Just bought first property in Melbourne

Hi avalonesa

even if you get 60 dollars a month after the loan, you still need to cover insurance, maintance, insurance, rates "etc" you will still find after all of these expense your property would be negative geared.

The old saying that buy some thing close to the city has changed and here are my reasons

 If you look at melbourne, there are more corporate companies who are moving out of the CBD or into another state all Together, 

a few companies I deal with who are blue chip firms have moved into areas like laverton, keilor park, Derrimut  and even dandenong . Why are they moving cheaper rents!!!

our train system is developing more and more  and look at this example as well, my wife and I live in deer park she catches the v line to work it takes her 40 mins into the CBd, her work mate lives in st kiilda and she takes the same time.

Most areas  now have schools, transportation an shop 

Depending on your target market, which suburbs  ate good to buy in? To me the property it self is  more important, can we add value, can we look at future development "etc" you also have to look at your area an say if I built  another room why other homes am I competing in the area, the property game has changed and you need to treat it like a Bussiness,

When I first bought my up on my 21st  birthday you could buy pretty much buy any property an the value would increase every day. That was only 7 years ago but now you need to look at all the fundamentals also every one is going to have there preferred places to buy, so you need to buy some thing that suits your long term goal 

For me u focus allot on shares, it works for me, im

up every day by 5 and I don't go bed until 12, always reasearching 

But what I recommend you do is this, network , build a good team around you , get a good broker, mentor , lawer and accountant to me this is more important in your early stages of investing