Hi everyone
I had an inspection today on a property which on paper looks good. It's a dual income so would give me a good yield. It's also in a decent area and I'm confident i'll see good growth. It also happens to be right next door to my other IP not that this matters either way.
I've got a LOC to use for the deposit, stamp duty etc but was hoping to leave at least $10k in this to reno #1. If I buy this one it'll take me pretty much up to my limit.
I'm a bit confused - do I buy this one because the numbers stack up well, and forsake the reno on #1? This could also mean that I wouldn't be able to add value to use for leverage on a further property, or do I look for something cheaper with equally good numbers so I can still do the reno on #1.
Would love some advice or thoughts here.
Thanks
I had an inspection today on a property which on paper looks good. It's a dual income so would give me a good yield. It's also in a decent area and I'm confident i'll see good growth. It also happens to be right next door to my other IP not that this matters either way.
I've got a LOC to use for the deposit, stamp duty etc but was hoping to leave at least $10k in this to reno #1. If I buy this one it'll take me pretty much up to my limit.
I'm a bit confused - do I buy this one because the numbers stack up well, and forsake the reno on #1? This could also mean that I wouldn't be able to add value to use for leverage on a further property, or do I look for something cheaper with equally good numbers so I can still do the reno on #1.
Would love some advice or thoughts here.
Thanks