Hello everyone, so glad i found this forum!

Discussion in 'Introductions' started by ESL_M, 5th Oct, 2016.

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  1. ESL_M

    ESL_M Member

    Joined:
    30th Sep, 2016
    Posts:
    13
    Location:
    Sydney
    Hi All,

    I got to here from Somersoft and am glad to read some many informative discussion!

    I've been trying to figure out our property investment strategy for a while but i'm getting no where at the moment, I would like to have some advices and learn something from all of you.
    our situation:
    We are both working overseas and planning to return home Sydney next year;
    Currently we have two properties in Sydney, estimated value $3m and both tenanted,
    LVR around 30%,
    Two young Children

    Goal: to build a a healthy IP portfolio while we are at highest level serviceability
    How to make the next investment right so that we could change the life style - spend more time with kids and do less stressful work, had enough:):)

    I have been looking in Brisbane for a while as we don't mind live there and keep the Sydney properties as investment, fully draw the loans we could live in a mortgage free home and still have some capital to invest.

    How to balance positive cash flow and Capital growth potential - if we return to OZ, we most likely reduce income next year.

    I have so many questions and don't want to pour them all out to you here in my first post. It would be truly appreciated that you could share your experience and your view with us.
    .
    Thank you in advance

    Cheers
    M
     
    ESL_M, 5th Oct, 2016
    #1
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  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
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    Location:
    Australia
    Sounds like you've done really well with your Sydney properties. Where have you purchased M?
     
    Property Twins, 5th Oct, 2016
    #2
  3. ESL_M

    ESL_M Member

    Joined:
    30th Sep, 2016
    Posts:
    13
    Location:
    Sydney
    it was pure luck, both in upper north shore before 2011 - both done up, it was quite rewarding
     
    ESL_M, 5th Oct, 2016
    #3
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  4. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
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    Location:
    Australia
    Sounds like ACTION more than Luck. Luck is when preparation meets opportunity :)
     
    Property Twins, 5th Oct, 2016
    #4
    Tony Fleming likes this.
  5. Tony Fleming

    Tony Fleming Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    717
    Location:
    Sydney
    Welcome to PC. LVR at 30% at that value is quite healthy :)
     
    Tony Fleming, 5th Oct, 2016
    #5
  6. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,220
    Location:
    Melbourne, Australia
    Welcome @ESL_M :)

    That's a solid position you're in.

    Remember that if you use those properties as IPs (investment properties) and draw equity to purchase a home for you to live in, the mortgage interest on those funds would not be tax deductible.
     
    JacM, 5th Oct, 2016
    #6
  7. ESL_M

    ESL_M Member

    Joined:
    30th Sep, 2016
    Posts:
    13
    Location:
    Sydney
    Thanks for the info, Jacqui, really? the funds are sitting in offset a/c, ;even we refinance the loan when we purchase our own home? need to check with my accountant
     
    ESL_M, 5th Oct, 2016
    #7
  8. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,220
    Location:
    Melbourne, Australia
    Withdrawing money from offset is different to drawing on equity :)
     
    JacM, 6th Oct, 2016
    #8
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  9. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World

    Welcome
    You certainly took advantage of the Syd Boom cycle, brilliant... 2 properties worth $3M, I think we could learn from you.

    .

    MTR:)
     
    MTR, 6th Oct, 2016
    #9
  10. ESL_M

    ESL_M Member

    Joined:
    30th Sep, 2016
    Posts:
    13
    Location:
    Sydney
    Thanks all for the welcome, i guess every house owner of Sydney have done well in the past 2-3 years.

    So what next? Please give me some direction, I'm looking to buy 1-2 properties in next 6 months & hold for long term capital gain.
     
    ESL_M, 6th Oct, 2016
    #10
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