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How much do you pay for your IP's

Discussion in 'General Property Chat' started by balwoges, 9th Oct, 2015.

  1. balwoges

    balwoges Well-Known Member

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    Am interested in how much you pay for your IP's [houses] - over or under $500,000. If under $500,000 are you finding it harder to find properties or finance them and if over what is your rationale?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Most of mine are cheapies.

    Harder to find properties? Yes. There's a lot less cheapies around now than previously.

    Harder to finance? No not really. Good yield means IPs use up less of your serviceability each purchase.
     
  3. joel

    joel Well-Known Member

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    How do you go getting finance for sub $150K properties?
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Only one of them was under $150K, and that was the easiest one to finance I think. I did that one at 80% (most of my others have been at 88, 90, 95, etc) and it flew through. The loan was only for $117K so broker didn't get much commission, but he knows I'll be back for plenty more ;)
     
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  5. legallyblonde

    legallyblonde Well-Known Member

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    Less than 500k... I call it diversification! Well... I will when I have more than one ;)
     
  6. montoya

    montoya Well-Known Member

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    Sydney
    300-400k
    But only because we've purchased each as soon as we could with small deposits (30k-80k) as we felt buying cheaper sooner would be better than waiting longer.
     
  7. RetireRich101

    RetireRich101 Well-Known Member

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    I have never purchased a property over 500k or close to that value, yet 5 of them are now over 500k. Time really does it's magic.
     
  8. MTR

    MTR Well-Known Member Premium Member

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    I guess it would be dependent on where and what you are buying...State/location, median Syd is $1m
    as opposed to Perth $550, Melb, $680k, Brisbane $600k, Adelaide $400k.... and whether regional area, also product .. unit, townhouse, apartment
     
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  9. dabbler

    dabbler Well-Known Member

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    Same way as any other.
     
  10. Be Developer

    Be Developer Property Developer Business Member

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    @balwoges

    Few listed under $500k in western Sydney(postcode 2770)

    Not hard to find sub $500k property.

    Plenty in Brisbane
    Few in Melbourne
    Few in Sydney
    Overloaded stock in Adelaide (you may be able to pick 3 at that price range)

    Re: Finances

    Depends on personal circumstances /valuation/ restricted postcodes
     
  11. jins13

    jins13 Well-Known Member

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    Personally for me below $400k, unless the return or land is big.