Forum Replies Created
Hi Mitch,
1. When your starting out and researching, there is no need for an accountant or financial adviser. These will come along the way through networking.
2. As far as deposit goes, generally you should aim for a 10% deposit and also a little bit more for the funds to complete the purchase. This is where a lot of first time investor forget or don’t know about.
3. If your a first home buyer then you may be eligible for the first home owner grant and this is different across all states. Also renting out one of the room is a great way to reduce expense but it will not be counted towards your affordability of your loan.
Cheers,
AndrewHaving a pool is a great feature but not all tenants look for it in a home.
So this may hurt your chances in finding the right tenants plus there are also the extra maintenance costs.
Also it will restrict you in the future if you decide to extend or construct a granny flat at the back.
Cheers,
AndrewIts very interesting that your looking at two suburbs on either direction of Melbourne CBD.
Both areas are great and if you decide to go invest in both places then its a very good example of not putting all your eggs in one basket.
I think if you use both areas as a starting point and research suburb by suburb towards the CBD you will find some really good quality investment opportunities.
Maybe also have a look at Melton, just north of Werribee. There are some good positive cash flow properties there. Great for buy and hold.
Hi Nick, looks like your in a great position with your borrowing power. If your looking in Brisbane, you may be able to purchase 2 investment properties at 350k each.
This would be a great way to start your portfolio and you won’t be putting all your money on just one property.
