All Topics / Help Needed! / Some novice questions
Hello all,
in the next few months I plan to purchase my first investment property and would like to get some guidance on a few points.Firstly, I was wondering if there were any particular guides or books people would suggest I read. I have read Steve’s 0 to 130 properties book before (a few years ago now) and am in the process of re-reading it. However I feel I need some more information on the steps involved in purchasing a property, e.g. I know I will need to engage the services of a solicitor at some point in purchase my property, but are unsure of when and what their actual role is. Also I want to be able to know and plan for other costs that will be involved, e.g. insurance, rates, so I can have a very good idea of how much money I will need to make available.
Secondly, in my search for a CF+ property, which I would love to find, I realise I may need to buy interstate. With this in mind I was wondering what precautions one must take when purchasing a property sight unseen, due to it being interstate.
For information’s sake i'm 24, live in Melb and am looking to spend about 200K, my available deposit should be around 27k in one or two months time.
Thanks,
BMc
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