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New guy from Darwin

Discussion in 'Introductions' started by StueyW, 10th Aug, 2016.

  1. StueyW

    StueyW New Member

    Joined:
    10th Aug, 2016
    Posts:
    3
    Location:
    Darwin NT
    Hi everyone,

    Just signed up, i'm 35, been back in Darwin for 12 years in Electrical Contracting. We Bought our first 2 bed unit in Adelaide (modbury) as our PPR back in 2002, kept it as an IP and purchased 4 bed house in Darwin in 2004. We bought a block and built another 4 bed house in Darwin in 2012 as an investment property.

    I'm trying to get some ideas on joint purchasing land with a number of people to try and figure out the best way to approach the idea and see how it can work. However I will make sure I check out the whole forum so I can help to contribute where possible.

    Cheers,
    Stuey
     
  2. Foxdan

    Foxdan Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    115
    Location:
    Hills district, sydney
    Why do you want to purchase land with multiple people?
    And welcome to the forum
     
  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
    Hi Sturt, Welcome!

    Buying with others is generally a bad idea, aside from the risk to the relationship should anything turn bad, it can completely ruin your borrowing capacity moving forward.

    The only time I would consider this would be if you planned to do a project and sell the lot.