It makes a lot of sense. It is precisely because of the supply and demand that I was thinking / researching what does the market want in that area. I will always have to look at the numbers.
I was thinking to buy a property which needed a little bit of reno but I live in Adelaide, so I’m not very sure if I’ll do it or not.
Thanks JacM for taking the time to give so great advice based on your experience. I’m about to buy my first investment property with my partner and I’m trying to clear of my doubts. And I’m also trying to think from a strategic point of view.
What do you think about buying properties in your own name as opposed to trusts? I have seen debates about asset protection because apparently financing for trusts is harder than for individuals.
I live in Adelaide and I’m not aussie lol so I’m not sure if I can find that Sunday Telegraph here. Could you please share a little bit what was that article about? Only if you can
I’ve been also interested in St Marys. Western Sydney seems to be a good place to invest for capital growth at the moment. I also want to buy in St Marys but I live in Adelaide so I’ve thought of organising several inspections for a weekend and maybe go and have a look.
Adelaide doesn’t seem to be a good place for investing at the moment.
I have made some research about st marys with RPdata and Australian Property Investor. I’ve also seen on internet facilities, train station and schools.
It’s good to know what other people have done to have an idea of how things are there. Any other way/method of research/homework ?
This is an interesting topic. My partner and I are going to buy our 1st IP this year, hopefully positive cash flow, so we were wondering if we should put it in a trust or in my name. We don’t own any property or business yet. Many things have been said about this topic, I’m still processing the information. I got some hints here. Thanks for that.
Thank you very much for the information. I’m also a big fan of motivational books/videos and they have been very helpful to change my mindset.
We signed up for a millionaire mindset course with Scott Harris, we won’t start properly until next week. And well let’s see if that makes any miracle lol but still, I enjoy the course, DVD’s and everything.
I think your goal setting technique is very good, it’s very similar to the way I do mine. The biggest challenge for us to get started in property investing is to save the deposit, we are working on that, and it takes time. However, I am trying to find other ways (by myself) of finding other sources of income to be able to accelerate everything.
That’s was awesome ! I you got a good result from that. Thanks for sharing your story with me.
And thanks Mentobe for sharing your story too.
Well, I haven’t made major changes in that respect. I just don’t tell him anything else, because I understood that he doesn’t have to be interested in property investing or internet businesses the way I am. He doesn’t even have to be interested in being financially free…
He works hard (physically really hard), but I think it’s really important that people not only work hard, but also do something for stopping working so hard for others. I have my own say that “If we want to see changes, we have to make changes” and well, I don’t complain anymore so we don’t argue anymore about it (there is a change there).
Meanwhile, I keep reading and educating myself in several subjects as much as I can while saving money, and I just don’t pay attention to that anymore. But you never know, sometimes life brings unexpected changes, I’m not being pessimist, but life it’s like that. And I love him so much that I wouldn’t like to think of him one day, if we’re not together anymore, being trapped in the rat race and regretting for not having made any changes at the 28 years of age he is now.
Hey I just found this article “Together in love, divided in property” in December’s Australian Property Investor lol
I totally agree with it !
That’s gonna be my strategy.
Thanks for your words, I’ll definitely won’t stop. I keep reading. We save money, but I normally have to find external people to discuss things I find on the internet. Who knows, things might change along the way….