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Hi . I am looking for first IP

Discussion in 'Introductions' started by AMelbZ, 13th Jul, 2016.

  1. AMelbZ

    AMelbZ Member

    Joined:
    13th Jul, 2016
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    Location:
    Melbourne
    Hi everyone,

    I found this forum from Google and I'v already checked few posts. It's very informative.

    I would like to do some research and buy an IP before November this year. I want to use the equity that I'v got on my PPOR as a down payment of the IP.
    My long term goal is to retire on rental income in 15-20 years.

    I am pretty sure that I can learn a lot from you guys.cheers
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Canberra and Sydney
    Welcome aboard :)

    When using equity in your home just be sure to not cross up your loans.

    Cheers

    Jamie
     
    AMelbZ likes this.
  3. AMelbZ

    AMelbZ Member

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    Melbourne
    Thanks for the advise, Sure I will avoid that.
     
  4. MsAli

    MsAli Well-Known Member Premium Member

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    @AMelbZ

    What sort of income are you looking at to retire on?
     
  5. wombat777

    wombat777 Well-Known Member Premium Member

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    December can be a bad time for finding a tenant due to the silly season. January should be better if people are timing moves with the return to school. Just one thing to bear in mind with a purchase at the end of the year.

    Not a showstopper. Just a consideration.
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    December can also be a good time to buy as vendors get desperate to sell before Christmas...
     
    Whitecat likes this.
  7. Azazel

    Azazel Well-Known Member

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    Hey @AMelbZ , welcome aboard.
    Where are you looking to buy your IP?