W
WebBoard
Guest
From: Peter Davidson
I am about to purchase my first investment property in Melbourne outer suburbs, approximately 16km out of the city and is about 30 years old. My dilemma is that should I buy this property(330K). It's currently leased out at $260 p/w. I have a $55K deposit and I earn $75K and my wife earns $50K per year, before tax.
Should I put all my efforts into 1 expensive house or buy a cheaper house further out from the city. Capital growth and rent won't be as good, but it also allows me to save up more to put into another house later on.
I suppose I'm going for Capital growth more than anything, but a good rent would also be nice.
Please help as I'm new to this and I'm not very good with numbers. What is my best path?
Thanks for your advise.
I am about to purchase my first investment property in Melbourne outer suburbs, approximately 16km out of the city and is about 30 years old. My dilemma is that should I buy this property(330K). It's currently leased out at $260 p/w. I have a $55K deposit and I earn $75K and my wife earns $50K per year, before tax.
Should I put all my efforts into 1 expensive house or buy a cheaper house further out from the city. Capital growth and rent won't be as good, but it also allows me to save up more to put into another house later on.
I suppose I'm going for Capital growth more than anything, but a good rent would also be nice.
Please help as I'm new to this and I'm not very good with numbers. What is my best path?
Thanks for your advise.
Last edited by a moderator: