I am looking at buying my first IP. I don't own my own home, am studying part time and working full time.
I was looking at using Destiny (Margaret Lomas' business) to start me on the path to buying my first couple/few IPs as I feel like I don't know enough to do it on my own, and have already put investing in property off for a few years because of this.Has anyone used Destiny? Are the costs awful? Was it helpful?Hi Sdem. I have also read Lomas books. destiny is free to use. just download it. its very easy to use and useful -> as long as u have the info to plug into it. hope this helps.
By the way…
I am also looking to buy my first property. I too was going to use Lomas's strategy to purchase my first few (hopefully the start of many!). So i think i know where ure at right now (im there too). So good luck to u
Hi, Beulah. I actually meant to go in and have them set up a property investment plan over a few years for me. I'm assuming it'll be really quite expensive. However, I don't think the average financial planner would be right for me, because I'm not particularly interested in shares.
I've been a Destiny client for about 3.5 years now (in Melb). I cannot recommend them highly enough. They can be as hands on or off as you like and will hold your hand as you go if you need that.
I am on the phone regularly with my guy in Melb simply to discuss the future and strategies, and even have him analyse the deals I find at times.
They even have focus groups every second week or so with like-minded investors who are also clients usually.
The property tracking software is absolutely brilliant and the on-line support and over-all network they provide is worth every cent.
The property investment plan costs around $350 or so from memory, and you don't need to sign up as a client to have it done. This involves a finacial analysis and 10 year plan.
They are specialists in property and won't try to flog you a managed fund etc.
They also do mortgage broking. Give them a call; the first consultation is free and no obligation.Fantastic. Thanks for that Marc. I am in Melbourne too, although I've made an appointment in Highett as the guy in Fitzroy didn't respond to my request for an appointment.
I'm really glad they've been helpful for you, and thanks for the breakdown of what they do….that's more than they've told me on their website.May I ask how you've done with their plan? Have you bought properties?Ta,SkyeOh funny. I was searching this forum for Destiny stuff and saw that I signed up here 4 years ago also interested in the same topic!
Procrastination much!!Actually, although I say I’ve procrastinated, I did attend the Highett branch and was impressed, however lost my first deposit in some shonky scam unrelated to property so had to leave it for a while. I’ve owned a house for just under two years now that as of last month became an investment property. I’m planning to buy my second IP next year.
So, the same question 4 years later… anyone having any success with Destiny?
After having already bought one house I feel a little more confident in doing it myself next time, using principles from various people.Hi sdem,
You success will NOT depend on Destiny. It will depend on YOU.
What you have already learned is crucial to what you’re about to do next. Build on it. Brick by brick.
Angel
Lol, indeed Angel. I’ve got a year to save for it, but I’ll probably end up doing it without one of the expensive companies. I think there’s enough information in this forum to last a year, and I’ll re-read all my investment books.
I’m not in any hurry anyway. I’m 35 and I love my job, which also pays a reasonable wage so I want to be earning money from my properties in 20 years. More of a retirement plan than anything.
if you have access to Sky business she actually has a show called Property Success check her out on that and she also appears on'your money your call'……………. she REALLY knows her stuff. I have met with guys in HIghett previously and they were pretty good not pushy at all!!! did want to help me at no cost. I didnt join as I found them to be fairly conservative which is great for first time investors. I'm currently on my 3rd property and I did do it without joining a company and paying the fee BUT i watch her shows regularly have most of her books and signed up for her newsletter. I also have Steve's books as well and recieved emails from Reno Kings etc because the ideas and information they provide is fantastic!!!
There are sooo many different stategies you can use in property and it really comes down to what are you trying to achieve and which strategy fits in with your goalsThanks Tylon. I don’t have access to Sky but am still impressed by the books and articles she’s written.
I had a Residex report sent out to me this morning for the property I own and it has ‘valued’ the house higher than expected. Not hugely, but enough that I might even be able to buy my next house this year. What I’ll do today is chat to the mortgage broker who initially set up the old loan as he also invests in properties and has a whole wealth approach to investing and have a chat to him. If I don’t like my own style (with help from him and people here) then I’ll move on to somewhere like Destiny.It’s funny how a couple of days (literally – I’m laid up in bed at the moment) can really clarify your thoughts!
Cheers
sdem wrote:Thanks Tylon. I don’t have access to Sky but am still impressed by the books and articles she’s written.Hi sdem
Check out youtube – there should be some Lomas clips.
Cheers
jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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