Hi Everyone,
I am 29, live in Adelaide and have just had a recent windfall of about $300k. I have no debt and live with family at the moment as I am looking to move to the country, I also have an income of around $85k/year until feb next year when my contract ends. I am torn as to whether to invest in shares or property. With the market the way it is and prices still reasonably affordable in Adelaide I am thinking property. Could someone please help me out with some advice or point me in the right direction for me to learn more. At this point I am thinking of using 200k as a deposit for an investment house (cottage) in the cud and perhaps 100k as a deposit for an apartment?
Complete newbie in this space so advice is really appreciated.
Kane
Welcome to the forum Kane.
I’d talk to a broker to work out how much you can borrow as the contract ending will more than likely be an issue. If financing isn;t an issue I’d pay 20% deposits and park the remainder in offset accounts.
I’m currently investing in Adelaide and there are plenty of bargains out there. I’d try an read up on a few strategies and see what you think will fit your future plans.
Happy to chat if you need and help.
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
Consider buying a main residence borrowing 80% and then pay it Down asap while recycling debt by paying the loan off and redrawing to invest. Structure the loan splits to maximise flexibility in doing this.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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