Hi all,
Im a 19 yr old single wanting to get into property investing. i have an idea of what properties im looking for and where, but dont have much of a diposit. with out going for the low down, or no down schemes. is there any way to make my money grow faster or to get around this so i can start investing asap?
That's a hard one as you don't give much information about income, education. My advice is to get as much education as you can, not the formal stuff at unis and TAFE but by following those who have been successful (eg Steve McKnight, Margaret Lomas, Michael Yardney, Reno Kings, Jan Somers, John Fitzgerald). There are heaps of books around so just either go to your library or to a bookshop in your local shopping centre. Find a mentor who is willing to show the ropes – that person will prove invaluable
Unless you have a reasonable level of income, you'll find it very difficult getting a loan.
i have read steve mcnights most recent book (0-130 prop in 3.5 yr) and i earn approximately 50 grand a yr
Realistically you will need 5% minimum deposit saved over a 3-6 month period plus acqusition costs and LMI.
Depending on your Credit score that may increase to 90% so regretfully i think i would read and save at the same time.
10% of $300,000 is $30K and that would be a minimum.
Richard Taylor | Australia's leading private lender
Realistically you will need 5% minimum deposit saved over a 3-6 month period plus acqusition costs and LMI.
Depending on your Credit score that may increase to 90% so regretfully i think i would read and save at the same time.
10% of $300,000 is $30K and that would be a minimum.
Richard Taylor | Australia's leading private lender
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