Hi Guys
I am a newbie here. Just talk a bit about myself. I have a investment property in Pyrmont and currently bank has done a revaluation showing $160k increase on its value. I wanna do a re-financing, then to cash out and pay the deposit for another investment property. Also i wanna take advantage of the low interest rate and weak Aussie $.
My plan is to keep re-financing my investment properties and keep cashing out to buy more investment properties with good rental return (help the cash flow). My main target is 2nd hand apt or house if the price is right. I will stay away from the off plan as the price is too high and too many competitors including overseas buyers. My outlook to Sydney market is quite optimistic and given a large new migrant intake every year, the demand for new home & rent is strong. Any suggestions?
Also when doing the research, i found the price estimates given by RP data, or the free onthehouse.com are too elastic sometimes, you may see a $100k gap or sometimes the estimated price is way higher than the price guide given by the sales agent, so I am wondering how reliable those estimates are? Can I focus more on individual property's historical sales and sales records in the same suburb to make a more rational ?guesstimate'? All suggestions are welcome!
I am a newbie here. Just talk a bit about myself. I have a investment property in Pyrmont and currently bank has done a revaluation showing $160k increase on its value. I wanna do a re-financing, then to cash out and pay the deposit for another investment property. Also i wanna take advantage of the low interest rate and weak Aussie $.
My plan is to keep re-financing my investment properties and keep cashing out to buy more investment properties with good rental return (help the cash flow). My main target is 2nd hand apt or house if the price is right. I will stay away from the off plan as the price is too high and too many competitors including overseas buyers. My outlook to Sydney market is quite optimistic and given a large new migrant intake every year, the demand for new home & rent is strong. Any suggestions?
Also when doing the research, i found the price estimates given by RP data, or the free onthehouse.com are too elastic sometimes, you may see a $100k gap or sometimes the estimated price is way higher than the price guide given by the sales agent, so I am wondering how reliable those estimates are? Can I focus more on individual property's historical sales and sales records in the same suburb to make a more rational ?guesstimate'? All suggestions are welcome!
