What should I do

[The_Pharoah]

hi all

first time poster - yada yada yada

Here's my situation:
30 y/o, 2 kids, partner about to go back to work, live in Brisbane and I earn roughly $95k (package). We had a house but sold it in Feb to pay off debts and now we're sweet. My issue is:

Option 1
save up or take a 105% loan to build a new house in the outer suburbs of Brisbane (lowset house for approx $170k + $170k land = $360k total incl duty)

or

Option 2
buy an investment property for say $240k in Goodna (crappy house like a lot of houses that price now), and sit on it for a few months till hopefully we get more equity in the house.

What should I do? Investing has never been my thing.

 

[alexlee]

Then you really should make investing your 'thing'. Read a few books and put together a budget and a long term plan. What do you want in 5 years, 10 years, 20 years? That will determine what you should do. Say in your case you make a couple of k on the Goodna property if you buy it. What will you do then? Or you buy your own place. What then? Do you want IPs to fund your retirement? If so, how do you think they will do that?
Alex