Forum Replies Created
Hi Kay,
As one of the new kids to property investing, I’m taking the cautious approach and looking at places before making a decision. It is very time consuming but I simply don’t have the confidence to buy a house unseen. If I buy a property that turns out to be a winner, I’m more likely to try it again. If I buy a property that is a lemon at this early stage I will only have meself to blame. With more confidence and some capital to absorb the odd error in judgement I may buy sight unseen in the future if the reward is worthy of the risk.
Cheers
JaknDi
Simon, Melbear,
Thanks for replying to my questions. As a property investing virgin (so to speak) it is reassuring that there are others out there with various levels of experience and an objective view on another person’s situation. I hope that I will be in the same position to give back a little experience to the new kids, in the future like many people in this forum do every day.
We have looked at our situation and feel that if the right property came around (80-100K) between now and christmas we could get our first +ve geared property this year and keep our property in Perth (-ve geared).
Using fairly conservative figures we could manage another 2 +ve geared properties in 2005. Perhaps if we aimed to have the -ve geared property financially neutral by end 2005 we would be setting ourselves a realistic goal and starting a little more patiently than my initial 4 at once scenario.
I will take your advice Melbear, and contact Simon to discuss my options.
Sometimes when you think about it, you can have your cake and eat it too.
Thanks again for your advice.
JaknDi
