Forum Replies Created
Hi Chas83,
I bought a property through Dave Thomas. I can send you his contact details if you want to.
Cheers
MCGJI agree with Marc.
I live in Sydney, in the northern beaches and I rent. I can't aford to buy anything here.
So, to buy my first IP I did a bit of research and got the help of a trusted buyers agent. It is good to be able to inspect the property you want to buy, but it is not essential.Essential is to be able to sleep at night knowing that you can hold your investment for as long as you want to have it. If you will end up paying too much and stretch your finances just to be able to buy close to home, I don't think it is worth it.
Try to get out of your comfort zone and buy something you can aford in an area that is or has prospects of growing in the mid to long term.
I just found that trusting others has helped me to achieve a much better result than I would have if I'd tried to do it all alone.
Good luck!
MCGJ
Encouraging words Jon!!!
That is what I thought but wanted some confirmation from other investors out there.
Cheers
Hi Scott No Mates,
I read this article last night and Adelaide is and will do really well with the resources boom. Sydney is still not in investors radar, but I wonder how long it will be for that to change.
As an example, I was scanning properties in Domain.com in suburbs around Parrammatta and found some flats for under $200k returning around 6.5%. This is better than what is currently available in Logan/Kingston etc…
Medium unit prices in Lakemba are around 180k. I'm not suggesting I'm buying in these areas, but these prices caught my attention. Add to that rental yields going up, I think it will be a matter of time for Sydney to become good value again.
The question is how long before that happens???
Thanks for your comments! I'll investigate further…
Wise words…[^]
