I have never invested in property before as an investor.
Instead f buying one property I'm thinking of buying 3 with a deposit.
Here's me ..live in Sydney... 45yo male single..Government full time job . Earn 60,000 year before tax
Own outright apartment that I live in worth approx $320-340k
Cash in bank-- about 10k... Superannuation 100k
I have come into a inheritance of 350k ... I could buy outright a IP say in Liverpool or outer suburbs but.... I'm thinking if I put 20% down on a property it would be better than paying the whole 350k for the IP.
My question is .. Ok I put 20 per cent down say on a IP worth 300 k.. That's $60,000 then rent it out ... Then get another one ?
Or should I just buy it for 100 per cent? But then I would only have about 20k left in my bank account.
Look I'm scared to get a loan in case I get sick or something could go wrong.
Instead f buying one property I'm thinking of buying 3 with a deposit.
Here's me ..live in Sydney... 45yo male single..Government full time job . Earn 60,000 year before tax
Own outright apartment that I live in worth approx $320-340k
Cash in bank-- about 10k... Superannuation 100k
I have come into a inheritance of 350k ... I could buy outright a IP say in Liverpool or outer suburbs but.... I'm thinking if I put 20% down on a property it would be better than paying the whole 350k for the IP.
My question is .. Ok I put 20 per cent down say on a IP worth 300 k.. That's $60,000 then rent it out ... Then get another one ?
Or should I just buy it for 100 per cent? But then I would only have about 20k left in my bank account.
Look I'm scared to get a loan in case I get sick or something could go wrong.
Can I buy 3 properties with 350k?
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