Looking for good ROI property around 400k any ideas

[Jamie M]

Yep, I agree with you recruit.

I think my next purchase will be in Googong (the first stage of development is scheduled to commence mid year). Because it's just over the border in NSW, the stamp duty concessions (particularly on OTP purchases) make it look very attractive. We're thinking of buying our next PPOR there.

 

[charlieandkath]

I was looking at Canberra from Google Earth the other day and looking at my trusty Hema map book aswell and the ACT as a whole is nearly built out in my opinion. This could only be a positive thing for the continuation of very strong growth. Looking in the API Magazine up the back at ten year growth most suburbs have achieved 9 to 12 % growth (I know you have to be diligent about these figures as they can get thrown out by certain factors).

Strong rent yields aswell.

 

[Jamie M]

Yep, it's past performance has been impressive. From my own perspective it seems that the market is heating up right now - a few real estate agents I've spoken with have mentioned the same.

 

[Craiginqatar]

Zed kid. Local Aussie Banks will lend no problem for overseas Australians providing that you have a 20% deposit or 20% in equity. They will not take overseas equity into account it must be Australian based. If you buy another property the amount you require goes down, but loan insurance below 20% equity for an expat is steep. There are brokers that can get less but their rates are generally high. Im not sure about non Australians though.

 

[zed_kid]

Zed kid. Local Aussie Banks will lend no problem for overseas Australians providing that you have a 20% deposit or 20% in equity. They will not take overseas equity into account it must be Australian based. If you buy another property the amount you require goes down, but loan insurance below 20% equity for an expat is steep. There are brokers that can get less but their rates are generally high. Im not sure about non Australians though.

Thanks Craig! Local aussie banks will lend in aud though right?... I don’t want the currency risk. Is the Qatar riyal pegged to usd like the Dirham? Sorry for hijacking your thread

Edit: also do you need to have a job in Qatar or a sponsored visa to buy RE there?

 

[Mick C]

Thanks Craig. Just curious, how does finance work for an overseas investor? Do the local banks lend?

Overseas investor coming to Aus- Yes they do ( CBA, ANZ, NAB...)...but there are some conditions which are not controld by the bank but by Foreign Investment Review Board http://www.firb.gov.au/content/default.asp

1. Must be new development only/ off the plan etc
2. Investment home only NO PPOR
3. have to sell after they go back Overseas - some exception can be looked at


Overseas investor NOT coming to Aus - Still yes but expect it to be a private lender and rate of 13%. = pointless in term of investment yield...


Ex-pats and Aus living/working Overseas- easy YES! - LBR might be capped at 80% and income received cut back by 10%. But all in all it's easy to get finance still.

Regards
Michael