Hi all,
Like other people on this forum I have been reading for a while and now would like to contribute and see what others think of my situation.
I have been in property for a few years now and am seeking a bit of advice on what to do next.
I earn 100,000
mrs earns 85,000 (prob having children in 2-3 years fingers crossed) so count that out
(we are both teachers)
30,000 in tax back annual
50,000 in rental return after management fees annual
88,000 in mortgage annual
10,000 in the bank and growing by 4,000 a month
i live in a government subsidised house (geha) in the north
I have;
1 x northbridge unit conservative value at $320,000 mortgage of $173,000
1x north perth unit value $265,000 mortgage $160,000
1x scarborough house (693sqm - triplex block) valued $829,000 mortgage of $698,000
1x loan of $55,000 i drew off north perth to buy scarborough.
The owner of next door scarborough is wanting to sell and it has a 4x1 house and a fully self contained 1x1 on the back divided buy a fence that also runs down the side of the house (would get good rent return for both)
I am keen to pursue this and I will talk to my mortgage broker, however I do not think I will ever be in a position to build 6 on combined site (finding the money) so maybe look for investing opportunities elsewhere and work towards building 3 on scarb one day????
has anyone reading this ever built 3 houses on a triplex block?? what kind of money does the bank want to see before you can proceed??
thankyou in advance for any feedback
Like other people on this forum I have been reading for a while and now would like to contribute and see what others think of my situation.
I have been in property for a few years now and am seeking a bit of advice on what to do next.
I earn 100,000
mrs earns 85,000 (prob having children in 2-3 years fingers crossed) so count that out
(we are both teachers)
30,000 in tax back annual
50,000 in rental return after management fees annual
88,000 in mortgage annual
10,000 in the bank and growing by 4,000 a month
i live in a government subsidised house (geha) in the north
I have;
1 x northbridge unit conservative value at $320,000 mortgage of $173,000
1x north perth unit value $265,000 mortgage $160,000
1x scarborough house (693sqm - triplex block) valued $829,000 mortgage of $698,000
1x loan of $55,000 i drew off north perth to buy scarborough.
The owner of next door scarborough is wanting to sell and it has a 4x1 house and a fully self contained 1x1 on the back divided buy a fence that also runs down the side of the house (would get good rent return for both)
I am keen to pursue this and I will talk to my mortgage broker, however I do not think I will ever be in a position to build 6 on combined site (finding the money) so maybe look for investing opportunities elsewhere and work towards building 3 on scarb one day????
has anyone reading this ever built 3 houses on a triplex block?? what kind of money does the bank want to see before you can proceed??
thankyou in advance for any feedback