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I just wanted to say well done on your first IP. I applaud you and all the other young investers on the forum for starting to invest at your age. Whilst most other young people are buying cars, hunting the opposite sex, and boozing.
Keep the ball rolling and you will be able to do what they are doing in the future with more wisdom, more money, and a higher appreciation of life.[thumbsupanim] whilst the others are trying to work out how you did it.You amaze me,Well doneloungeact,
I am only new to all of this but if you and your mother have a small income why not join forces and buy a house together you can still apply for FHOG just have house in your name but loan in both names. double check that incase application has changed.then you can continue maybe with IP.Why not involve her instead of charging her as I am guessing as a mother she would include you.She must b a good mother at that mine,would of stopped talking to me, even if i just toyed with the idea of charging her for anythingThanks all,
I think using a mortgage broker is definately the way to go but great to know it can be done.
Mining towns are definately not the best place to start,harder to get finance,sometimes harder to sell, have to have a enter exit plan,and cross fingers it works.thanks for your time
HI guys
Like prady I am looking for answers myself as a first timer.We are looking to buy in a mining town as rents are hi and buying is decent.We have 5% deposit plus stamp duty etc.and can have 10% soon plus eligable for FHOG however our local bank are unable to help us without 20% deposit due to not having 6 months consecutive savings due to low deposit and decent income we saved amount quickly.
We want to have the loan in next couple of months and want to know if there is a financial institution out there that doesnt require the 6 months and 20% deposit?We will also hopefully be using this property/plus to start investing in property soon after we have purchased.any suggestions would b appreciated
regards cojah
