Hi All,
I'm 25 years old, currently residing in Melbourne. I've had an interest in property for the longest time and would love to eventually be in a financial position where I'm comfortable enough to get out of the rat race and concentrate on investing in properties. I'm currently looking into purchasing my first IP in the next couple of years or so.
I was lucky enough to purchase my PPOR with the help of my grandparents. Currently worth $480k approx, owing $190k. My income is 54k plus super but little savings thus far.
I'm looking at purchasing around the $450k mark. I've looked into home and land packages in Plumpton, Tarneit etc however they don't appeal to me too much as I think these areas are more targetted to young/ first home buyers. I've also looked into 2bdr apartments near the CBD i.e. Docklands but it seems as though the apartment prices have been the same for a while now.
I think my strategy is to focus on CF rather than CG at this stage, however eventually would like to have a mixture of both in my portfolio. Is this okay? Or should I concentrate more on CG at this point?
Thank you and looking forward to reading your opinions
I'm 25 years old, currently residing in Melbourne. I've had an interest in property for the longest time and would love to eventually be in a financial position where I'm comfortable enough to get out of the rat race and concentrate on investing in properties. I'm currently looking into purchasing my first IP in the next couple of years or so.
I was lucky enough to purchase my PPOR with the help of my grandparents. Currently worth $480k approx, owing $190k. My income is 54k plus super but little savings thus far.
I'm looking at purchasing around the $450k mark. I've looked into home and land packages in Plumpton, Tarneit etc however they don't appeal to me too much as I think these areas are more targetted to young/ first home buyers. I've also looked into 2bdr apartments near the CBD i.e. Docklands but it seems as though the apartment prices have been the same for a while now.
I think my strategy is to focus on CF rather than CG at this stage, however eventually would like to have a mixture of both in my portfolio. Is this okay? Or should I concentrate more on CG at this point?
Thank you and looking forward to reading your opinions