Hi everyone
Im 21 and have been interested in property for a long time. From a young age i have been gathering as much information about investing as i possibly could and recently bought my first house only a few months ago which i currently reside in to get the first home owners grant. Im looking to expand or rather create a healthy investment portfolio that will allow me to retire comfortably within 20 years.
I have roughly 200,000 in equity in my current home and the ability to service around 400 a week in loan repayments on top of what i currently pay and also 10 thousand saved up for another deposit.
Would leveraging my current home to purchase two other properties be a viable option or would it be better to start with one considering my inexperience. Could i service two P&I loan's with 400 a week? Would getting an intrest only loan change anything? When i got my first loan the intrest only repayments were only around 100-150 cheaper a week(rates were around 8%) with the lower rates today is there a significant difference?
Any help or math on the situation would be greatly appriciate as i find it easier to work in numbers but its hard to wrap my head around how alot of things work
sorry for the bombardment of questions any help would be greatly appriciate and deffinitly used
Andrew
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