All Topics / Help Needed! / NRAS – SA

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of amcewinamcewin
    Participant
    @amcewin
    Join Date: 2011
    Post Count: 8
    May 25, 2011 - 12:43 pm

    Hello,

    This is my first post so feel free to point me in the right direction if my question has already been asked.

    I am new to Property Investing. I purchased our first IP a couple of months ago (2br Townhouse, inner Adelaide) and I am now looking for my second but seem to be stuck on narrowing down the location.

    I am thinking NRAS may be an option, either in SA or QLD. Can anyone advise best sites / agents to search for NRAS in these states. I can't seem to find much in SA outside of Andrews Farm via Ironfish which seems way too expensive given the area.

    Any tips would be very welcome!

    Cheers
    Amanda

    Profile photo of itsandrewitsandrew
    Participant
    @itsandrew
    Join Date: 2007
    Post Count: 294
    May 26, 2011 - 4:57 am

    Hi Amanda,

    A user known as Euro73 has posted quite a lot about NRAS on these forums.  Do an advanced search on his username to see his posts.

    Hope this helps,

    Andrew

    itsandrew

    Go as far as you can see and you will see further.

    Profile photo of PropertyAssetPlanningPropertyAssetPlanning
    Member
    @propertyassetplanning
    Join Date: 2011
    Post Count: 1
    June 14, 2011 - 10:48 pm

    Hi Amanda,

    My Name is brian, I'm the director of Property Asset Planning, I have been assisting my clients, Natiaonlly and Internationally for over 10 yerars invest in Property, throughout Australia. If you would like more information on NRAS in Adeliade or in QLD, please feel free to email me on [email protected] I'm more that happy to assist you. 

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 14, 2011 - 11:00 pm

    Hi Amanda

    it is good to see that Brian has arrived in time to answer his first on NRAS and hopefully he will stick around to answer another 1000 more.

    I have financed 101 NRAS properties and suggest you be very careful in the financing as in most cases we have found the valuations have come in less than the purchase price due to the marketing commissions which are paid to sell them.

    This is not to say do not buy NRAS far from it but just your Mortgage Broker  / Bank to commission a private valuation and understand the reasons why there maybe a price descrepancy.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of IPFIndersIPFInders
    Member
    @ipfinders
    Join Date: 2012
    Post Count: 1
    February 17, 2012 - 5:55 am

    Hi Amanda (and anyone else reading this into the future)

    I completely agree with Richard about being very careful when it comes to any property investment scheme even if backed by the Govt.

    Investing in property is all about investing first and the hype of various schemes is secondary.

    Dont get me wrong – I think the NRAS scheme is a very good way to reduce the holding cost of an investment property but it needs to be a good investment first. That means – location and price are the first things to look at… and NRAS is considered later only as a funding assistance.

    Unfortunately whenever there are good opportunities there are opportunists and as a result of the NRAS hype there are some properties being sold at prices that make them a bad investment. There are also properties being sold into areas that are already oversupplied thanks to the FHOG of a couple of years ago.

    But there are also some very good NRAS supported properties… it just takes a bit of work to find them.

    All the best Amanda (or anyone reading this) <moderator: delete advertising>.

    Yours

    Graeme
    http://www.iLoveProperty.TV
    1300 13 10 99

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.