Where to Start

[ad5]

Hi all,

I'm considering an IP as an investment strategy and want to take the next/right steps.

I would really like to know if an IP is feasible for us and if its a sensible investment in our scenario. Ideally I would like to purchase in Adelaide as that's where I live and hold for 5-10 years for a decent capital gain. I really need to work out how much this will costs us (down to a weekly amount) and if its something we can actually afford.

What resources should I be checking or should I be speaking to an expert, if so any suggestions?

Thanks

 

[The Y-man]

What resources should I be checking or should I be speaking to an expert, if so any suggestions?

I suggest you talk to a good mortgage broker first - see what you can borrow (funny thing about this biz is, the banks shoukd stop lending to you long before you can stop affording it)

The Y-man

 

[Brady]

Hi all,

I'm considering an IP as an investment strategy and want to take the next/right steps.

I would really like to know if an IP is feasible for us and if its a sensible investment in our scenario. Ideally I would like to purchase in Adelaide as that's where I live and hold for 5-10 years for a decent capital gain. I really need to work out how much this will costs us (down to a weekly amount) and if its something we can actually afford.

What resources should I be checking or should I be speaking to an expert, if so any suggestions?

Thanks

You will need to do your own research regarding where and what to purchase, I wouldn't take advice from anyone trying to sell you anything.

If you're unsure if it's going to be feasable I would highly suggest first sitting down with a decent banker or broker. Doesn't have to be one or the other just make sure you can trust them and they know what they are doing.

Once you have established how much you can afford and more importantly what you believe you're comfortable to borrow, they you can start looking in a particular price bracket.

The Adelaide market in selected areas was doing quiet well in the last 9months, I'm very interested to see how the start of this year pans out.

 

[Corey Batt]

Definitely sounds like you need to work out what this financially, but also understand how to correctly structure the finance for an investment property purchase so that it provides you with the maximum benefit.

Your personal circumstances can directly influence how you should proceed, whether you are renting/live at home with parents/own home mortgage etc.

In any case, welcome to the forum and congratulations in making the first steps by increasing your knowledge.

 

[Coota9]

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