Hello there,
New here, found your site through Google and looks like a good community.
Just wanting some advice with my current purchase and next purchase.
My situation:
Own 1 IP in Sydney - 1 bed apartment in Surry Hills. Bought for $350k is now worth 450-490ish
Have just purchased 2 houses in Finley, NSW and will be renovating them for the next few months.
Bought both for $130k - http://www.realestate.com.au/property-house-nsw-finley-111074427
Now I'm looking at some more that fit this brief:
$200k - $250k
80% LVR
7%+ gross yield (after reno)
10% - 80% of median
Renovation potential
Minimum population 5000+
The aim is creating some equity through renovation to fund the next purchase once the 6 month val is done.
Serviceability hopefully won’t stop lending as the properties will be close to neutral.
CG is not the focus here but would be a nice bonus.
Here are some that fit the brief:
http://www.domain.com.au/Property/For-Sale/House/VIC/Ballarat-North/?adid=2010078873
http://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/WA/Halls-Head/?adid=2010196905
http://www.domain.com.au/Property/For-Sale/House/VIC/Long-Gully/?adid=2010111450
http://www.reiq.com/House/for-sale/sadliers-crossing/2373145.aspx
http://www.domain.com.au/Property/For-Sale/House/NSW/Cardiff/?adid=2010181867
http://www.domain.com.au/Property/For-Sale/House/SA/Hackham/?adid=2010139625
http://www.propertynow.com.au/realestate-residential-alfredton-63046.aspx
Please help me by commenting on the properties shortlisted above and/or any other advice that may be relevant.
New here, found your site through Google and looks like a good community.
Just wanting some advice with my current purchase and next purchase.
My situation:
Own 1 IP in Sydney - 1 bed apartment in Surry Hills. Bought for $350k is now worth 450-490ish
Have just purchased 2 houses in Finley, NSW and will be renovating them for the next few months.
Bought both for $130k - http://www.realestate.com.au/property-house-nsw-finley-111074427
Now I'm looking at some more that fit this brief:
$200k - $250k
80% LVR
7%+ gross yield (after reno)
10% - 80% of median
Renovation potential
Minimum population 5000+
The aim is creating some equity through renovation to fund the next purchase once the 6 month val is done.
Serviceability hopefully won’t stop lending as the properties will be close to neutral.
CG is not the focus here but would be a nice bonus.
Here are some that fit the brief:
http://www.domain.com.au/Property/For-Sale/House/VIC/Ballarat-North/?adid=2010078873
http://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/WA/Halls-Head/?adid=2010196905
http://www.domain.com.au/Property/For-Sale/House/VIC/Long-Gully/?adid=2010111450
http://www.reiq.com/House/for-sale/sadliers-crossing/2373145.aspx
http://www.domain.com.au/Property/For-Sale/House/NSW/Cardiff/?adid=2010181867
http://www.domain.com.au/Property/For-Sale/House/SA/Hackham/?adid=2010139625
http://www.propertynow.com.au/realestate-residential-alfredton-63046.aspx
Please help me by commenting on the properties shortlisted above and/or any other advice that may be relevant.