Young Expat Couple manage to step into the property market
Facts – a bit of background:
Name: Gaspard and Marie
Living in - Sydney, Bondi, for over 5 years
Nationality - French-Australian
Professional Status - both working in Corporate
Savings to invest - $100k
Borrowing Capacity - >$500k
Their first approach was to buy a property to live in.
After looking for over a year, they realised that buying in Bondi, where they enjoyed the beach life, was way too expensive and out of their budget.
They knew that their savings sitting in their bank account was losing value.
They decided they would become Rentvestors (link to our rent vs buy) so that they could continue to think long term for their investments and not having to sell the house they lived in if their personal situation changed and they had to move somewhere else.
They ended up buying this property and are no enjoying from the benefits of positive cash flow and capital growth, so that in a couple of years they can buy their next investment property