Hi, not sure if this is the right section but couldn't see it fitting anywhere else.
about myself, 23, I am currently fifo monday-thursday out of brisbane and moved back in with my parents roughly 2.5hrs away from Bris when I moved back from NSW.
I have a 20% for 300k property. Don't want to spend anymore than $350k as I'd prefer to not "go all out" on my first property.
Recently I've been thinking of making my first purchase a PPOR rather than an IP, but only for around 12 months. I am growing tired of leaving brisbane every weekend then driving back on monday morning. and I don't want to rent someones place for the sake of a few days, id rather pay my own mortgage.
Would it be a decent strategy to buy a PPOR and live in for 12 months, by that stage id be looking to buy another property either as IP or PPOR (portfolio now equal PPOR+IP) then hopefully a new IP every 12 months?
Looking for feedback on my strategy/ideas
about myself, 23, I am currently fifo monday-thursday out of brisbane and moved back in with my parents roughly 2.5hrs away from Bris when I moved back from NSW.
I have a 20% for 300k property. Don't want to spend anymore than $350k as I'd prefer to not "go all out" on my first property.
Recently I've been thinking of making my first purchase a PPOR rather than an IP, but only for around 12 months. I am growing tired of leaving brisbane every weekend then driving back on monday morning. and I don't want to rent someones place for the sake of a few days, id rather pay my own mortgage.
Would it be a decent strategy to buy a PPOR and live in for 12 months, by that stage id be looking to buy another property either as IP or PPOR (portfolio now equal PPOR+IP) then hopefully a new IP every 12 months?
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