IP House for $250,000, Suggestions ?

Discussion in 'Where to Buy' started by dxbpilot, 22nd Jun, 2017.

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

    dxbpilot Member

    Joined:
    20th Jun, 2017
    Posts:
    17
    Location:
    Dubai
    Hello,

    I'm new to the forum. I'm an aussie living and working overseas.

    The banks will only offer 60% mortgages these days so its tough coming up with 45% deposit.

    I'm looking to buy IP number 4.

    I currently have a

    -Unit in Dubai

    -House in Slacks creek

    -House in Toowoomba

    I've got the $112,500 for the deposit, so the big question is where in Aus right now to find a decent suburb for the $250k mark ?

    Im currently considering Ipswich, and Glenorchy in Tas.

    Thanks,
     
    dxbpilot, 22nd Jun, 2017
    #1
  2. See Change

    See Change Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,146
    Location:
    Sydney
    House Launceston ?

    You'll be struggling to find anything decent at Glenorchy under 250 . We couldn't when we were looking 6 weeks ago . Ended buying in Claremont for a bit under 270 .

    Cliff
     
    See Change, 22nd Jun, 2017
    #2
    Noobert likes this.
  3. Weaver

    Weaver Well-Known Member

    Joined:
    15th Aug, 2016
    Posts:
    69
    Location:
    Ballarat
    Ballarat?
     
    Weaver, 22nd Jun, 2017
    #3
    Toon likes this.
  4. Tony Fleming

    Tony Fleming Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    717
    Location:
    Sydney
    Depends on what you are looking to achieve and in what time frame? Adelaide, Brisbane, Newcastle and select regional NSW towns are going strong at the moment.
     
    Tony Fleming, 22nd Jun, 2017
    #4
  5. See Change

    See Change Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,146
    Location:
    Sydney
    Tony

    Newcastle has already moved up significantly in the current cycle so IMHO it way to late .

    Cliff
     
    See Change, 22nd Jun, 2017
    #5
    Tony Fleming and Sackie like this.
  6. Ace Ventura

    Ace Ventura Active Member

    Joined:
    6th Feb, 2017
    Posts:
    36
    Location:
    Australia
    Paralowie, South Australia. Can still get in for $250,000. 550 - 600sqm blocks.
    3 bedroom, 1 bathroom freestanding houses in a decent suburb with good schools, close to transport and shops.

    8 Mockridge Court Paralowie SA 5108 - House for Sale #125744238 - realestate.com.au

    55 Vincent Road Paralowie SA 5108 - House for Sale #125524906 - realestate.com.au

    4 McQueen Court Paralowie SA 5108 - House for Sale #125578598 - realestate.com.au

    340 Burton Road Paralowie SA 5108 - House for Sale #125764190 - realestate.com.au

    Could do worse.
     
    Ace Ventura, 22nd Jun, 2017
    #6
  7. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    It's still possible to borrow up to 80% LVR as an Aussie overseas. ;)

    Ace Ventura picked the exact area I was (and often) suggest - good balance of cost vs quality and yield.
     
    Corey Batt, 23rd Jun, 2017
    #7
  8. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,392
    Location:
    Sydney
    Agree with Doc's observation.
     
    larrylarry, 23rd Jun, 2017
    #8
  9. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    why not another in Dubai?
     
    hash_investor, 23rd Jun, 2017
    #9
  10. dxbpilot

    dxbpilot Member

    Joined:
    20th Jun, 2017
    Posts:
    17
    Location:
    Dubai
    Thanks for all the advice.

    Plan is to buy and hold for the next 10-15 years with neutral gearing.

    I will check out Paralowie !

    The banks that will lend 80% finance apply Australian tax to my untaxed salary for their calculations so that's a no go. If you know of any that don't please let me know.

    In Dubai any second mortgage is only allowed to be 50% of the value. That limits me to units. I'd rather buy houses with land.

    Cheers !
     
    dxbpilot, 23rd Jun, 2017
    #10
Buy Property Interstate WITHOUT Buyers Agents!

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia