Hi Guys,
I’m in the fortunate position to have approximately $250,000 at my disposal. I’m currently a uni student and do not own a home or have any other investments but have been wanting to get into property investment for a while.
I was hoping some people might have some suggestions about how this money might best be used to achieve one or a couple of CF+ properties.
ThanksThere’s been a few of these sorts of questions lately. Do a search for some more suggestions.
I would look to setup a trust, lend the money to the trust and pay cash for the property. Make sure you get a good one, under value. Maybe clean it up a bit. Then apply for a loan on the property.
Hopefully it will value up more than you have paid. You can then get a loan based on value, rather than price.
Then let the trust repay the loan to yourself. Hopefully you will be able to repay most of the loan, so you can repeat the process.
eg. if you were to buy a $100,000 for $80,000 you could end up getting 100% finance.
You may be able to do this several times over the coming months. By then the value of the properties will have increased hopefully and you can access the equity for even more.
Terryw
Discover Home Loans
Parramatta
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You should think about educating yourself in property investing first. There are quite a few courses around, and some are better that others.
Be careful of the ones where there is little education, a lot of hype, and a lot more selling of their own developments.
Educating yourself beforehand could save you thousands from potential mistakes.
Regards
JohnInspired Finance
[email protected]
(02) 9944 7776Thanks guys. I’m in the process of setting up a trust at the moment.
What do you guys think about buying a House around the 200k mark and retrieveing enough income from it to make it CF+ and then using the remaning money and newfound equity on the purchase of another place most likely as a renovation project.
Its an inheritance from my father so I really want to make the most of it.
Thanks again
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