Search results

They will be in pain when they lose their jobs due to a house pricing crash meaning they can't afford a home anyway

I understand. Buying bayside would definitely be more of a PPOR decision because generally bayside property yields are pretty awful (2-3% gross yield). I think we can safely say that borrowing for you won't be a problem because of the additional rental income from purchasing future IPs. The...

So you are self-employed? The next question of whether you can afford a place now depends on whether you have the 2 years of financials etc. But assuming you have those and you are a good borrower, you can really afford to buy something quite substantial, even in St Kilda. For me, a property...

Actually the best thing for you (very generally) to do is keep the PPOR and borrow off it to invest in other investment properties to maximise your tax deductions. But I don't know what type of properties you are looking for, where you're looking at, or whether you even want to buy property at all!

You can buy a lot with those figures

Yep coastymike - I have friends (myself included) who got high year 12 scores and ended up working as a lawyer on a lousy 50-60k p.a. But that's how it is these days - no matter how smart you are a PAYG job just doesn't cut it

Professional services haven't moved because there's so many profesional services workers now. Everyone goes to university to be an accountant, lawyer, IT programmer etc.

Add the 'Great Big Tax on Everything' into the mix. Good thing I don't have to borrow money from Australian banks