Hi everyone,
Kung Hee Fatt Choy[:o)]I’m really very new to the whole idea of IP’s: a bit of a NY resolution after reading Steve’s book, in fact.
I am very excited about the prospect of getting my first IP and am looking at sunny New Zealand[:X].
Steve’s book makes positive gearing sound very simple in theory but I gather it isn’t that simple in practice otherwise we’d all be millionaires by now!
I appreciate that SIS and others may not want to be specific about their particular methods ( https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=6917 ) but to give me an indication of how successful positive gearing is in practice for all of you can you tell me how many houses you experienced people own? How many you buy or sell a year?
How you think you’re going against your goals?Dave
Hi Dave [
]Well I can tell you about my experience so far I only have 1 IP and I still live in it. I bought it in Sep last year way under market value did some renovations and nearly doubled my profit in 5 months. I am just waiting for someone to rent the place out but it’s already on the market and it’s just a matter of waiting now. It’s going to be cash + as well. And this well help heaps for my next deal that I am looking at the moment. Well good luck
I only have 1 IP and I still live in it.I think if you still live in it then it is your PPOR not IP.
My experience are buys never sale, but thinking of saling at the moment. Currently renting.
Warm Regards
ChanDollars
[Keep going, you’re nearly reach the end of financial freedom]
]
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