Looking for my first investment Property - How to get started

Discussion in 'Introductions' started by KYLIE LUIGIO, 11th Jan, 2021.

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  1. KYLIE LUIGIO

    KYLIE LUIGIO New Member

    Joined:
    11th Jan, 2021
    Posts:
    1
    Location:
    MELBOURNE
    Hello,

    My name is Kylie and I am looking for my first investment Property.

    How do you get started? Where to buy in Melbourne? Do you buy in a hot spot? Is now a good time to buy?
    Is there a webpage that can help with a checklist of what you need to do?
    Kylie
     
    KYLIE LUIGIO, 11th Jan, 2021
    #1
  2. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    10,327
    Location:
    Australia
    Talk to a good mortgage broker first. Finance is always the first step.
     
    Trainee, 11th Jan, 2021
    #2
    Jess Peletier, KYLIE LUIGIO and The Y-man like this.
  3. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,503
    Location:
    Melbourne
    Welcome Kylie.

    • How do you get started?
      • As per @Trainee post above - see a good reputable broker (it may be a good idea to select one form this site after reading their comments to find one that has a good philosophical fit with you.
    • Where to buy in Melbourne?
      • Depend on what you can spend - you need to find out form the previous step above.
    • Do you buy in a hot spot?
      • In general, it's a NO from me. I buy in COLD spots.
    • Is now a good time to buy?
      • Depends on if you can find cold spots and your spending ability.

    The Y-man
     
    The Y-man, 11th Jan, 2021
    #3
    KYLIE LUIGIO likes this.
  4. Shogun

    Shogun Well-Known Member

    Joined:
    26th May, 2018
    Posts:
    2,889
    Location:
    Perth
    Understand the pros and cons of buying an investment property.

    It is not always an easy path to riches.
     
    Shogun, 11th Jan, 2021
    #4
    KYLIE LUIGIO likes this.
  5. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    711
    Location:
    Melbourne
    KateAshmor, 16th Jan, 2021
    #5
    KYLIE LUIGIO likes this.
  6. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,684
    Location:
    Perth WA + Buderim Qld
    Hi Kylie,

    Seeing a broker is definitely the first step. If you're not clear on how much you can borrow, you really can't start creating a strategy.

    Because we work pretty much exclusively with investors, we have a new investor training program as part of our package that would help you figure out the answers to all your questions and prepare you to invest with a solid education behind you. :)

    We also have loads of free video training in our Facebook group which is great for new investors.

    Good luck - exciting times ahead!
     
    Jess Peletier, 16th Jan, 2021
    #6
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