I am new to actually writing in this forum but have been reading it for 18 months. So thought I would say hello to all.
Although new to property investing and also only 22 of age. I have kept a eye on property prices and rentals for 3 odd years. I have came accross a couple of decent investments but unfortunatley wasn’t in a position to purchase. However 15 months ago I purchased my first property . I spent 8 months looking for a + IP and couldn’t find a thing, I ended up buying a property and it costs me $5 a fortnight and I pay the rates. I am happy with it. I also got excellent tennants , Couldn’t be happier with them. I am looking at finding my second property. However I have found that I am not even getting close to finding a + IP . It seems to be alot harder these days after a good market boom. Any advice apart from keep looking??
Next question. Would people think it was wise to sell my current property and use the money in that to purchase say 3 property’s and use the money to make them positive assets.?
Thanks
MikeHi Mike,
We would need more information than that provided to give any ‘good comment’.
For me you really need to consider why you bought this property in the first place and is it doing what you wanted, and will it continue to perform along the same lines.
If the answer is ‘no’ – then sell and move on. If however the answer to both questions is ‘yes’ then hang on and leverage off any euity you may have and move on.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Ask yourself “how could I make positive cashflow properties?, rather than where are they?”
There is much literature on ways to do it.
Wraps, lease options, property improvements, and on and on.
Rolf De Roos (not sure spelling) may be someone worth checking out for such ideas.
Live, Learn and GrowLifexperience
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