Howdy people,
I'm keen to start looking into buying my second property.
I owe $195k on a House worth about $280-$300k
It's rented out at $250pw
I pay $60pw board and I have $20k savings.
Currently on $43k a year with a new job that I started 4 weeks ago.
Can see my main problems being, I've only just started new job and i've also only got a 4yr full time contract.
I'd really like to buy a unit in Frankston or Seaford so would need to borrow between $200-$250k.
I'd like to live in the unit or if i can't afford to will rent out and continue boarding where I am.
Anyhoo, just not sure what is the best way to go about things.
What would you do in my position?
I'm not looking to own heaps of places but would like to own about 3 in the next 5-10yrs and be able to afford to live in my P.P.O.R
I'm keen to start looking into buying my second property.
I owe $195k on a House worth about $280-$300k
It's rented out at $250pw
I pay $60pw board and I have $20k savings.
Currently on $43k a year with a new job that I started 4 weeks ago.
Can see my main problems being, I've only just started new job and i've also only got a 4yr full time contract.
I'd really like to buy a unit in Frankston or Seaford so would need to borrow between $200-$250k.
I'd like to live in the unit or if i can't afford to will rent out and continue boarding where I am.
Anyhoo, just not sure what is the best way to go about things.
What would you do in my position?
I'm not looking to own heaps of places but would like to own about 3 in the next 5-10yrs and be able to afford to live in my P.P.O.R