Hi everyone, I've been lurking on propertychat for a little bit now and I'm picking up lots of tips. I'm 28 years old... still living at home I'm looking for my first investment in the property market. Looking for capital growth and/or maybe a larger block for possible development later on. A big thank you to all the people who will help me along the way on this forum! Cheers, Patrick
Good on you Patrick! Welcome aboard! Keep an eye out for the next meetup. There is one in the East and one in the West once a month.
Great to see that you have joined PC. Before you go too far down this road, can I suggest you develop YOUR investment strategy and YOUR tactical plan. A lot of newbies don't; they just start heading down the road. As they said in Alice in Wonderland : "If you don't' know where you are going, any road will get you there". If you have, can you share a brief, 'sanitised' version with us? Can you advise us of the 3 or 5 major things you have learnt from PC?
Thanks everyone! @kierank I really have no experience in buying/selling/developing property at the moment, so I would love to hear what is involved with how to develop a strategy and a tactical plan. (This is the stuff I love to be learning on this forum!!!) I wish to purchase something in the western suburbs of Melbourne (St Albans, Braybrook or Sunshine?) with a good sized block and hold a for a couple of years before I develop. I am a little risk adverse so I find property investing a little daunting but my money is doing me nothing for me in the bank. So since I have good borrowing capacity, I wish to capitalise on it as such. I might have been unclear in my last sentence! At the moment, I am still learning! But I do understand quite a bit more about the hidden costs and traps involved in development. Land appreciates while houses depreciate. Timing and location is key. But I have to learn what time and where :/ which I guess is the million dollar question! I may have written too much here! Sorry for the long read! Thanks for the replies!
