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Thanks Jaime M, I am hoping for a quick and simple resolution!!
What happens if she leaves peacefully and bond covers rent but there are issues with the property?? ie cleaning and some repairs?? What happens then? Is that claimed for on my insurance??outstanding, thank you!!!
Hi Duckster'
Thank you for your input, at least i am on the right page!!
Cheers
I also second that comment halfback, as I also live in toowoomba. Areas such as harristown, newtown wilsonton (not wilsonton heights) are at the bottom end of the price spectrum and these properties are going like hotcakes atm (i just signed a contract on an IP in bris as the market is too hot here). Dont get me wrong there are some nice streets in that area but as far as growth goes it will be lagging behind the rest of the city along with harlaxton and wilsonton heights. Hope this helps
Thats exactly right JacM, some photos go back years! I'll just have to bite the bullet and go for a road trip!!
Thanks again forum people! I love having answers to all my questions!!
Thanks Jamie,
we'll go slow and steady to win this race, we are in our late 20's and have no desire to go all out and get in over our heads. we both love our jobs but just want something profitable to do with our extra $$
Well that’s some welcome news! I’ve done 18 months of research, subscribe to 2 investment mags and go through this forum from back to front learning all the ins n outs. I just wanted to make sure I wasn’t setting my bar too high. Capital growth and rental yields are going to be the #1 thing on my list.
Thank you for your positive feedbackI was hoping so DK!! I also did a cosmestic reno on my PPOR which has aided in my first IP, was just wanting to recreate what had already worked for me. But I think i will either look at empty properties or tenanted ones that already have been updated; if the numbers stack up. Cheers for that guys
looking at purchasing first IP in Toowoomba, where i also live, a lot of the houses in my price bracket (250k) are tenanted, I was wanting to do just basic reno, paint, floors, kitchen and bathroom to speed up my equity process so that i can use it to fund another purchase, So my question is should it be put in the too hard basket and just focus on buying houses that arent tenanted if that is the route i wish to take? got a list of about 20 properties to look at and its the majority that are tenanted.
I have been a resident of toowoomba for 10 years and am in the process of purchasing my first IP here. I also have been leaning towards newtown, harristown and i live in a fantastic part of wilsonton that i would also buy in. While attempts have been made to upgrade areas of wilsonton heights (new housing estate and small shops) the area is still one of the dodgiest in town.
thanks everyone for their input, i agree that it is a good place for rental yields to balance out a portfolio and maybe something to look into in the future, but as i am only just starting out on my portfolio i might stick to somewhere that has some capital gains on the horizon.
CHEERS
Thanks for the feedback, its definately food for thought, holding costs and financing are also hurdles as well as council permits.
