G'day,
I am 28 and have been reading this forum for a while.
My first IP was a unit in Eastern burbs of Melbourne when I was 21, I unfortunately sold it a couple of years back,
Recently I have been on a IP buying binge in Nth Queenslend mainly, I have recently settled two up there last month with another one next month and a victorian house settling next month.
I am looking at purchasing a block in Nth Qld now also with the idea of placing a prefab duplex on same, on my costs i reckon it should be done for 300k including land with the same duplexs renting at 800pw in that town and selling for high 4's, problem is atm one is all i can do, even though there appears to be 150k profit in the deal, very frustrating those bloody banks.
Anyway, I will keep plugging on and hope the town doesnt boom too much before i can get another one or two in the pipeline.
Look forward to hearing from you all,
cheers
I am 28 and have been reading this forum for a while.
My first IP was a unit in Eastern burbs of Melbourne when I was 21, I unfortunately sold it a couple of years back,
Recently I have been on a IP buying binge in Nth Queenslend mainly, I have recently settled two up there last month with another one next month and a victorian house settling next month.
I am looking at purchasing a block in Nth Qld now also with the idea of placing a prefab duplex on same, on my costs i reckon it should be done for 300k including land with the same duplexs renting at 800pw in that town and selling for high 4's, problem is atm one is all i can do, even though there appears to be 150k profit in the deal, very frustrating those bloody banks.
Anyway, I will keep plugging on and hope the town doesnt boom too much before i can get another one or two in the pipeline.
Look forward to hearing from you all,
cheers