Ford Fairlane replied to the topic Am i too old… in the forum I really havent thought about 11 years, 11 months ago
I really havent thought about it to be perfectly honest. I just cant see myself "working for the man" until retirement age… 55 years of age and retired sounds great to me.. How does that put a slant on things? quick retirement suiting a strategy of buy, renovate cash out as opposed to waiting for time based CG? is that the kind of thing you…[Read more]
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 11 months ago
yeah a little scary..but i am determined!!!!!!
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 11 months ago
Rusty! that doesnt make me feel good! lol
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
awesome responses on this thread and thank you all for them. @Catalyst… yes, i do see your point about going regional being contradictory to my aim of capital growth. I guess the reason for regional is that its more affordable (and serviceable) to start a portfolio without having to pay the city prices
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
Great advice from everyone here! Will definately engage a broker and see what i can borrow and take it from there. Without finance, the idea is dead in the water.
Thanks all, will definately hang around and absorb all the info/advice i can get
Regards
RobFord Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
Hey Derek,
My current bank based on my current salary were prepared to lend me 860 odd thousand (no i didnt go for the lot but a fair chunk). We have owned houses before and this is our first build but have never gone for investment properties. I guess the reason why we havent invested before was my salary was always quite low, until now. I know…[Read more]
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
Well, after just finishing our build (with a project builder) im not sure that subdivision or development are the angles my nerves can handle. Not sure what a GF is (sorry dont have the lingo yet) but definately looking at something a little cheaper that needs not too much work, (ie maybe update floors and kitchen for example) for immediate…[Read more]
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
Thanks guys, i have never considered using Super as i didnt know it existed (the option to use it).
@QLDS007 – would love a copy as ive never considered this option. I have about 70k in super so its definately an option!
@Catalyst – what do you suggest instead of my strategy of buy and wait?
So much to consider but im determined to build a…[Read more]
Ford Fairlane replied to the topic Am i too old… in the forum Help Needed! 11 years, 12 months ago
Thanks red123nz!
Wish i did this 10 years ago when i first thought of it… It was actually the bank themselves that suggested i look at another property (said when they were checking my serviceability of current home loan). Will continue to read to see if there are better strategies than what i outlined above.