Forum Replies Created
congrats kingB , was the property is SA?
Hi king you can goggle pretty much any suburb or city that you might be expecting to invest in, search council sites from time to time you'll get lucky and find future developments planned for the area- not to mention u can stumble across minutes of the meeting and media releases on future talk of development etc. What ive also done is check the local newpaper websites , and i found alot of info on future development not to mention the realestate info as well. If you want u can also read mags such as Australian Property Investor and other investor mags to help with reasearch tips not to mention rental yeilds and median prices.
RP Data has free samples of suburb profiles check them out there pretty helpful to. I have also checked with the latest census results – for demographics, employment and prefered housing etc. Hope that helps abit guys.hi chris i would definetly love to attend the expo please contact me via post or email [email protected]
Hi kenzel first off congrats for securing your first home loan , i'm also an individual keen on buying IPs , i know i can't really help with your questions but maybe you could help with mine. What is the basic calculations that i should make wen evaluating my own homeloan product to see if my tax , insurance and interest rates are not killing 1/3 of my monthly take home wage. I'm really not good with the numbers part yet . What should i know? Is there a spreadsheet etc. or a step by step guide showing what numbers i should know before i purchase a property or accept a home loan product?
thanks for the advice – its experienced forum contributors like you who really make this forum worth wild to read through – even though my questions are basic and maybe repeated thanks for dropping a line or two hopefully Terry helped answer anybody else's questions on the topic.
Thanks for the info i actually have that issue , il go back and read it .
Hey guys i have also being looking for oppurtunities to enter the property market- i have the drive and motivation all i believe i need is either an equity/cash injection which i dont have or maybe a partner or two to help pave the way and soften the burden. I have alot of time ( yes i am employed) and am always keen to learn more about property investing heres my email guys if you want to chat further. [email protected]
Paul
thanks for the info terry, il have a look at those homeloans
renting rooms sounds good but to stress the point again, it would need to be near a large work/or study facility eg. uni a public hospital etc. Then again i was thinking of Armidale NSW , using the Uni of New England students – but then again its hard dealing we four-five highly stressed out uni students- there are it's pros and cons for sure.
Oh yes i remember the roxby downs expanision, i mean within the iron triangle along whyalla and port augustua, port pirie has showed some significant growth. Median prices have been rising since last year. I also am not convienced but i see that it is showing some promising infrastructure growth, the flinders business park, the redevelopment of the waterfront area and not to mention the redoing of the centro plaza est. worth 10million +.I read so much about port pirie from "the recorder" the biweekly paper. It shows significant residential development not to mention its the regional centre for surrounding districts. Well any ways if you know more info of pirie's property market just drop me an email and share any property advice. Thanks for the reply.
Hi fingercrossed i believe Elizabeth and Davoren Park are areas to look at for capital growth due to the fact that they have pretty much nowhere to go but up. Here in sydney outer west some of the "bronx" suburbs 2-3 years ago 3 bdr were around $120-130k but as i looked recently aroung the same kind of houses i guess are going for around high 100k – low 200k so i guess low socio-economic areas cannot be cancelled from the CG list. Have you read the August issuse of Australian Property Investors in this issue it questioned and showed evidence why some lower market suburbs "ugly duckings" where either out running or going dollar for dollar against the CG of other Prime suburbs. But yeah when in areas like this i would not leave landlord insurance out.
Hey guys ive being reading through this thread …can any1 explain to me what CPI + 1.5% is ? Thank you for excusing my inexperience of the lingo im new to this. Thanks again.
hey thanks for all the help guys really great tips and info just gearing myself with enough knowledge before starting my own property portfolio. My hat goes off to you Jase and Flic for the reno diary and thanks realestate queen for your shared experiences , im actually looking in to SA regional where abouts are you from?
hi etty, i believe even if you have redrawn the equity it would still be a good idea to hold and wait to appreciate …well unless you need to cut loose because they're eatting to much into your pocket, good luck with your decision.
hey thanks guys for the help..keep them coming this making me tinker of new ideas for me to get finance.
TerryW
"You should probably try to buy a cheapy to live in for 6months, get the FHOG and then rent out after that. 100% loans are good, but you will need to come up with around 3% in LMI" i like that idea terry thanks for the heads up ive been looking into FHOG but the IP area i'm looking at is in regional SA and i live in sydney so i don't think thats possible at this present time but hey thanks i'll keep that one in the to do list.v8ghia
"Depends on your eventual savings etc. SOme investor loans at 100% are possible, but would be principal and interest or have some other conditions . 95% is no drama. " if it was a 95% LVR would i still be needing to pay for LMI ? Does neone noe any specific loans that are above 80LVR and where i don't have to pay for LMI either by the use of a small cash deposit, another property as security or equity built up by either my dads IP or PPoR.RAMS sounds like a good lending facility but due to the stock market and america's sub-prime mortgages crash it looks like they might be in for hiking up their rates whether fact or fiction . i still need to noe more:
Does any one know:
1 A loan where i can borrow 80% or more without paying LMI
2 if i'm using a property to secure the 20% deposit etc. does it have to have built up equity in it to use the property as security
( i think my dad has used up his equity in his IPs )thanks guys again the info and encouragement hope to hear from everyone else with a spin on getting the right finance.
