Join Australia's most dynamic and respected property investment community

Hi from a Sydney newbie

Discussion in 'Introductions' started by browntiges, 18th Jul, 2015.

  1. browntiges

    browntiges New Member

    Joined:
    18th Jul, 2015
    Posts:
    4
    Location:
    Sydney
    Hi all, I've just stumbled across this forum in my quest to find a decent broker who specialises in property investment financing. There seems to be a wealth of knowledge within these pages so I've signed up in the hope of learning about property in a more structured way, so far it has been more by luck than design!

    Hubby and I have been investing since 2008, but I still consider us fairly new to the game...we have some idea of where we are heading (ie to not work in corporate jobs for the rest of our days, hubby to retire in 10 years time) but no real plan of how to achieve this - we think our strategy is currently buy and hold, and hope for the best...

    The story so far:

    2002 2bed unit in Willoughby NSW $325K, valued 2014 $800K, rented $575/wk
    2008 3bed townhome in Belrose NSW $772K, valued 2014 $1.1m, rented $870/wk
    2008 2bed unit in Coffs Harbour NSW $145K, valued 2015 $173K, rented $240/week
    2008 2bed unit in Coffs Harbour NSW $198K, valued 2014 $220K, rented $260/week
    2011 4bed house Belrose NSW $945K, valued 2014 $1.5m, PPOR
    2015 3bed townhome, Balmoral QLD $675K, rented 650/week

    We dipped our toe into the Brisbane market earlier in the year and are waiting to see if this was a good idea (we don't know Brisbane well but wanted to diversify, and Sydney prices are crazy). While we'd like to continue accumulating IPs (still looking at Brisbane currently), our serviceability is becoming a problem as we have all of the properties financed with one of the Big 4 banks, and even with no LMI and good equity in our portfolio, the bank is becoming increasingly difficult.

    We're also interested in small development (hubby has a construction background and would like to partner with/become a developer) so looking forward to reading the success stories on this site from those who have gone down this path.

    Cheers
    browntiges
     
  2. Gibson

    Gibson Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    109
    Location:
    Sydney
    Welcome aboard, that's an impressive portfolio you have there. browntiges. All the best for your next steps, feel free to contribute and hope you get some value out of listening to such diverse views and experience of the very helpful PC community
    Cheers
    Gibson (relatively new myself)
     
  3. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,839
    Location:
    Brisbane
    From what you've described, your latest 3 bed Balmoral for 675 will be a great cg play.