I am new to investing and seek advice.
I have spent the past few months buried in Kiyosaki books, watching DVD's and have been to a few seminars so I'm working on my knowledge.
Given todays interest rate cuts, and the $14,000 first home owner grants is it wise for me to begin my life as an investor with property?
I am gainfully employed, contibute to my super and have had a savings plan in place for a while (I have spent the past 2 years travelling and am starting from the beginning), I am curious if using the the rate cuts and grant to get my foot in the door is a good idea, I will then have equity to use in the near future and would either move out after I have satisfied the new home owner grant or purchase another property…
With so many options presented in the wide range of information out there, is my first home (likely a liability for a year) a good first investment vehicle?
thanks
If you are planning on getting the first home owners grant then you will have to live in the house to begin with.
Always look at the long term outlook .
If it is a liability for 12 months but is turned into an investment after 12 months for say 15 years with a consistent plan to pay it off .
Then the small liability time of 1/15 of the time may be worth it to get your foot into the property market as long as your employment is stable.
You may have trouble getting a loan if a consistent savings plan cannot be shown and a period of time employed. (permanent status)Thanks
A piece of property is something I would hold onto for the rest of my life to use as equity or a capital gains reward in 30 years, so yes it is a long term investment.
Valid info about the savings and employment, I will take that into consideration.
Any other thoughts out there?
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