Hi guys, I just signed up as this looks like a great place to learn a lot about investing and property ownership. Late last year i put a deposit on a house and land package for a price of around $470000 in south west Sydney. While i am waiting for the land to register the same builder and land size is now selling for $100000 more. This coupled with my deposit of a little over 10% and first home buyers will leave me with a bit of equity to start off with. I will probably live in the house for 6 months (so i get first home buyers and stamp duty exemption) before assessing whether to stay there or rent it out (it looks like rent will cover all if not most of the mortgage). Either way i will be looking to get a second property within two years, I am thinking of maybe in Brisbane, the Gold Coast or maybe Perth. Hopefully in the next 10 years i can create a portfolio of 5 or so properties but for now i'm just starting out. Any advice would be great.
Good work on getting your foot in the door! South west Sydney is a booming area for sure. esp with the new trains/ shopping center/ airport and road ( m12 proposed etc..)
