Hi Investers,
Iam 26yo, newly married and iam working in the mines with a salary is 104,000pa also still currently studying.
I have been intersted in property investing for a while and not sure how to aproach it so i went seaching and have found a company (not wanting to name) that brookers investment properties off the plan in proven groth areas, which is not a problem.
The problem i have is they believe i can afford this with my current savings, although iam worried they may just want a quick turnover on there books. If anybody could point me in the direction of an advisor in the Newcastle area that could look a little closer at this for me i would dearly appreciate it.
My situation is $20k in cash savings with no other depts at all and the property off the plan value is $350k, i would need a 95% loan.
Thank you for your time
JG'day jib 2431,
please contact me at [email protected] I think I know this company as I am at Raymond Terrace but I don't want to de-fame the company on this website.
Hi,
i would get on the realestate.com.au site and have a look at what is currently available for sale at the moment as well as what current rental returns are. You may also like to google the town where you are looking to purchase to find out what the current and expected growth for the area is and what development or businesses are in the area that may impact the need for rental properties. you may be able to buy a similar property for less or may find that their costs and projections are at odds with what others are saying about the area.
the long answer is research, research, research!
good Luck'
Sonya
The sales person may not care about whether you can afford it or not, they may just want their commission. Be careful.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Whilst a 95% LVR on investment maybe still doable as has been mentioned previously the Broker may not care about whether the deal or finance is right for you but merely whether he can get a sale and receive a commission.
If you are interested in NSW I can certainly suggest a Buyers Agent to you that will act on your behalf rather than the Vendor or Marketing Company / Developer who he/she represents.
Richard Taylor | Australia's leading private lender
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