Thirst for Knowledge

Hi guys bit of background. I am 30yrs old and live in lake Macquarie NSW. Work as a Auto Electrician in one of the Hunter Valley's coal mines. I "own" a home in Glendale and have done quite well out of it the last 3 years.

I have read a few books about property which got me interested in the idea of this type of investing. Some months later, I am now in the position to commit to an investment property.

I joined this forum to try and give myself the best opportunity to make an informed decision about my first investment.

My goal is not clearly defined yet. But I do want to set up correctly for future oportunities.

I have been listening to the Property Couch podcast which I am finding a useful tool.

Looking to jump in the deep end in the next few months. Hopefully you guys can help in my journey.

 

Speak to a mortgage broker first about what your likely buying budget is likely to be, otherwise you might start looking for properties and later find out they are out of reach. This site seems to have lot of brokers to choose from.
Once you have your budget you can start looking for suitable suburbs which will be good for capital growth, rental yields and vacancies, etc.

 

Welcome aboard

Plenty of info on this forum to keep you going for a while

Cheers

Jamie

 

welcome to PC @The Prestige,

like Rolf said above, drinking from the fire hose won't address the thirst problem, you might soon be overwhelmed by the info you get from PC. different strategies, opinions. it could be confusing.

 

Welcome to the forums! If your home has done well, you're probably in a good position to use some of the equity as a deposit for your IP. It would definitely be worth speaking with a good broker to help determine a strategy based on your current income and situation, but also your future plans - wife/kids, planned job changes, etc - to make sure it's all going to fit together.

You can look to sort out the deposit side of things now, so you're ready to move in a few months when you're ready to buy.

 

Hi guys appreciate all the replys. I have spoken with a few brokers and I am good to go for the financial side.

 

I do really love newcastle and see it has great potential but from my novice research Newcastle is near the top of its cycle. Most people seem to be indicating Brisbane is a good contender for growth because its growth has been flat for some time. Any other capital cities that people have their eye on? Would be great to see your reccomendation.

 

Welcome aboard @The Prestige, you have come to the right place!
Good to see another Newy local!!
I was in your exact shoes a few months ago and the Best best advice which I can give you, is to Define short, medium and long term goals that you wish to achieve with property. As these will ultimately determine what and where you purchase.