Hi
First thing i would like to say is this, great forum.
Anyway getting back to me
Im looking at buying my first IP, im from melb and im not sure were to start, i definitely want to get the ball rolling.
My situation is this, i owe around 10,000 in the property im in now, its worth around 350,000. do i by a unit, house(does it matter)
Do i wait a bit and miss the boat, do i negative gear, positive cashflow(what does this all mean to the decision i make on buying IP).
are there any member meetings that are held in melb so i can get a better feel of this.
Thanx in advance
keep up the good work.
Hi Pousti,
Good start!! I think reading a bit about the pros and cons of different options (much of which is discussed here on the forum) and getting a team of accountants, brokers etc together for advice is probably a good direction to head because having an investing strategy that fits your circumstances will be much more effective than trying to imitate ‘the crowd’. Steve’s book is excellent and a very good argument for positive cash flow. Others like Dolf de Roos come highly recommended as well.
Best of luck! [^]
[
]
Mel
[email protected]Hi Pousti,
I’m interested in meetings in Melb too. Let me know if you hear of any.
PS I’d go for CF+ve cos why earn a tax break to lose money when you can get a tax break to MAKE money (if you do it right)Sophie
Hi MelThanx for yre feedback
Yeah well i suppose yre right i probably do need a good team of brokers and accountants, and plenty more research.
Brokers and accountants, why would i need both, whats the difference, im new to this game mel.
thanx in advance[
]Hi Pousti,
Good start!! I think reading a bit about the pros and cons of different options (much of which is discussed here on the forum) and getting a team of accountants, brokers etc together for advice is probably a good direction to head because having an investing strategy that fits your circumstances will be much more effective than trying to imitate ‘the crowd’. Steve’s book is excellent and a very good argument for positive cash flow. Others like Dolf de Roos come highly recommended as well.
Best of luck! [^]
[
]
Mel
[email protected]Hi Sophie,
I will certainly let you know if i hear anything about meetings.
Touch base with me if u find out b4 me
Thanx[
]Hi Pousti,
I’m interested in meetings in Melb too. Let me know if you hear of any.
PS I’d go for CF+ve cos why earn a tax break to lose money when you can get a tax break to MAKE money (if you do it right)Sophie
[/quote]to be honest pousti
get both if you can, let me explain
say you get a +ve cash flow property with a passive income of say around $50 a week, instead of pocketin that money invest that $50 into another property for example a -ve gear property, lets say that the in the simplest form that the bank wants an extra $50 cause you tenants rental doesnt cover the loan, you are able to kill 2 birds with 1 stone with no expense.
What im tryin to get to is that were you make a profit you have have to make lost to, but you can minimise this and maximise your tax return if you have both.
Also havin both you will get more experience, were the market is platuing out and there is no capital gain happenin its best to have a +ve cash flow property then, but say if you the market is just boomin with plenty of capital gain thats a good time to have a -ve property and sell it for some capital gain.
But in reality it would be better to have both a postive cash flow property and a market that is producing capital gain.
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
