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  • Profile photo of gronk007gronk007
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    @gronk007
    Join Date: 2005
    Post Count: 54
    February 4, 2006 - 8:19 am

    As someone who hasn’t really done too much re: PI, how do you actually prepay interest, or prepay outgoings vis a vis documentation, proof etc

    Sorry if this seems like a really obvious question..

    Profile photo of gronk007gronk007
    Member
    @gronk007
    Join Date: 2005
    Post Count: 54
    February 4, 2006 - 7:18 am

    Hi Derek,

    I have a 2 b/r unit as a PPOR which has approx 77% LVR currently, so I have a budget of around $300,000 to purchase on a unit in Sydney metro. I can either look for a really good 1 b/r unit around lower north shore, or a sturdy 2 b/r around the inner west.

    Most 1 b/r’s I can find are renting around the $230-$260…so I dont see that much more added value in getting a 2 b/r that MIGHT rent for $30-$40 extra bucks…

    Alot of the 1 b/r units I’ve fancied of late have been around the 55-70sqm range, so hopefully the banks won’t have too much of a problem with those sizes…

    Still worried about capital growth though in the next 5 years – if I take on a place around the high 200’s or $300,000 I reckon I need it to be worth $350,000+ in 4-5 years.

    Profile photo of gronk007gronk007
    Member
    @gronk007
    Join Date: 2005
    Post Count: 54
    August 30, 2005 - 8:48 pm

    Good question – i guess if i’m solely looking for cf+ properties, that would wipe out the good majority of units/apartments in Sydney then I’m guessing…..

    Profile photo of gronk007gronk007
    Member
    @gronk007
    Join Date: 2005
    Post Count: 54
    August 28, 2005 - 9:31 am

    Very true – I also earned doing Economics to diversify, and not too put to many eggs in one basket/suburb!!

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