Hi,
I am a new investor. I bought my first unit at 127k, with a loan of 112k currently remaining. The unit is valued at 187k.
I am new to investing but constantly read magazines, articles and i research everything. I am new to certain terminology however i am gaining some idea by researching the words.
I am currently in the process fo changing employers. Full time $777 gross weekly. There is no probation period and my new employer is willing to sign off on that. My partner earns 45k per annum and has also just changed employers. We start on the 2nd August.
We have approx 10k deposit and want to purchase up to 250k.
He has a 23k debt and i the loan etc. No credit cards or other debts.
But we do not know how long to wait and i do no want to make too many enquiries as they count on the credit report.
I do not want to sell the IP unit.
The unit is on a fixed rate due to expire 30/11/2010 @ 8.09% (which before GFC was good, apparently) So i do not want to break and re finance that as i do not know if that is in my best interest, and i do not want to ask a bank for advice.
Anyone know how i can go about buying a property, it will at first be PPOR then a year or so IP as we have to move for his work.
J
I am a new investor. I bought my first unit at 127k, with a loan of 112k currently remaining. The unit is valued at 187k.
I am new to investing but constantly read magazines, articles and i research everything. I am new to certain terminology however i am gaining some idea by researching the words.
I am currently in the process fo changing employers. Full time $777 gross weekly. There is no probation period and my new employer is willing to sign off on that. My partner earns 45k per annum and has also just changed employers. We start on the 2nd August.
We have approx 10k deposit and want to purchase up to 250k.
He has a 23k debt and i the loan etc. No credit cards or other debts.
But we do not know how long to wait and i do no want to make too many enquiries as they count on the credit report.
I do not want to sell the IP unit.
The unit is on a fixed rate due to expire 30/11/2010 @ 8.09% (which before GFC was good, apparently) So i do not want to break and re finance that as i do not know if that is in my best interest, and i do not want to ask a bank for advice.
Anyone know how i can go about buying a property, it will at first be PPOR then a year or so IP as we have to move for his work.
J