what's stopping you..

Nothing's stopping me but the global economy is a concern.

 

Fear.

Of the unknown. Of what I still don't know.

Of Perth's sliding prices.

But I'm reading the forum, magazines and keeping track of properties in a few suburbs. Visit home opens on Saturdays.

 

Maybe look at other states?

 

Focused on business for now (though APRA derailed my plans of buying more in the short term anyway).

I'll resume in a couple of years.

 

Have not come across any awesome deals or opportunities in the past few years.
Time poor too, building the biz.
Just waiting, watching, cashing up, ready to pounce when the time comes.

 

I'm pre-approved, LoC in place and actively making offers.

However, what concerns me is - the macro economy, the local economy (Brisbane); wages growth; the low interest rate environment; APRA lending restrictions; and that property investors are going to suffer under tax reform (federal and state) in the coming years.

 

Banks being tight asses

 

Currently refinancing existing portfolio to unlock deposit $

Feel like I'm in a holding pattern until its done. Up to my eyeballs in paperwork.

Once that's done, it's shopping time.

 

Really...?? Do you only look in a small geographical area?

 

No, I just don't look....

Not really been actively seeking anything, more waiting for something to happen.
I mean that in a good way, not like I won't take action if something I really like presents itself.
Just been busy and Stage 1 accumulation phase is complete.
Contemplating when to take it to the next level.

 

What changed your wifes' mind?

 

How have you been looking for mortgages? Through your existing bank or a mortgage broker? Are you actively looking at refinancing at the monent, or just fishing?

 

I

I see this problem at lot! What sort of strategy have you come up with? How much of a renovation are you looking at?

 

Do y

Do you do the reno's yourself or outsource it? How big are your reno's?

 

I'm interested, how much of the reno do you do yourself? How long does it take & what work did it need?

 

What do you still need to know before you will take the plunge?

 

The current strategy is keep looking at properties until we've seen everything and I want to hit myself in the head with a hammer.

Look at properties with renovation potential.

Look at empty land and consider moving a house on to it.

Keep saving our deposit.

It's quite frustrating actually. We saw one place that would virtually be taking the entire top of the house off and leaving just the floorboards and building up again. That's a serious renovation! We have up here this mix of souless poorly constructed kit homes and then decaying deceased properties.

The market is falling here too so we're not in too much of a hurry. Mainly tired of renting, can't paint a wall, all that emotional stuff.

 

I'm waiting for my wife to do some research of her own and get a bit more comfortable with the idea of property investing (at a larger scale than our current 1 IP) before telling her that due to APRA changes we may need to double our deposit, which will use almost all of our savings.

If I tell her that now it will all be over

 

Talk about timing..