Perth Suburbs, Deposit Sizes, Listing Prices | Property Chats With Eddie

Eddie Dilleen 78+ properties chats all about property investing including: different deposit sizes investors can use, suburbs i’m buying property in Perth right now, listing prices for properties online being inaccurate, and more…

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A lot of people don’t understand the back end of how a real estate agent will actually put a property online they’ll put a property online for 500 000 asking price where does that number come from they could pick it out literally out of the air It could be worth even more than 500 000 and it could be listed at 500 000. I’ve seen agents literally pick up their phone and like change a price instantly if it probably is worth 500 000 they can list it at a million and someone like a

Novice or a beginner even if they put an offer in of like let’s say 700 000 and it’s listed in a million and they’re thinking that getting 300 000 off they could still be paying 200k too much to me it like it’s very basic stuff like no

One teaches this stuff you don’t learn it in school it just takes years and Decades of like learning the back end of how uh property actually goes up for sale starting off small it’s exactly what I did use utilize LMI as an example I know some people are against it but my

First property was a 10 deposit you know now there’s some lenders as I’m sure you know that do offer five percent the interest rates obviously will be a lot higher and you will pay a lot more LMI Etc but it is possible so if a person’s

You know young if they’re you know 21 22 19 whatever it is you can get started with an investment property still today it’s about purely thinking about the numbers and trying to make money from an investment perspective so if you live in Melbourne or Sydney you probably think

It’s impossible to buy you know a million dollar property right away I’m only on you know 45 or 50 Grand or whatever it is I’m right now buying properties in Perth for clients and I’ve bought a lot of properties I still occasionally buy a little cheapy that is

A really good value as well I bought a property in Perth in a suburb called Mossman Park in Perth usually don’t throw around the suburbs because they’ll ever everyone will be like oh that’s the secret suburb but there’s no to me there’s no such things about the secret

Suburb it’s like it’s the first what is the state that is realistically going to have the most growth in the short and long term and also mixed with which state is going to have the best rental yields to back it up this second as well and that’s why Perth as you probably

Know like you can pick up affordable properties it’s more affordable than Adelaide and it’s double the size now double the population we picked up a property there in Mossman park it was like a just a unit small block 30 year old unit but Mossman Park houses sell

For like the median price is like 1.5 1.6 so it’s an expensive area it’s right near like south of cottesloe which is like basically like the manly Bondi of Perth very expensive location this unit 210 000 picked it up three or four months ago I actually showed it to like

Four or five clients so like Eddie I don’t want to buy that property it’s too small it’s a one bedroom unit there’s one bed one bath one car but it was still about 59 square meters as you know the square meter kind of thing with banks but I’ve showed it to a young

Client and I was like you could do like a 10 deposit on this a five percent worst case and ten percent of that is twenty one thousand similar thing if someone was literally starting off how I did working at macca’s I saved up 200 bucks a week two years had 20k that’s a

10 deposit on a property today in 2023 and that probably actually got run out for 400 a week massive yield like nine percent yield and it was 210k and really good kind of Buy oh