Hi,
I was looking for info on general considerations on whether to ‘buy to live in’ first, or ‘buy to rent’. I am renting pretty close to Melbourne and enjoy the life style so like the idea of buying a property to use as a rental property first. Possibly out in Ballarat/bendigo areas.
If we did this would it give us enough equity to invest in other props and buy our own house closer to Melbourne
Is it more difficult to get started down the property route that way? Would the equity in the house really alow us to buy something of our own eventually?
Should we consider buying to live in (in an up and coming suburb) then use that equity to buy investment props in further out suburbs?
Cheers
Chris
Hi SidSid,
Thanks for your post and welcome to the community! I seem to be the welcoming committee today [
]I wrote something on this some time ago… check out:
http://www.wealthtipsonline.com.au/pwt/pwt5txt.html
My choice was to own later and invest now, which for me has made all the difference.
But the cost has been not having a home, but the reward has been building enough wealth to pay cash for one when I decide to buy.
Cheers and keep posting,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Cheers for that. It’s the way I imagined going, but most of the books I’ve seen came at it from the angle that you were going to use your house as the asset.
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