Hi,
I'm a full time student that if I continute working at the same rate each week, I'd be earning about 20-25K a year which isn't a lot but it's something. I was wondering if there are any veterans out there of property investment that could give me some advice on how to increase my income. I was thinking of putting into a term deposit account for about a few years. The problem is that I'm not sure how much money I should have to invest in a property (I'm thinking of apartment at this stage.) For instance, do I wait until I have 100K before I buy a property and what kind of mortgage should I take out? Also, what kind of term deposits is best?
Any advice would be greatly appreciated!try to save as much as you can.
earning 20K while studying full time is a good effort! so good work.
Im not a property veteran…but you need to aim for 20% deposit – so around 60K for 300K house. – or if you find a good bank you may get away with 10%
once you finish studying you should be able to start out at 40K /year easyif you need to park your money somewhere – then yes you could use a term deposit or high yeild online savings a/c.
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