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Thanks PHP and all other comments
Learnt a lot valuable info from the post from this forum.
I have looking at a few suburbs, ie Wollongong and even South.
However still unclear about what strategy I should take:I have 120k deposit + 120k financed from my current PPOR.
My mortgage broker said I could potentially loan approx 700k if I am not touching my own deposit.
I m not looking at huge renovation in investment properties, or at least in the recent 2-3years due to my current job.
My goal is retire with some good cash flow, but also would like to buy as many properties in the next 10 years.
What my strategies should be?
For next IP, Shall I buy a cash flow+ IP in a regional town or CG property in a bigger city, ie Gong.
Because I would like to keep buying…
I know the ideal is to find a property with both benefits, but guess its a rear gem.Would any one please advise my strategy? Thanks heaps.
Thanks PHP,
I start looking at some regional property now. Looking back at the sale price, there has not had much growth in the property price but the rental return looks ok.
Ie in Nowra, a house asks 245k but with rental as 290pw.
How do I calulate or what other factors do I need to know in order to know if this is a good investment for good cash flow?Thanks Richard
I m going to call the agent tomorrow and find out more.
Very excited to get my eyes on block of units.
Do you come across some good articles on block of units IP?
Thanks Richard,
I have my eyes on a three 2-bedders in regional NSW which is fully furnished. Therefore I think it might be a good ready-to-rent option. It looks well painted and averagely renovated. It was sold in mid 2011 for 380k but now asking for 650k. Evaluation from my mortgage broker said it worth 600-710k. Do you think it has gained enough CG so that there will be little growth in the following years?
Since block of units is a good option, what numbers do I need to know to calculate the cash flow?
I also have my background info on the below post, Richard, would really appreciate to hear some suggestion from you.
https://www.propertyinvesting.com/topic/4998282-newbie-to-ip/Thank you a million.
Thanks Knightm for your comment.
I m still in the middle of reading all the posts in this section and everyone is saying there is a investment goal and strategies. I m still new to investment and haven’t really thought about this. My initial plan is to retire early and have extra $$ from IPs. My friend asked me if CG or cash flow is more important, I said CF as that’s what my plan is, but she said no, should be CG. I m confused now.
Who is the profession to talk about goals and strategies, how different can they (strategy vs strategy) be?Good afternoon Peter,
Your IP’s sound like they are quite expensive for the return on rent alone, have you looked into IP’s that cost e.g. 300k and return $350pw rent over your 820K that returns 650pw.
you could spread out your portfolio much wider as your proposing
Value of properties = 850k + 820k +750k of rough value = $2.45m
Loans 293k + 656k + 600k = 1.55m = 2.45m-1.55m900k (yours) to your 1.55m of debt.
I think personally your better off looking at 2 properties that are 300-350k (most likely lower stamp duty dependent on state). or at least looking at more options than simply another basic IP purchase. possibly even non residential.
Thanks Jackson for your reply.
I didn’t know much about investment when I purchased the ip, it’s purely because I like the terrace house, which I know that being emotional with the ip is definitely no no.
Therefore I m thinking of starting the 2nd right. Hopefully i m not too much off the track in terms of reaching my long term investment goal.
You mentioned “900k (yours) to your 1.55m of debt”, what do you mean by this? I m not sure if I get the idea.
Yes, I have the idea of having one ip worth 700k+, but I guess I need to consider the two cheaper ip options as well.
Thanks again.
