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Thanks Jamie you are 100% right.
Do Pass Go Home Loans also offer strategy and wealth creation advice?
Thats what I was intending on doing however I must be missing some parts, Obviously the figures, it seemed like a good idea but i cant see the proper stucture, The financial advisor seemed to think this would be ok..
From what Ive learnt Mackay looks good for CG this is why i chose that area but, Im aware its not the only area for CG so I have more home work to do.
Goal is CG and positively geared.
I am entitled to FHOG but its only around 7k
I will find another stratergy and see how it compares, any suggestions on a stratergy?
Thank you for your valuable response, I will re think my strategy and see what else I can compare with.
Jared
how is an efficient way to navigate through areas in search of CG on internet, How do you really find out what a good CG area looks like. Might seem like a dumb question but, Im on the net as is a passion of mine learning about property, reading articles and bit by bit adding to my knowledge.
From your experience how do you sort out good property deals
hello
Thank you very much for your responses
Ok., I have 30k saved and earn 100k py working as Diesel Fitter with a 15k dept on my Ducati, I have been working in Karratha and just got home to Sydney, and will be here until no later than July, then off again to Bowen area.
In Sydney I do not have a house I live with my family and am very lucky not to be paying rent.
This is what i am thinking, I'll work and live in Mackay for 6 months If the area seems true I will buy there. Thinking to buy a unit, live in it until I can afford to rent it out, the purchase price would be for around 250-300k. I will only buy if number crunching showed PG.
I've heard Mackay is a good strong area which shows good CG and can still be PG
Should I enter the market on a 50k deposit and buy a unit or, save as much as I can and try buy a house? This will be my first property so I have to make it a good one.
I don't want to stay in Mackay longer than I have to so when I can afford to move on I would to like buy a place I call home in cairns. Then hopefully as soon as I can after that really get cracking on some Positive Gear property.
This is my ultimate plan, what do you think?
