I would really appreciate any input on how to maximise investment outcomes and structure finance. Situation:
Currently have $40K in savings and eligible for FHOG. My mum also has $40K she is looking to put into in an investment with me (in my name).
Current rent $300pwk sharing with flatmate so paying $150.
I live in Sydney and want to use FHOG to buy first property and can borrow around $290K on my salary of $55K.My partner has investment in QLD valued at $230K rented for $250pwk, owing $165K. I want to buy the Sydney property in my name only to be eligible for full FHOG and stamp duty. He is on around $65K income.
Goals are to buy as many properties as possible before the next boom and ideally generate a passive income, enough to be able to retire in 10 years.
Questions: Any thoughts on this situation and what would be the best way forward to enable us to keep buying? eg loan structures etc
Thanks very much.
T
Hi T
i suggest you read as much about investing as possible. Work out what strategy you feel is something that will work for you. For instance some people love creating wealth by renovating properties, others don’t.
Remember with the FHOG you need to live in the home.
what your asking is not possible to be answered in a forum, surround yourself with people who have actually made money from investing. You will learn so much from these people.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au
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