Merry Christmas all,
I need just some ideas. I have one IP in Melbourne at the moment which is being rented out at $900 per month. I currently own the bank about 150k on the property and I have no other out standing debts such as credit cards, loans or any personal loans.
I live with my parents and I don’t have to pay any rent or anything like that.
I earn around 50k a year and I have saved 30k in the bank.
My next goal is to purchase anther IP by April.
-What areas would you look at buying in Melbourne at the moment?
– what areas are projected to provide high returns in both rental and capital growth
– Or simply if you have been in my situation what did you do or what you do?
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Talk with a Mortgage Broker, find out what your borrowing capacity and servicabilty figures would be, then start looking for areas that you can afford, have a decent rent return, and prospective cap growth.
A quick search of your price range on real estate.com.au or domain.com.au will give you a few places to start your searches.
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