New investor from Sydney

Discussion in 'Introductions' started by Kishore, 13th Jul, 2019.

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  1. Kishore

    Kishore New Member

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    13th Jul, 2019
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    Hi Guys,

    I'm Kishore and I'm new to investing and new to the community.

    I've just started researching for my first investment property and still deciding on strategies and suburbs. I was thinking of paying for 62 per month investment reports from CoreLogic or buy one of reports 99 each to start off with.

    Anyone have any experience with these? Are these worth it?

    Any pointers would be greatly appreciated.
     
  2. skater

    skater Capitalist -- www.skatepro.com.au

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    In all honesty, you don't need to spend money on reports, there's a lot of info (for free) on this site.
     
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Welcome aboard :)

    Do you have a mortgage broker? If so - hit them up for some reports - most have access to desktop valuations.

    Cheers

    Jamie
     
    ellejay likes this.
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    some brokers and bankers have access to the full RP data suite........... so that will same you some bcuks if yours does

    Are you going to go it alone for property selection or using a BA ?

    ta
    rolf
     
  5. Trainee

    Trainee Well-Known Member

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    First step is get a mortgage broker.
    Once youve narrowed it down to rough areas, have a solicitor and building inspector ready to go.

    THEN start seriously inspecting.
     
  6. Property Twins

    Property Twins Finance Strategists Business Member

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    Hi Kishore
    As suggested, have a broker on your team. They will likely have access to RP Data or Price Finder reports they could provide you with as you go through your search.
     
  7. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    They're called mortgage "brokers" because investing with debt will send you to the wall
     
  8. skater

    skater Capitalist -- www.skatepro.com.au

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    I'm not sure where this opinion came from, but speaking from personal experience (living off of investments), we'd be nowhere without our broker. The use of leverage will magnify your returns....good or bad. Just make sure you are educated.
     
    Gunky likes this.
  9. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    At least you acknowledge that debt will get you creamed in a falling market, possibly bankrupted. Or maybe interest rates will fall by another 1650 basis points
     
  10. skater

    skater Capitalist -- www.skatepro.com.au

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    That is not what I said.
     
  11. Kishore

    Kishore New Member

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    Thanks all. @skater @Rolf Latham @Property Twins @Jamie Moore.

    Thanks for all the great insights and sorry for the late reply.

    Yes, I've a mortgage broker. Never asked for reports from him though.

    I've started looking into buyers agents as well. Most of them seem to come with a set of preferred suburbs. I just wanted to have a set of independent reports to double check them. Most of them seem to prefer buying in Logan Council area in QLD when I asked about positive cashflow properties. I was hoping to find a good compromise suburb where I can target cashflow now and long term capital growth.

    Happy to shell out some money to get the reports if they are worth it. But I will start with asking my agents first.

    If I'm not mistaken, @Rolf Latham was my first mortgage broker years ago. It's a small world :)

    And any opinions on buyersclub.com.au?
     
    Gunky likes this.
  12. Trainee

    Trainee Well-Known Member

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    Dont restrict yourself too much. When did you last see positive cashflow in sydney?