Im 25 and have just brought my first property. I was lucky enough to get it well below market value, and as it sits now, Im about 30-35k up. Going off recent sales in the area, and several real estate sharks.. I mean agents!
Being in the trade I plan to renovate the house and IF possible, sub-divide the block and build 2-3 units down the track. As I have only just settled on the house my first question is how long do I need to wait before I can re-finance?
Secondly, I have around $27,500 cash to invest. I plan to put $7,500 straight into the house to make it more "liveable" so that leaves me with around $20,000 to gamble with.
I have brought and sold a few shares just to say I have done so, but Im a complete amateur when it comes to investing. All I know is 6.00% from ING isn't going to fill my pockets any time soon.
Im not after stock tips or secrets, just some advice in what direction to head?