All Topics / Help Needed! / What to do with my 90k deposit?

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  • Profile photo of LittleFishLittleFish
    Participant
    @kat1809
    Join Date: 2017
    Post Count: 2
    June 1, 2017 - 9:52 pm

    I’ve read Steve McKnight’s books, have monitored this forum for a little while now and have read and watched numerous property resources. News of the abolishment of first home buyers grants in NSW today (for properties under 650K) has pushed me to start this thread. I’ve reached a state of ‘paralysis’ with where to start my property journey so appreciate any kind, wise words from the forum to help me get moving.

    Goal: To buy a property that will be a stepping stone (one of many probably) to buying a home in Sydney 5-7 years in to the future to raise a family.
    Current place of residence: Sydney
    Looking to buy: Sydney, Western Sydney, Central Coast, Newcastle, or Brisbane (15km+) with assistance of a buyers agent.
    Savings: 90K which will give me a purchase price up to 550K, and am looking to buy on my own.
    Purchase price: I would prefer to buy around 450K or under with a smaller deposit to keep a buffer if possible
    Additional info: currently living at home while saving but wish to move out soon

    How would you advise my generation? Would you still consider western Sydney, or Central coast or Newcastle? Would it be better to jump north to look at north Brisbane (+15km) for a first purchase?

    Thank you for any suggestions!

    LittleFish

    Aspiring investor

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 284
    June 20, 2017 - 4:27 am

    Hey LittleFish,

    So I have many answers depending on a few more questions, if you want to chat, more than happy to share any knowledge if you want to write some questions and call me on 0431376130 – Jaxon Avery

    So to answer is difficult as your income/expenses and dedication to learning effects the answer.

    but yes you could do your goal IMO (based on nothing dramatic happening in the world/finance etc)

    the best way forward is finding properties with good rental returns that are positively geared and fit your stratergy (you will need to develop a mindstate and stratergy that will be your guide to what choices to choose)

    Kind regards

    Jaxon Avery

    Jaxon | Jaxon Avery – Financial Adviser
    http://www.jpafinancialservices.com.au
    Email Me | Phone Me

    JPA Financial Services Pty Ltd

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