Hi all

I don’t agree that you ahve to wait for the years to pass to earn the right to do some of this stuff. Look at Matin Ayles at 30. He started with verry little from what I understand.

I believe it is more about understanding what a person wants, identifying goals, determining appropriate strategies then “doing what ever it takes to get there”. This could mean selling the house, losing the loans, ditching the flash car or whatever other “doodads” have been accumulated and going for the dream.
We only have one chance at this life. Of course there are loads of learnings along the way. AS they say in the share market trading circles, “Plan the trade and trade the plan”. Take account of the risks along the way and work out your own risk profile. Then stick to all this planning etc and you will eventually come out on top.

Mitchy if you have done the due diligence on the potential IP then it should be easy enough to encourage others to come on board and help with the cash.maybe do a JV on the first one or two to gain the experience.

I agree with Redwing. Personal debt is a concern, including debt for a PPOR.

I think it is fantastice that young people are trying to work this stuff out. I’m 48 and it isn’t easier as you get older, I think it is always complex and always needs the same amount of attention if you want to succeed.

Examine your current position thoroughly and work out what you want and need to do to improve it. Think broad and be creative in your solutions. If you put the effort in then it will work.

Sue

Hi Matt

I think Steve has an article on here somewhere about the advantages of renting vs buying to live in.

I took the challenge a coulple of years ago after my divorce, to sell my home and rent.

Advantages of renting for me outway the disadvantages.

I don’t have to pay for maintenance etc and am free to move around to take advantage of deals elsewhere.

My long term plan is to be rid of my J.O.B. so renting helps me get there as I am not responsible for a mortgage on a place of my own. It also frees up my cash much more easily. If I owend a place I would only be able to borrow 80%. This way I can use all availabel cash for investing.

When looking at investing, it could be worthwhile deciding on whether you are looking for Growth or Income. By Growth I don;t just mean relying on Cap Growth, rather looking for propoerties that will increase in value in someway, ie basic reno etc. Then the plan is to buy income producing properties that will eventually free me of my Job.

Good luck it is an amazing journey

Regards
Sue

I agree with Dr X.

It won’t take too long for you to become educated in property investing. At least then you can take responsibility for your own wealth in the longer term rather than leaving it to the mercy of others.

Take the time to learn this stuff and keep the Cash safe in the meantime.

Regards
Sue

Hi Calvin

I would be a bit worried about putting straight Chook poo on the lawn. It is pretty powerful stuff and one of the easiest ways to kill plants of any kind is to fertilise them when they are under STRESS.

I would be looking to get deep roots in the lawn that way you will have a longer lasting and more resilient lawn. Look at the lawn and if it starts to trun blue then water it. But to get a really deep root system you need to water deep but less frequently.
In respect of the algae. Have you done a PH test on your soil. My guess is algae won’t grow if the PH is right. Watering too often can affect your PH. Have you got a local horticulturalist you can consult. If you have garden centeres up your way they often provide a free service or one at a cheaper rate.

Keep us posted on how it is all going.

Regards
Sue

Hi Craig

I saw somewhere else on one of the Forums that you need to factor around $10-15k for sub-dividing. From what i understand that doesn’t include, water sewerage and the like.
Have a look through the posts on this topic. I think I saw it here

Regards
Sue

Here’s my two bobs worth.
There is a saying that goes “if you give a man a fish you feed him for a day, if you teach him how to fish you feed him for a lifetime”

I don’t have kids and to some extent I agree it would be nice to give them a hand up in life. However I believe you could do much better by involving them in your property investing processes, get them involved in the house hunting, finding flaws, positives with particular properties, give them tasks ( easy ones if they are young) that will provide them with the same learnings you are experiencing on this journey. Play the cashflow game with them, teach them the value of money and how to spend their money wisely. Motivate them personally and give them a good sense of their own self-worth. Encourage them to find solutions to problems and instil in them a sense of confidence that they can make the right decisions. Help them work through the difficult times when things don’t quite go as they planned. Also be prepared to learn from them if they have better ideas than you do.
I believe if you can achieve all this then they will find their own path with investing and wealth creation.
It is a fantastic journey you embark on when you have the priviledge of children in your life.

I have heard from several Real Estate Agents and solicitors in Canberra about delays etc during settlement processes that which bank cannot be relied upon to do things on time. Hmmmm interesting!!

Hi Jen
I’m encouraged by your enthusiasm and commitment. Having been recently divorced and lumbered to some extent with a neg geared proerty I empathise.
Keep up the good work, PERSIST, PERSIST, PERSIST and you will succeed in the end.
You go Girl!!!
Regards
Sue

Hi all
I had the same problem since fri, so i contacted Eugene in the office, with much toing and froing of downloads from my pages, he has done a great job and fixed it. It seems he was having difficulty replicating the problem, hence the need for screen snapshots. It seems all clear to me tonight now. Good job Eugene

Hi MA

Well part of it was to do with the need to sell the orginal one as part of a divorce settlement. I also have an investment unit in Melb, which too is on the market as part of the divorce thing. I want to be able to invest in my own name/Unit trust and also have a parcel of cash with which to invest. The melb one currently has the effect of reducing my borrowing capacity from $600k to just over $300k.

To answer your ? re number of properties, it is my intention to have many not just one, this for me personally is a consolidation period as much as anything else.

Sue