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James | 15 May 2013, 11:27 AM Agree 0
Hi Everyone, I am a 25 year old living in Canberra and purchased my first property with my partner two years ago in which we have recently moved into after renting it out for a couple of years until we were in a good place financially. We were quite fortunate with the price we got for the particular property and having the time to save a large deposit leaving us with over 300,000 in Equity. I realised that this money was simply sitting their collecting dust and have been looking into the world of property investing. There is so much to take in there seems to be negativity behind every door when seeking advice from people.

Currently the home we live in is an inner city suburb going through gentrification and we purposely bough an older home so that we could do renovations and build more equity. We hope to eventually rent this place out. Trying not to over capitalise is proving difficult.
My question i guess is where do I start. I want to buy my first investment property in Canberra before i venture out as I don't feel comfortable buying abroad as I believe i will have more success buying somewhere that is familiar to me. Is Canberra though the right place to buy. There is a lot of talk about once the coalition gets in which looks inevitable that house prices will plummet as history tells us and it will be a great time to buy. Canberra has had a number of residential developments as well over the last decade and I believe there has to be a surplus of housing at present.

I'm feeling a bit out of my depths here and would love some solid advice or even a mentor. Someone to show me the ropes because as you can imagine entering into the property market is a somewhat daunting task.
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