hi guys, im currently 22 years of age and i have now been approved to a $400k home loan
i have been looking on the market to purchase a investment property and im really confused about what to look for. i live around south western sydney please give me your own feed back on what to look out for and other details about areas that are well worth having a look at. thanks in advance james
Well your investment path will start where your budget, goals and the current market intersect.
Why are you investing? Long term capital gain? Short term cash flow? The answers to these questions will determine the type of property you invest in.
You don’t have to invest where you live. Where does a home of your own fit in – principal place of residence (PPoR)?
If I was starting out again, I’d say make sure you have an exit plan as well as an entry plan, and a good sized buffer for peace of mind.
jamesp33 wrote:hi guys, im currently 22 years of age and i have now been approved to a $400k home loani have been looking on the market to purchase a investment property and im really confused about what to look for. i live around south western sydney please give me your own feed back on what to look out for and other details about areas that are well worth having a look at. thanks in advance james
Hi James
Start with educating yourself. Read some IP books and continue visiting forums like this. Once you understand the basics of property investing, start honing in on an area. Visit plenty of open houses, ask plenty of questions. When it's time to buy you'll hopefully have a good idea of what constitutes a good deal.
Best of luck.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Be clear with what you want.
If you don't write down exactly what you want, then any old property will be good for you.In order to determine the criteria for what you want, that's where the reading and learning comes in. Learn form other successful investors and use their criteria for your own success.
As above. There are many types of property and different reasons for buying them.
Read, get an idea of what YOU want to get out of it. Cash flow, capital gain etc.
This will help you determine what and where you will buy.
Keep asking questions as you go.South West Sydney is as good an area as any to start if you feel comfortable with that area. Go to a few open homes to see what's around.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
