Where do you start?

Discussion in 'Investment Strategy' started by Ayaz, 16th Apr, 2020.

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  1. Ayaz

    Ayaz Member

    Joined:
    7th Apr, 2020
    Posts:
    15
    Location:
    Sydney
    Hi team,

    Would you consider buying your first IP with a 10% deposit in Brisbane or Melbourne?
    I am looking to invest in my first IP but I am not sure if it's wise to get into a property with a 10% deposit.
    Do you think given the current scenario it better to wait and save more so I can put down 20%?

    what are your thoughts?
     
    Ayaz, 16th Apr, 2020
    #1
  2. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    10,348
    Location:
    Australia
    What do you think the risk is of 10% deposit? How about having a 20% deposit and taking a 90% lvr loan?

    Part of this is to challenge your thinking, which might be based on incorrect assumptions.

    property type? Price range? Area? New? Old? House? Unit? Otp? List is endless.

    Should i buy in brisbane is like saying should i buy a share listed on the asx.
     
    Trainee, 16th Apr, 2020
    #2
    MTR likes this.
  3. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World

    I would do nothing at the moment, we just dont know how the economy is going to pan out

    Pay attention to sales, how longs houses are taking to sell and if prices are falling??
     
    MTR, 18th Apr, 2020
    #3
    SOULFLY3 likes this.
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,654
    Location:
    Gold Coast (Australia Wide)
    Not enough info :(

    even for a general response

    Context is essential

    ta
    rolf
     
    Rolf Latham, 18th Apr, 2020
    #4