NSW Investing in Mt Druitt

Discussion in 'Where to Buy' started by David Shih, 21st Jun, 2015.

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  1. Daniel007

    Daniel007 Well-Known Member

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    If that's the case, what benefit does living in the same state yield to your property search if you still need to get educated? I understand it would be the first place you look for convenience sake but if you're aware that the market is hot, why not broaden your search to other areas where there is more potential upside in the short-mid term?

    It's normal to think you know our own area well, but in reality unless you're continuously researching what is happening with prices you won't REALLY know. That being said, local knowledge would definitely benefit when sussing out the good/bad areas of a suburb.
     
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  2. larrylarry

    larrylarry Well-Known Member

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    Have you looked at burbs surrounding Mt Druitt?
     
  3. fols

    fols Well-Known Member

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    Downright disturbing the people still looking to buy into GWS, or Sydney for that matter.
     
  4. sash

    sash Well-Known Member

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    Lambs to the slaughter....I am hearing that C the B and the A are about release their new lending policies by the end of the month.....the grim reaper commeth. :D
     
  5. skater

    skater Well-Known Member

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    They can damn well wait until mine's unconditional. :D
     
  6. sash

    sash Well-Known Member

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    I can hear them bleating....the door down. ;):D
     
  7. skater

    skater Well-Known Member

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    Nope! They are going to wait! After its unconditional they can do whatever they want. But not before!
     
  8. Gockie

    Gockie Life is good ☺️ Premium Member

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    This would be a good one for the Buyer beware section (if there was one).... sales from one PC member to another. No agent involvement. :)
     
  9. skater

    skater Well-Known Member

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    What? There is an Agent. Starr Partners. I already said that!
     
  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    Sorry, missed that!
     
  11. skater

    skater Well-Known Member

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    LOL! I thought you might have.:D
     
  12. roberto

    roberto Member

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    LeMU, buying in Mt Druid at the moment is high risk in my opinion. More experienced investors are either selling or revaluing their properties in the area to invest somewhere else.

    I would suggest to fly for a weekend to Brisbane and/or Adelaide to check what is available in your price range. There are good options for units closer to their CBDs with better rental returns and more potential for CG.
     
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  13. D'Mo

    D'Mo Well-Known Member

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    When you say 'more expirienced sellers are selling their properties in mount druitt' ...

    Would you say this is a good idea? and what would you do with the money?
     
  14. skater

    skater Well-Known Member

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    It depends on what your goals are. Unless you've got a place to put the funds, and a good reason for selling....why would you?

    We ARE selling, but that's because we're retiring, and we're not selling everything, not even everything in Mt Druitt, just select properties.
     
  15. D'Mo

    D'Mo Well-Known Member

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    If you sold, and paid the 'profits' off another property, would that make sense?

    Or invest into a different property a decent idea?
     
  16. skater

    skater Well-Known Member

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    Both of those are valid reasons but again, it all depends on your situation and what your goals are. Remember that when you sell, you trigger CGT, so holding might be better in your situation.
     
  17. D'Mo

    D'Mo Well-Known Member

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    Is there ways to avoid capital gains tax? If I was investing Into another property?
     
  18. Gockie

    Gockie Life is good ☺️ Premium Member

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    If you have a portfolio, prepay your interest expenses on the rest of your properties. But then it creates the problem that you have to keep prepaying your interest expenses each year until you either want to pay more tax or earn less money...

    Edit: You may be able to do something different if you have properties in a trust structure, i'm not a trust expert so get some advice...
     
  19. D'Mo

    D'Mo Well-Known Member

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    Argh sounds confusing lol wish it was as easy as selling and buying new property lol
     
  20. skater

    skater Well-Known Member

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    That's why your here though, isn't it? To learn.:D
     

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