I have to start out by saying how great this forum is. I've been reading up and getting as much information as possible. Will have a lot of questions as I start this new journey. I've left the run pretty late, as my wife and I are in our late thirties. We've spent a lot of time working and travelling overseas and returned to Australia about 7 years ago to work and save money. We are currently renting in the Northern suburbs of Melbourne and are looking at getting into the market with some investment properties. We are hoping to build a portfolio with good CG and a positive cash flow with the dream of generating a passive income later in life. We have $160k in savings and have already spoken to a mortgage broker about our options. We are looking at only throwing in around $60k to start with and keeping the rest in an offset account. We need this security as our dual income is quite low ($95k). With around $60k and an LVI of 12% we could probably get an established house for around $300-350k. I'm doing a lot of research in areas such as Adelaide (Morphett Vale, Elizabeth and Salisbury), Melbourne (Werribee, Melton) or should I be looking regional like Bendigo, Ballarat or QLD (Sunshine Coast). As a first investment, I want it to be a good one so as to build equity. I am also looking at getting as much help from the professionals. I already have a great mortgage broker but need an accountant and I guess solicitor. Anyone else? Any recommendations of accountants and solicitors in Melbourne northern suburbs? Also when I think I have found a property that ticks all the boxes, what is the process? Who else do I need on board to get the ball rolling? Any advice will be greatly appreciated. Will be poking my head around in other threads. Thanks.
Depends on the state. Here's one or Vic: Can someone explain the buying process in Victoria Also, many lawyer/conveyancers do their own state only. The Y-man
