142 | Q&A – Can You Achieve a Passive Income in 3 Years? Are You Too Old?

Alright, folks, let’s get down to the “nitty gritty”… how long will it take you to achieve a passive income?

What about the limits of your age? Are you too old? Are you too young? Do you have an outstanding HECS debt to pay off?

In today’s Q&A, we will be discussing all of these and plenty of other tricky questions too.

Oh, AND we have two GUEST LISTENERS featuring on our podcast — don’t forget: you can feature on The Couch too if you leave us a voicemail message!

A handful of dot points for you:

• Is an apartment in the CBD a bad idea?
• When are you too old to begin investing in property?
• Should you pay off your HECS debt before you buy your first property?
• If you start right now, can you achieve a $1,000 passive income in 3 years?
• Which is better in the long term: a free-standing house or a unit in a better location?

And see you this Saturday at the Sydney Property Buyer Expo! Haven’t got your tickets yet? Click here to purchase your tickets and save $50 by using this discount code: PROPERTYCOUCH

And here are the questions from today’s show:

SpeakPipe Question from Michelle:

First of all, thank you for the podcast. I love every single episode of it — so keep up the good work!

My question today is: I have a property in Melbourne CBD, which is an apartment in a high-rise building. After listening to your podcast, I understand that this is a really bad purchase… should I sell it to fund the next purchase? 

And my second question is: Should I buy in blue-chip areas in Melbourne where the average price is $750,000 or should I start looking further away — regional Victoria or interstate, where the price is down to $400,000 – $500,000 and aim for better growth?

Thank you!

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