Hi from Newcastle

Discussion in 'Introductions' started by Savy mum, 15th Apr, 2017.

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  1. Savy mum

    Savy mum Well-Known Member

    Joined:
    6th Apr, 2017
    Posts:
    76
    Location:
    NSW
    Hi everyone,
    I'm looking to buy an Investment property, well one day. Hubby is an operations manager and I am a sole trader (home cleaning business). Unfortunately some banks don't like me as I don't have PAYG so that can make things a bit difficult.

    Hubby has absolutely no idea about researching this and will go along with anything I say as he wont do any homework, ggrrrr, so if I make a mistake, it falls on me.

    I've spoken with 2 different brokers and been to a seminar in the past week. I still have no idea where to go. One broker was suggesting Logan area near flood area (yeah right) another broker was recommending a town house OTP. I love the town house one but I've read so much about OTP. He did mention a 6 month settlement, but I still have no idea.

    I'd much rather but the house next door so I can spy on them lol.

    See you in the forums!!
     
  2. Archaon

    Archaon Well-Known Member

    Joined:
    20th Mar, 2017
    Posts:
    1,896
    Location:
    Newcastle
    Was the seminar with JDL by chance?

    Not sure about a townhouse for a first IP as it's the land that grows in value and increases CG.

    I'm new here also and hopefully one of the move experienced investors can help you also :)

    Regards,
    Arc
     
  3. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Nice to meet you arc,

    First rule don't take advise from a broker recommending where to buy an ip.

    There is enough information on this forum for you to make good investment decisions. Newcastle's a small place and is getting close to the peak of the market so defiantly worth while looking further afield.
     
    Jamie Moore and Archaon like this.
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    I hope the second broker wasn't receiving some sort of kickback for that recommendation.

    Agree with Tom above - it's not the brokers place to advise on where to invest. Their expertise is in getting you the money via the most appropriate structure for your individual circumstances.

    Cheers

    Jamie
     
    Last edited: 15th Apr, 2017
    Savy mum likes this.

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