@kev_tran: Learn from my $200K+ mistake I learnt a lot from my first investment property purchase. In addition to the opportunity cost, it slowed my journey by 3 years. Here's to sharing so you can avoid something similar Lack of basic finance education: - Initially thought limited by a $60,000 deposit. - Believed only option was off-the-plan due to needing 10% deposit or paying upfront lender's mortgage insurance (LMI). - Realised later could have capitalised LMI onto loan, expanding options. Off-the-Plan Pitfall: - Purchased off-the-plan townhouse without considering alternatives. - Project took almost three years to complete instead of the expected two. - Missed out on significant capital growth during the construction period. Has had nominal growth compared to other areas due to oversupply. Opportunity cost exceeds $200,000 due to missed capital growth and limited understanding of financial options. These were just two mistakes out of the many you could possibly make. Get educated to make better decisions and/or realise if outsourcing is a better option for you. #KevTran #Investorkit #PropertyInvestment #PassiveIncome #RealEstate #PropertyInvestment #InvestmentProperty #FinancialFreedom #WealthCreation

Kev Tran

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Region: AU

Monday 19 February 2024 00:15:46 GMT