Hi All,
Slight Noob to investment properties, don't wish to make mistakes, why pay for the opinion of one advisor who may not know as much as the free opinion of many here
Placing an offer on 1981 B&T Duplex Pair on 1000sqm, separate rates, meters etc, asking price 400k for both (imo undervalued, elderly vendor, perhaps asset/income/pension/tax reasons).
Long-term tenants fearful their homes are about to get redeveloped (not in my short term plans) one 2004 other 2007, $220pw each, however elderly vendors haven't reviewed in 6yrs, comparable properties are ~$280pw.
Firstly, if yourself, how would you negotiate the O&A?
After lots of reading I'm considering proceeding in the following way;
Separate offer/acceptance for each
Separate variable loans with offsets for each
I have 20k cash avail, 170k redraw on 280k equity PPR ($30 owing).
Wondering if its best to payout the $30 closing the PPR loan, use its equity to borrow for both properties as investment loan (or 2 loans) with offset/s?
Or, would it be advisable to reduce the redraw on PPR to suit loan, keeping some backup for uncertainty's? (PPR would still be security)
Perhaps in 12mths have the IP's correctly valued, if possible redo the loan to have each property with separate lenders under individual equity releasing my PPR? (each lender would only have security/access to their loaned property)
I'm sure I'm missing something, getting late, appreciate any advise/feedback...
Cheers! (& thanks)
Slight Noob to investment properties, don't wish to make mistakes, why pay for the opinion of one advisor who may not know as much as the free opinion of many here
Placing an offer on 1981 B&T Duplex Pair on 1000sqm, separate rates, meters etc, asking price 400k for both (imo undervalued, elderly vendor, perhaps asset/income/pension/tax reasons).
Long-term tenants fearful their homes are about to get redeveloped (not in my short term plans) one 2004 other 2007, $220pw each, however elderly vendors haven't reviewed in 6yrs, comparable properties are ~$280pw.
Firstly, if yourself, how would you negotiate the O&A?
After lots of reading I'm considering proceeding in the following way;
Separate offer/acceptance for each
Separate variable loans with offsets for each
I have 20k cash avail, 170k redraw on 280k equity PPR ($30 owing).
Wondering if its best to payout the $30 closing the PPR loan, use its equity to borrow for both properties as investment loan (or 2 loans) with offset/s?
Or, would it be advisable to reduce the redraw on PPR to suit loan, keeping some backup for uncertainty's? (PPR would still be security)
Perhaps in 12mths have the IP's correctly valued, if possible redo the loan to have each property with separate lenders under individual equity releasing my PPR? (each lender would only have security/access to their loaned property)
I'm sure I'm missing something, getting late, appreciate any advise/feedback...
Cheers! (& thanks)