Hi Scott

I was scoping out the Logan area a year ago and noticed the same. The BC costs can be quite high – especially when theres upkeep for pools, BBQ area, etc.

With the gated complexes there generally seems to be a “lot” of townhouses within the complex (often 100+) which will likely effect CG.

Cheers

Jamie

Michael 888 wrote:
You'll recognise me by my avatar    

Keanu?

Hi Kong

5% rates are out of the question at present. Around 7% is what’s currently on offer.

Cheers

Jamie

Calwell, ACT

Hi Robbie

Your best bet is to find a broker that’s an investor themselves and understands how to structure finances accordingly.

Save yourself the effort of trying to familiarise yourself with which banks offer what. Instead, utilise the services of a professional who deals in this space – you can then focus your energy on finding…[Read more]

MRW wrote:
Hi Jamie,the new house we moved into has Nobo heating. I can't tell you how cost efficient or inefficient they are, but I'm pretty impressed with how quickly they heat up a room. They seem a well made bit of kit too. A bit of a rarity now a days. We've only had them on 1 or 2 nights so far although I'm sure that's about to change.…[Read more]

In Canberra they will. We’ve had it tenanted for the last year – when we advertised it we mentioned that it had no heating. We still had 15 groups come through.

madeinitaly wrote:
We are not experienced at Renos but definitely able to give a freshen up to an old dwelling (painting, floorboarding,a touch of rendering…that’s pretty much what we can do..).

No need for experience. If you decide to carry out cosmetic renos on your own it’s generally just time that you need to give up (and of course a bit…[Read more]

Hi Luci

What’s the price difference between the two? Are you paying a much higher premium for the newish property?

With older stock you’re generally able to purchase at a lower price and add value to (something that’s usually not achievable and/or necessary with something new).

The depreciation will be better on the new property. However, you…[Read more]

Personally I would take out a 90% or 95% loan for your first property and pay some mortgage insurance (which in most cases can be added to the loan). Saving a 20% deposit on a 50k income will take a long, long time. Also, the costs of mortgage insurance are deductible over a 5 year period.

Cheers

Jamie

Hi Danviv

You could possibly save some dollars by refacing the kitchen (instead of replacing). That’s only if the carcass (such a disturbing word) is in good shape.

Some new doors and handles can make a huge difference (at a fraction of the cost).

Cheers

Jamie

Wow – just popped into bunnings to grab some more paint. Couldn’t get a car park and waited at the paint desk for half an hour! The weekend warriors (myself included) are out in abundance today!

Cheers

Jamie

Nathan Birch wrote:
Thanks Jamie,Little bit friendlier here

Tell me about it. You don’t have to worry about tall poppy syndrome here mate. Keep up the good work.

Cheers

Jamie

Hi Larry

Welcome aboard.

Nathan Birch just posted an interesting scenario based on someone earning $50k per annum that you might find useful https://www.propertyinvesting.com/forums/property-investing/general-property/4336419

Cheers

Jamie

Good post Nath and welcome to the darkside

Cheers

Jamie

Excellent, thanks for the info Anthony. I’ll keep my eye on in it – I’m sure I’ll have a few more questions in the mean time.

Cheers

Jamie

Hi Anthony

What sort of rents are those $150k places getting? What do the vacancy rates look like?

Cheers

Jamie

Hi Robbie

If it helps, there’s a few more handy links on my company’s website – http://www.passgo.com.au/property-data-websites

Cheers

Jamie

Hi Andrew

I was hoping you’d get amongst this thread:)

Have you got a few investors looking in the area at present? Have you also observed that the market in the sub $300k category has gone backwards over the last 18 months?

Cheers

Jamie

Hi Robbie

Check out the back of an API or YIP magazine as well. They show the median prices in each suburb in each state. They also provide rental yield figures. This will help you initially locate some areas.

You could also do a refined search on realestate.com.au

Cheers

Jamie