Hi All, thanks for reading my first ever post to a forum.
I am like many people on this forum, just starting. It is a perplexing and actualy quite frightenening to do. I have read Steve’s firts book and getting into the secoind. I am at teh same tim elooking on websites for +ve cashflow properties, but thsi being my first investing property shodl I be looking for a unit or house? Residential or commercial? if I have a $20k to invest what would a good goal to have by the end of 1 year?
Any budding mentors out there who have a few minutes?
Welcome and I hope to see you post more!
Most people start with residential property – it is cheaper and simpler to get started in.
You may also choose whether to start with an IP or a home and enjoy the FHO benefits.
You need to aim for a 5-20% deposit, so at this stage I would urge you to keep saving and study your chosen area until you know it so well that a good deal will stand out. Look at open houses every weekend is a start.
All the best,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sim is right, you need to familiar yourself with the market more. Also you need to find out how much you can borrow to know what to look at. (Simon is just the right person for that) Then you need to analyse your current situation to determine wether you a positive property or Capital growth as your first investment..
Lets just start there before it gets too confusing..
Happy to help!
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
thanks for the tips!!
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