If you have a PPOR that you own & have enough equity to buy 2 IP’s one to keep as rental, the other to renovate then sell to lower mortgage over PPOR. Would this be a good way to get started? Does your rental income just go off your PPOR mortgage until you can transfer the security to your IP?
scokar

I know i sound stupid, what is LVR?

Veeerrry!

Thanks to everyone for your stories so far. Is it best to use the equity in your own home or have full mortgage over the IP?

I’m in the Wide Bay & Burnett area
scokar

I suppose it depends on what you are looking to achieve& for what purpose you use your vehicle.
If you have reached a goal that you have strived for, put in a LOT of hard work,got your next project in motion & have funds left over then it’s ok to spoil yourself sometimes!
Definately not about looking rich…

Doesn’t anyone here have any investment properties?????
Any advise or helpful info on your first?

Hi Matt,
I am building through alocal builder in Qld- I’m guessing you are in NSW? so not sure if this is any help.
This is the 2nd house(more to come)he has built for us. We measure in sqm here, the house we are having built is 129sqm + 6×3 patio for $130,000 with FULL inclusions that is also with stainless steel fans in every room
” “…[Read more]

We’d be in it, sounds great!
Karen

red_rogue,
Thanks so much for your reply, your advise is appreciated.
Where do i look to find investor meetings in my area?
scokar

Does any one else have any advise about getting started, I haven’t any Investment properties at the moment but intend on that changing very soon. About 5yrs ago I had a bad experience with my very first investment prop. Tenant wasn’t paying rent had to fire leasing agent, hire another in order to take tenant to court to have her evicted. House was…[Read more]

I should of been more specific, he has the money, owns house removal business but has never done any speckies for himself- has no knowledge of paper work involved- Engineering, council, so on. Therefore no experience. Although he owns some IP they sit idle as he doesn’t have the knowledge or time to invest. He is only now looking to Realestate for…[Read more]

Hi,
New to this forum but thought i’d jump in & reply.
We rely on 2 cars as we are in regional Qld.
2004 Toyota Prado
2000 Dawoo Lanos
Proud to say we own them outright!

Thanks for your reply, MH, the investment partner in question is my husbands boss of 10yrs who has his finger in the pie when it comes to Removal homes & already owns substantial amount of real estate so there is a lot of trust there already. Do you know much about the legal side of it, any advise?