A Definitely as an investor !
Why ? Big savings, including tax savings. I will substantiate this statement with some financial modeling later on. What may have stopped some young Australians from starting with an investment property is that they thought they would forfeit the first home owner grant if they bought an investment property first. Apparently that is not the case with present legislation (2010). For example iIn 2009 my third son has qualified for his first home owners grant after he had bought 1/2 of an investment property.
Q When is the best time to invest ?
A Best time to invest is always now if you are ready !
Don't try to ride the cycle on your first property - play it save and invest in a low risk market segment and low risk area
Don't take higher stakes (risks) until you can afford it
Develop a strategy that includes a risk model
The best time to start thinking about investment is when you are in school. Start with a piggy bank in primary school to develop good habits. The best time to enter the market with a cash flow performance property strategy is when you are ready to borrow.