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Hi everyone from Melbourne!

Discussion in 'Introductions' started by propertynoob, 17th Oct, 2016.

  1. propertynoob

    propertynoob Member

    Joined:
    17th Oct, 2016
    Posts:
    8
    Location:
    Victoria
    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 :eek:

    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
     
    Mavis likes this.
  2. Jerry O

    Jerry O Well-Known Member Premium Member

    Joined:
    21st Jun, 2015
    Posts:
    360
    Location:
    NSW / Melbourne
    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.
     
  3. propertynoob

    propertynoob Member

    Joined:
    17th Oct, 2016
    Posts:
    8
    Location:
    Victoria
    Thanks Jerry! I definitely look forward to picking everyone's brain at a meet up!
     
  4. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

    Joined:
    9th Jul, 2015
    Posts:
    1,078
    Location:
    Perth
    Welcome to PC - the best property resource on the planet ;)
     
    Taku Ekanayake likes this.
  5. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    1,004
    Location:
    Brisbane
    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?
     
    Last edited: 17th Oct, 2016
  6. propertynoob

    propertynoob Member

    Joined:
    17th Oct, 2016
    Posts:
    8
    Location:
    Victoria
    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!