Hi all,
Long time reader, first time poster.
I have decided to buy my first investment property. My partner and I have been pre-approved for a 400k loan. I'm trying to decide between:
- a smaller apartment (1 bed, 1 garage) in Carlton/North Melbourne/Fitzroy) or
- a larger apartment (1/2 bed, 1 garage) in Brunswick/Northcote
The plan is to rent it out, and in around 5 years time re-assess and possibly use equity from the property to get a second investment property.
Which option would be best for my goals.
Thanks in advance - appreciate any advice as I'm fairly new to this. I'm also open to new suggestions - I just feel the above options are safer/conservative choices.
Long time reader, first time poster.
I have decided to buy my first investment property. My partner and I have been pre-approved for a 400k loan. I'm trying to decide between:
- a smaller apartment (1 bed, 1 garage) in Carlton/North Melbourne/Fitzroy) or
- a larger apartment (1/2 bed, 1 garage) in Brunswick/Northcote
The plan is to rent it out, and in around 5 years time re-assess and possibly use equity from the property to get a second investment property.
Which option would be best for my goals.
Thanks in advance - appreciate any advice as I'm fairly new to this. I'm also open to new suggestions - I just feel the above options are safer/conservative choices.