Hi All

[outbackjack]

As above. I couldnt find the bar to introduce myself, so I thought the coffee shop might be the place. Please move my post if there is a more approtiate place to post.

I just joined this forum, being a intresting read of the last couple of days.

Currently I have been in Queensland over the last 8 months. Being OS for couple years before that.

I came back to Oz broke and with out any properties.

However here is what I have brought so far

Nanango, new 4 bedroom house. Paid 186500, currently rented out at 210 a week. Was going to be PPOR but ending up being IP. is just been valued at 195K, which was a little low, however valuarer in Nanango is know to be very conservative with Vals. Loan is P&I

Kangaroo Point: 1 Bedroom 5YO Unit. Paid 189500, currently PPOR, Recent Val came in at 210K. Loan is IO fixed for 3 years


Eagleby, 3 bedroom house, bout 20 odd years old. IP. Just settled on this one. Paid 215,000. Hope to be revalued at arund 250 to 270 after reno.Should rent out for somewhere between 250 to 270. Needs paint, kitchen and tidy up. Block is 880sqm and has 4yo shed and pool.
I only have a budget of 10k for reno so wish me luck. Loan is IO for 3 years variable

All loans are cross (colatrised(spelling)) at the moment. Borrowed against two other propeties to get Eagleby property, Also borrowed 240k to pay for all fees etc. Was left the 10k for the minor reno required. I will post pics late if any ones intrested.

Ok thats it at the moment.

 

[The Y-man]

As above. I couldnt find the bar to introduce myself, so I thought the coffee shop might be the place. Please move my post if there is a more approtiate place to post.

Welcome! The Coffee Lounge is an excellent place to introduce yourself IMHO.

Cheers,

The Y-man

 

[WinstonWolfe]

Wow OBJ, don't know what you did in the 8 mths since you got back to Oz broke, but power to you.

Nanango was an interesting choice for your first purchase, as was Eagleby for your third.

REA.com shows many houses in Nanango for sale, BUT only 2 rentals. Seems it wouldn't be hard to buy +CF. Meanwhile, IMHO Eagleby is a timely buy.

You couldn't shed any light on the timeline of the train line from Glen Wilga mine?

 

[our obsession]

Congratualtions on the work and acquiring the 3 x properties OutbackJack, sounds like you have been having some fun, mighty effort, a credit to you.

 

[outbackjack]

Thanks All.

Some explanations,

I moved back to Oz and after a brief stint back in Darwin was offered a job in Nanango. This is why I brought property there. No other reason. However I was then offered better job in Brisbane. No idea when railway line is going or if. However there is a new shopping centre that is going to built there.

Kangaroo Point was next purchase, like a week after Nanango settlement. I brought this property to live in. It was the cheapest place closest to work. At 189K I didnt think I could lose.
It is on a main road that will get impacted by tunnel, however long term it will be a renter and dont think it will be a problem to them.

Eagleby. Just settled. I have done some reading and looking at different stats for Eagleby. In the 90`s there was over 20% government housing there. Its now down to around 10%. The shopping centres is suppose to be getting renovated. Suburb does have a bad rap and some way to go. However it is one of the last suburbs I think where prices are low and good capital gain to be had. I paid 215K for house with pool and shed. It has all things people look for, shops close by, schools and public transport etc. Would be intrested what other thoughts are for Eagleby.

Cheers

 

[WinstonWolfe]

Eagleby is a good choice for all the reasons you mention. I'd recommend you buy your next one there as well.....or near a train station. Although the media and pollies are all tied up in knots of global warming angst , peak oil effects will hit us in 3-5 years.

 

[outbackjack]

I think Eagleby is in a good position even with global warming, about 2kms from train station. Public Transport is suppose to be getting address in Eagleby.
Not sure when I can get another property. Think I am going to hit the affordabilty wall soon.
However if I can get the traddies for Eagleby I am hope to pick up a little there, however I did borrow another 15k for costs and 10k for reno. However think it should come up to around 260 or 270. Well here is hoping.

Cheers