All Topics / Finance / i’m snowy and new

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of snowy111snowy111
    Member
    @snowy111
    Join Date: 2008
    Post Count: 1
    September 19, 2008 - 12:51 pm

    hi i'm snowy and new to property investing. so if any one has help to offer, i would luv to hear from you.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 20, 2008 - 12:09 am

    Hi Snowy and welcome.

    Easiest way to get some views is to post the questions you want answered and then wait for the replies.

    Richard Taylor | Australia's leading private lender

    Profile photo of imugliimugli
    Member
    @imugli
    Join Date: 2005
    Post Count: 87
    September 20, 2008 - 12:49 am

    Hi Snowy, enjoy your stay!

    First words of advice –

    Define your objectives.
    Research. Research. Research.
    Get advice.
    Put the correct structure in place.
    Refer Number 2. 
    THEN start looking.

    Investing in property, just like the property we invest in, needs a solid foundation.

    Profile photo of LDodsonLDodson
    Member
    @ldodson
    Join Date: 2008
    Post Count: 3
    September 24, 2008 - 10:40 am

    Hi Snowy, I started investing only 2 yrs ago & now I have two IPs. I can still remember the fear of taking that first leap! You're ready to get started, but you dont want to make a foolish newbie mistake, right?

     I agree with imugli and also my suggestions are:
    – Begin with a unit instead of a house because the rent will cover a bit more of the expenses so you'll see yourself getting ahead quicker which will give you more confidence
    – If you're disciplined with money, get an offset account so that you lower the mortgage faster and increase your equity (but it wont work if you spend your money as soon as you earn it)
    – Begin in a nice boring middle class suburb – its tempting to buy something cheap in a bad area, but nice tenants live in nice suburbs and you dont want a bad experience on your first investment.

    And my last bit of advice, the thing that got me past my fear of taking the plunge – you can read, research and ask questions for eternity, but you'll never get anywhere if you dont eventually take action and buy something!!

    Best of Luck

    Laura

    I'm a conservative investor though

    Profile photo of adldadld
    Participant
    @adld
    Join Date: 2008
    Post Count: 20
    September 25, 2008 - 2:14 am

    hi snowy welcome to the site, my tip is read read read read and the read some more, knowledge is power! most  importantly these are public forums, the person behind the posts could be anyone and thier opinions are worthless, get to know the frequent advice givers and you will learn to ignore the "scamps"

    welcome!

Viewing 5 posts - 1 through 5 (of 5 total)

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