Forum Replies Created
thanks for your help monopoly and foundation. will put them to good use
I earn $610.00 gross per week not including bonus of up around $50.00 and also without overtime
good thinking Westan. The only concern is that there are no properties in my nearby area that are of such and as such i am a little apprehensive of looking for such properties further away due to work commitments. Do you do these repairs yourself or subcontract workers?
sorry the baa sign was mean’t to mean that I don’t want to be a sheep and follow the rest of the herd. does that help?
In reply to YU YU’s message, I earn $480.00 after tax. This does not include overtime.
Oh on another note has anybody read Robert Kiyosaki’s books or seen any of his conferences. I have read a few books of his and noticed he has some good strategies. Also are there any other good reads? (please note that yes I am currently reading both of Steve McKnights books – AGAIN!!!)
I do appreciate all of your help, but now i am starting to get a bit confused. I think I need to read more books and real estate listings. Would anybody be able to help me to find population rates for areas around Australia that are free. I have been looking but they all the sites I have been to want to rip people off.
Thanks JustAllan. I will start looking into this, and yes I have noticed rental vacancies creeping up. Good luck with your efforts. So far I haven’t been able to find and cheap houses, must be looking in the wrong places – or maybe too fussy!!! If anyone else has any ideas i would love to listen
In reply to shaztaz’s reply, I have seen a mortgage broker and he said that I was eligible for a loan of $200,000.00 but only in certain areas of higher population and stature. Thanks to all for your insights. I will read each reply and take all suggestions onboard. The only problem is I have to grow more confidence and learn to take calculated risks. Thanks again.
Originally posted by shaztaz:Wow, you are a switched on young person!
You have the basics already – a job & and a great savings record. Well done[thumbsup2]
Next step I would suggest is to see a mortgage broker to establish how much you are able to borrow.
Building wealth in property usually requires a long term strategy as you are probably aware. Although its possible to make good money fairly easily during a boom.
I would recommend starting with residential property, and learning lots, before trying more high risk investments such as commercial property.
Positive cash flow properties may interest you and Steve McKight has his great books on that subject, if you haven’t already read them.
Purchasing for Capital Gains is another option (not necessarily +CF), and Peter Spann has an interesting book on that subject called: $10Million Property Portfolio in just 10 Years.
There are other great books on property investing, and I would suggest you read and learn all you can, and come to this forum often – its a great learning tool too.
Sorry to carry on about learning, learning, learning [blush2], but as you gain knowledge you will able to choose the type of property investments that you like and are most comfortable with, rather than just be willing to invest in anything.
Best wishes for an early retirement[biggrin]
Regards,Sharon
