All Topics / Help Needed! / $150k, how to spend?

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  • Profile photo of MrLibraMrLibra
    Join Date: 2011
    Post Count: 1

    Hello all, I have $150k in bank.

    I have no debt, no bad credit and i earn $60k.

    I am single, 37.

    I do not own any property but would like to stop renting now and buy a 2 BR house for around $400k-500k (i.e. $250k-350k loan) somewhere
    down along South East/Mornington Peninsula, will go as far as Frankston.

    OR is there a cleverer way of doing things i.e. not put all my cash into one property?

    Perhaps buy a smaller apartment to live in and invest in something else as well?

    Any input appreciated, I really have no idea what is best way to approach.


    Profile photo of Jamie MooreJamie Moore
    Join Date: 2010
    Post Count: 5,069

    Hi Mr Libra

    It all depends on your own risk profile and what you’re aiming to achieve.

    Purchasing the property you mentioned will cause you to hit a serviceabiliy wall very quickly – limiting the ability to purchase additional properties in the future.

    If you wanted to build a portfolio, that $150k could be spread over multiple properties achieving cash-flow neutral/positive results. Which means they won’t cost you too much (if anything to hold) which is an important factor when considering your income.



    Jamie Moore | Pass Go Home Loans Pty Ltd
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of BaysideBayside
    Join Date: 2018
    Post Count: 64

    The Mornington Peninsula would have been a great investment. Prices have increased significantly and still are growing.


    Coastal markets 2019

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