Hey all,
I would be thankful of any advice offered regarding my current situation.
I am currently a 3rd yr university student who has been very keen to start investing in property for years now. I am intersted in utilizing the current government grants totalling $12k for a property. I plan to buy a home that is fairly close to melbourne with 3 bdrm’s + large study. This would allow me to rent out 3 rooms whilst living in one of them.
Does anyone know where I may be able to hunt for a bargain which may be suitable for this purpose??
Ideally an old home on a large block requiring some work. Price $200k – $300kAny suggestions or criticism of this idea would be much appreciated
Hi, c_pagie84. Don’t know anything about the Melbourne market, but I’d suggest running searches on http://www.realestate.com.au and http://www.domain.com.au. Start getting out there and looking at properties. There’s nothing like ‘on the ground’ info.
AlexAlso wanted to add: to the usual ‘package’ that investors go through:
Talk to accountants, lawyers, mortgage broker, insurance broker.
If you’re interested in the student market (given you want to rent out the rooms individually) ask around at uni as to who does this. Get the agents they used and talk to them.
In short, start gathering info.
Happy hunting!
Alex
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