Hi everyone,
Been lurking for a while and have been reading books, but have information overload on where to start – the taking action bit.
I’m looking at buying my first property, and am considering investing as opposed to a PPOR (rather build a portfolio as i may want to move around the country/world for my job).
I’ve got a 60k deposit and an 80k income – thought starters on approaches I should consider?
Cheers!
If you can buy something and move into it for a short time you can then rent it out for 6 years (as long as you don't claim another home) and not pay CGT. Might be worth considering for you if you will be moving around.
Hiya Mr dude guy
Nice user name and welcome aboard
Buying an IP or a PPOR first up can be as much as a lifestyle choice and a financial one.
Personally – I've always preferred owning a PPOR and used my first to leverage into property investing. It's also something a fair few of my clients, particularly younger ones, have done.
Some have purchased PPOR's in need of cosmetic renos. Have carried out some work – had them revalued and then accessed that newly created equity to fund the deposit/costs on their first IP.
Whatever you decide – it's a good idea to surround yourself with pros. A good finance person and accountant are a good start – as is a BA if you're purchasing interstate and don't have time/willingness to purchase something on your own interstate.
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]
Hey jamie, thanks for the response!
I'm thinking of getting an IP in qld first (i'm living vic), as the stamp duty appears to be cheaper and i have access to family who just happened to be in the building trade for renos.
But in terms of getting a finance guy, is this a broker or investment property financial planner?
I'm a total newbie in regards to accessing these people, i take it there are costs to sit down and talk with them? How do you select someone?
thanks again.
No probs – I meant a broker rather than a fin planner.
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]
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