this is a question i am having trouble with…..should i buy a home for myself 1st and use that as security? or keep renting and go out and buy i.p’s in regional centers to generate +ve cash flow to build my portfolio… keeping in mind the prices in s.e qld are going mad….does any one have any clue bout the ipswich property market( where i want to live) … how high can it go ???? please clear my mind….thanks for your time
matty[
]matty i have the same problem. i call it first home owners anxiety. all the books and info i read suggest that intially you should only buy assets that generate income. thus a home does not fit that bill. it is difficult to sit back however and watch as house prices go through the roof. the upside is that the anxiety has mad we aware that i need to pay more attention to my personal finances. i plan on spending the next few years investing and learning b4 i buy a home. if i had an easy ride im not sure there would be the motivation to try a learn more about investing
ps – i do have 2 investment properties and a share portfolio – all accrued over the last 12 months
with regards to how high can it go – i think it can go higher but it can also drop significantly. you need to work out your propensity for risk and your goals.
i try and remind myself its not a race and that there will always be opportunites to make money whether that be now or in the future
cheers
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