what to do next

[slinky214]

I am just looking for peoples thoughts on what i should do, i feel like Im just saving and waiting for my first investment to be finished, is that the right thing to do or should I be using my spare cash each week to have second property?

Here is the back ground of my situation:
I brought my property off the plan and it wont be completed until late 2015, i paid a 10% of $42000. I plan for it to be an investment property, its in a good location and will be easy to rent out which will cover most of the mortgage. In the mean time I am wondering if i continue to save for another 6 months secure another deposit around 30-40K (I have 14K already and can save 1400-1800 per fortnight) and use that to buy a second IP, this time i want to buy already established. Or buy a place to live myself? I currently rent in a good location from family and only pay $125 a week. Or do I buy another investment property now?

Thanks in advance for your thoughts and advise.

 

[Singo]

Buy another investment property. You may consider buying one which can later become your PPOR. But plan what you want to achieve by buying.

What are your goals? What is your strategy?

 

[Colin Rice]

Take advantage of your current rental situation to save as much as possible for as long as you can IMO.

Look for a property that you can "add value" too.

 

[see_change]

Save and Buy .

Sounds like you have a reasonable income , very good saving habits or living at home .

Why stop at one more ... But if you do , look for somewhere that hasn't gone up much in current cycle , so you have potential for more growth.

Cliff