All Topics / Help Needed! / cross roads – which way – has any one done this
- hi guys
I have started my research in country vic ..
so far so good
thanks for all your advise
jamie , richard and others
but after speaking to friends and family — hit a dead end
i will keep it breif
my scenario :
have a ppor ( pi loan )
goals/would like to do ( in next 5-7 years )
acquire 2 ip's ( less than 200 K – as that the max i can afford – considering everything )
continue to pay off ppor
i have to move overseas after 5-7 years ( family reasons ) and will be visiting here
generate a passive income cash flow into my bank account
of 2000/month
SO BASICALLY LOOKING FOR IP'S WHICH CAN PAY THEMSELVES( and positive cash flow by the time I move ) AND RENT OUT PPOR BY THE TIME I move
if needed ( to settle down overseas) sell my ppor or one of my IP and transfer the monies to my overseas account
my questions
I have been discussing this my close mates – there are two sides of this coin
some say – why the hassle of buying here and moving there when ur final destination is overseas ( India)
they say I will loose heaps during transaction ( If i sell the prop here )
Instead buy there ( India ) and much less headache
pros and cons of buying there
rental yeild : very very less ( u can forget about it)
but good CG
the other side of coin says : go ahead with ur plan and take advantage of currency division
has any one done this
need some good advise so that I can start
the point is to generate that passive income of 2000/month ( just simply cant start right from the scrambles after I move to overseas – 2000 would help to settle down )
can I achieve my target by looking at other avenues – other than prop – If so what are they
all ears
thanks heaps once again
sri
So Sri what your saying is you want to buy property that yeilds over 15% , let me know when you find some. I will take some,
I would expect you might have to lower your expectations.Perhaps look at share trading?
You can handle your accounts from overseas quite easily, more chance your going to hit the 15% returns your looking for (my mates were more than doubling their money when they started now at 25-40% returns).Might suit your situation much better.
I started with share trading a year or so ago and made enough to travel and buy a few things etc. but honestly it makes no sense to me.
However if your interested try books like:
– Rule Number 1 by Phil Town
– The Intelligent Investor by Benjamin Graham
– Competitive Strategy by Michael Porter
– Inside Secrets to Venture Capitaletc…
Or head to the USA – can get that sort of cashflow over there. Don't even have to leave Australia to do it
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