Where to buy in melbourne with $50k in the bank?

[CosmicTrevor]

Torn

DrInvestor, I admire what you have saved and it is also a great thing that you are already thinking about growing your asset base early on.

I'm going to play devils advocate here and suggest slowing down.

The one huge advantage you have is time on your side, for this reason I wouldn't feel compelled to act right now. This is partly because you haven't reached your earning potential and partly because at 19 you have some living you might like to do. I'm a bit concerned that you might be taking on too much responsibility too early.

If things go awry they could upset your study plans, hence my thinking that it is worth slowing down a little.

You have lots of time to do research, ask lots of questions and then make a decision and while doing this your deposit base should be growing.

If you are worried about getting priced out of the market because it is moving fast then consider other markets instead of feeling as though you need to jump in.

As I said you have great intentions and a solid foundation, so kudos to you and good luck.

Trev

 

[bernie006@hotma]

Congrats on saving50grand.
I have 5 properties n ll have 2more very soon.
For you, pls find out how much u can borrow.
I guess 250000ish.
Look at bendigo, I bought 2 houses there few months ago.
U ll get 6to8 percent return.
And ballarat looks good.
I put in a offer of 125000 for 2bedder returning 165/wk.
Since u just start agents in melbourne are mostly not great.
Your first experience ll b positive in bendigo etc.
We bought property there, agent didnt even take a deposit.he said"all good" most agents there give you the real information"what property is worth etc.
Our agent said offer 125000 even sellers want more but property isn TNworth that much etc.
Just pleasant experience