Hi I’m a 19 yr old full time university student in QLD. Im beginning to worry though that with the next property boom lurking within 2-5 years if I dont start investing now I may never be able to even afford my own house. I am still living at home and holding down a small part time job. Can anyone give me some tips or advice on starting my own investment portfolio? Its something I feel that I need to do!! [blush2]
Get a part time job while at uni, save as much as you can, and before you go for a loan application change to full time. Your work history will help, and the added income will too. Once you have the loan, what you do is up to you.
Also register an ABN now. This helps is getting low doc loans later.
If your parents have equity, you may be able to borrow some money and start off that way. But be careful.
Terryw
Discover Home Loans
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
if you are on austudy a negative geared loss will be deemed as income and affect your austudy. If it is positive income it will be deemed income and affect austudy. If you realise a capital gain it will affect Austudy as income.
Centrelink will make it harder to invest in property.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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