W
WebBoard
Guest
From: Deborah R
Hi Forum,
Firstly - thank you to everyone who has invested their time in posting so much excellent information. I've been up until all hours reading for the last few nights and this is really great.
I'm very much a newbie and I think I should have been here 10 years ago but now with the big 40 approaching I've decided I need to focus now. Here's our situation.
We own our house - value $850K
Savings, Shares etc about 70K
My income 50K, my husband 60k
Two dependents (6 and 3)
Here's my questions:
1. We're in Sydney and in our local area I have a good idea about rents and purchase price however a unit here is about 400K and I feel like it may be better to buy some properties that are not as expensive (say 2 at 200K, maybe 4 at 100K) rather than put everything into one property ie spread the risk a bit more.
2. I'm not expecting someone to give me all the answers and free information. I think I need to get the experience myself but I would appreciate it if anyone could give me some pointers about where I start to look at other suburbs in Sydney or even other parts of Australia. I did go to a few seminars but the people running them obviously have a vested interest in the properties and I felt uneasy so I didn't go ahead.
3. It seems that a new property with quality fittings, high building cost gives a much higher value on the depreciation so that the cost in income per week to me is much less. Have I missed something here or is new (or newish) the way to go?
Thanks so much in advance for your help,
regards, Deborah
Hi Forum,
Firstly - thank you to everyone who has invested their time in posting so much excellent information. I've been up until all hours reading for the last few nights and this is really great.
I'm very much a newbie and I think I should have been here 10 years ago but now with the big 40 approaching I've decided I need to focus now. Here's our situation.
We own our house - value $850K
Savings, Shares etc about 70K
My income 50K, my husband 60k
Two dependents (6 and 3)
Here's my questions:
1. We're in Sydney and in our local area I have a good idea about rents and purchase price however a unit here is about 400K and I feel like it may be better to buy some properties that are not as expensive (say 2 at 200K, maybe 4 at 100K) rather than put everything into one property ie spread the risk a bit more.
2. I'm not expecting someone to give me all the answers and free information. I think I need to get the experience myself but I would appreciate it if anyone could give me some pointers about where I start to look at other suburbs in Sydney or even other parts of Australia. I did go to a few seminars but the people running them obviously have a vested interest in the properties and I felt uneasy so I didn't go ahead.
3. It seems that a new property with quality fittings, high building cost gives a much higher value on the depreciation so that the cost in income per week to me is much less. Have I missed something here or is new (or newish) the way to go?
Thanks so much in advance for your help,
regards, Deborah
Last edited by a moderator: