NSW FHB first mistake?

Hi TREK

First talk to one of the mortgage brokers on the forum to see what you can borrow .

70 k is a reasonable deposit for a cheapie in brisbane .

Btw , Logan and a few others are about to boom

cliff

 

Yes I'd live in and do it up. I have a friend she happy to help and pay rent at the same time. Which is a plus. To generate extra income for that unexpected cost that pops up I can fall back on my casual line of work to speed generate some new funds

 

Thanks cliff, yes I've been reading that thread on logan and surrounds.
Do these brokers offer free advice here on this forum or is there a nominal fee?

 

Mmmm King Street Boulder. Long way from anywhere in town. Would have sold for $90k in late 80s. Property outside still looks like when I visited houses there in the 80s. Had money spent on kitchen ect nice shed . Lots of land in Kal so big blocks don't mean value. $200k buys a lot in Kalgoorlie or even ones North of main street Burt St of Boulder eg Wittenoon street

Nothing in Kambalda. Lots was built in 70s and was crap in the 80s. You end up having to go to Kal for everything anyway

I was thinking about this earlier in the year. Much newer side of town. Kal also has public transport/buses

15a Carroll Place, Hannans, WA 6430 https://www.realestate.com.au/sold/property-house-wa-hannans-133818886


This one has a granny flat out the back and laneway access 91A Wittenoom Street, Boulder, WA 6432 https://www.realestate.com.au/property-house-wa-boulder-135909142

 

there’s a forum for finance . Put all your details in a post there and you’ll probably get responses . There are several brokers in the forum who have been members for many years . At least 20 in one case . There are several members who have gone into broking due to their interest in investing and wanting to develop a career in a related field .

cliff

 

36 years old with 20 years building experience to boot and willing to travel to find prop to fix, in an appreciating prop market! You can do really well out of this if you keep yourself firmly planted on land for a few years and go around non-stop finding prop with potential to fix, renting/ flipping and building equity. Time is still firmly on your side and prop gods are aligned with one of the biggest boom cycle starting out!

Good luck

 

Thanks Harris, some positive words there.
I'm debating to get a perm job currently and borrow from bank to get into growth like all this talk on logan and surrounds booming or just start out now buying cheap out regional and flipping and renting.

I think my skill set would favour the latter and I think there's more fixer uppers in the country than Brissy greater.
Either way will definitely be an experience that's for sure

 

Lots of fixer uppers in brisbane , in the Logan , goodna , ipswich area

Either standard 3 bedders or occasional stylish run down Queenslanders .

cliff

 

True true cliff but I'm worried after working for 6-12 months for a loan those options would have dwindled and a lot of the good stuff gone at a good price.

Country cheapies can be had now for the position I'm in. The only downside i can foresee is once there ready for market you're a sitting duck waiting to be sold with no funds coming in.