I don’t know if I should buy a block of land to sit on until I am in a better financial position to build . ( recently divorced , credit rating ruined for five years). Should I buy a flat and rent it out. I am renting and working part time.
A block of land won’t generate an income so unless it’s going to appreciate in value – it might not be a good investment.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Agree with Jamie.
Wouldn’t buy vacant land but look at a cheaper property with some element of gearing.
Make sure whatever you buy generates at least $200 / week as the cost of repairing an oven or a stove is the same for a $150K property as it is for one costing $300K.
Big difference is at $150K it might be 3 weeks rent whereas at $300K it might only be 1 week.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Thanks guys , I am going to put it in term deposit for six months and go from there.
I’m looking at property in loch sport, vic. Getting negative and positive info. Very confused. I intend to live there in winter months and rent out in summer. Only interested in future growth of capital not rental income . Please help
Tracey, have you looked into Steve’s McKnight Property Apprenticeship course? Whether it’s his training or someone else’s, I’d suggest educating yourself. Private message me and we can set up a complementary mentoring call to discuss your situation and your options moving forward.
Jason Staggers | JasonStaggers.com
http://jasonstaggers.com
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