Hi, i am new to this, and am looking into buying an IP… my PPOR is valued at around $550 but i still owe $450 on it… after looking into property investing a little bit i am starting to think it wouldn't cost that much more, if anything, per wk to get an IP, am looking at building a 4 bed house priced at 250k, the rental returns are apparently around $300-350 per wk and quarterly rates approx $250, which seem to be ok to me?
The builder guarantees 12 mths rent, 15 yr building warranty etc
I have been told when building a new house for investment purposes, there are quite a few things you can claim at tax time, including the interest on the loan, stamp duty, mortgage ins (if applicable) etc
Approx weekly payments on an average investment interest only loan seems to be around $320, which the rent would pretty much cover… but are there any hidden regular fees etc that i should be looking for, that i would have to add to my weekly expenses?… or anything that i should be looking for full stop??
My goal is to have my PPOR and 2 IP by the end of 2011… not sure if thats achievable or not?
Any feedback would be greatly appreciated…
Thanks. Kristi
You must be logged in to reply to this topic. If you don't have an account, you can register here.
