Forum Replies Created
Apologies for any confusion,
When I intially purchased the property I didn’t educate myself with different investing strategies. I purchased an off the plan house and land package. I did intend to purchase a negatively geared property at the time.
Now after reading a few books I am now aware of how positively geared properties are a more logical way to build a property portfolio.I did believe the area was going to experience some growth, allowing me to use the equity to buy more property, however this hasn’t happened yet.
It is not worth selling at this point in time, therefore I am going to continue to keep it negatively geared as originally planned.
When the area does experience growth I will sell and start investing again with a different strategy.I hope this clears up any questions,
Kind Regards,
Jay
I definitely believe that I didn’t do enough research prior to purchasing the property. I did not know exactly what my goals where.
You are right Ethan I shouldn’t be disgruntled over not having enough of a deposit in the first place. In hindsight I should have A) Saved more for a deposit or B) Adjusted my budget prior to purchasing.This was a Buy and Hope. Selling the property now would leave myself a little worse off than when I started.
I’m not in the position right now but would a family trust be a good idea in the long term for the distribution of wealth?
I do believe that IO loans are not all bad news now. Thanks for prompting myself to read up a bit more.
Thanks for the replies.
Thanks Tony,
The property is in the Scenic Rim Region of Queensland and I am hoping that the Bromelton SDA generates some growth in the area.
I will definitely look into creating a trust.
That is pretty impressive!Jay.
