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The name is Ha55sh

Discussion in 'Introductions' started by ha55sh, 4th Jan, 2017.

  1. ha55sh

    ha55sh Member

    Joined:
    15th Jul, 2015
    Posts:
    6
    Location:
    Sydney
    Hello PC members,

    Happy New Year to all!

    My name is Hash and i am from Sydney (Parramatta).

    Today i am here to get some expert advise on purchasing a property.

    Please let me know the best way to get idea's and opinions based on our current situation.

    Thanks
    Ha55sh
     
  2. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Sydney, Australia
  3. ha55sh

    ha55sh Member

    Joined:
    15th Jul, 2015
    Posts:
    6
    Location:
    Sydney
    The primary desired outcome is to make a lot of money and build a generous portfolio of properties.
    We are currently looking at PPOR. The unit we currently live will become an IP once we find a PPOR.

    The situation:

    1 current PPOR in Parramatta - 2,1,1
    1 current business in Penrith Region.

    Initial intention was to either buy in Quakers Hill, Pendle Hill, Toongabie as we cant afford Parramatta & Westmead.

    Looking at the potential areas (Quakers, Pendle hill and Toongabie) we are kind of thinking to go a bit further west and look at buying around Silverdale, Mulgoa, Jamisontown etc. where there could possibly be the next property boom plus its closer to the business and we can possibly own a larger block of land which could potentially be subdivided or have a granny on etc.
     
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  4. ha55sh

    ha55sh Member

    Joined:
    15th Jul, 2015
    Posts:
    6
    Location:
    Sydney
    Need some advise on where to buy, whether to buy now or wait and an easiest possible way to have a secondary income from PPOR.
     
  5. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,724
    Location:
    Sydney, Australia
    Good stuff....

    Parramatta satellite suburbs for a 550 to 600 sqm block you're looking anywhere between 800k and1.2mill for a 3br old clad / brick home...depending where you buy. Positive about the region ourselves. Built recently as well. I see great mid to long term prospects.

    I created a Parramatta satellite suburbs thread a number of months ago to discuss the same
     
  6. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,724
    Location:
    Sydney, Australia
    Depends on your needs. If you definitely need a home then I'd buy. Also consider tax implications of keeping original PPOR as an IP...
    Have you been paying it down?
    Has it grown significantly?
    What about the Capital Gains Tax benefit?
    How does the current loan impact your tax deductibility? Talk to your accountant
     
  7. ha55sh

    ha55sh Member

    Joined:
    15th Jul, 2015
    Posts:
    6
    Location:
    Sydney
    Yes we need a larger home unless we rent. I dont think it might be a good idea to "rent to rent"?
    Yes we have been paying it down.
    It did go up significantly in a very short time since we bought it in 2014.
    We hv used the equity into the business, interest of which is tax deductible.
    We are currently in discussion with one of the big four's which is offering 90% lending against your property of all bank staffs without paying the LMI. If we can work something out then the intention would be to borrow maximum against this unit and reap the tax benefits?
    Dont know if we are headed in the right direction as people of this forum may have a completely different view?
     
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