Quote:
Originally Posted by fishingme
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You realize that 250k, no assets/land, and being a renter is not that good... If you don't mind me asking, what do you pay in rent monthly?
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hmmp.... I pay 2k per month mortgage for a 350-400k valued unit 50m from pristine beach. ( over paying by about 120 per week to knock it dead ).
gunna rent it out sometime this year to make it a neutral income ( aka my minimum repayment is 380 per week, it rents out for 450 per week ) so that I can show the bank its not a burden. Plan on doing the garage up and renting it out separately ( will live in this till house is built ) to a surfer since the beach near us has great waves.
Can then make moves for buying land and building a 4 bedroom place (cheaper than buying a 20-30-40 year old home ) and can get what I want out of it this way.
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250k aint hard to make in aussieland if ur not a deadbeat dropkick, I just got back from been up north for 4.5 months and pocketed almost 60k, it's what you do with that money after the fact: i.e could go party it up or invest it.