Hi all, I've been reading SS and PC for a while. I'm new to the property investment, hope to buy the fist IP in the next few months. Didn't post anything here as all questions I had have been asked and answered already (some of them a few times ), so I'm just keep reading and learning. Thank you for sharing your knowledge here!
You're all I've ever wanted Sorry guys, it's pretty hard to be creative with a subject of the intro post
Thank you, monalisa. Brisbane seems to be a place to go shopping at the moment. It's also easier for me as I live here. I'm going to buy and hold and see how it goes
Hi Erida Sounds like a plan What type of a property will you be looking to buy? What are your negotiables / non-negotiables?
Ideally I'd look for a house under $350k (can't afford higher price range due to serviceability and even $350k seems to be a bit challenging ). If it doesn't work I'll look at units closer to CBD or houses in cheaper areas.
Wait a sec.... you haven't bought an IP as yet but you say serviceability for even a $350k purchase is an issue? Have you run it past a good broker?
Welcome @Erida. You're in the right place. There's quite a bit of discussion about Brisbane at the moment, and a load of people buying and who have been buying there to share their thoughts and experiences. $350k is plenty to buy into the Logan or Morteon Bay areas. Quite a number of my clients are choosing to buy in the $300-$350k price bracket despite being able to purchase at much higher price points. Unless you want to spin your wheels for years, I'd avoid buying a unit near the CBD.
Yes, I have. Their advice was that $300k would be more realistic. So I'm saving as mad to stretch it a bit with a higher deposit. You probably would be even more surprised to know that we don't have any other debts, except of 1 CC with 5k limit on it The reason for the serviceability issue is 1 income while I'm on maternity leave + 3 kids. Such a shame to have quite a bit of equity in PPoR and not to be able to use it at the moment.
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