Hey guys,
I'm looking at my first IP in shepparton, vic. Just want to grab some thoughts / advice before I jump into it..
I won't go into specifics but the property Im looking at is right in the centre of town on a lot of 4. They are asking 185k and the surrounding units are renting for 220p/wk so on an 90% lvr loan I'd be taking in about $20 p/wk before costs.
Shepp isnt a huge town but there is a lot of shopping centres etc being built lately ( two in as many years ) I just want to break into the market with something small thats "safe" for me. As I know the area well given that I grew up here. I know the good and bad areas.. I'm just not sure that i'll get bang for buck yet.
Any thoughts?
+ I'm also a first home buyer so I'd be applicable for the grant to bring the lvr down if I were to live in the house for 6 or 12months, Not 100% what it is atm.
I'm looking at my first IP in shepparton, vic. Just want to grab some thoughts / advice before I jump into it..
I won't go into specifics but the property Im looking at is right in the centre of town on a lot of 4. They are asking 185k and the surrounding units are renting for 220p/wk so on an 90% lvr loan I'd be taking in about $20 p/wk before costs.
Shepp isnt a huge town but there is a lot of shopping centres etc being built lately ( two in as many years ) I just want to break into the market with something small thats "safe" for me. As I know the area well given that I grew up here. I know the good and bad areas.. I'm just not sure that i'll get bang for buck yet.
Any thoughts?
+ I'm also a first home buyer so I'd be applicable for the grant to bring the lvr down if I were to live in the house for 6 or 12months, Not 100% what it is atm.
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