NSW Introduction and help (Guidance)

Discussion in 'Where to Buy' started by Darren45, 12th Aug, 2021.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Darren45

    Darren45 New Member

    Joined:
    12th Aug, 2021
    Posts:
    1
    Location:
    Sydney
    Hello forum members,

    Hope all are staying safe and doing well. I have been on and off this platform from sometime now. You all are great people here who are ready to help others which makes this a blessing to new investors. Lot to learn from you guys.
    I needed your guidance if you all can be kind enough.
    I wanted to invest with the equity that I have got. My partner and I are on decent incomes and we have a house where we live in with a mortgage. I have spoken to a mortgage broker who got a valuation done for me. I can stay at 70 percent LVR and take out 200k as equity. He further did some calculations and said that I can borrow a further 600k. I have a few questions that I want you all to help me out with.
    1. Should I take out just half of the equity and buy only 1 property worth 400k with an expected rent of 380 to 400 per week or should I access all the equity and buy 2 properties. I am looking for cash flow as well as growth in the long term (Who isnt).
    2. Take 200k and buy a property worth 800k I know this can be negative.
    3. If i go with option 1 then where should I be looking at spending my money. 400k I am sure will get me nothing in Sydney. Regional NSW? If yes then where abouts.
    4. Should I be using a Buyers agent to help me out.

    Sorry if this has been long. I hope you all will give me your inputs.
    TIA

    Darren
     
    woocommerce likes this.