Nicole Haddow

Do your research.

Be in a better financial position when you enter the property market.

The reason I talk about this is because I want you to learn from my mistakes.

What I ended up doing was finally getting my Richmond single-fronted Victorian.

Yeah, I did.

I rent it.

And...

I learned a lot through that process as well because I had to work out whether I was going to move into the property first or list my property.

What else did I need?

I needed a bond for the new property.

I needed the first month's rent.

I needed to cover the cost of my property in the event that the tenant didn't move in straight away.

I worked out that I was going to need about $5,000, $6,000, maybe $7,000 to be safe to make this leap.

So if you're interested in the concept of rent vesting, that is living in your property or maybe not living in your property at all and then turning it into an investment property, you need to think about the cost of that leap.

Becoming a landlord is also really interesting.

I do have my property managed.

I didn't know...

But they can pay the bills.

I'm calling them tomorrow.

They didn't pay my bills.