concern that usually junkies are associated with people living in homes provided by housing. Since i have lived here 10months and found it fine is that a good thing??? Its 6min walk to the primary school, 2mins to the t-way bus service. 2min drive to the centre of liverpool. My plan would be to try to down pay it or save up to buy another home and rent this one out in the future….
any thoughts??
Hey,
From my understanding LEGALLY you are meant to declare any money earned. It is something that people do however i dont believe it is legal. It can be a good thing if you are planning to sell soon and dont want to pay capital gains tax.
Having said that, if you do things legally, you will always have less trouble in life and the future.
Thanks Stewy89.
I did call them just after i put this post up and they said that i would need to put in some application which would cost around $210 and also i need to get some survey done, they couldnt tell me how much the survey would cost. They said that as long as it is structurely sound that it should be ok. So im still unsure what to do, although i really think the future prospects are really worth it.
Did you end up buying in the end???
Alex
Sorry for all the spelling mistakes,
i was kind of rushing.
Lina
Hi 4lex,
I am no expert, but as far as i have been reading and researching (for the last 3years) i have come to one conclusion- and that is the sooner you buy the better. It is true that at the moment house prices have become a little crazy especially in places such as Liverpool/ Green Valley in wetern Sydney. But you have alot of cash that you can use.
If i were in your position i would look for a property at the bottom of the market, a fibre house maybe that i could renovate and live in for the time being. You would get the first home owner grant and you wouldnt be paying sum1 elses mortgage. It could become and investment proeprty in the future for you and you could…
Renovate and sell it
Subdivide and build
or demolish and build a new housethere are many things possible and you are in a great financial position, so why wait?
Again its only things i would do… as i said i am no expert.
Lina
Thanks donW
Will have a read of it.
Lina
I have just been looking at prices in Morwell, they seem very reasonable and various magazines such as "Your Investment Property" have statistics that show it has an annual growth of about 10% with a rental return of 6%. I think this is a great starting point for those who have not begun their investment game yet.
I am not an experienced investor and am just trying to learn as much as i can. I do feel however, the more i am waiting the more time i am losing.
Any comments from experienced investors would be highly appreciated. If anyone can list a few suburbs that they think have stable growth with a lower entry point would be great.
thanks
Lina
Christies has had growth lately, however houses on the beach are 500k+ and those 2,3 and 4 streets back are in the 300k+. So in the long term wouldnt one expect these streets to grow in value???
Thanks R3,
I have had my eyes on the area for a while and i think that the 350+ mark is still a good buy. Could you tell me if its a nice area to live in??? I have read alot of forums which say that its a troublesome area!
Thanks in advance.
Lina
