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From: Lan Diep
Hi All
I have a dilemma.
I have two choices.
1. Buy my first IP house in my area ($200K) which is an outer city suburb. Of which I will need to put in an extra $100-200p/m for mortgage repayments. As rentals for houses in my area is about $800-1000p/m.
OR
2. Buy my first IP house in an inner city suburb area (within 15k of CBD) for $300-$350. This will mean I will need to put in $500-800 p/m on top of the monthly rental to make the interest only repayments.
Option 1 - allows me to safely purchase an IP property without too much financial commitments.
Option 2 - allows me greater capital growth however puts a strain on my cashflow.
After all my expenses are taken out of my salary I usually have around $1000 -$1500 left for savings.
Please help! It's always the first purchase that is hard to make...
Lan
Hi All
I have a dilemma.
I have two choices.
1. Buy my first IP house in my area ($200K) which is an outer city suburb. Of which I will need to put in an extra $100-200p/m for mortgage repayments. As rentals for houses in my area is about $800-1000p/m.
OR
2. Buy my first IP house in an inner city suburb area (within 15k of CBD) for $300-$350. This will mean I will need to put in $500-800 p/m on top of the monthly rental to make the interest only repayments.
Option 1 - allows me to safely purchase an IP property without too much financial commitments.
Option 2 - allows me greater capital growth however puts a strain on my cashflow.
After all my expenses are taken out of my salary I usually have around $1000 -$1500 left for savings.
Please help! It's always the first purchase that is hard to make...
Lan
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