Hi All,
A year ago I managed to make the first step into what I hope will be a career in property investment by buying my first IP at 24.
Now im looking to buy my second and am needing some advice, I was lucky enough to buy my first IP $20,000 under the asking price with the great help of a brilliant BA (Paul from Logica).
I bought the house for $260,000 at Morphett Vale, it is currently rented at $275 per week (seems cheap at current rental prices in the area) its a neat and clean 3 bedroom house with 1 bathroom in a quite cul-de-sac, it has a lot of potential to be a beautiful property at Morphett Vale.
Currently I have $10,000 saved, im thinking to do a little work on my current property (bathroom needs new vanity and kitchen could do with un upgrade) then hopefully get it revalued and use the capital on that property to be able to borrow for my next.
Does anyone have any advice or a different way of achieving a profitable second IP??
A year ago I managed to make the first step into what I hope will be a career in property investment by buying my first IP at 24.
Now im looking to buy my second and am needing some advice, I was lucky enough to buy my first IP $20,000 under the asking price with the great help of a brilliant BA (Paul from Logica).
I bought the house for $260,000 at Morphett Vale, it is currently rented at $275 per week (seems cheap at current rental prices in the area) its a neat and clean 3 bedroom house with 1 bathroom in a quite cul-de-sac, it has a lot of potential to be a beautiful property at Morphett Vale.
Currently I have $10,000 saved, im thinking to do a little work on my current property (bathroom needs new vanity and kitchen could do with un upgrade) then hopefully get it revalued and use the capital on that property to be able to borrow for my next.
Does anyone have any advice or a different way of achieving a profitable second IP??