Hi everyone,
I'm a (relatively) long term lurker, but brand new poster. Here is my situation:
I am 26 years old and currently own 2 IPs
(1). Bought as a house and land package (2bdr, 1bthr, single story) 8km from Adelaide centre in a new housing estate, no capital growth as yet as no others have sold other than the H&Ls still on the market. (1) was part of the government scheme for low income earners so was worth more than I bought it, and I lived in it for just over 6 months as my PPOR. I am currently getting 5.71% back in rental yield (lease until Jan 2013) and am getting good tax benefits from it.
(2). Another house and land package currently under construction (3bdr, 2.5 bthr, 2 story) approx 20km from Adelaide CBD. I have a guaranteed rental return of 5.21% for 2 years once the construction is finished (approx August).
Although I have not seen capital growth in either (1) or (2), I expect that things will start moving once the estates sell out (3-5 years), and am happy to wait. I have quite a good serviceable income, especially when (2) starts bringing in income.
I have saved up $50,000 in equity on the two properties thus far (including the FHOG and other monies I have paid off the principles), meaning I have $200,000 in workable capital (with 20% LVR and 5% for fees).
I really want to get my portfolio moving again, what would you recommend as my next move?
I'm a (relatively) long term lurker, but brand new poster. Here is my situation:
I am 26 years old and currently own 2 IPs
(1). Bought as a house and land package (2bdr, 1bthr, single story) 8km from Adelaide centre in a new housing estate, no capital growth as yet as no others have sold other than the H&Ls still on the market. (1) was part of the government scheme for low income earners so was worth more than I bought it, and I lived in it for just over 6 months as my PPOR. I am currently getting 5.71% back in rental yield (lease until Jan 2013) and am getting good tax benefits from it.
(2). Another house and land package currently under construction (3bdr, 2.5 bthr, 2 story) approx 20km from Adelaide CBD. I have a guaranteed rental return of 5.21% for 2 years once the construction is finished (approx August).
Although I have not seen capital growth in either (1) or (2), I expect that things will start moving once the estates sell out (3-5 years), and am happy to wait. I have quite a good serviceable income, especially when (2) starts bringing in income.
I have saved up $50,000 in equity on the two properties thus far (including the FHOG and other monies I have paid off the principles), meaning I have $200,000 in workable capital (with 20% LVR and 5% for fees).
I really want to get my portfolio moving again, what would you recommend as my next move?