Tell me if I am wrong, but if -ve gearing was abolished, I agree that rents would increase but hte idea that house prices would go up is questionable.

I mean, surely those people who thought they were on a good thing with -ve gearing will now have to pay a lot more for the property making them want to get out of the property quick smart. That means there will be a lot more bargains to be had in the future. I am crazy to think of it that way???

Just hope it is all favourable for me…. eventually.
Steph.

Here for a good time not a long time, just do it!.

Hee hee, the good thing about those reno shows on telly is that when the home renovator stuffs it up and can’t be bothered they have probably lowered the price on their house to sell!

Easy pickings for those who can do it quickly and without costing much! Woohoo! So it isn’t all bad! All the good ones you see, I am sure there are probably 10 that are absolute bodge ups. You just gotta find them!!![:X]
Mrs.

Here for a good time not a long time, just do it!.

hey Paul,
As Westie said, glue a phone to your ear. By the sounds of it, you have the guts and balls needed for the property market. Losing your property is a possibility but is most unlikely if you do your homework and set yourself some limits.

You have time and a brain at hand and you have obviously thought this through. Go for it Paul. I think everyone on this forum would agree with me on that one. Just stay informed. Hey! You have one over me! My hubby and I don’t even have a property yet so you have a huge advantage over us.
good luck and keep the forum updated with what you end up doing.
Mrs.

Here for a good time not a long time, just do it!.

Nicole, you not alone there. We in UK to raise revenue…. Paid off $17000 worth of debt and have just started saving for a $25000 goal. It will be slow going but stick it out, you will be amazed at what you can save.

For everyone else on the forum, we are at 0 as well but plan to have 1 ppor, and 2 IP by the end of next year with one of those totally paid off and in our ownership. We plan on renovating houses and turning them over then using that extra cash to buy one or two others to do. Eventually doing that should give us enought to pay off one house per year.

We think it is the right way for us to go as the houses will be our super for our future. If anyone has any tips they will be more than welcome.
Cheers.
Cremin.[:0)]

Here for a good time not a long time, just do it!.

Try going through a mortgage packer not a mortgage broker. There is a big difference between the two, basically packers tailor the loan to suit your needs and pull all the strings to get you what you want. A broker will look at your assets and income and say yes or no. Simply brokers get so much business they don’t really care about the end result.[]

Here for a good time not a long time, just do it!.

Wannabe,
Is there anyway you can improve the property with little cash input so as to get a better rental return? I mean things like just repainting or getting the garden sorted out? I could be that the IP just needs general tarting up so as to attract a better rental source.

Maybe $1000 invested there will give you an overall better cash flow.
Cremo.

Here for a good time not a long time, just do it!.

Sorry Rock this isn’t what you wanted to hear, but the first rule in business is “Never start a business with friends.”
Sorry mate.[]

Here for a good time not a long time, just do it!.

My goal is to create a comfy lifestyle for my wife and I. Where we can choose if we want to go to work or not. Where we can pack up and travel around Aus or the world whenever we choose knowing that we are earning a thousand+ a week while kicking back on the beach in Fiji, while carving it up down the gear jammer in Canada, while hiking the garden route in SA.
All the time reminiscing about how i used to work my arse off all week for a measley 500 bucks working for a complete t[!][xx(]sser!
Yeah baby bring it on!![]

Here for a good time not a long time, just do it!.