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From: Don Slade
I am looking to buy my first IP. I have looked at all manner of tactics:
Buy and hold
Buy renovate and hold
Buy reno and sell
Buy off the plan
Lease Options
Options trading
Site development
etc.
I want to keep it simple, at least for the first time. With that in mind I am tending towards the Buy and Hold strategy. I also want my first property to be a sling-shot into my second. Waiting for it to appreciate before I can do deal no.2 doesn't appeal.
Does anyone have any smart tips on how I can get into property no.1 using only a minimum of cash (approx 25k)and misc borrowings (20k)such that I can get property no.2 with just spare change (because thats all I'll have after the 25+20k is gobbled up in fees, tax and deposit)- this year in the Melbourne market.
Thanks
Don
I am looking to buy my first IP. I have looked at all manner of tactics:
Buy and hold
Buy renovate and hold
Buy reno and sell
Buy off the plan
Lease Options
Options trading
Site development
etc.
I want to keep it simple, at least for the first time. With that in mind I am tending towards the Buy and Hold strategy. I also want my first property to be a sling-shot into my second. Waiting for it to appreciate before I can do deal no.2 doesn't appeal.
Does anyone have any smart tips on how I can get into property no.1 using only a minimum of cash (approx 25k)and misc borrowings (20k)such that I can get property no.2 with just spare change (because thats all I'll have after the 25+20k is gobbled up in fees, tax and deposit)- this year in the Melbourne market.
Thanks
Don
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