Hi SS,
I have read a lot of take home messages on this forum and now browse daily, I was hoping to get some advice/tips for my situation from any body that is willing to assist.
I am a 23yo, still living at home, expecting to get full time employment in the coming weeks (50k per annum) and bought a 2 bedroom townhouse 12 months ago for 500k in bayside melbourne (18km from CBD) with a 400k loan. I have a 100% offset account and have an interest only loan.
As I'm sure many of you can appreciate, I am continually learning about property investment. The property is rented out for $380 p/w (I know this isn't a great yield), this is party because I bought this property as not only an investment, but a property I would like to move into it in a couple of years as I am not to keen on renting myself.
My question for all of you still reading is what advice would you give to someone in my situation, If my gold was to create wealth through property investment? Keep in mind at this stage I am not interested in renting myself when I move out, I do not want to be in a position where I am asset rich but living off bake beans, I do not particularly want to live with my parents forever haha, I have thought about doing up my property as it is unrenovated and is in a good location (Beach Rd), I am not sure if I could claim FHBG if i bought a second property before ever moving into my first property and I would like to buy a second property before 26yo or whenever I was in a position to do so.
Alot to absorb there, I would highly appreciate any responses in relation to the above or even just any tips/advice to a 23yo happy to listen. Keep up the good work all you active posters.
Regards, Cmack
I have read a lot of take home messages on this forum and now browse daily, I was hoping to get some advice/tips for my situation from any body that is willing to assist.
I am a 23yo, still living at home, expecting to get full time employment in the coming weeks (50k per annum) and bought a 2 bedroom townhouse 12 months ago for 500k in bayside melbourne (18km from CBD) with a 400k loan. I have a 100% offset account and have an interest only loan.
As I'm sure many of you can appreciate, I am continually learning about property investment. The property is rented out for $380 p/w (I know this isn't a great yield), this is party because I bought this property as not only an investment, but a property I would like to move into it in a couple of years as I am not to keen on renting myself.
My question for all of you still reading is what advice would you give to someone in my situation, If my gold was to create wealth through property investment? Keep in mind at this stage I am not interested in renting myself when I move out, I do not want to be in a position where I am asset rich but living off bake beans, I do not particularly want to live with my parents forever haha, I have thought about doing up my property as it is unrenovated and is in a good location (Beach Rd), I am not sure if I could claim FHBG if i bought a second property before ever moving into my first property and I would like to buy a second property before 26yo or whenever I was in a position to do so.
Alot to absorb there, I would highly appreciate any responses in relation to the above or even just any tips/advice to a 23yo happy to listen. Keep up the good work all you active posters.
Regards, Cmack