young investor needs location advice!

[eager]

Hello all,

I am a first time investor/buy and I am interested in buying an investment property in NSW.The maximum I will spend is $400,000. I am struggling to decide whether I should purchase a house or an apartment, and which area's I should invest in.
My partner suggests that I should purchase a house in Campbelltown, but I do not know much about the location.
All suggestions are greatly appreciated.
Thank you

 

[Rooster]

Hello all,

I am a first time investor/buy and I am interested in buying an investment property in NSW.The maximum I will spend is $400,000. I am struggling to decide whether I should purchase a house or an apartment, and which area's I should invest in.
My partner suggests that I should purchase a house in Campbelltown, but I do not know much about the location.
All suggestions are greatly appreciated.
Thank you

I'd suggest that you need not worry about the "where" to purchase at the moment and instead spend sometime educating yourself about the "how" and "why" of property investing.

You are about to try and spend $400k on a subject you haven't quite grasped yet.

Take your time and read a little.

Rooster

 

[jim1964]

I'd suggest that you need not worry about the "where" to purchase at the moment and instead spend sometime educating yourself about the "how" and "why" of property investing.

You are about to try and spend $400k on a subject you haven't quite grasped yet.

Take your time and read a little.

Rooster

Eager,take a deep breath and ask yourself a few things first.As Rooster said,educate yourself about the how & why of doing this,formulate a goal plan to work towards.If time permits,spend your free time looking through this forum,ask questions,you will get a lot of advice.
Myself,like a lot of other posters,have made the mistakes YOU can avoid,because it was trial and error in those days,you benefit from this information which is given freely and best of all without cost.Your in the box seat,but make the right choices from the start,and you will never look back.

 

[Aaron_C]

Yes make sure you have your finances in place first before you take the plunge. Then once you have a decent budget in mind, research like others have indicated.

 

[Rixter]

Eager, what and where to buy is dependent upon your chosen investment strategy.

You see property is merely the vehicle. The strategy is how you intend driving that vehicle.

Unfortunately the mistake I see newbies and sometimes not so newbies is that they are property focused instead of strategy focused which is like putting the cart before the horse.

Property investing is not about property rather about the strategy and the way you intend to use the vehicle to get to where you are wanting to go. No good buying a small shopping car if you intend driving interstate on a family holiday.

What strategy/s are best for you is determined by where you are wanting to go, the time frame you want to get there in and how hands on along the way you want to be ( manual/automatic etc) - all based around your personal risk profile.

I hope this provides some food for thought.

What is your chosen investment strategy?

 

[eager]

Thank you every one for giving me guidance I will educate myself more about property investment.
Greatly appreciated.

 

[Moneyman_85]

Was that a cut and paste rick from an old old post?

 

[Rixter]

Was that a cut and paste rick from an old old post?

Ive been an active member of this forum since it started 12+ years ago. Same question's being asked & recycled with each wave of newbies. No need to change the answers.. 2+2 will always = 4

 

[DaveM]

I think Rixter has it setup as a macro for every "how do I invest in property" thread

 

[Rixter]

I think Rixter has it setup as a macro for every "how do I invest in property" thread

hahaha... The only Macro (& Micro) I conduct is in relation to Due Diligence.

 

[cu@thetop]

Eager, what and where to buy is dependent upon your chosen investment strategy.

You see property is merely the vehicle. The strategy is how you intend driving that vehicle.

Unfortunately the mistake I see newbies and sometimes not so newbies is that they are property focused instead of strategy focused which is like putting the cart before the horse.

Property investing is not about property rather about the strategy and the way you intend to use the vehicle to get to where you are wanting to go. No good buying a small shopping car if you intend driving interstate on a family holiday.

What strategy/s are best for you is determined by where you are wanting to go, the time frame you want to get there in and how hands on along the way you want to be ( manual/automatic etc) - all based around your personal risk profile.

I hope this provides some food for thought.

What is your chosen investment strategy?

Probably the most important question to be asked by any old or new investor.
Cut and paste as much as you want Rixter.

 

[Moneyman_85]

Make it a sticky top of the page "please read first"

loving the info on here guys