Hi All
I have an opportunity to purchase my first IP property.
Here is the senario.
The properties (there are 2 on the one site) are for sale at
$410,000, they are brick & tile and about 4 years old. I
intend to make an offer below this, maybe $380,000.
They currently have a rental return of $595.00 per week.
The problem I face with my decision is that I am nervous about
the price and how much I am contemplating spending and also
the location is not what I would have liked to purchase. I realise
that I have to think like an investor and not have an emotional
attachment to these properties but am finding this very hard to do.
The vendor has told me not to worry about this fact of location but
who can be sure that he is saying just what I want to hear.
If there is anyone on this forum who could give words of encouragement
or any advice on what I should do.
Would be very well recieved.
Patrick
I have an opportunity to purchase my first IP property.
Here is the senario.
The properties (there are 2 on the one site) are for sale at
$410,000, they are brick & tile and about 4 years old. I
intend to make an offer below this, maybe $380,000.
They currently have a rental return of $595.00 per week.
The problem I face with my decision is that I am nervous about
the price and how much I am contemplating spending and also
the location is not what I would have liked to purchase. I realise
that I have to think like an investor and not have an emotional
attachment to these properties but am finding this very hard to do.
The vendor has told me not to worry about this fact of location but
who can be sure that he is saying just what I want to hear.
If there is anyone on this forum who could give words of encouragement
or any advice on what I should do.
Would be very well recieved.
Patrick
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