I'd like to start off by saying hello all as I am new to somersoft
I'm 21yrs old and am an apprentice diesel mechanic (3rd yr)
I've been very interested in property investment for a fair while now
As I'm an apprentice I don't have a fair amount of money to work with and will mostly be relying on a loan and gearing it.
To start off I was thinking of a relocatable home in a caravan park
I understand that the rent will have to cover the ground rent, loan repayment, and some left over to be kept in a bank account for repairs (which I will do minors myself) and when property is un-occupied.
Has any1 done this? Success? no success?
So pretty much what I'm asking is this a good or terrible idea?
if its terrible what are some other idea's on low wage or loans under $50,000
Any feedback is good...I want to LEARN!!
Thanks
Nathan
Caravan investment?
I'm 21yrs old and am an apprentice diesel mechanic (3rd yr)
I've been very interested in property investment for a fair while now
As I'm an apprentice I don't have a fair amount of money to work with and will mostly be relying on a loan and gearing it.
To start off I was thinking of a relocatable home in a caravan park
I understand that the rent will have to cover the ground rent, loan repayment, and some left over to be kept in a bank account for repairs (which I will do minors myself) and when property is un-occupied.
Has any1 done this? Success? no success?
So pretty much what I'm asking is this a good or terrible idea?
if its terrible what are some other idea's on low wage or loans under $50,000
Any feedback is good...I want to LEARN!!
Thanks
Nathan
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