IP#3 - 5% Deposit with LMI - Bad decision?

[sash]

Hi Josko,

Took a day trip and drove to Wyong way.

I found a house in the Wyong shire for 150k...it needs a lot of work... (about 15K).

It was on the market for 190K....trying to get them down further. Once renos are done the rent should be between 230-250pw.

Will keep you posted.

So the trip up on the weekend was worth it sash?

Regards JO

 

[tbinvestor]

Good new is my lender (CBA) approvel a 95% lend on 5.04%

Bad news is the property I had my eye on sold...it was just too cheap, only advertised for 4 days before they received 5 unconditional offers.

Im not at all disspointed though becuase I learnt alot over the past week and im also actually prepared for my next IP purchase.

This has been an extremely imformative thread, cheers.

 

[josko]

Good new is my lender (CBA) approvel a 95% lend on 5.04%

Bad news is the property I had my eye on sold...it was just too cheap, only advertised for 4 days before they received 5 unconditional offers.

Im not at all disspointed though becuase I learnt alot over the past week and im also actually prepared for my next IP purchase.

This has been an extremely imformative thread, cheers.

Oh well, you are now prepared though as you say.

There are plenty of houses out there and you will find one just as good, if not better.

Sash,

Good for you. You really are a bargain hunter!

Regards Jo