The only reason that i am thinking of renting and buying an investment property is that as i am now a single parent with 2 children the kind of place that i could afford to buy is more than likely going to be too small for us to live in. But i would rather rent in the area that we are now living in something more suitable as my child is starting…[Read more]

A few people have told me that renting is basically dead money and that the rent money that i'm paying could be going towards paying off a property.Mmmm now i'm more confused. Any thoughts?

Thanks Guys,We do already have a home but we will be selling it due to a separation. I thought buying an investment property would be a good opportunity to do something better with the money than put it in a term deposit or something.

Thanks guys,Scott do you know if the paid info about areas is worth spending the money on? Is it any more useful than info you can find yourself?Andrea

Thanks for the replies everyone,

We just thought the iner west would be a good place to start as there are hospitals and uni’s there.

We realise that it’s not a glamorous area but inner east is very expensive.

As i’m currently on maternity leave we are using this time to explore the market and different areas.

Any other opinions would be…[Read more]

Thanks for the replies.

Does anyone have an opinion about buying flats in the inner west of melbourne?

Thanks

Andrea

Capital gain.

We are getting so much different advice about this that it’s driving us insane![angry2]

I’m currently on maternity leave so a flat is more within our budget, we don’t want to wait too long to get started otherwise we probably won’t be able to afford anything.

Of course in the ideal world we would love to start with a house but we…[Read more]

I don’t know if there’s an over supply…..maybe of the high rise brand new one’s but that’s not what we want.

What we had in mind is approx 6k’s from the city and a smaller block.

Houses are just so much more expensive that if we were to get one it would take us forever and by then the prices may be out of reach.

Andrea

Thanks for the replies.

Does that mean that it is possible to do well with a mix of both negative and positive cashflow properties?

Andrea