Advise on what to do next

[tegs77]

Hi All

This is my 1st post and I am after some advise on what I should do next:

My current situation

Bought off the plan unit in Liverpool Sydney end of 2013 for $369k due for completion end of this year and looking at todays value of new similar units in Liverpool it should be worth around 440k-450k upon completion

Mid last year bought 3 bedroom townhouse in Coomera Qld for 235k returning $330 rent per week property is 14years old.

Mid last year bought 3 bedroom villa at Woodridge Qld for $193k returning $290 rent per week property is over 30 years old.

The above properties were all purchased from equity from my primary place of residence with 20% deposits from the equity loan

I have just released another 100K equity loan from Primary place of residence and ready to go again.

I have my mind set on the Logan region again as the yields are still good with good CG prospects.

I really want to get a house so I have some land in my portfolio and not sure weather to get 1 newer house in the mid to high 300k's with approx yield of 6-6.5% or if I should be looking at getting and older style cheaper house with a potential higher yield but obviously this will have less depreciation than a newer house.
So if buying newer the bottom line after depreciation I think would be similar to an older property with higher yield?

The other option is to buy 2 cheaper units or townhouses but I am pretty keen to add a house to the portfolio.

The end result I want to make the most of the 100k equity loan I have available and need whatever I buy to be neutral or positive.

Any advise would be greatly appreciated.
Cheers

 

[knightm]

Well done so far!

Do you have a specific set of goals or a strategy that has led you to the purchases so far? It would be helpful to know where you are going to decide whether more in Logan or something else might be beneficial.

 

[knightm]

You could also consider acceleration methods such as renovations or small development so that extra land could come in really handy down the track, this will make site selection very important.

 

[tegs77]

Well done so far!

Do you have a specific set of goals or a strategy that has led you to the purchases so far? It would be helpful to know where you are going to decide whether more in Logan or something else might be beneficial.

Hi Knightm,

Thanks for the reply. It may be a cliche but I have simply stared this investment journey to hopefully be in a comfortable financial position so that I could retire if I wanted to within 10 - 15 years (I am 38 now). So however that might happen whether it be living off the equity, or sell some properties to pay the others off and live off rent.
This aquisition stage is so important to try and get right to make the end result achievable, hence why I am at this stage of what I should be doing next. I think the most logical thing to do is buy a house that is a little run down, give it a cosmetic make over with maybe a new kitchen or bathroom and hope to get some instant capital from this.
Or as I mentioned in original post get something newer with less yield but maybe more depreciation.
Also 10 or 20 % deposits which will help determine whether i get 1 or 2 properties and at what price points.
So many questions and I guess there is no right answer just got to look for a good deal(s)