Hello fellas,
Newly registered on this board which I've been looking for a coupla weeks I would like to introduce myself and get as much feedback as I can from fellow wise Perth investors on my situation.
I'm 27 and very keen to start a port-folio in Perth.
I'm lucky enough to have made great savings over the past 3 years working in the resources industry consisting of a bit less than 180k at this stage (I really don't intend to show off, it's purely to give you a better picture of my financial situation).
Thing is: "lot of cash, no assets".
Hence I'm now on the perfect first investment property hunt.
From what I can gather so far from the internet (somersoft), meeting with pros (momentum wealth consultant and financial advisor from my company), one aggressive strategy could be:
- Get 1 or 2 big blocks (750+sqm) of old state estate within 15km from CBD.
- Develop one (in building 3 units) when able and keep rents coming for the 2nd one.
- Repeat when able for the second big block.
Are Balga, Kewdale, Inaloo good suburbs to start with?
Am I better off buying one blue chip property close to CBD instead of looking at developing risky options in the above suburbs?
Do you guys estimate that it would be beneficial to fix the mortgage rate for the first say 3 years at the moment?
Big question is: what would you do if you were in my situation?
I'd be happy to hear from ya as I feel slightly reluctant to give 20k to a buyer's agent!
Cheers.
Newly registered on this board which I've been looking for a coupla weeks I would like to introduce myself and get as much feedback as I can from fellow wise Perth investors on my situation.
I'm 27 and very keen to start a port-folio in Perth.
I'm lucky enough to have made great savings over the past 3 years working in the resources industry consisting of a bit less than 180k at this stage (I really don't intend to show off, it's purely to give you a better picture of my financial situation).
Thing is: "lot of cash, no assets".
Hence I'm now on the perfect first investment property hunt.
From what I can gather so far from the internet (somersoft), meeting with pros (momentum wealth consultant and financial advisor from my company), one aggressive strategy could be:
- Get 1 or 2 big blocks (750+sqm) of old state estate within 15km from CBD.
- Develop one (in building 3 units) when able and keep rents coming for the 2nd one.
- Repeat when able for the second big block.
Are Balga, Kewdale, Inaloo good suburbs to start with?
Am I better off buying one blue chip property close to CBD instead of looking at developing risky options in the above suburbs?
Do you guys estimate that it would be beneficial to fix the mortgage rate for the first say 3 years at the moment?
Big question is: what would you do if you were in my situation?
I'd be happy to hear from ya as I feel slightly reluctant to give 20k to a buyer's agent!
Cheers.