Join Australia's most dynamic and respected property investment community

Hi from Sydney

Discussion in 'Introductions' started by Loverenting, 17th Nov, 2016.

  1. Loverenting

    Loverenting Well-Known Member

    Joined:
    16th Nov, 2016
    Posts:
    96
    Location:
    Sydney
    A few words to introduce myself:

    We came from overseas to live in Sydney in 2011 with no significant assets.

    Work full time as an engineer, wife also works full time as a pharmacy assistant.

    Have two school-age kids.

    Bought first IP in 2014, an OTP apartment in 2015 and the second IP in 2016. All are in Sydney (which does worry a bit). We have been renting for ourselves.

    I am still new in property investment and very keen to learn.

    Thanks.
     
  2. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,914
    Location:
    Sydney, Australia
    Sounds like you've done really well for someone who came here in 2011. What's worrying?

    Is 2016 purchase an OTP also?
     
    Loverenting and Tony Fleming like this.
  3. Loverenting

    Loverenting Well-Known Member

    Joined:
    16th Nov, 2016
    Posts:
    96
    Location:
    Sydney
    Thanks Ali, our both IPs are established houses. The OTP apartment (in Beecroft) is expected to settle end of next year. What's worrying is the time we enter the Sydney market has been most probably at or around its peak.
     
    Last edited: 17th Nov, 2016
    Property Twins likes this.
  4. Tony Fleming

    Tony Fleming Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    673
    Location:
    Sydney
    Welcome!
     
    Loverenting likes this.
  5. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,914
    Location:
    Sydney, Australia
    Reports suggest projected growth of 10% plus next year. Beecroft is a sought after location. Is there an oversupply where you are?

    Just make sure your lending is lined up. That's where people lose sleep with OTP.
     
    Loverenting likes this.
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,927
    Location:
    Canberra, Brisbane and Sunshine Coast
    Welcome aboard :)

    Cheers

    Jamie
     
    Loverenting likes this.
  7. Loverenting

    Loverenting Well-Known Member

    Joined:
    16th Nov, 2016
    Posts:
    96
    Location:
    Sydney
    Yes, we just hope Beecroft will be doing alright in terms of supply / demand. We don't see a lot of new apartments upcoming in the suburb (unlike in the case of neighbouring Epping).

    Totally agree with you wrt finance.
     
    Property Twins likes this.
  8. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    2,333
    Location:
    On a Capital Growth Safari
    My view of this is that at the moment, this is a relatively unique product for the area and it will do well. Beecroft is also a nice and leafy suburb. It is also a relatively quiet suburb compared to Epping (which many would prefer). Units also offer a lower cost of entry into the Beecroft market which would hopefully mean that finding buyers in the future would be straightforward.
     
    Loverenting likes this.
  9. Taku Ekanayake

    Taku Ekanayake Mortgage Broker @KinFinancial Business Member

    Joined:
    23rd Jun, 2015
    Posts:
    989
    Location:
    Sydney, Australia
    Whitecat likes this.
  10. Loverenting

    Loverenting Well-Known Member

    Joined:
    16th Nov, 2016
    Posts:
    96
    Location:
    Sydney