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Thanks everyone…
I’ve decided to leave it… turns out it’s been on the market for about 8 mnths which seems a LONG time in the present climate. Vendor has dropped the price by $20,000 – making it $130,000 (returning $290pw). That gives you an idea of how ugly it is!!!
Thanks [
]Thanks Marty,
With my first two (it’s actually 1 property divided into 2 separate areas – hence the two tenants), I was 18, had saved up $20,000 and mum’s friend had a place she wanted to sell.
So I bought it privately off her without even looking through it!! I paid $70000 and it’s returning $220pw.
I’m 23 now and want to continue where I started with investing, but am really lost as to where to begin. In my town there are investors everywhere all after exactly the same type of house – I turn up to Open Inspections to find 100+ people there! Then the place goes for far more than it’s probably worth due to competition between these buyers… which is why I’m looking elsewhere.
Anyway, I’ll keep looking [
]And hwd007 – thank you for your advice too !
Hi everyone
Well this is as good a time as any to write my first post [
]I am 22 and struck it very lucky (by chance really) with my one and only IP. I bought it 4 years ago for $70,000… it’s returning $230pw and is now worth $260,000 or so.
Anyway so I am looking to use the equity in it to buy my next property, and stumbled across this site whilst researching on the Net. It has been invaluable and very interesting to read the various opinions, stories and advice from everyone. THANK YOU!!
I live in country Victoria with my lovely boyfriend, and my real name is Anna.
Good luck to you all & happy investing
]
