All Forum Posts by: Steve Foulds

Good stuff mate!! I just found your reply, how did you go? For mine, buying apartments makes sense but obviously needs massive capital. I just think the market is so different here we have no choice to get in the market but with single properties either a family home outside the CBD or an apartment closer. But to support your original post, I am most interested in the metrics. i'll start going to the seminar spruikers soon and ask a lot of questions and not buy anything haha

Haha, agreed! Average total household income in my capital city (Melbourne) is $80k AUD ($57k USD ), a typical 3 bedroom family home 40km (25Mile) from the city is $500k AUD ($355k USD). Rent would be apx $340AUD /wk ($240USD).

Thanks for the reply! Unfortunately $1mil doesnt get you much in Australia (It's about $700k USD), be lucky to get more than 2x 2 bedroom apartments near a city haha! Definitely will look to latch onto some more mentoring. Thanks!

Gday - Ill try keep this succinct! My goal is to invest in multi-families, in Australia this mean 5+ residences on a single block to qualify for a commercial property loan. To build a deposit I've been investing in a single, diversified index fund. Im not really in a rush but have no need to wait either. I believe I have 2.5 options:

A) Keep adding to this fund over the next few years until it reaches $300k+ and qualify for a $1mil+ loan
B) Use $100k to buy a $500k single family home and use as future leverage for option A (Deposits <20% of property value incur an insurance fee of 1.75% called LMI) 

C) Use a 5% deposit/$25k for a $500k property, cop the LMI of $8500 but get in the market most soon and then leverage for option A

Which would you choose and why? TIA!

Im in the same boat mate - some of the metrics and principles from the US texts will carryover but at the end of day, we're different countries with different economics, restrictions, opportunities etc. I recently bought Grant Cardones real estate book and he talks about some of the things he looks for, but I am yet to create a spreadsheet and plug in Aussie properties for comparison. Keep me posted if you find anything!