Hi Forum,
I’m in a situation I never thought I’d be in, but with that said, you have to roll with the punches and move on in life I guess.
I found this forum through a friend and have been viewing the commentary from a friend’s nickname but decided to register on my own and post something, so here goes!
I am a very private person and unfortunately I need help and guidance on my situation and would appreciate anyone’s input / commentary as I can see there are some incredibly knowledgable people here who know SO much about the property game.
I am 25, based in northern Sydney, with a relationship of 3 ½ years ending abruptly 3 months ago. From that, I received $45K from my partner following my investment into our principle place of residence which was in her name during that time. I am still eligible for the first home owners grant.
So, I have $45K to invest into property. I earn $75K a year and this should steadily rise over the next 3-5 years after more experience. I have no debt, with the only exception a small payment to the government regarding my university degree. I am in the process of moving back home to save money initially however I may move back into the city, due to easy of travel and access to much more facilities. Previously 15 mins, now at parents property, 45-1 hour via public transportation.
With that said, I plan to travel overseas in the next 9-12 months on a working holiday for a couple of years and take in the sights of the world in the process. I would like to bring a few dollars home o to boost my financial position but it is not my priority – if I do, great but if I don’t, I’ve got memories that are worth more than any cash value. I don’t’ intend on living in the property for long, however understand that I will need to reside in my principle place of residence to receive the first home buyers grant. Flexible at
So my ideal investment would be something that I can rent out, with my parents looking after while I’m overseas. With that said, I probably want to spend no more than $250-$300K. Looking for capital return rather than cash flow positive property.
I’m not fussed in the state of the property but looking towards QLD due to population growth and also concessions on purchases under $250-300K. Brisbane seems cooked, so its probably a good time to hunt for bargains but would appreciate people’s commentary on my position.
Would really appreciate people’s thoughts
Ahh…what will go wrong will go wrong!
There’s more than one person who’s headed off overseas to rake in the big bucks, which I believe if you can is a great idea.
250-300k is a good starting point, but don’t hold your breath on CG’s like the last few years and yes Brisbane generally seems overdone, but so does a lot of other places. This is where research is paramount.
All I can think of is dont be in too much a hurry, use your escalating income wisely and research, research, research. The market seems quite volatile at the moment, so remember if you cant find anything worth buying for what you want to achieve, then leave the money in the bank.
Good Luck…G7
Sounds like a good plan. Try to get the investment before you go, while you are still working. You may not get much in the way of tax deductions, though, if you are not here earning an income.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks guys.
I terms of purchasing, considering my situations, could you offer some examples of, if you were in my position, you would consider.
I would really appreciate peoples comments – so PEOPLE please help!
newleaf
Ahh…what will go wrong will go wrong!
OPS!
Originally posted by ahooker:Properties That Meet Investment Standards
Compliant Investment Properties’ unique approach will give you peace of mind when you are considering the essential elements of any real estate investment. And best of all our services are free.
This may be deemed advertising but I have to ask the question – if you provide this for free where do you make your money? Do you get a percentage from the developer? If so what is the percentage?
You must be logged in to reply to this topic. If you don't have an account, you can register here.
