- siewlinParticipant@siewlinJoin Date: 2012Post Count: 19
Hi , i am a newbie in investment property! Please share your wisdom and guide me and i appreciate it very much!!
these are the following questions:
1.I wanted to buy an investment property at subiaco, but i do not know where to get information regarding the demand of tenants of the suburb?If i were to ask the agent, they will be bias right?
2. The advertisement for the apartment is attractive as it asks for $10k deposit then to pay the rest upon completion.I am also looking to buy a house for myself to stay. Is it wise to kill two birds with one stone? Can i buy grab the investment property which seem to have lots of potential such as near to the city and hospitals and at the same time buy a house as principle of residence?
3. Since i am a newbie, who shall i consult for advice?
4 .what shall i look out when purchasing 2 properties at the same time?
thanks !Kylie WalshParticipant@kylieppiJoin Date: 2014Post Count: 23
Have you thought about putting a financial plan in place to work out what is the best strategy for you. Unfortunately most people don’t get advice and then find out they could have done it a better way. By getting advice you will know the right structure, what deposits you should be putting in, what your cash flow will be and the right area for the best capital growth. Investing is all about making money but where you want to live is a personal choice.
Also if you do want to purchase a PPR and investment at the same time then I would suggest using a good mortgage broker who will use 2 different banks so the properties are not cross-collateralized.PHPParticipant@phpJoin Date: 2014Post Count: 111
i would start by working out how much I can afford. A good mortgage broker can work this one out for you pretty easy and advice you on how things should be structured given the goals you have in mind.
Once you know how much you can afford, this will filter the areas that is out of your affordability scale.
Why do you want to invest in properties? Answer this and this will formulate your strategy moving forward.
Cheers!siewlinParticipant@siewlinJoin Date: 2012Post Count: 19
hi there thanks for your advice. i am looking for a good mortgage broker who does not work for the bank. any recommendation? thanksPHPParticipant@phpJoin Date: 2014Post Count: 111
Most of the brokers that post here is not affiliated to just one bank. There’s a big difference between Mobile Lenders who just works for one bank alone, and a mortgage broker who works for the client and has around 20+ lenders behind them and will surely recommend that right lender for your goal. It starts by assessing your situation and asking questions about what do you want to achieve short term, mid term and long term. Have a look around the forums and you’ll see some very knowledgeable brokers here.
Are you located in WA? Do you prefer face to face meeting? If your are fine with transactions over the phone, email, skype (which is very common now and the preferred method by many) then look around the forums.
To name a few:
Jamie Moore – ACT/Sydney
Corey Batt – Adelaide
Richard Taylor – Qld
Terry Waugh – Sydney
Learned a lot from these wonderful people.