2nd IP

[Noeyedear]

Okay,
2nd IP is all done and dusted.

Just thought I would share details just to add to the info available for better or worse.

Purchase price $310 allowed 5k for Air Con, fans and possibility of no rent period. Borrowed $327k at 8.19% fixed for 3yrs.

Rented for $340 12mth lease moved in yesterday. So 2wks since settlement without rent. I had allowed for 6wks without rent in the 5k extra.

Property is at Dinmore QLD which is on the way to Ipswich. If you look at median sales price of about 220k I think from memory.

However I had been through a lot of houses before I bought this one. So I felt I had a pretty good idea when looking at houses what they would rent for.

So I have tried to put into practice all I have learnt on this forum as well as my own experience.

Any comments or questions

 

[alexlee]

Congratulations. Have you got a depreciation report yet?
Alex

 

[Noeyedear]

Thanks Alex,
I had Washington Browne do depreciation schedule but I have not received it as yet. Been about 10days so should get it soon.

 

[WBG Redcliffe]

Well done Noeyedear, when will the 3rd IP be on its way?

 

[Noeyedear]

Thanks WBG,
3rd IP probably next year. Will keep my eye on the ball in the meantime. Let CG and Rent Increase I hope come into play. Then will be in a position to buy again without increasing stress levels too much.

Bill