Just settled for my first IP today!!!!!

[Edmond Dantes]

Boys & Girls, It's happened. My first investment is now mine. Everything went so smooth, had plenty of time (35 "working" days) to organise insurances, finance, inspections, etc, etc. It's definitely good idea to have a long period.

The owners have decided to stay for 6 months renting, niiiceee.

thanks to all that helped, I've learnt so much in this forum.

Now to start saving again for my second one ;-)
-Andrew

 

[BV]

Hi Andrew

Buying IP's these days takes a lot of courage so congratulations,
Have you got a PPOR?

cheers

 

[Edmond Dantes]

Thanks. My strategy is for the long term so I'm able to take short term price drops. Besides, I think I paid a good price for it, and I believe you make money is when you buy.

Nope, I haven't got a ppor: I've decided to rent and will be doing it for a while. At the moment I'm paying cheap (around $120/wk) and will try to keep paying low for the future. my ppor is not priority-yet.

 

[Alex P Keaton]

congrats I know how exciting it is

 

[BayView]

Well done Andrew.

Good time for you to be buying I suspect as well.

There may be a lit more of a drop short term, but longer term it'll be good.

 

[want2bewealthy]

Congratulations!
youll learn alot from your first and can save for the second in the mean time, good on you!

 

[Stella]

Well done & welcome to the obsession!

Cheers
Stella

 

[savoys]

congratulations it does take courage... very exciting for you. just wondered , have you drawn up an agreement with the new tenants- the previous owners? just to be on the safe side

 

[Edmond Dantes]

Thanks..

Yep the PM organise all the things in formal; just like a normal "unknown" tenant.

-Andrew