hi guys and girls,
only been on this incredible site a whole 10 min but there does seem to be a wealth of knowledge a poor girl like me defintely needs.
can i ask in the forum for help or direction? ive never been to these places so i don’t know the right way to go about it.
the names amy, ive just turned 24 and its just dawned on me that i need to invest in something and brinks and mortar seems to be a solid intial investment!
from a personal situation, i still live at home (i know i know) work in marketing, earn about $60,000 pa and have $8,000 in hard earned cash (could be my new summer/winter wardrobe).
my ideal investment will be a low maintenance unit worth around $150,000. I can get $7.5k grant too which helps. Id prefer to start small and then move onto something later on and don’t want to kill myself. I wouldn’t live in this, pure investment but thinking should -ive gear or try and find a positive gear? im earning good money so i would love to save some money in tax
I might be going overseas for work in august so i want to buy and rent it out before any of this happens. my folks can manage the place when im gone, which will probably be for about 18 months but who knows.
location, im open to looking at places far and wide – i just want something that i can start building wealth…..
im based in sydney but i like the idea of perth and melb cause of population growth
if you could help or want to provide some advice, id love to hear from you!
L amy xoxo
I’m blind and please show this little girl the light! *KISS*
Hi Amy,
Only here for a short time so will get back to your request later – in the meantime just a friendly heads up for you. Please refrain from multiple posts of the same question as it clogs the boards up and will make it harder for others to meaningfully contribute and engage with discussion.
In the meantime enjoy the stay and ask your questions (once [biggrin]) – we trust you gain heaps from the experience.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Hi Amy,
Finance wise you are pretty well nearly there to buy something in this range. Just a little more for fees will see you done.
You are at an age where property is a great investment. Plenty of us older folk wish we had started at 24 or younger.
Please post any questions you have but right now you need to research, research and research to find the right market for you!
You might not get much in Sydney but remember that to get the FHOG you need to live in the property for 6 months so unless you are able to move interstate then Sydney might be where you start.
All the best and hope to see more of you
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hmmm….I was thinking Sydney but where do I research and what should I believe? Seems to be so much out there and alot of hugry wolfs!
If someone was to have $160-$170 to invest, what regions would you look at. If I get these rough areas, I can use these as examples.
I think a funky ome bedroom somewhere would be my ideal situation – low maintenance ect
Come on guys – suggestions!
Amy
I’m blind and please show this little girl the light! *KISS*
Hi Amy
Unfortunately there is no short cut when it comes to investing, knowledge is power and you need to spend lots of time researching the net, reading, and ringing up agents, on the net you have http://www.realestate.com.au will give you a starting point where you can narrow the search for properties within your price range, you are also looking at what industry is in the area you wish to buy into especially if your going to be purchasing in small towns.
If you are still looking in Sydney and only budgeting under $180,000 the following suburbs came up: Mt Druitt, Tregear, Ingleburn and Glenfield.
Finally you will get lots of advice, what I have learnt is don’t take advise from anyone that does not have investment properties themselves.
Good luck
Jenny1
possibly pick up a ‘doer upper’ in Macquarie Fields – certainly would be something to get your teeth into as as a first time investor.
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker BrisbaneHi,
Sounds like you just need a strata apartment with minimum effort to maintain, we can grab hold of 1 bedroom units for $125k with $130 pw returns although we mostly focus on Perth & Qld, you eed minimum $20 odd to get in to something decent there. I wonder if that is really all you can afford?
As it’s a first investment, you really need something with good growth potential an offset some of the tax you are paying.
here to help.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
This is what I would do ifI was you:
1. Look around the suburbs that you live in within a 15 minutes drive radius.
2. Identify all 1 or 2 bedroom flats/units that are for sale in the price range you are looking at.
3. Make a list of them.
4. Go and visit every one of them.
5. Pick the ones you like.
6. Start making offers. if you don’t know how much to offer – then just offer less and test the waters – you’ll soon work out what is a reasonable offer.
7. make offers subject to releant building inspections./ check body corporate information/ subject to finance.
8. buy something within the next 2 months.
(if you can get the first home buyers grant – get it – although you’ll need to live in the property for a while – if you can’ get the FHOG then just buy the property anyway – $7,500 in the bigger pictures is no big deal and this should not delay your decision.)
9. Go overseas and have fun.
Time and delay is your biggest enemy right now. If you do not buy now before you go overseas then you run a real risk that you will come back with little or no $ to invest. You will be at an age where you may want to get married – more $ – then you may have kids – more $ and time off work etc etc
So your strongest position could very well be in the next 2-4 months. You’re just in time. Go out and buy something.
Don’t stress too much about where it is, what it looks like – just go with your gut feel – which is to buy an easy to maintain unit. It’s a great start and one I believe you won’t regret.
Just look locally and get the first property bought and under your belt. Worry about the rest when you’ve come back from overseas. It will be the best decision you can make IMO.
Let us know how you go.[exhappy]
Thanks Guys!
Really appreciate it.
The problem that I face is where I’m living at the moment, its not great for investment [Parramatta].
I don’t want to invest there and think Sydney has gone dry. I’d love to invest somewhere in Queensland but where? Seems units are the unloved property segment…..
I’ve calculated I could get $16K deposit by January (without first home-buyers grant) so that could help me to bits
Are there any other pockets in Sydney or Queensland that could be best spend researching?
Perth is an option but too far for me
Appreciate your feedback
AMy
I’m blind and please show this little girl the light! *KISS*
Let me just say, that if all 24 year olds thought like this, it would be just great!
Qld is a greatplace to ivest, we are looking at great reburb apartments close to water for $210k returning $190pw, which is not bad considering they will have some good growth too. There are many options in Qld & WA, you just to spend time researching and speaking to peoplein that field.
You are doing great.
here to help.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
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