Hi…just wanted to ask how to make it work when it comes to buying a property? Most of the homes in Gladstone are well & above $250K with rental renturns of between $180-250 per week. I found a 4 bedroom property listed for $188K yesterday. It looks neat & tidy & is in a fairly good location, but with the 11 second solution the cost seems too high…is there a way of making it work. I have $150K sitting in the bank for investing purposes & we own our own home worth $250K & also invested in a commercial building 2 years ago that has now been valued at $270K. We borrowed $350K that year against our home & have now paid off a considerable amount. We now owe $290K. The rates are $1200, and rental costs here are 8% plus the first weeks rent. Can you help me find a solution? We would love to move forward in our investments…
Look forward to your replies…
Thanks
Dianne[worried]Hi Dianne
I hear this every day from investors all around regional Qld but i guess it is the case when prices have accelerated and rents havent yet caught up.
I have financed many properties in Gladstone and the market appears to be holding well and values certainly not falling.
To me if the property is in your opinion is a sound investment with good growth opportunities and a stready rental are why worry that at this moment in time it fails the 11 sec rule.
Esnure that you structure the purchase correctly with your financing and maybe review your existing finances to ensure that you are getting the best deal for you. Saving a 0.5% here and there can go along way to putting funds back into your pocket rather than your banks.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
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