help needed in investment property.

How are you calculating equity?

Also why purchase a unit for $230k with a rental of $270 p/w? IS there strong CG potential?

Regards

Shahin

Ok what's the current loan balance against the property?

Depends on what sort of stats you are looking for but there are stats via RP Data, APM, Residex, etc.

I would focus more on a strategy that an investment type (i.e. unit, house, location). You can purchase land with the same yields but you will also get potential to develop the land. On the other hand is the strategy to just purchase a property and hope for decent CG growth? No problem with either stategy but good to get an idea of the strategy.

Regards

Shahin

Ok so the equity you have in your current property at 80% is $236k. The question then becomes how much do you use for your next IP purchase. Be careful about using all of it. If you have an aggressive IP strategy it may make more sense to borrow less.

I would look at something with land content – opens the door for renovation, extension, development, subdivision, selling the property with a DA, etc.

The next question is are you comfortable with buying in other areas other than Tweed?

Regards

Shahin

Hi Dean

Welcome aboard.

Before jumping into any conversations with the bank – I'd spend some time getting clued up on exactly what it is you're aiming to achieve. 

Forums like this are a great free resource – there's also heaps of property investing books that provide a good insight into the various strategies and fundamentals of property investing.

You've got a fair bit of equity up your sleeve  – careful planning is required.

Cheers

Jamie

Excellent – it's the best way to approach it. 

We're a friendly bunch to stick around and ask lots of questions. It won't take you long before you start answering them.

Cheers

Jamie