在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
When we came to Melbourne we rented out an apartment in Toorak. After a few years of living there and working as self employed in tiling.
We bought our first 4 bedroom house house in Melbourne, Altona Meadows.
Our mortgage: $324,000 Our interest rate is: 7.08 %
Land: about 500 sq m
Our monthly payments: $1834.00 per month
We currently live in this house and estimate the price to be around $400,000 to $700,000.
About a year ago we bought our first investment property in Werribee for $190,000 for a 3 bedroom house land of: 709 sqm
Our current mortgage: $160,000
Repayment of $860.00 per month
We stated in the contract with mancini real estate that we want to rent out the house for $300.00 per week to cover our mortgage and council rates and th utilities.
During the year we were always at the house and fully self renovated the whole house. We even did the gutters and even painter the exterior, put in nearly marble everywhere and new kitchen, 3 wardrobes and air conditioning.
Our other expenses include: We gave ins our Lexus IS 300 whcih was worth $74,000to the Peter Daveys Toyota and got a 2010 Toyota RAV 4 Edge for about$40,000 with a repayment of about $600.00 per moth and we also bought a 2010 Toyota Hiace LWB for about $30,000 with a repayment of $600.00 per month.
We are self employed in tiling earning about $120,000 per annum and spending everything that we earn, how ever for tax purposes we show that we make only about $40,000
Also recently I starteda digitl printing business and our equipment that we bought through RolandDG distributors cost us $40,000 and about $800.00 per month.
I am hoping to earn some money through this to help us out.
We buy a lot of food through supermarkets. But wishing to do property investing.
Rodion3028 said: ↑
We currently live in this house and estimate the price to be around $400,000 to $700,000.Click to expand...If it is $700,000, you can redraw equity for deposit of IP. But if it is $400,000 the it is not possible to get equity for new purchase, get valuation first.