I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
It's not an issue. You have a strong income, your loan should service without any rent coming in.
As long as your credit file is good, you don't have existing high personal debts, and you have at least a 5% deposit then you should be able to buy that 3 bed house in Perth.
If you are a FTB then make sure you tell the bank it's an investment house, then you can still get the FHOG when you buy a house to live in. The investment purpose will increase the cost of your money, but there are some lenders offering good rates for investment loans if you look.
Lenders will be carefully scrutinising loans for Perth properties, but there are no specific restrictions for Perth.
Take risks - if you win you will become wealthy, if you lose you will become wise
It's not an issue. You have a strong income, your loan should service without any rent coming in.
As long as your credit file is good, you don't have existing high personal debts, and you have at least a 5% deposit then you should be able to buy that 3 bed house in Perth.
If you are a FTB then make sure you tell the bank it's an investment house, then you can still get the FHOG when you buy a house to live in. The investment purpose will increase the cost of your money, but there are some lenders offering good rates for investment loans if you look.
Lenders will be carefully scrutinising loans for Perth properties, but there are no specific restrictions for Perth.
I am just starting to look, any specific area in mind?
I am just starting to look, any specific area in mind?
My comment was specifically about finance, a topic on which I have some knowledge.
However I don't know Perth that well and I don't feel confident in giving you advice on where to buy. You should seek some advice from those here who do know Perth well, but I warn you that there are some quite weird people on here from Perth. You will get a range of views including some that won't make any sense at all. You'll have to filter that advice yourself.
Take risks - if you win you will become wealthy, if you lose you will become wise
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
Hey lonewolf,
I work mainly on the internet.
I have found that as long as i can connect i can be anywhere in the world.
So if as you say your are in I.T. why do you need to be in any geographical location????
Peter
lonewolf
2 Oct 2016, 11:31 AM
I am just starting to look, any specific area in mind?
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
Hi we have a diverse market in Oz and those entry level property prices vary widely in each state, cities and burbs. One thing I was always taught is to seek out locations where prices are below the broader market median yet do have good prospects for the CG.
My experiences include the following locations which I do know just about every street and infrastructure, council coding....West and North Perth, Ballajura Joondanna, Maylands, Dianella, these are the locations which $ has been allocated.
The choice of locations is up to you.
If you don't like the hustle bustle of the city, choose a good middle burb, for eg. for one investment I did develop in Dianella a 1014sqm block can be subdivided.
Scarborough, Victoria Park, Como, North Fremantle, Mosman Park, Glendalough, Mount Hawthorn, Burswood , Kings park/West Perth, East Fremantle, Fremantle, Maylands and Leederville/West Leederville... pick your poison. All close to infrastructure. Bayswater is close to river, rail and the airport, no not near beach but. Heathridge is close to the train line and close to beach, still affordable likely to be rejuvenated through renovation and development. Be careful with Canning Vale ... sections of the burb have planes flying from Jandakot and the airports flight path.
The Northern Coastal beachside burbs like Ocean Reef, Burns Beach have been popular with South African and English migrants.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
If you "work in IT", and don't know what you're worth outside Sydney or what opportunities are available, it might be a good idea to stay in Sydney.
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
I wouldn't do it myself.
Employing someone else to buy a house in a city you are not familiar with is fraught with danger.
At the very least, you should use your annual leave to come here for three or four weeks to check out possible suburbs and do a few viewings.
Burbs that fit your criteria (near to station, $400k 3x2, 45 minutes from city) would be either Rockingham down to Mandurah in the south or Burns up to Alkimos in the North. The places in between (closer to the city and near the beach) are way too expensive for your budget in the north and industrialised in the south (Henderson down to Kwinana).
General rule of thumb in beachside suburbs is that every 1/2km inland from the beach knocks about 10% off the price.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
It would be less hassle just to buy land. No return I know, but potentially greater capital returns, and you don't have to worry about maintaining the property.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
As with another comment tonight you can apply yourself to this Dilbert cartoon.
Again Dimshit is the pointy haired boss and newjez is Dilbert. You get the brown shirt.
newjez
2 Oct 2016, 07:17 PM
It would be less hassle just to buy land. No return I know, but potentially greater capital returns, and you don't have to worry about maintaining the property.
I see three issues with your proposition:
1) None of the income 2) All of the costs 3) "and pay it off as much as I can and then move there" would imply he wants something to live in at that particular moment
lonewolf
2 Oct 2016, 09:36 AM
I am a sydney bear, however recently I'm thinking i'v put all bets on a possibility of crash , which will happen but I can't wait for eternity.
I am the single owner in IT earning 150K+ base salary + bonus now and Perth seems to have very little job opportunity for IT. I am thinking about buying something around 400K mark in there with a view to rent it for next 5 years (bad rent situation, but I can NG) , and pay it off as much as I can and then move there? I can take a much lower paying jobs without the burden of a million dollar mortgage.
Pert experts, which area should I be looking for a small house 3 bed , 2 bath , around 350-400 sq meter place ? Needs to be close to train stations and within 45 mins of train to City and closer to nicer beach ? How would you do it without making 10x trips to Perth for property inspections ? Is there a buyers agent I can talk to about this? How hard is it to get financing for Perth?
I would compromise proximity to beach for city and you can do well.
I would also not sell your earning capacity in Perth short. Our IT Manager earns $225k per annum salary plus benefits (excluding super). I have mates working Rio, BHP, Chevron and FMG in IT earning more.
There is money to be made in Perth irrespective of what the clueless claim.
Smart money is to buy something in Perth that covers your Sydney rent. If you then pump the difference into your mortgage here you get the exact scenario that you are looking for.
If you do that between Karrinyup Road to the north and Leach Highway to the south you will be fine. Cap that to the Graham Farmer Freeway or Tonkin Highway to the East and no matter what you buy it will not crash.
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