Young investor confused of where to start

[Ridin-High]

Hi Young melb guy, this is a copy paste from another thread

"What i think is very important is firstly you set a goal that you want to achieve from your investing, it's usually to replace or supplement your income.

Example: Mine is replace work income after tax, income to be indexed with inflation (growth assets, Resi property and diversifed share basket), passive (besides lite managing resi property) and be sustainable (not drawing down on capital to achieve income target) and in 12 yrs from now.

I have a rough road map of how to get their as well.

Thankfully goal setting and planning is something i learned from this forum and understand its importance.

Regards,
"

 

[BuildingBlocks]

I have a budget of between 380,000 and about 470,000 in order to buy this property and havebeen looking for an apartment/house but im currently hitting a wall as there is endless options.

Don't limit yourself to a particular area or think that you need to spend every $ that you can borrow until you check out all the options. You may get better cashflow/growth out of something significantly cheaper which will allow you to build your empire faster in the long run.

See what is in other parts of Victoria, interstate and all types of properties. If a N.Melb apartment/house then comes up the top of your list then look further into that.