new age investor...

Hi all,

Thank you to take the time reading this thread.

I'm new to investment and never had any experience in property investment b4, i started to read alot of books on property investment and found that alot of them did not reflect reality (don't get me wrong some are very helpful).

But after some real life research and crunching a few numbers I found that
buying a positive cashflow property now a day are near to impossible.

Any suggestion? I want to start young (I'm only 24 by the way) but the housing price now a day are just way to high for my maximum loan allowance
(only $243,000) :(

thx
 
Welcome to the forum, investor 2008!

It is much harder to buy CF+ properties in this market, but they do exist. Have you read Margaret Lomas's new book, "20 Must Ask Questions for Every Property Investor" - she outlines the process that she follows to research areas which may have CF+ (or near to CF+) properties.

Also, when you are doing your 'number crunching', don't forget to take into account FHOG and non-cash deductions like depreciation - they can make quite a difference to the figures you come up with.

Enjoy your investing journey!

Cheers
LynnH
 
WOW :eek: :eek: :eek: Zhouse01

Your're rich....... I can't come up with those kind of money and I can not afford those kind of home loan.

Thanks all, I guess more study and keep on looking for me then. This is kind of depression knowing not much I can do to change this situation.
 
Noticed that you are from Melbourne - why don't you check out properties in the Frankston area - I just did a search and there are houses and units within your price range. (Also have a read of the thread 'purchasing in Frankston area')
 
You might want to consider the Frankston, Langwarrin and Carrum Downs areas.
Especially Langwarrin and Carrum Downs. Both these suburbs should benefit from a spillover effect from Frankston's recent boom as Frankston gets more and more expensive. Both of these areas are also relatively cheap and will benefit from the new M3 as much as Frankston has.
 
Look harder - I started at 24 and IP 1 cost 65K.
But in what year and what area? We bought our first in 2008 for $65,000 (expected rent $150pw) but since we bought it the closest thing I've seen to it in the same town is a $95,000 run down fibro dump so even in regional SA it is very hard to find houses for that price. We just got lucky and lowballed a mortgagee sale.
 
Top