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Just stuck in two minds whether I should buy my first investment property (house) in Frankston as its still cheap in some parts, and then would subdivide and build another on there. Hopefully get a corner block so I will have two street frontages. Or I can buy a house in west Melbourne...

Yeah that sounds like a good idea, I will definitely do that. I seen some nice houses in sunshine in the sold section that went for low 300s which is a refreshing sign, hopefully will stay that way until im ready to purchase. Is It 100% necessary to put down 20% to save on mortgage...

Also, for sunshine would it be hard getting tenants into a house? I would really need to have it rented out almost all the time.. a few months here and there isn't too bad, but upwards of 6 months would be hard.

Yeah i am definitely after a house, so around the sunshine area will be best, have been reading abit about it and it seems pretty good, have come across some houses for around 350k, so there are some places at the bottom end of my budget which is good. I know what you guys mean by footscrays...

Nah haven't considered sunshine, but it is abit cheaper and nicer looking then footscray, I'm going to research that suburb and see what it's like. Thanks for the recommendation.

Yeah theres a lot of improvements happening so yeah hopefully it will do well. I know the budgets abit cheap, but I have seen a couple of small houses going for 380-450.. But could also pick up a unit for abit less then that, would rather a house though. As a 23 year old, I am jus...

Im looking at buying an investment property in Melbourne for around 350-450 max. I have been looking at footscray, as I have been reading good things about what it might be worth in the next decade or so, I would be mainly after capital gain as apposed to yield. Is there a good area to be...

I suppose if it doesn't go up then I would be able to sell for 300k in my Pocket. Or keep renting it out for 1200 a month in my pocket also. Another way i could think about it is that it would be like saving a deposit for a 600k house. If prices fell where my house is, then same would go for...

Yeah I could do that, as long as it still drops the interest payed on the loan. After one year we Should have 50k in there so that would be a good idea yea.

Yeah I know what you mean, I wouldn't be happy, but I know if I buy on the bottom of the market then the chances of it going any less then 270ish in 10 years is pretty slim. So if it makes capital gain, then sweet but if it stays where it is then it would still be ok as I could sell it for 300k...

Yeah I know but I don't have much experience in this, I just thought that I'd try pay it off as quickly as I could.. How do people usually do it?

I'm just thinking 10-15 years down the track. I'm not worried about the market going down abit, as long as we can pay the houses off so that we don't have to struggle payin them off when there's no tenants.

I just thought that if we use the 1200 per month rent, and also add 3200 a month out of our pockets for 1-2 years. Then after that just pay It off gently for 5-8more years. I just think it will be easier to live, knowin that we can Always sell for 200-300 or whatever it may be. During that...

Ahh ok. Would it all still affect me when I'm pretty much buying 50-60k under the medium price? I'm happy to take a hit a little bit, as I would have this house for 10 or more years.. Whilst I will pay it off within that time also. For 280k I can get a 600-900 sqm land, 3bed, 2bath, 2cars. Which...

I just think that 5-10 years down the track it will be alot more built up and so prices will go up also. ATM it is pretty cheap so thought it would be one of the best places for a budget of 300k.. Depends if it's easy to rent it out there or not. unless u have any other suggestions?

how much would we save on stamp duty as a first home buyer?

Hi guys, im new to the forum. Im 23 years old and wanting to buy an investment property to rent it out for about 1-2 years. My girlfriend and I currently have around 40k deposit on a house we hope to buy for around 280k - 300k in Pakenham, Victoria. If we could rent it out for 270-300 pw...