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  • Profile photo of MayaPMayaP
    Member
    @mayap
    Join Date: 2011
    Post Count: 1

    It is great to see that you have recognized the need to make a change in your life.
    The first thing you should do is identify exactly how much you will be able to borrow based on your income and obligations situation.
    The site I usually go to for all my home loans is http://www.webdeal.com.au

    Do not buy anything until you receive a pre-approval for an investment loan.

    Next you should look for an undervalued qualify property in a postcode that is not too far away from the city centre in your home state.  It is best to start with something simple, stay away from development and subdivision until you have bought well , improved the value of the property and held it for some time.

    I feel that it is always best to stay in an area that you have some familiarity with. Choose a suburb with a shortage of quality properties and spend some time researching property prices, capital growth and rental yield. After several months you will be an expert in your chosen suburb and will be able to recognize a worthwhile purchase.

    Remember, always purchase 'subject to finance' and get a solicitor to check all the paperwork before making an offer.

    Good Luck!

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