Suffering analysis paralysis!!!

Jess Peletier · 15th Mar, 2017

Neitz said: ↑

Hi, I'm new to this forum but just looking for a pointer in the right direction here as my husband and I are going around in circles. We are 37yo looking to start an investment portfolio for retirement purposes. We have $270k in combined super and a house bank valued at $750k ($450k owing) and combined income of $190k. We've attended a multitude of property seminars (flippers/holders/renovators etc) and have decided we are looking for long term capital growth in neutrally geared (or almost) properties. This has led us to signing up with a buyers Corp who are recommending off the plan townhouses/villas in regional nsw (moonee beach near coffs harbour and wauchope near port macquarie) for the purpose of having great tax deductions and steady capital growth (aiming for min 5%). We are also looking at setting up a SMSF. My concerns are obviously they have a vested interest in the properties they're selling so are we paying too much? ($429 for 3bed/2 garage), should we buy a house rather than a villa/townhouse? Has this area of regional nsw peaked? Pop'n growth predictions indicate an increase and both have a multitude of industries supporting employment. Is it preferable to stick to melbourne sth eastern areas house and land packages??? (We know this area) should we aim for some cash positive properties to offset negatively geared ones perhaps closer to a capital city? Should we buy an existing house and try manufacturing equity? (Bear in mind we have 2 young kids) how do we find a truly independent property adviser?? Im starting to feel pressure from this buyers agent and I know this isn't ideal. Any ideas would be welcome, thanks.
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A buyers agent that recommends OTP generally is more of a sales person than a buyers agent. There's a risk that the valuation will come in low on this so be very careful.

Have you looked at what existing similar properties are currently selling for?

My tips would be to do some research into the market you're buying, get an idea of what similar properties are currently selling for (actual sales, not listings), and use your own broker and solicitor. And if the buyers corp is getting a sales commission I would use someone more independant to help you source the property. They should be getting nothing from the seller of the property at all. Most independant BA's charge in the $10k mark for their services.

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Suffering analysis paralysis!!!

Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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Suffering analysis paralysis!!!

Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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