Hello People
I am currently looking for my first investment property to purchase. I live at home with parents and have 0 expenses. After tax I earn about $30000 a year.
I have $10,000 saved up and my mother has said that I can use her property as collateral. Her house is a PPOR and valued at around $800 with about 80% equity.
I have been told by my mortgage broker that I can borrow up to around $300,000.
I live in melbourne and Im not sure where to start looking.
Any ideas on a good type of property to start with would be much appreciated.
Im mainly looking at houses in cranbourne and werribie as Im trying to get it positivly geared from the get go.
Cheers!
-Zyzz
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