Where to from here

Discussion in 'Investment Strategy' started by Jaye Kershler, 10th Jan, 2017.

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  1. Jaye Kershler

    Jaye Kershler Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
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    Location:
    queensland
    Hi all I'm posting for a friend. He's in a great position in trying to get him into this forum etc

    He's 26 currently has a property on Sunshine Coast worth 350,000 with no debt and is rented for $380 a week

    He also has $275,000 in savings , he's on an income of 250,000 gross .

    His idea is he wants to make at least 1000 a week in passive income as soon as possible. So he can go sailing and work part time if he wants to.

    He has a low to medium risk threshold.

    I have tried to convince him property is a long term gain.

    The idea he has is to build 2 sets of Duplexes With approx debt of 900k and live of the rent of those and his Sunshine Coast property

    He currently still lives at home as he works a 28 day On 7 day off roster and no real need for his own property for most likely another 2 years
     
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  2. Jaye Kershler

    Jaye Kershler Well-Known Member

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    64
    Location:
    queensland
     
  3. Gockie

    Gockie Life is good ☺️ Premium Member

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    For him I'd keep all loans at 80%.
    Duplex plans sounds fine to me.
    With his income he should be able to smash it!
     
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  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Location:
    Canberra, Brisbane and Sunshine Coast
    I'd leverage against that existing IP - do a cashout up to 80% and use those funds to cover off the deposit/costs on subsequent IPs.

    With some careful planning - that sort of income and equity position could amass a decent size portfolio.

    Where on the SC is the property? Where is he looking to build?

    Cheers

    Jamie
     
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  5. Jaye Kershler

    Jaye Kershler Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    64
    Location:
    queensland
    Hi Jamie
    his sunshine coast property is based in nambour, that is also sub-dividable I forgot to mention. which he could build a small 3x1x1

    I don't even think he knows where he wants to build to be honest. obviously with a good yield and some decent growth to go with it
     
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