Hi all,
Iam planning to buy my first home in st Albans/kings park/ginifer area of melbourne vic. this decision is more like a entry into the housing market to buy a home for a couple of years and then convert it into a IP. i have done a bit of research but i would like to ask for advice from any members who know about these suburbs. all advice and recommendations are highly appreciated.
thank you all for your support
harryHi Harry
I wont comment on the areas being a Qlder (although in saying this happy to run you off a Residex report on any property you find if it helps) however one thing to bear in mind given your potential circumstances is how to structure the loan.
There is no point taking out a P & I loan and going hammer and tong to pay down the debt when in a few years time you will convert to an IP and look to move on.
Many investor make the same mistake. They then want to draw out the equity for the deposit on their new home and dont realise the interest is not Tax deductible.
Simply structuring the loan correctly from day 1 can save you a lot of grief down the track.
Anyway good luck with your hunt at what is a very exciting time.
Richard Taylor | Australia's leading private lender
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