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hardware stores have heaps of info! just found out today
i just read through it then. what i think it is, you buy a property, it goes up in value so you use the equity to buy another one. risk is if one falls down then you need some cash to fix it but since you’ve maxed out the loan then where are you going to get the money from?
property 1 is fine and is renting good
property 2 has a bad tenant and does some serious damage to it. you need cash to fix it and get it rented again. or you sell it cheaper and lose out. you still have loan repayments to be paid while you’re sorting the problem out.to make it work you need to be meticulous. make sure everything is 100% right to make sure the dominos don’t fall down.
if it’s not right, guidance would be appreciate
I put a few grand in colonial first state managed fund and it’s been going really good. i got my quartely statement back the day before yesterday and it has gone up another $700 (from $5,800 to $6,500). that’s a 12% increase in 1 quarter. it goes how the market goes. if the market is going good, then the fund goes good. most managed funds have an entry fee of 4%. so if you put $10,000 in a fund they’d take 4% of that ($400) straight off the bat.
ofcourse there’s all other kinds of managed funds. did you get steve’s email about a new real estate one? about how westpac bought $100 million dollars worth of defense force property? if you didn’t and you’d like it i can easily send it to ya.
don’t believe the lies, find your own truth
ok thanks.
how can i find a local investor group? i’ve been wanting to get involved with one but don’t know where to look. should i ask a local real estate agency?
don’t believe the lies, find your own truth
you have to look at it from the owners point of view too. what would you do if your agent kept bringing you offers of $14k less of what you’re asking when you keep denying them. i’ve known ppl who have been in a similar situation and it gets very annoying.
don’t believe the lies, find your own truth
hey,
why dont you invest in a property that produces some big cashflow, like $1000pw instead of $200 for example? some ideas: block of units, caravan park etc.don’t believe the lies, find your own truth
Originally posted by Geronimo:
The problem with saving (on a paltry 5%) and waiting years for enough deposit, is that by that time property prices may have increased again and you will have an even bigger mortgage than if you found a way into the market now.yea, that’s why i said i was thinking about a med-high risk/return managed fund to build a deposit. are there any other options? other than a private investor.
im just starting out. i earn about $230 a week (im on a traineeship), and from that my only expenses are my phone bill and my car ($100 a week for 12 more weeks). i work a 2nd job for petrol and some spending money. so im saving $400 a month for the deposit, and when the car is paid off i plan to save $600-800 a month.
don’t believe the lies, find your own truth
yes, i’ve heard about those arrangements. i think it was in 0-130 properties that i read about ppl giving money to other ppl to invest in for a return in the investment and other stuff. how do you find those type of connections? are there investor meetings?
don’t believe the lies, find your own truth
yea i’ve sent away for an account there a couple of days ago
don’t believe the lies, find your own truth
