I think Toowoomba is go go go…house prices in Brissie and surrounds are pushing prices up everywhere and when you look at the facilities of Toowoomba, you can't go wrong. I had a contract on a 4br simple renter for 189,000, but fell through on finance…too much X-Coll…good buying!
Possibility of future subdivision and playing around..in "the olden days", the government used to release small blocks, like 400m, and councils with new regs, required minimum sizes, so it was often the case that two of these small blocks were pruchased out of necessity…my 810m block is made up of 2 small 405 blocks..as I understand it, thats how the government used to pay their servicemen…hope this helps, good luck!!!
Option 1:Sell, learn, make future informed decision about land prices and deriving no income for such an "expensive" piece of land. Option 2: Put a house on it, start deriving income, a bit of hassle to build, but probably worth it in the end… Option 3: Sit still, twiddle your thumb, and make minimal profit…
I'd say perhaps look at doing two of those things at a time. Buy your PPOR, AND an IP…you seem to have ample income for it, so take the plunge. Try to "think big", diversify your portfolio and be proactive. I am also a fan of buying out from the CBD and renovating, and waiting for equalisation. Regradless of what you do, I'd wait possibly 4 more weeks before people start seeing he increase in their repayments and put houses up onto the market. You may find a bargain!!! Also, don't wait too long to act…get in as early as possible…
I have to say no….the Brisbane "mini boom " as I like to call it, has been going for about 3 months and appears to be going higher and higher…so I guess negative gearing must be your friend if you want to invest here….OR, creative rental streams appear to be the only way to go positively geared….
It all depends on your outlook, short and long term…I'm personally a fan of paying off a house, but why the PPOR, why not the IP? Wouldn't that make it cf+ AND with the equity, buy another..remember selling and paying something off just transfers the equity…I hope this helps!!!
Hmmmm…interesting….hard to say how this would work with only 55K pa. Here are some quick pointers:
1. Try to stick to one car, or a car and a motorbike, or a car and a pushy 2. Overdraft facility sounds bad, if you can successfully keep to an overdraft facility, you shouldn't really need it. 3. 740/week income after tax (approx.) should be enough to get a PPOR, or IP, albeit a crappy one. HOWEVER, its one way to start… 4. Do u have mobiles, phone or internet with Telstra, insurance with a bank, pay TV? Time to CRITICALLY review….think about ALL your expenses.
These are just a few hard truths that I see you may need addressing.
I guess in essence, you may need to calculate down to one figure; how much money can you put towards IP/week???
I own 2 propertys and a small share portfolio. Over the last few weeks I sold off some of my shares like many others due to confidence – and consequently lost about 2k. Now I still retain some shares in blue chip companies mind you, but I sometimes goto sleep at night feeling like I want to puke just thinking what the market might do, and either if the market will bounce back or I will lose more money on paper. On the other hand I can goto sleep at night and not worry about my property. There was 1 time however I was stressing every night, and that was in between tenancies were my property manager did not rent my property out for 2 weeks, I simply listed with another agency, and they got it rented out straight away – I suppose in this way you have more control over the situation. Either way both have their pros & cons however me personally I seem to lose less sleep over property cheers guys
Yeah…tell me about it, except I waited 8 weeks!!!!!!!!
I like your site, good read! I like how u say the biggest risk is doing nothing, how true and thats why most people dont do anything to create wealth.
Thanks for the constructive feedback…always looking to write more, so if you find something really interesting that I can add, please email me…
I just wanted to say that perhaps we all need to go and have a small coffee break from this thread, get our thoughts together, hire a boxing ring and then go at it till only one man is standing…seems fair to me…
This thread is interesting..why we are even talking about shares is beyond me, whats this forum called again? ANYWAY, I have these sorts of discussions with lots of people and all I can say, from MY OPINION, is that the psychology behind owning brick and mortar, or fibro and nails, or weatherboard and stumps…is that is is "there in front of you"….yes, people can wank off on how much they made on their IPs or how much they make in the sahremarket, but the important thing to consider is that all these people have began a journey to increase their wealth, hopefully though some risk management process, with either shares or IP…they are not like the majority, slaves to a job, dumb and uneducated (no offense) when it comes to making extra money. So stop being bad little boys and girls, kiss and make up and realise that a LOT of people have become wealthy from IPs and a LOT of people have become wealthy through shares…now stop fighting or I'm going to have to give a detention to someone….