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Hey Mixed up,
I am looking at a new 4Br house in the Ipswich area for $310,000 with a tenant lined up renting for $300 p/wk. I am Sydney based and already own similar properties in Crestmead and Waterford West. These areas demand $340 p/wk rent and are seeing fantastic Cap growth. All my properties are managed by the same real estate agent and all my properties are sourced through the same company here in Sydney. I deal with one consultant and he takes care of everything. Happy to recommend him to you if you need some good advise. It costs nothing to talk.
Turbo
Hey there Eddie,
2 questions (1) how much deposit do you have to start with right now & (2) why are you picking Sydney…..do you not consider it an expensive market to invest in. My point is, I feel you will tie up alot of funds to secure your first property and see little capital gains for some time therefore possibly not allowing you to invest again as soon as you'd like. The wrong start could greatly hinder your ambition to retire at 30. What do you think?
You're a top man Michael. Cheers.
See ya then
Hi,
Sounds a bit like me a few years ago. We had one investment which was going great and we had $180,000 debt on our own home but were struggling to get into our next investment property. The banks were no help and said we needed to reduce our home loan or earn more money. Then a work colleague of mine suggested that I speak to his guy that he was using.
So one evening this guy turned up and sat down and just listened to me and listened to what my wife and I wanted. Then in plain English simple terms (ie. no financial jargon) told me exactly what I needed to do and how to do it. 12 months later we have paid our personal debt down to $45,000, we have 2 investment properties and are currently in the process of securing another one. That evening was the best couple of hours I spent with anyone in the property/finance business. You have to talk to the right people and get the right advice.Hey Hybrid,
what I'm wondering is how long you have had your investment properties for? I ask this because you still have personal debt ie. non tax deductible debt? To have accummulated 4 investment properties and still carry personal debt surprises me. What income bracket are you in?
I think whatever move you are about to make needs to be well thought out. Structure is everything.
