Hi guys!
This is my first post on the forum so please forgive any contraventions of protocol.
I have unluckily/luckily been awarded roughly $350k from a compensation claim (long story) that I am looking to use for my first IP.
Background: I am currently in uni and have a low income at the moment, so my borrowing power will top about 450k max.
I have been looking to invest for about 8 months now. I have been struggling to get my head around viable areas to buy, with good CG & yields, especially in Sydney (where I live).
My strategy is to buy and hold, so CG is really important to me. Yet, i'm also looking to be positively geared (which in my financial position, is easily attainable), as my income is quite low, so the financial risk + tax benefits of negative gearing wont really suit me.
My options seems to be;
Sydney - buy an apartment out west (Liverpool, Blacktown e.c.t.)
Brisbane - buy a relatively cheap house in areas like Hilcrest, Marsden, Arana Hills. Also have considered inner city apartments for my price range, however i feel like there may be an oversupply.
Melbourne - Haven't really done much research on investing in Melbourne.
I have a fairly limited knowledge in investing, as I am still in my early twenties and have little guidance from anyone. I am unsure of whether to buy an apartment in Sydney (as i know the market), or to bite the bullet and go house interstate.
If you guys were in my position, how would you attack buying your first IP?
This is my first post on the forum so please forgive any contraventions of protocol.
I have unluckily/luckily been awarded roughly $350k from a compensation claim (long story) that I am looking to use for my first IP.
Background: I am currently in uni and have a low income at the moment, so my borrowing power will top about 450k max.
I have been looking to invest for about 8 months now. I have been struggling to get my head around viable areas to buy, with good CG & yields, especially in Sydney (where I live).
My strategy is to buy and hold, so CG is really important to me. Yet, i'm also looking to be positively geared (which in my financial position, is easily attainable), as my income is quite low, so the financial risk + tax benefits of negative gearing wont really suit me.
My options seems to be;
Sydney - buy an apartment out west (Liverpool, Blacktown e.c.t.)
Brisbane - buy a relatively cheap house in areas like Hilcrest, Marsden, Arana Hills. Also have considered inner city apartments for my price range, however i feel like there may be an oversupply.
Melbourne - Haven't really done much research on investing in Melbourne.
I have a fairly limited knowledge in investing, as I am still in my early twenties and have little guidance from anyone. I am unsure of whether to buy an apartment in Sydney (as i know the market), or to bite the bullet and go house interstate.
If you guys were in my position, how would you attack buying your first IP?