Forum Replies Created
I think you need to hit the road and start looking at properties, auctions, internet, newspapers (real estate section) etc and try to establish what you’re looking for. You need to establish how much you can comfortably spend without cramping your lifestyle, but spend enough to get you out of your comfort zone.There is nothing like being self taught. Education is the key, you need to know the ins and outs of the market, like why is the person selling this property, is it overpriced, is the agent spinning me a yarn, is there potential good growth or +ve cashflow, There are so many things to consider but you will learn all of these with time. I’ve been investing in real estate for nearly ten years and have learnt so much. You need to take educated risks. I’ve just signed for a property on the Sunshine coast at Maroochydore. I looked at price, availability of similar properties, reason for sale, will market be flooded with same type of property, age, tenant market, location, infrastructure in the area, bus services, shops, transport routes, development potential. The list goes on but all this can be learned with hitting the road and looking. Start looking now. Some days I spend little time watching the market and other days it consumes me. Look around the area and surrounds you live in to start with as you have inside knowledge of happenings in the area. Don’t be too concerned just yet about interest rates either, I think the economy is running OK, everybody is in high dept from the property boom, oil prices are high and if they raised the interest rates they could tip the balance and cause a selling frenzy driving us towards a recession?
Scott Bevis
Have a look at land/properties on Magnetic Island. I nearly purchased some land there a few weeks back for a quick turn around and sell again after long settlement. Still some intersting places available there but you need to look hard. The developers are moving in there and its pretty much a captive audience. Could be a good place to invest as its only 8km from Townsville with power and water from the mainland. I’m still having a sniff around as a friend is living over there at the moment for work.
Scott Bevis
Does anyone know the cost for horse adjistment. I have a vacant block available to me that is not zoned residential and cannot have a house on it. If the returns are good I may make an offer on the block.[biggrin]
Scott Bevis
Not sure where you live but I’ve had a look at one of my tenancy agreements. This one is through the RTA http://www.rta.qld.gov.au Part 11 page 3 of 10 shows the special terms that are the responsibilities of the tenant. It gives an idea of things such as pets, pest control, front garden and back yard etc. Check the website for the Tenancy authority for your area. I’ve dowloaded and used these forms often.
Scott Bevis
I’m with the ANZ bank. They were more flexible for me but I did have to do alot more convincing before they would agree to give me the money. I switched from Westpac as they were stuffing me around.
Scott Bevis
I’m not concerned that the prices are increasing due to our contribution to their economy. Watch and see what the government does there and if they think it will be a problem they will put something in place to fix it and keep the prices down or the Aussies out. Maybe interest rates, tax on Aussie investors, who knows? If you see an opportunity take it or someone else will. There is not many Kiwis over there anyway – they’re all here! Sorry to any Kiwis online its just that Aussie / Kiwi thing [baaa]
Scott Bevis
You are looking for details on what investing has done to peoples’ lifestyles. Back in 1994 I had a bad car accident and due to complete ignorance and stupidity didn’t have insurance. As a result I was taken to the cleaners. In 1997 I began using a financial planner. My investing began then in the Brisbane market. I’ve got 4 properties accross Brisbane totalling over $1.5m. I now own my own home. The other 3 properties are -ve geared. I still work and this has slowed my further investing as further investment repayment in a -ve sense could tip me over the edge. I’m in a safe area at the moment but am seriously thinking of selling to get profits and invest +ve. My lifestyle hasn’t changed much at all. I live a basic life and live well below my means. I have a comfortable lifestyle and am gearing up for a more educated aggressive approach for the new year. The aim is to leave work and invest fulltime. I love this way of increasing financial well-being. I’m not greedy and believe this would be my downturn if I was. I do also return a portion of my profits back to the community. (God helps those who help themselves & you reap what you sow) Hope this helps with what you are looking for.[biggrin]
Scott Bevis
