Hi
What do you think of buying IP in Mount Macedon and converting it to owner occupied in 4-5 years time. This property is at 1.5Mil mark and could fetch $1300 in weekly rent. I am planning this to be initally IP so I can depreciate, bring down loan amount in 5 years time before I move in and becomes my PPOR. Agent is saying it could easily fetch $1300 for the property and lots of interest from high executives who want for long term lease.
Do you think it makes sense for this high value purchase. Any risk with the area and this investment.
Note: This property was listed initially around 2 Mil and now reduced to 1.5Mil.
Regards
Sivakumar
What do you think of buying IP in Mount Macedon and converting it to owner occupied in 4-5 years time. This property is at 1.5Mil mark and could fetch $1300 in weekly rent. I am planning this to be initally IP so I can depreciate, bring down loan amount in 5 years time before I move in and becomes my PPOR. Agent is saying it could easily fetch $1300 for the property and lots of interest from high executives who want for long term lease.
Do you think it makes sense for this high value purchase. Any risk with the area and this investment.
Note: This property was listed initially around 2 Mil and now reduced to 1.5Mil.
Regards
Sivakumar
