Hi Guys,
just after a bit of a guide as to what you would do in my situation.
I am 24, have just built a house, it is worth approx. $330k, my loan is for $230k. so around 70% LVR
I am on $43k per year (due for a rise soon)
I am thinking of drawing on equity in my home, rasing my LVR to 80% and purchasing an investment property for around $200k (which is what i have worked out is my max. limit)
i have been looking at houses in regional areas like bendigo, ballarat & shepparton as well as inner city 1 bedroom appartments. what would you suggest is the better 1st investment? taking into account i would prefer a neutral or positively geared investment due to my low income at present
or would you suggest sitting still for a year or so, until i am on something like $50k per year and my home increases in value to something like $350k. then purchasing a house in a suburb
if anyone could help suggest what option i should take or any other ideas of what you would do in my position it would be much appreciated
thanks in advance
josh
just after a bit of a guide as to what you would do in my situation.
I am 24, have just built a house, it is worth approx. $330k, my loan is for $230k. so around 70% LVR
I am on $43k per year (due for a rise soon)
I am thinking of drawing on equity in my home, rasing my LVR to 80% and purchasing an investment property for around $200k (which is what i have worked out is my max. limit)
i have been looking at houses in regional areas like bendigo, ballarat & shepparton as well as inner city 1 bedroom appartments. what would you suggest is the better 1st investment? taking into account i would prefer a neutral or positively geared investment due to my low income at present
or would you suggest sitting still for a year or so, until i am on something like $50k per year and my home increases in value to something like $350k. then purchasing a house in a suburb
if anyone could help suggest what option i should take or any other ideas of what you would do in my position it would be much appreciated
thanks in advance
josh