sorry i dont know about the best possible use for your land but the easiest way to find what zoning is what is by going onto your local councils website.
i’m just 18 myself but am very keen to try my hand at PI as soon as i have learnt enough to feel confident.
i am studying Real Estate at TAFE at the moment. where are you guys from? i’m from sydney myself so i know that i am going to look a fair way away, but i was thinking central coast or maybe even somewhere near Bathurst?
i’m studying real estae at TAFE at the moment, and i am not sure if all of what xyzzy i saying is true. there are ways out of it i just cant remember how (thats what holidays do for you). i will go through my notes and see what i can find.
i don’t know if anyone can back me up, i may be completely wrong.
i have a similar story to you Polar Bear. a friend found a two bedroom unit privately advertised in the local newspaper for $210. it is in Sydney on the Northern Beaches and the average price for a two bedder is around $300-350. he couldnt believe it so he rang and the owner said there had already been an offer of $250.
so he asked if he could go and have a look as he might offer a higher price. it was a great unit so he put forward an offer of $275. in the end he got it and i still think that $275 was a great price for a 1 year lease.
although this place is called a forum, it is pretty much like a chatroom as there are so many members (around 20,000 i think) that your question is usually answered within an hour of writing it.
thats what i love about this site everyone is just out to help everyone else. its great!!
Steve has left us an important extra chapter on this website about what happens if/when interest rates go up.
its a good read and i suggest you have a look at it hope this helps.
as diclem said, it all comes back to the numbers. but what also comes into account is are you going to be living in it or is it going to be rented out?
if it is for yourself then it may not worry you as much if it costs you a bit more, but if it is for passive income you will have to work out if it is going to be +ve or -ve geared.
this site is just so inspirational and helpful. i was just wondering Neo and Castle Dreamer, if you would mind telling me where you found your first properties to invest in?
i’m not expecting everything to be handed to me on a plate but any little helpful ideas would be fantastic!
i know i am going to have to get out of my area (i live in sydney on the Northern Beaches) but i have been having a little look at proerties on the Central Coast around Terrigal etc and was wondering where you guys started.
i’m a newbie here myself as well so i dont know how much help i will be, but maybe try and work out what rent you could get for the place and see if it is more than the loan repayments? and if it is more maybe try and move in with some mates or something to try and save yourself more money? i don’t know just an idea, but probably a stupid one as i dont know alot yet but am learning more every day!
thanks very much steve, not only do you supply us with this free site where we can all communicate, but from time to time drop us a heap of useful info.
this site and your book has inspired me (and i’m sure alot of other people to) to work hard and learn as much as i can to make my future alot more comfortable.
thanks again.[]