Hi all,
I'm new to this forum, so please excuse me if I step on any toes or ask silly questions.
My hubby and I have just set up a SMSF and we are in the process of conducting our research to purchase an IP, or rather the SMSF will be taking on a mortgage to purchase this property. As you can imagine our lender has some very strict rules and regulations regarding offering a loan to a SMSF without any personal guarantees (i.e. LVR 70% and will not loan funds for properties in certain areas and you can't use the equity to purchase another property in the future) and bottom line we don't want to make a mistake with our retirement nest egg.
Anyway we have decided that the Newcastle inner city suburbs is where we want to put our retirement funds and any feedback on the suburbs listed would be greatly appreciated: Hamilton, Islington, Mayfield, Broadmeadow and Waratah. We live in Port Stephens and I have been reading Your Investment Property and Property Investor over the last 4 months, viewing properties online and in person and basically trawling the web for all the information I can gather. I personally like Hamilton, but from my reading Islington and Mayfield, which are cheaper, may be the better way to go long term.
Thanks
I'm new to this forum, so please excuse me if I step on any toes or ask silly questions.
My hubby and I have just set up a SMSF and we are in the process of conducting our research to purchase an IP, or rather the SMSF will be taking on a mortgage to purchase this property. As you can imagine our lender has some very strict rules and regulations regarding offering a loan to a SMSF without any personal guarantees (i.e. LVR 70% and will not loan funds for properties in certain areas and you can't use the equity to purchase another property in the future) and bottom line we don't want to make a mistake with our retirement nest egg.
Anyway we have decided that the Newcastle inner city suburbs is where we want to put our retirement funds and any feedback on the suburbs listed would be greatly appreciated: Hamilton, Islington, Mayfield, Broadmeadow and Waratah. We live in Port Stephens and I have been reading Your Investment Property and Property Investor over the last 4 months, viewing properties online and in person and basically trawling the web for all the information I can gather. I personally like Hamilton, but from my reading Islington and Mayfield, which are cheaper, may be the better way to go long term.
Thanks