Hi everyone,
First of all, I apologise for the long post.
I have been reading this forum sporadically and have only recently registered. It has been a very informative and great resource so far and I have really been inspired by many members on here!
I thought I'd better introduce myself before doing too much else. My name is Jen and I'm a 25 y.o. lawyer with a commerce degree. Hopefully that will assist with property investing.
I bought my first PPOR in September 2009 and currently own shares, but am looking to purchase my very first IP in the next few months (once I receive the results of my performance review, of course).
Given the amount of information, I'm not quite sure where to even start. It seems that the more I read, the more I realise how little I know! Quite a humbling experience. I have a few questions specific to my circumstances. They are as follows:
I should probably start with a good mortgage broker in Adelaide to determine how much equity I have built up in my PPOR since Oct 2010, so I definitely welcome any suggestions.
Thanks for taking the time to read! I am very interested to hear what you all have to say.
First of all, I apologise for the long post.
I have been reading this forum sporadically and have only recently registered. It has been a very informative and great resource so far and I have really been inspired by many members on here!
I thought I'd better introduce myself before doing too much else. My name is Jen and I'm a 25 y.o. lawyer with a commerce degree. Hopefully that will assist with property investing.
I bought my first PPOR in September 2009 and currently own shares, but am looking to purchase my very first IP in the next few months (once I receive the results of my performance review, of course).
Given the amount of information, I'm not quite sure where to even start. It seems that the more I read, the more I realise how little I know! Quite a humbling experience. I have a few questions specific to my circumstances. They are as follows:
- I approached my current lender in Oct 2010 and was advised that I can only borrow approx $150k. Only interested in houses at this stage. Obviously not much I can get for $150k. I have the possible option of investing with my mum and/or partner. Should I invest with them, or save up more and buy something by myself later?
- I want to purchase an IP sooner rather than later. If I invest by myself, I would be forced to look at houses either far north or far south. Is that advisable given potential dodgy tenants, and being such an extreme newbie?
- Have most people bought IPs in their own names, or through a company for tax benefits?
I should probably start with a good mortgage broker in Adelaide to determine how much equity I have built up in my PPOR since Oct 2010, so I definitely welcome any suggestions.
Thanks for taking the time to read! I am very interested to hear what you all have to say.