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Thank you so much for your responses.l shall discuss with our solicitor first. Thanks again
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.
OdenskaThanks 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.
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%.
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.Can someone please recommend a reliable/good property managemnt agent in Frankston please? Thanks
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.