Please excuse me if I sound green to all of this - but I am.
I notice many people wanting to buy their 1st IP in the city areas - and the prices (along with the mortgage repayments), just give me heart palpatations, never mind if you get a bad tennant. Really, when you are starting off, I just dont see how you can afford these properties, unless you mortgage your soul.
So has anyone started off building their portfolio by buying in the country? Yes I know that the growth would be slower, but spending $172K for a sound 3 bedroom house with an expected rent of approx $160 - $170 p/w - wouldnt this be a better option?
Sorry if my question sounds dumb.
I notice many people wanting to buy their 1st IP in the city areas - and the prices (along with the mortgage repayments), just give me heart palpatations, never mind if you get a bad tennant. Really, when you are starting off, I just dont see how you can afford these properties, unless you mortgage your soul.
So has anyone started off building their portfolio by buying in the country? Yes I know that the growth would be slower, but spending $172K for a sound 3 bedroom house with an expected rent of approx $160 - $170 p/w - wouldnt this be a better option?
Sorry if my question sounds dumb.