Forum Replies Created
Thanks Derek
Hi Rob,
There are lots of valuable and heartening posts above. What you can take away from this is that there is more than one way to achieve your goal and age is not the barrier you first think.
Please also be heartened in the fact that you are not the oldest to be looking to their financial future. My husband has just turned 50 while I am 10 years his junior. We have no property to our name at all and until I pushed the issue he had no plans for his (and our) financial future. We are now on a mad race to financial freedom before he reaches retirement. With the help and support of this fine group of like-minded people and also taking advantage of Steve McKnight's invaluable knowledge and experience we feel that our goal is achievable.
Hope this helps.
Lyn
Please be aware I am no expert I have just rented a lot.
Unless the tenant has agreed to that particular maintenance it's up to the owner. The airconditioning unit is a fixture of the house and as such would be the owner's responsibility for repairs and maintenance. The only thing that might change that is if the tenant has done something, like damage the unit, to cause it to lose gas then it would be at their cost (the same as if they break a window) or taken out of their bond. The RTA may be a source of information on this. They provide pretty detailed booklets on owner and tenant responsibilities.
Thanks JacM and Jamie I'll contact Richard.
,Thank you everyone for your valuable comments and advice.
I am currently undertaking the Property Apprenticeship, attend seminars and conferences and read Australian Property Investor magazine.
We have also established a SMSF to take part in Steve's America offer. There is some super remaining and suddenly we are in the position to invest in property. With no other savings this is the only way we can invest.
What I need now are names of trusted and knowledgeable professionals to assist in making this a reality.
Also:
xdrew wrote:If you dont feel your direct family will support you or assist you in your efforts .. grab some like minded folk. Go to a property meeting (there are a couple held around the country). Meet other people who may either be starting out .. like yourself, or have already made that step. The additional confidence in what you know and your root level experience .. may just help you with making that final step.
I feel now that maybe I have some of the support I was seeking. I have never done this before and have enough passion and drive to get me into trouble and not enough knowledge and experience to get me out (or to recognise the danger before I get to that point).
So, thanks again for the support and I'm certain you will be hearing from me again in the near future.
P.S. If anyone does know an accountant and solicitor fluent in SMSF's in the Toowoomba area please let me know.
Cheers,
Lyn
Thanks Derek. I just so happen to be going to Steve's market update in Bris tomorrow night and have been to numerous other events as well. I know what you are saying about people trying to flog something. I have been to a couple that were all day events and about an hour of that was feeding teaser information and the rest was telling me how good their "product/course" would be for me.
I'll certainly look into the an independent broker in the area and see what they have to say.
I did speak to an independent financial advisor about 12 months ago and was told that for $450 he could work with us with budgets and savings plans and super etc – we didn't have the $450 spare at the time.
I know I have to do something – I seriously want to do something. But, I'm one half of a double act and the other half hasn't been on the same wavelength.
Hi Shahin,
To be brutally honest – poor life choices and debt.
By nature I am a saver and I put money aside for future expenses and pay debts off faster than required. When I set my mind to something I usually get it. I managed to marry someone who is the complete opposite.
Hi Derek,
Thanks for the great reply.
I live in a Toowoomba, about 2 hours west of Brisbane. Sorry for not including that earlier.
Apart from the last I am pretty much doing all the others.
My introduction to realestate investing was through books so I have no problem reading to learn – it's how I found this forum, through Steve's book.
I will endeavour to work on the last point.
I was really looking for someone who shares my passion for property investing and my desire to be financially free but who has already started their journey and knows the pitfalls and tricks of the trade so to speak.
Thanks for the comments Derek, I'll keep that in mind.
Cheers, Lyn
Hi Steven,
I'm not an expert, I don't have any property myself (yet). But I'll offer what I can.
Did you mean you had under $30k as a deposit or is it your wage?
If you meant it as a deposit you are well on the way to making this happen. (I wish I had thought about buying property at your age.)
So all I can suggest is to do research, ask questions of people who know more about it than you, and read books and magazines on the subject. There are many ways to buy property and you need to find the way that suits your needs and ability the best. Being a part of this website is a great place to start.
There are still properties around priced between $100k – $150k that are cashflow positive. You could potentially use a $30k deposit to buy one of those. I know Steve McKnight recommends buying with a 20% deposit to avoid Mortgage Insurance but in the end the banks will probably lend higher than that depending on your ability to service a loan. Talk to a mortgage broker to get an idea of how much you are able to borrow on your wage, etc and that may help you work out your strategy.
Like I said, I'm not an expert and there are plenty of others on this site who can offer better advice than I. So, good luck with your venture.
Cheers, Lyn
Hi MacQ,
I live in Toowoomba and would be happy to give you some info on suburbs, etc for Toowoomba.
Depending on what you are looking for will determine what info i can give you.
Is it a house or unit you are looking for? Price range and budget? What type of tenant you are looking for….
Toowoomba is a regional town with a population smaller than some of the suburbs in Sydney so although suburb location and proximity to CBD is important it does not have the same impact as in the capital cities.Cheers,
Lynbrizziegirl wrote:TonyLyn wrote:Hi,
We are new to investing and live in the Toowoomba area. We are also looking to invest in the area to take advantage of local knowledge.
Are there any investors that are investing in Toowoomba and can provide mentoring and/or contacts for trades and reliable service providers in the area (ie trustworthy and knowledgable accountants and lawyers)?Your help would be greatly appreciated.
Cheers,
Lyn and TonyActually I'm just looking at the idea of investing in Toowoomba and I live in Brisbane. I would really appreciate some local area info if possible to get to know how locals view the different areas. Cheers
Hi Brizziegirl,
I'm happy to give you my ideas on the various areas within Toowoomba but even I am approaching other people within the real estate world with local knowledge to gain a better understanding of the markets.
My email is [email protected] if you would like to ask me anything.Cheers,
Lyn
