I'd like to start off by saying hello all as I am new to somersoft
I'm 21yrs old and am an apprentice diesel mechanic (3rd yr)
I've been very interested in property investment for a fair while now
As I'm an apprentice I don't have a fair amount of money to work with and will mostly be relying on a loan and gearing it.
To start off I was thinking of a relocatable home in a caravan park
I understand that the rent will have to cover the ground rent, loan repayment, and some left over to be kept in a bank account for repairs (which I will do minors myself) and when property is un-occupied.
Has any1 done this? Success? no success?
So pretty much what I'm asking is this a good or terrible idea?
if its terrible what are some other idea's on low wage or loans under $50,000
Any feedback is good...I want to LEARN!!
Thanks
Nathan
I'm 21yrs old and am an apprentice diesel mechanic (3rd yr)
I've been very interested in property investment for a fair while now
As I'm an apprentice I don't have a fair amount of money to work with and will mostly be relying on a loan and gearing it.
To start off I was thinking of a relocatable home in a caravan park
I understand that the rent will have to cover the ground rent, loan repayment, and some left over to be kept in a bank account for repairs (which I will do minors myself) and when property is un-occupied.
Has any1 done this? Success? no success?
So pretty much what I'm asking is this a good or terrible idea?
if its terrible what are some other idea's on low wage or loans under $50,000
Any feedback is good...I want to LEARN!!
Thanks
Nathan