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  • Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    Thank you so much for your responses.l shall discuss with our solicitor first. Thanks again

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    I dealt with Network1 agent and I really like their services. I bought my I.P below the asking price (upto $20k), the seller wanted to sell really soon that's why we managed to put-in the offer below the asking price. The I.P is between Frankston & Frankston Sth, only 5mins drive to the beach. The seller wants to rent back while looking for a new house $260/p.w.

    I am still looking for the PM, I rang Rebecca as per Dom's advise and I am comparing the fee with other agents at the moment. Have you heard of Wentworth? I contacted Crowders but got re-direct to Wentworth instead. And they charge 8% fee as flat fee.
     Odenska

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    Thanks everyone for sharing your thoughts. I do have 20% deposit but I will need to take from my Own Home's redraw money. That's why I am scractching my head to decide whther or not I should do 100% loan.
    My strategy is to buy and hold. As we are working full-time and have 1 child, so its harder to do Reno and sell.

    I do agree with Gary's concept as I donot wish to get myself having so much debt. But when it comes to reality, its harder than I thought. Can you please advise whether I should take money out from my own home's redraw.

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    yes, we put 'subject to finance' clause. We know how much we can borrow, however we are not quite sure whether we should borrow 100%.

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    Thanks Dom,
    I just bought my first IP in Frankston. THe rental yied is just 5.1% but it is good enough as its ahrd to find postitive cash flow these days. :)
    I will contact Rebecca. I also heard about Andrew Mine RE is quite good as well but I will contact Rebecca first since you recommended. :)

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    Can someone please recommend a reliable/good property managemnt agent in Frankston please? Thanks

    Profile photo of odenskaodenska
    Member
    @odenska
    Join Date: 2006
    Post Count: 11

    Thanks for the responses. We do know our max-borrowing (upto $450k). However, we try not to spend >$250k for the first I.P given that we don't have any experience at all. We have been looking around for a few months, and its really hard to find a +CF property.
    But, I won't give up…will keep on looking…Hopefully, some of you kindly enough to provide tips or hints so that I can narrow down the searching path.

    Thanks alot.

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