Currently I'm still in the (pretty intense) education process before I begin proceedings to actually acquire my first investment property. Goal is to purchase by first quarter 2008.
FYI - I'm a 22 y/o guy, living with parents, full time employed with some other minor income from minor personal projects (ebay, website, shares etc.).
I've thrown some figures into some loan calculators and determined that my purchasing power isn't all that great...whilst I'd love to consider a small house in Sydney, it's looking like I am going to have to consider something much more basic such as a unit...if I go at it alone.
One alternative that has come to mind is a partnership with another person in order to increase purchasing power. I have heard some horror stories about partnerships (and also some good ones too)...but I am very hesitant to go into such a relatively big investment with someone else.
Very keen to hear anyone elses thoughts on the matter, whether or not a partnership is something worth considering in the early stages of your investment career?
FYI - I'm a 22 y/o guy, living with parents, full time employed with some other minor income from minor personal projects (ebay, website, shares etc.).
I've thrown some figures into some loan calculators and determined that my purchasing power isn't all that great...whilst I'd love to consider a small house in Sydney, it's looking like I am going to have to consider something much more basic such as a unit...if I go at it alone.
One alternative that has come to mind is a partnership with another person in order to increase purchasing power. I have heard some horror stories about partnerships (and also some good ones too)...but I am very hesitant to go into such a relatively big investment with someone else.
Very keen to hear anyone elses thoughts on the matter, whether or not a partnership is something worth considering in the early stages of your investment career?
