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Now thats some great information, that would have taken me months of research.
I had no idea about the capitol gains 6 year avoidance. I’m totaly amazed of the wealth of information i can find on here.
I’m also so greatfull that you guys can share with us less knowledgable and less experienced property enthusiests.About 6 months ago i went to a loan broker to just out of curiosity find out how much i could borrow, and was a little dissapointed but just of late i’v been getting more work and some pay rises so now i can borrow more, but am deffinately not going to purchase a house over $320k
I had no idea banks would factor in me having renters living there too so thats a bit of a relief. And up to %70!!I’v heard by a couple of people say that there’s going to be an interest hike also raise in the first home buyers grant to 14k or as high as 20k!!! , thats a very good incentive for me to hold off untill then.
Has anyone heard about this?
Hi Jen1 , I’m new on this site to and have just started reading steve’s book. I’v just moved to Mackay from the goldcoast.
I’v found the prices here are so expensive and rent equally expensive.Mackay is a coastal town surrounded by coal mines, therefore there’s plenty of wealthy people here, so i’m guessing thats why the markes is so high. Due to the high demand and lack of rental properties people wil just about pay any price to rent a decent place.
Average 3 bed, 1 or 2 bath houses that need renovating are between $290k and $350k and you can pretty much name your price for rent (Within reason) Because people are so desperate.
I’m only new to property investing and am going to buy my first place in a couple of months. I’m single and only earn $650 a week.
The repayments a month seem so daunting to me and is quite frightening. Can anyone give me any insightfull information about the area of Mackay as i dont have the knowledge or experience about sound investment properties.[blink]
