Forum Replies Created
Wow – Ali G – you sure have gotten everyone rallying behind you on this!!! All good in my books.
There is one thing I did want to add to the huge amount of good suggestions on this post, and that is to find those family/friends who have negative comments but are willing to listen to your side. These people are much more valuable to you than those who either tell you “Go for it!” or “You’re Nuts!!” without looking at the details.
I have a couple of friends who I regularly use to play “Devils Advocate” on all my business/investment ideas. It is very easy to get caught up in a deal you are very passionate about (as I have) but having someone giving you the worst possible scenario helps you to minimise risk. If it wasn’t for people like that I would have around 5 properties by now, but only 2 would have been doing well – the other 3 would have lost me a heap of money.
Funnily enough, becuase of their (negative) input I now only own the 2 properties which are doing well!
Good luck with all your endeavours.
Matt P
Well, I guess I’m at the other end of the spectrum compared to people like Westan.
A couple of years ago, a friend of mine quit his job in IT sales and went into property investing. I don’t think he’s got to where he wants to go yet, but he has between 10-15 properties (that I know of) and has also done some developments in Qld. He is the one who really sparked my interest in IP’s and has helped his mates out with a few investments, all of which have been very positive. That was easy becuase there was a bit of a safety blanket effect. I had faith in his knowledge of the market. Now its time for me to learn & learn & learn so that I can do it on my own.
I know it sounds strange, but it has taken a lot of time to build up the courage to go out and buy a property. Why? Because, like all of you, I see the value in +ve geared IP’s and have started to look in regional VIC. Not knowing much about property to begin with, its even more scary moving out of the Melbourne comfort zone.
So thats my story thus far. I’m at the stage where my excitement about IP’s is just reaching boiling point and I am hoping to start my journey with my first IP in the next month [thumbsup2].
Wish me luck!!! [worried]
Cheers
Matt
Thanks Westan
Might head up for a weekend to check it out.
Cheers
Matt
