im looking at buying a property in the western sydney area. i want to spend around 250k for a house. how much is the average for a remodel. i haven’t found the rigt property as yet but are keen on a few. also what would be an ideal deposit ( besides the full amount lol). never invested in anything in my life and i would like to start whilst young and have more of a disposable income than later in life. also on average, how long will it take to see a decent profit. i mean how many years does it take on average again, to see an increase. i take it that you try to sell as soon as the market rises to limit the money that you owe the bank? sorry very new to this and wanna try to get my head around it first.
thanks
Hi Rory,
welcome to the forum.
There are a lot of questions and very little information. How much income do you have? Do you have any savings? Are you looking for an investment property or for a PPoR? Just because the market rises is not a good enough reason to sell. What is your thinking/strategy?
Here are some general recommendations:
– Read some books on property investing.
– Create a good team around you (mortagage broker, accountant, real estate agents, etc)
– decide on the correct investment strategy for yourself.
Your approach seems to go for capital growth, where you buy a property and hope that it gains in value. My believe is that the market will be fairly flat for the next few years.
Most people on this forum look for cash flow positive investment properties.
– Do more research about just about anything to do with investment before you proceed.Good Luck
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