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G'day from New Investor

Discussion in 'Introductions' started by pj79, 5th Aug, 2015.

  1. pj79

    pj79 Member

    Joined:
    30th Jul, 2015
    Posts:
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    Location:
    Sydney
    Hi all,

    I was referred to this site by a mate of mine who has been investing well over the last few years and I have to say it has been great reading through the many posts and forums. Excellent information on here.

    I started investing at the beginning of last year after setting up a SMSF with my wife. We purchased a property in Portland, VIC which is currently rented. We have also tapped into the equity out of our PPOR and are currently building an investment property in Leeton , NSW which is scheduled to be completed in September.

    We are excited to see where this investment journey will take us and hopefully set us up for an early retirement. Fingers crossed!!!!

    Looking forward to learning heaps from all the savvy investors/brokers on here.

    Cheers

    Pete
     
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  2. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
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    2,458
    Location:
    Sydney & Gold Coast
    Hey Pete,

    Welcome to the forum.

    Leeton is an interesting choice. I spent the first 5 years of my life near there. What are you building there–house, units? And what made you choice the area? :)
     
  3. Tom Howes

    Tom Howes Active Member

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    Location:
    Sydney, NSW
    Welcome pj79. I am sure you will learn lots.
     
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  4. pj79

    pj79 Member

    Joined:
    30th Jul, 2015
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    Location:
    Sydney
    Hi Steve,

    Thanks for the welcome.

    Wife and I are building a 3 bedroom house on 1200m2 block. We decided on Leeton as we did a bit of research along with advice provided by our trusted financial adviser and found that it was a good place for us to start investing outside our SMSF. Plenty of good industry in Leeton and more investment in agriculture, along with other factors we decided that we would give it a crack there. We plan to hold this for the long term.

    We would like to invest a bit closer to Sydney but I don't think it's the best time to buy. we are thinking of looking in Adelaide and/or Brisbane in the near future.

    If you don't mind me asking, what and where have you invested in?

    Regards

    Pete
     
  5. pj79

    pj79 Member

    Joined:
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    Location:
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    Thanks Tom!!
     
  6. Chilliblue

    Chilliblue Well-Known Member

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    Welcome Pete. Leeton is on my radar so interested in your post.
     
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  7. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
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    Location:
    Sydney & Gold Coast
    I have a few apartments in Sydney's inner west (Marrickville), and am about to settle a house in Brisbane. All within 10km of their respective CBDs. I'm much more comfortable in big cities than regional areas.

    What were the other factors that drew you to Leeton? I am very curious as I have a relative who lives there and have looked into the area out of curiosity and I didn't see much I liked so maybe I missed something :)
     
  8. pj79

    pj79 Member

    Joined:
    30th Jul, 2015
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    Location:
    Sydney
    I guess when we started looking at Leeton we saw that the vacancy rate for rental was quite low. I think it was around 0.03% last 12 months and I think it's now around the 0.16%. The Gross rental yield while only at about 5.5% i think is ok for regional place and the fact that there is a lot of agriculture in the area which appears strong it just seemed good for us. We are hoping for $330-$340 week rent comparable for the size of the house and others similar to it.

    I agree with sticking to big cities, however we only have knowledge of Sydney area which is fairly pricey atm and weren't overly comfortable in investing interstate until we did some solid research to make sure we were confident in buying in those areas. I have seen a lot of discussion regarding brisbane and a few of my friends have or are soon buying up there so I hope to look into it soon.

    Cheers
     
  9. pj79

    pj79 Member

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    30th Jul, 2015
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    Location:
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    Thanks Chilli, happy to discuss Leeton.
     
  10. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Location:
    Sydney & Gold Coast
    Thanks for the insights Peter :)
     
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  11. pj79

    pj79 Member

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    Location:
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    No problems Steven.