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Thanks Richard, I will give him a call.
Sienna,
Thank you very much! I will look into the options you have suggested, this sounds like it might be something we will look at. My husband is familiar with the areas ready to boom as he has researched alot but when it comes to the finance areas we are still not too sure as we havent looked at what is available.
I really appreciate your positive outlook as this is the way i think. Where there is a will there is a way.
Thanks very much.
LianaI also failed to mention that we are in our early 30's so we aint getting any younger and we want to get something in order now! does anyone else have any ideas on creating wealth?
Thanks to those who have responded so far, I am taking it all onboard. I had failed to mention that we would only be looking at an investment property if we can both find extra cash through weekend work, we do know a little bit about this business as we rented out a house in NZ for 5 years whilst living here and after mortgage, insurances, etc we made $10 a week on it, we would need this to be the case here also. We made a large amount when we sold around the $120,000 mark which enabled us to buy here. Our mortgage is under $400 a week and we keep our expenses very low.
We also have money put away incase on situations as you mentioned by blogs if a tenant defaulted on repayments we could take care of it. Anyway we dont really intend of doing anything for another 4-6 months or so, but if anyone has anything to add I am willing to hear it, its all food for thought.Blogs,
Yes I understand your point and no we are not nuts, but we will not be paying off the investment property, infact we wouldnt look at anything that didnt already have tenants in it, this would have to positively geared, and no short fall. I have had many friends get loans through other means and this is why I am asking around to further investigate options, I am not interested in loan sharks that charge the max either, so dont get me wrong.
In our dealing with banks there is so much red tape that its often hard to get anywhere, if someone came to me with something that meant a calculated risk them maybe we would look into it further. By the way blogs do you have a portfolio just as a matter of interest?I live on the Gold Coast and its getting kinda pricey. If your looking for something average then areas like Nerang,Carrara, Merrimac, and Pacific Pines might be the go.
Thanks guys for your valuable input. I will take what you have said and use it when seeking my first IP.[thumbsupanim]
Ok, thanks for your help.
I will stay tuned for any further information.
