Looking to buy a 2nd property, just wondering if people think it is viable to take the next step.
Currently have 70k in available cash....
any thoughts on st kilda east?
I have noticed the market has 109 properties for sale... and it is a bit patchy....
some 2 bedroom...
i made my money in newport.
Spent 6 months there whilst doing a reno.
Gets a tick from me. Grew up in sth east.
st kilda east 2 bedroom apartments are ranging from 400 to 650.
460 to 470 is about the norm for a decent layout with reno potential.
i dont think you could go far wrong if you bought an old 1bedroom apartment in need of a reno.
Id just make sure its over 50m2 and has a carspace.
if your watching kochie your probly not at work!
well i havent signed the docs as yet. So i value input from others.
Still over 30 days till settlement.
So i care.
applied for a loan today.
85 percent l.v.r interest rate 7.11 percent
any thoughts good deal? No mortgage insurance payable.
i beleive st kilda east still has some value. 2 bedroom apartments can be had from 430to 460, and tthe big ones go for up to 670. carnegie is on...
realbus, what rate did westpac offer? They have offered me 85 percent at 7:11 percent interest only for a 391k loan.
i think it comes down to deographics on where you are buying.
I am invested in the inner south east in melbourne in a 2 bedroom apartment....
$485k for a run down 1 bedroom apartment in denbigh road armadale.......
id want over a 5 percent gross yield if i bought in those areas. Id rather a 4 percent yield around st kilda east or glen iris.
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