Thx Richard,

I found some decent properties in Eagleby and Beinleigh. Based on your knowledge, if say it , my property has 700 sqm land, and the building is only 250 sqm, later on can I renovate the house and expand the size of the building become 400 sqm ? what’s the rule behind that ?

cheers

thanks Richard, I just know all of that. It’s not that simple to start ,

Based on your experience, I read some suggestions of yours on other topics , you always prefer using IO only repayment, how about redrawing equity increase because of valuation ?

thanks for your response mate, that’s what exactly my plan is, I understand that studio in the city might not have good growth, but the rental income is quite decent, and I can live there as well initially before rent it out. While putting my saving on the equity ( from repayment ), I can try to find another property maybe after a year, and sell it or just redraw the equity that I have on that studio property. Do you reckon it’s a favourable strategy for first property ?

My brief situation is my income is not that high , under $50k, but I can afford repayment until $1500, and extra repayment until $2000 per month ( $3500 in total ). I have saving around $30k , and eligible for FHOG, and I am planning to start investing in the next 4-5 months. I believe bank will ask me for 20% deposit at least because I have never borrowed money before. So what I can afford is maximum $150k loan ( what banks will think ).

if you are on my shoes, what you will do for the first step and what are you looking for first property ?

cheers