All Topics / General Property / Finally Got Our 2nd Property *yay*

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  • Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    We got the keys to our 2nd home yesterday. It certainly was a rough ride but we got there – thanks to Richard Taylor who we met through this forum and all the wonderful advice we have picked up on this forum.
    It was a long road as we moved from the country to the city 12 months after buying a house there and doing all the wrong things of fixing our principal and interest home loan – we have rented this house out. This country area has had no increase in property values since we bought it 3 years ago.
    We then had all the drama's of work history – I was temping initially until I had my current job which had a 6 month probation. Then hubby lost his job and switched industries. I also now work a second weekend job that has made a huge difference to our lifestyle.
    The properties in Melbourne were super hot during this initial period and we never thought we would get a foot in the door. But it certainly gave us time to study the market and change our objectives.
    We think we have bought sensibly (Seaford, Vic) and certainly have a view of improving this property specifically to turn into a future rental property. In fact when our offer was accepted there was another townhouse for sale in the complex, that we thought was the lesser of the 2. It sold shortly after for $11k more than what we paid for ours – so already feel like we are on a winner.
    Anyway just wanted to share our achievement – hopefully to inspire others that feel it may be impossible to go that initial/next step in property investing.

    Profile photo of sophiehsophieh
    Member
    @sophieh
    Join Date: 2009
    Post Count: 27

    Congrats! Good move! I am also invested in this area and looking forward to see the improvement that will come over the next few years :) I am eagerly awaiting settlement of my second house in the area..

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Great news to hear that you will be in at the weekend Maree after those floors are finished.

    Very excited for you and glad we were able to assist.

    Richard Taylor | Australia's leading private lender

Viewing 3 posts - 1 through 3 (of 3 total)

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