Just for the hell of it...I am always interested in this sort of data...
Type of first investment property???
- Thread starter HandyAndy888
- Start date
Our virgin IP was a house, (new construction). I do have a hankering for a block of units tho'. Just for fun, something to aim for.
Just for the hell of it...I am always interested in this sort of data...
Ours was a brand new 3 x 2 townhouse in a block of 4 in a decent suburb - Mentone. Very nice.
Great depreciation, but not so good rental yield - we were expecting more but the market was soft, and our joint was a bit over the average in price, so less renters in the pool.
Sold it after 18 months for about a $5k profit after all costs, rent income and tax returns were factored in. Live and learn.
House that we'd seen advertised for a year and finally decided to inspect.
bought 2
First day of serious looking, bought 2 properties:
5 bedroom 5yr old drug house just need patching and painting.
an old 1950's flat roof besa brick 3br house and 2br unit under 1 roof on 1 title, advertised as 5br house with 2 kitchens.
That was a good day.
Bit of effort to get the finance through but with LMI we got it done at 90% loan.
Enjoy
Graeme
First day of serious looking, bought 2 properties:
5 bedroom 5yr old drug house just need patching and painting.
an old 1950's flat roof besa brick 3br house and 2br unit under 1 roof on 1 title, advertised as 5br house with 2 kitchens.
That was a good day.
Bit of effort to get the finance through but with LMI we got it done at 90% loan.
Enjoy
Graeme
hey guys,
im looking to buy in the next 6 months and my plan is to borrow 100% using my fathers IP property as collateral, before you ask yes hes fine with it.
im going to be looking for something around the 200-240k mark i'd like a 3+2 house but in the area im looking (Dandenong and surrounding suburbs) i think i may have to settle for 3+1, i plan to live in it for 6 months to get the FHBG.
im aiming for a property that needs some work done so i can do something useful with it while i'm living there.
i have 20k saved to cover interest payment's and costs of the reno for the 6 month while im there as well as my daily job as an apprentice sparky
thoughts?
im looking to buy in the next 6 months and my plan is to borrow 100% using my fathers IP property as collateral, before you ask yes hes fine with it.
im going to be looking for something around the 200-240k mark i'd like a 3+2 house but in the area im looking (Dandenong and surrounding suburbs) i think i may have to settle for 3+1, i plan to live in it for 6 months to get the FHBG.
im aiming for a property that needs some work done so i can do something useful with it while i'm living there.
i have 20k saved to cover interest payment's and costs of the reno for the 6 month while im there as well as my daily job as an apprentice sparky
thoughts?
H o u s e .....
-Andrew
-Andrew
I seriously thought it would be units over houses, but there you go...
A unit in Holroyd council. Going halves with my sister. I don't need her assitance but she needed a place of her own to stay, within a year she had 2nd thought and surrender the unit to us. Bad purchase and reno decision as it has to accomodate my sister taste. Still live with the mistake, but it slowly improving its performance. Good rental income. Should be cf neutral this finacial year but not so good capital growth wise as the price has not move considerably.
Live and learn.
Live and learn.
A unit in Holroyd council. Going halves with my sister. I don't need her assitance but she needed a place of her own to stay, within a year she had 2nd thought and surrender the unit to us. Bad purchase and reno decision as it has to accomodate my sister taste. Still live with the mistake, but it slowly improving its performance. Good rental income. Should be cf neutral this finacial year but not so good capital growth wise as the price has not move considerably.
Live and learn.
Live and learn what?? If you have a cf neutral IP, I would consider you doing well...and CG is surely coming up if you hold it long enough....
Live and learn what?? If you have a cf neutral IP, I would consider you doing well...and CG is surely coming up if you hold it long enough....
Well, if I had my way, the property will be close to CF neutral from day one and won't need thousands of dollar renovating it. But, she ain't heavy, she's my sister.
