Forum Replies Created
Hi terry, research, research, research. Don;t be afraid to go interstate as well. I live in NSW and am in the process of buying 2 units in cairns positively geared. They are around. realestate.com.au is also a good site. Email agents to find out what rent return is expected to be. As them what sort of improvements you could do to increase the rent returns. Sometimes it is as simple as some new curtains or an air conditioner to get another $10 to $15 a week. Be prepared to maybe spend a little more than that tho. One of the properties we are buying we will be spending a couple of thousand on and the real estate said we should be able to get another $40-$60 a week. Ask lots of questions.
Hi, why not buy 2 cheaper properties straight up.
We are just in the process of buying 2 properties in the same block for 107K and 110k with rent return of 155 per week each. If you put 50k towards each including costs on something similar then they will pay for themselves and you could keep renting until you leave.Hi first timer,
Are you paying $800 a week or per month.
If you are paying $800 a week then have you thought about finding somewhere cheaper to rent for a while for say $300 a week, then you can save $500 a week towards a deposit (making sure you actually put that money aside and not spend it). Obviously if you are paying $800 a week then wherever you live must be nice, but if you really, really want to buy your own house then you might have to make a few sacrifices for a while such as living somewhere not quite so nice.
Good luckDo have an existing property ? We`have just done an equity loan to put down as deposits on 2 more properties. Our existing property valued at 209k, we owe 90k, now borrowing another 50k in equity. We are using someone this time as it is the first time we will have more than one property. His fees are tax deductible, so go for it and use someone to help. If you can find someone who will explain the do’s, don’ts, why’s and why nots cos there is so much to learn when you are starting out.
