Hi everyone!
I enjoy reading all topics on the forum and what love any advice people are able to provide me.
I am 22 and looking to purchase my first investment property within the next few months. My plan is to buy a property and live it in for the first 6 months to claim the FHOG, then rent it out and move back home with my parents.
I will be buying a property with the plan to hold it for at least 5 years and hope to purchase a 2nd property within 1-2 years.
Can you recommend any suburbs within Sydney, under $300,000? I have been looking at Merrylands, Rosehill, Werrington and the like.
Alternatively, would I be best to forego the FHOG and purchase a cheaper property (or even land) in NSW? I noticed the price of land in Griffith has reduced dramatically.
Thanks in advance!
Seven Hills, Blacktown, Quakers Hill, St Marys, Nowra
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
youngproperty wrote:Hi everyone!I enjoy reading all topics on the forum and what love any advice people are able to provide me.
I am 22 and looking to purchase my first investment property within the next few months. My plan is to buy a property and live it in for the first 6 months to claim the FHOG, then rent it out and move back home with my parents.
I will be buying a property with the plan to hold it for at least 5 years and hope to purchase a 2nd property within 1-2 years.
Can you recommend any suburbs within Sydney, under $300,000? I have been looking at Merrylands, Rosehill, Werrington and the like.
Alternatively, would I be best to forego the FHOG and purchase a cheaper property (or even land) in NSW? I noticed the price of land in Griffith has reduced dramatically.
Thanks in advance!
hi would you look outside nsw i know hindmarsh island marina in sa is ear marked to have prices jump to the high end in the next few years land dry blocks (land that does not face water) are selling from 75000 and the land has no time limit to build
Hi –
Starting out with investing. I highly recommend educating yourself about all things 'money' before spending all of your hard-earned. There are plenty of resources to learn about property investing, and different strategies for doing so.
My advice – learn about wealth creation, then about investing in property, then choose a strategy, then invest (ie spend!).
A good place to start is to read a book called 'Australias Money secrets of the rich' by John Burley.
http://www.powwowevents.com.au/cgi-bin/WebObjects/pwweb.woa/wa/category?number=3056
I wish I had read it when I was your age.
Good luck!
tang737 wrote:Hi –Starting out with investing. I highly recommend educating yourself about all things 'money' before spending all of your hard-earned. There are plenty of resources to learn about property investing, and different strategies for doing so.
My advice – learn about wealth creation, then about investing in property, then choose a strategy, then invest (ie spend!).
A good place to start is to read a book called 'Australias Money secrets of the rich' by John Burley.
http://www.powwowevents.com.au/cgi-bin/WebObjects/pwweb.woa/wa/category?number=3056
I wish I had read it when I was your age.
Good luck!
I agree – a great place to invest is in your knowledge – you’ll get lots of good info here and then read a few good books.
Have you considered buying an apartment – they have outperformed in Sydney so you will get in closer to the CBD than if you buy a house.
Hello Young Property
I would seriously consider spending some money / effort on education, buying on impulse or the hearsay of others is fraught with danger as a new property investor, these can be costly mistakes and take a lot of time effort and $ to unravel if you come to the realisation that a mistake has been made. Far better to spend that money on the education and learn from others who are already successful. Oh and a whole lot quicker
Warm regards
SueMIT | Owen Real Estate
Email MeThanks for all of the advice!! I have read several books relating to investment and continue to do so.
Charles 1 – I am looking for an apartment, as I understand they generally provide higher rental yields. However, it is still difficult to find apartments in growing suburbs under $300,000. That is why I am finding myself searching further away from the city.
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