Is it smarter to buy an investment property as your first property? (Australia)
Hi, I’ll keep it brief. My current situation is, I’m 22 and almost ready to enter the property market.
I can afford a vacant land loan and pay it off for a couple years before then extending my loan and building my house to live in. (Currently at home) My parents are telling me it’s smarter to save more and buy a house and land package and putting renters in it immediately to pay itself off.
I guess its smarter to have an investment property first and have renters pay off the mortgage. But would I struggle getting a second loan for my actual future home to live in?
Thanks for reading. Would appreciate any advice or if you can point me towards more relevant subreddits.
Submitted June 25, 2020 at 10:46PM by _surrealist https://ift.tt/2A8UXcO
