Hi all
I have just recently moved from Ballarat to Perth. Over here its impossible to find a Positively geared property as the housing and unit prices are huge.
I am looking at getting my first Positive geared IP and want to know if anyone can help get started. I am preferably looking QLD, NSW, VIC and have no money to put down for a deposit as i have just recently bought a place over here (using my FHOG) prior to me coming accross Steve's formula.
iam currently work in my first job at 65000 per year and it is my goal to have enough positive cash flow investments in 10 years time for me to not have to work.
Desperatly need some direction and a guiding light to start my new future
Thanks, looking forward to your replies
hi mate, just thought id let you know before someone else does
theres no such things as a positively geared IP. ..but If you prescribe to the the notion that there is a needle in a haystack then sure they exist.
Im guessing you just read steves book and got all giddy about it. like i did when i first read it.time sure has flown since then. If you do find that needle good on ya.not many can.even on here
G'day Mate
Best thing you can ever do is read read read, im new as well but have learnt a great deal from reading this forum,
Remember people have some awesome ideas but its best to do your own research!– Start from scratch with your goals
– Build a step by step process to achieve them
– and most importantly follow your heart! if it seems to good to be true it probably is!Anyhow good luck with everything! and keep at it!
James
Do lots of searching the net, these type of properties are not very common so you need to keep doing your sums, work out the most likely locations to find them and keep looking and doing more sums! Remember when doing the sums that the purchase price would hopefully be a little less than the asking price. Setting up a spreadsheet may help with the calculations.
We bought a +ve cash flow property in regional WA (wheatbelt) last financial year; it may not excel in terms of growth but it's paying its way and that suits us.
Personally I would do a lot of looking and maybe delay the buying for a few months, it would be nice to see if we get some stability back into financial markets and which way things are moving.
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