my biggest lesson was to or is get education on what you want to achieve had I got education and not listened to a slick dressed sales pitch I wouldn’t have bought in Gladstone and lost 150k of equity and got a negative cashflow to live with.
I now no education is very important to understanding what and why you want to achieve it look you stil might want to engage a buyers agent I do their services could be useful if you were wanting to buy interstate because at times that’s where the best buy is at the currant time would be …
SO MY 1 NUMBER ONE LESSON IS EDUCATION
steve McKnight has a great course the property apprenticeship http://www.propertyinvestortraining.com.au/
did you guys run through the course context or did you tackle the assessment’s also?
iam also going to go through the course again I did learn a lot the first time iam sure more things will hit me on the second time around
hi Steve and team , I have completed the course but never got informed on this I wold have loved to come along and share the experience with a group of like minded investors iam so bummed I missed the opportunity are you going to be doing another in 2016 I would really love to come along this year I have plans to get back on the horse and invest again
I use a software called my property tracker its $50 a year maybe more expensive then the others have suggested but what I like about it it’s a cloud based soft ware so you can’t loose anything you can generate reports from dates you enter I have found it much more efficient for my self then my spread sheets I made . All your documents get saved in to it also which I like everything in one place
hey dingo
good to see you are honest with your trades and investors you will go along by being honest … you might not made a profit on this mate but good stuff for taking these as a lesson and to move on from this iam sure every investor hasn’t made a profit on every deal including me all the best for the future dingo
hi mate what I do know I I bought my first property there for a bargin newborough done a full reno then rented it for positive cashflow there are good people in the valley an I think can be a great investment if bought t the right price
there will be a lot of things you will need to consider befoure making the move from wages to subby and making sure you put your tax money aside and be prepared to wait for money for longer periods of time aswell. and if your boss is deducting the super from your wage so there there you are earing $47 – 9.75% = $45.80hr so there for the $7.80 a hour more does that cover all your rdo’s, sick leave , annual leave you get the point ..
iam also a subcontractor I have found it relative easy to get finiance but like Jamie mentioned you have to provide more then you would if on wages
these are just my thoughts on the situation , best of luck sam
Hey all some bad stories there can be some scum bags out there
My biggest mistake so far has been buying a property through a buyers agent for a pretty high price in a mining town and leaving myself with little equity to keep moving forward, but the real kicker is the property was valued at $52,000 less the oringial bought I got a $18,000 so total loss of $34,000 and there has been massive delays and rents not where I was first told
So my experience is get educated and find good deals and get a good team behind you and don’t leave your self short as it’s not a good feeling