Hi all, my partner & I have just bought our 1st IP at Stafford Heights - it's a 40yr old 3 br house - they were asking $339k 3wks ago, but we finally got it for approx $298k. So our journey begins, my main motivation being not working 9-5 for someone else!
One question I would like people to respond to is that the main risk I see for the beginner like me is if I lose my job & so do I a/ panic & sell up or b/ wait a few months to see if I can get another job. I would guess that if u sell within 1yr u would probably loose money depending on the market due the high entry/exit costs.
Thks in advance for your responses
Cheers PeterH
One question I would like people to respond to is that the main risk I see for the beginner like me is if I lose my job & so do I a/ panic & sell up or b/ wait a few months to see if I can get another job. I would guess that if u sell within 1yr u would probably loose money depending on the market due the high entry/exit costs.
Thks in advance for your responses
Cheers PeterH