Well what a difference a year makes.
I bought my 2nd IP in April last year and was feeling pretty happy with myself. We bought under market value and I had 2 IP's yeehah. No-one I knew had 2 IP's.
THEN I found this site just after purchasing. WOW I was a bit deflated looking at everyone else's achievements. It got me thinking about buying more.
So at the end of last year I started looking. Now it was a lot easier when I was lacking knowledge (meaning that I was less picky).
Then the FHB swamped the areas I was looking in. I went to the opposite extreme and NOTHING was a good enough deal. I kept hearing about the great deals (high yield, instant equity deals people were finding).
I guess analysis paralysis set in.
By July I was disheartened.
Anyway I FINALLY found a nice little house. My other 2 are units.
We are going to give it a quick reno (paint, carpet, vanity and new toilet in bathroom, tidy garden).
Can't mention where yet (sorry).
Anyway with a $5K reno I should have $30K extra equity.
Rent will bring it in at a minimum of 7% yield.
Now I'm excited. After the reno I'm hoping to do the same again.
My hubby has never been interested in property (well he likes it but is not interested in research etc). But as soon as I told him I was looking for a place to reno he's gung ho.
He's made lists for what we need, order of doing things. He's allocate jobs etc. Yesterday we ran around all day looking at carpet, paint etc. It's very exciting.
He's even talking doing it it for a job. Now I have to try to calm him down. He works for QANTAS so there is NO WAY he's leaving that job.
I love my travel too much (see my name).
Sorry to rave but I'm a bit excited (is that obvious?)
I bought my 2nd IP in April last year and was feeling pretty happy with myself. We bought under market value and I had 2 IP's yeehah. No-one I knew had 2 IP's.
THEN I found this site just after purchasing. WOW I was a bit deflated looking at everyone else's achievements. It got me thinking about buying more.
So at the end of last year I started looking. Now it was a lot easier when I was lacking knowledge (meaning that I was less picky).
Then the FHB swamped the areas I was looking in. I went to the opposite extreme and NOTHING was a good enough deal. I kept hearing about the great deals (high yield, instant equity deals people were finding).
I guess analysis paralysis set in.
By July I was disheartened.
Anyway I FINALLY found a nice little house. My other 2 are units.
We are going to give it a quick reno (paint, carpet, vanity and new toilet in bathroom, tidy garden).
Can't mention where yet (sorry).
Anyway with a $5K reno I should have $30K extra equity.
Rent will bring it in at a minimum of 7% yield.
Now I'm excited. After the reno I'm hoping to do the same again.
My hubby has never been interested in property (well he likes it but is not interested in research etc). But as soon as I told him I was looking for a place to reno he's gung ho.
He's made lists for what we need, order of doing things. He's allocate jobs etc. Yesterday we ran around all day looking at carpet, paint etc. It's very exciting.
He's even talking doing it it for a job. Now I have to try to calm him down. He works for QANTAS so there is NO WAY he's leaving that job.
I love my travel too much (see my name).
Sorry to rave but I'm a bit excited (is that obvious?)