Hi AndyWith a $100K 'cash', you're in a very good position.  Problem is grappling with the options and your view of risk and comfort zone.  The trick is probably just to get into the marketplace as soon as you can with a low risk plan first.As a 1st-time investor, maybe you could consider a low-entry level investment for your first (until you b…[Read more]

Good for you in thinking about your future 'early' in life.Before you 'jump in too quickly', you should develop a plan for the short, medium & long term about where you want to be in 1 yr, 5 yrs and 10yrs in terms of assets/properties, income, lifestyle.Then look at fleshing out strategies to achieve the goals of each plan, which should indicate…[Read more]

OdenskaIf you can afford the 20% deposit, why would you consider going 105%?Think about what your long term strategy is?If this is your first IP, from the point of view of banks/lenders profiling you as a credit risk, I'd go with the more cautious approach (if you can afford the 20% deposit).  Later on when you purchase other IPs, this will…[Read more]

CrystalIt doesn't sound like you've lined up a solicitor yet for your purchase.  Any decent lawyer would haver advised you on the above.  In addition, sometimes they advise for the contract to be sent to them as your rep before signing anything (so the opportunity is there to amend or add in any clauses).Some people may view this as t…[Read more]

Hi DanYou probably have enough to buy now if you were looking to go out into regional Vic or NSW and start off with something modest such as a small 2 bedroom unit in a small complex where your risk is also spread with a body corporate of a few other owners.However, a good starting point might be to think about a few other questions first:<-how…[Read more]

HiA better approach might be to get some help in terms of what you can afford based on your income/possible equity/savings.  This might begin to open up other options of what to buy and how much you can afford.  Also, different IP such as student accommodation can have different conditions attached to it from lenders.There are a few mortgage b…[Read more]

Hi Carl

Sometime ago, Richard Taylor put up a post on shared equity loans/mortgages. This may offer you another option for your situation.

Hopefully he can respond to your situation with some insights.

While there were mixed feelings about the pros & cons of these arrangements, I think it’s important to consider critically whether it suits…[Read more]

Hi

In terms of whether this is a good investment, it’s a bit hard to tell. If you bought at the list price and you only get 6% return from rent, and if you take out a mortgage at say 8%, then 2% is going to come out of your own pocket. That might be OK if you can afford to do this, but that would be based on you achieving some good capital…[Read more]

Hi

For a young guy, sounds like your partner and you’re already doing very well with property investing. Good work so far.

In terms of your ‘lending strategy” to borrow up to 80% against your investment properties (and access $400K plus saving up $100K) to access the deposit, you may be wrong in your thinking.

“Saving” $100K in one year will…[Read more]

Hi

You wouldn’t buy these for capital growth in the short term, but for cashflow because the ‘rent’ from the motel could be higher and more ‘guaranteed’ for occupancy (depending on whether it was a straight guaranteed lease amount as opposed to pooled arrangements).

In Brisbane, the arrangements for these are a bit better in terms of ‘guaranteed…[Read more]

Hi Casey

Might depend on what your medium term goal is:

Either:
(1) Continue investing now that you have established your portfolio, and grow your assets; or

(2) Take all your profits, own your new PPOR outright with some cash left over after capital gains tax on your IP.

Or, which one allows both you & your partner to have peace of mind,…[Read more]

Hi Katz

It was probably a different marketplace at the time this book came out. I think this is acknowledged in Steve’s latest book and he explores both the ‘principle’ of the 11 second solution and how it can be adapted to the current market.

Sometimes, you need to read what you are being told critically in the context of how and when it was…[Read more]

Hi Jxf

You’ve has some very good input (particularly from Simon).

However, as he intimated given all the feedback you’ve been given, only you can make the best decision for you; and that depends on what your final goal is. This might be a better starting point to create your investment strategy.

For example, if you wanted to own your own place…[Read more]

G’Day

I’ve made contact with William.

We’re meeting next Wednesday night.

If any of you others are still interested drop me a line at gls@888abundance.com.

Regards

Gary
Author of “Property Millionaire, The Guidebook to Having Great Australian Dreams”
Creator of Property Millionaire – The Boardgame
http://www.888abundance.com

Hi

I’ll be at Dale GG’s “passionate investment/property expo” event on Thursday 28 Sept (from 12 o’clock) this week as one of the ‘exhibitors’ as ‘author, creator of the business tool “Property Millionaire – The Boardgame”, and I also coach (for mainly newbies & ‘first timers’).

If you’re one of the Young @ Heart ‘members’ that have been…[Read more]

Hi All

A number of you have enquiries from different parts of the country.

I’ve PM’d some of you. Others I’ve yet to respond to.

I’ve just come back from Brisbane where the Young@Heart PI Community – SE Qld met for the 2nd time. A number of the other states are also meeting or preparing to meet now.

To bring you all up to speed rather than…[Read more]

Hi All

A number of you have enquiries from different parts of the country.

I’ve PM’d some of you. Others I’ve yet to respond to.

I’ve just come back from Brisbane where the Young@Heart PI Community – SE Qld met for the 2nd time. A number of the other states are also meeting or preparing to meet now.

To bring you all up to speed rather than…[Read more]

Hi Mark

I’ve sent you a PM in regard to your query. Otherwise you can contact me directly on gls@888abundance.com .

Regards

Gary
http://www.888abundance.com
Author of “Property Millionaire: The Guidebook to Having Great Australian Dreams”
Creator of Property Millionaire – The Boardgame

Hi DrOO & Janette

I’ve sent you each a PM in regard to your query. Otherewise you can contact me directly on gls@888abundance.com .

Regards

Gary[aacool]
http://www.888abundance.com
Author of “Property Millionaire: The Guidebook to Having Great Australian Dreams”
Creator of Property Millionaire – The Boardgame

Hi Acey

Very impressive. Congratulations on reaching this point in your enterprise.

Does this mean you’ve left the ACT? For Sydney? or NT?

Gary[aacool]
http://www.888abundance.com
Author of “Property Millionaire: The Guidebook to Having Great Australian Dreams”
Creator of Property Millionaire – The Boardgame