Forum Replies Created
Happy New Year! I feel this year speeding up very fast…!
Could you and other co-owners push the local council for a zoning change?
jayhinrichs wrote:whow… impressed most 20 year olds in the US buying a home is not even on their radar. they are worried about pay for student loans… Do you AUSSIES have to pay for College and or do you get it financed… I bought my first home at 19 in Milpitas CA… But I was raised in a Real Estate family and the house was 60k back in the day.. So 6k down and 500 a month.. But made a pile on it in 2 short years and never looked back.Not many 20 year olds buy houses here either, preferring to travel or spend money in other areas until we settle down. There's no college here only university which is financed to citizens at 0% interest, with the debt amount only raising with inflation. Then we pay it back once we're working, but only if we're earning more than $51,309/year.
I love the responses in this thread! Had I made a thread like this a few years ago it would've saved me quite a bit of money and missed opportunities.
People Are Awesome 2013
My understand is that it would still work and as you grow the offset account, the more your loan gets "paid off" in a way. The big advantage of the strategy is that you can draw upon your offset account (since it's your money) at a moment's notice for any emergency or opportunity. Just ensure that your loan's offset account is true 100% offset as I've heard that a few aren't and catch people by surprise.
Hi Chris, congratulations for being in a position to purchase your first place at 20. I purchased my first place at 20 as well, albeit it was only a house on 500sqm. If I could go back in time, I would take the land as others have mentioned, greater room to add value. But as Mark has mentioned, do a little more research first to get a fair comparison.
Great thread everyone! Some awesome goals here! After being a lurker for 4 years, it's time to contribute.
My goal is to sell my entire portfolio (5 properties) and start again from scratch. I'll be walking away with the same money I invested 3 years ago. From this I'd like to purchase 2 properties in the USA for cash flow, as well as renovate and flip 2 properties here in Australia.
Hi, I've also got Carly's course and will be keen to swap for a Cherie course or USA property investing course if anyone has one.
