Hi
This is my first time online at property talk and a great site I might add.
I am currently going through growing pains as I am learning the ropes
so to speak about property investment. I am reading and studying everything I can to make sure when I do buy the first property that
it is a good investment.
The problem I have at the moment is that I am looking at houses as the bank has agreed to loan up to $220,000 for our first IP and the houses at
the moment where we live (Papakura) are not that cheap.
eg. 2 bedroom B&T flat in a block of 3 close to main centre.
Price: $189,000
rental return on this place would be $230 - $240per week
and the loan repayment would be about $270 - $280.
I am not sure if this is good as I have been reading on this website that
a lot of investers do not like to negative gear their investments.
Would love any advice as this is all new to me but I do realise the sellers
at the moment seem to have the upper hand when it comes to selling their properties as there are so many eager buyers at present.
Thanks
Patrick
This is my first time online at property talk and a great site I might add.
I am currently going through growing pains as I am learning the ropes
so to speak about property investment. I am reading and studying everything I can to make sure when I do buy the first property that
it is a good investment.
The problem I have at the moment is that I am looking at houses as the bank has agreed to loan up to $220,000 for our first IP and the houses at
the moment where we live (Papakura) are not that cheap.
eg. 2 bedroom B&T flat in a block of 3 close to main centre.
Price: $189,000
rental return on this place would be $230 - $240per week
and the loan repayment would be about $270 - $280.
I am not sure if this is good as I have been reading on this website that
a lot of investers do not like to negative gear their investments.
Would love any advice as this is all new to me but I do realise the sellers
at the moment seem to have the upper hand when it comes to selling their properties as there are so many eager buyers at present.
Thanks
Patrick
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