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?
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.
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
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.
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.
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
@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
