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Discussion in 'Introductions' started by Phil_22, 28th Jul, 2015.

  1. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Hi,

    I've joined up to the forum after doing a fair bit of reading into Property Investment over the past month or so.

    I currently live in my our PPOR (is that right?) with my GF and my daughter.

    I work in the banking industry dealing specifically with loans so I know a fair bit about how loans are looked at, assessed, decisioned and structured.
    What I'm looking to do is start the process to purchase our first IP and look to duplicate as we go along.

    Look forward to learning a lot here.

    Cheers,

    Phil
     
    Chilliblue likes this.
  2. Samten

    Samten Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    275
    Location:
    Sydney
    Welcome aboard, maybe we can pick your brains as well.
     
  3. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Sounds good Samten I would be happy to share what I know
     
  4. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Hey Phil. Welcome mate!

    Where are you looking and what's the budget for IP1?

    :)
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
  6. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Hi Steven,

    I guess our budget is somewhere between $250K - $350K.

    We have not really started looking in detail however my GF is keen on one of the satellite towns outside a big east coast town e.g Sawtell out of Coffs Harbour or Lake Cathie out of Port Macquarie

    Cheers,

    Phil

     
  7. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Hi Jess,

    I work for Community Mutual Group its a credit union based in regional NSW with just over $1B in assets.

     
  8. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,578
    Location:
    Australia
    Hi Phil, good luck on your search. :)
     
  9. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Thanks Chilliblue its appreciated :)

     
  10. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Your budget gives you plenty of options. Thought about other areas (Bris, Melb, Adelaide etc)
     
  11. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Yep certainly Brisbane has been on my mind.

    We were in Adelaide 2 weeks ago for a short break and I couldn't believe the property prices down there. I see this morning the federal government is today making some announcements about job creating there so certainly some food for thought.

    I really like Melbourne as a destination however have did 0 research on the market there.

     
  12. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Lots of us are buying in Bris at the moment–certainly looks pretty good.

    Yeah, Adelaide prices are super low.. Hard to know what they'll do in the future. Lots of jobs have been lost recently.

    Good luck with the search!
     
  13. Phil_22

    Phil_22 Well-Known Member

    Joined:
    28th Jul, 2015
    Posts:
    86
    Location:
    Regional, NSW, Australia
    Thanks Steven.