Hey, I’m currently completing year 12 in Brisbane and going into uni next year. I am looking at getting an IP to start off my property portfolio. With the house boom finally blown and interest rates coming up, not to mention the fact that rent rates haven’t gone up as much as the house prices have. Is it still possible to find a IP with a positive cashflow? Is commercial real estate looking better now?
And what can I do to over-come this?
Thanks for your help
TomTom, you will probably need to start saving as much as you can so that you need to borrow less.
However, you also need to have a life, so don’t forget that Uni is supposed to also be fun.
Cheers
MelJust curious, being in year 12, I am assuming that you live at home.
I would think that you would be better off to go for your first home, receive the 1st home owners grant of $7,000.00 and live in it and rent rooms to other uni students…….. and then after 12 months if this is not suitable you could either sell it (no capital gains on own home)to fund an investment property and move back home, or rent it out entirely and move back home , then purhase a second property as an investment. Just a thought.
P.S: I once worked for a builder who built spec homes, lived in the plushest for three months then sold on a ratio basis of 1st hse 3mths, 2nd hse 6 mth, 3rd hse,9 mths, 4th hse 12 months in 30 months turned over 4 hses with no capital gains.mopsy
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