Did anyone see the current affairs show tonight where John Symonds was saying that anyone that already owns a property (or two) is in a much better financial position than those yet to get on teh property merry go round. he said that property is heading the way of America where people rent for life because they can't afford to buy a home.

Interesting perspective..
cheers

Sonya

HI i bought my first proeprty at 23 when I was still living at home and in conjunction with my twin brother. Unfortunately that property and another house were casualties of my divorce. I am now 41 and had to start again after the divorce. Now in the past three years I have bought my PPOR, three iPs and looking for another one. I have bought cashflow positive properties in large rural areas that have been tenanted from day one (except one that took three weeks to tenant) They have never been vacant. i have three children, i support them myself with no financial or other support from their father. I earn $55k a year.

My car is ten years old, we go camping for holidays or travel back to the Blue M ountains to visit friends that we used to live near. My children do not go with out, i don't feel like I miss out, and any sacrifice is worth it to be able to build a secure financial future.

I am planning to travel to the UK in 14 months to visit my brother who has moved there for the next three years.

I don't drink or smoke so that is a huge saving.

If you are serious about taking care of your financial future there are many opportunities to get started, you don't have to earn a huge amount of money, just have your money work harder and smarter for you.

good luck

Sonya

I was fortunate enough to get my two IPs insulated before the scheme was dumped, but now I am wondering whether they have been done properly or by one of these cowboys that jumped on the bandwagon with no clue about correct insulation installation. A local family, well known by my dad who passed away late last year, lost their son when he was electrocuted in QLD. He was following procedures, however, he had only recently raised concerns regarding the QLD process of using metal staples to hold the metal insulation in place. This was how he was electrocuted, stapling this material in place.

With regards to the people out of work, wasn't this a limited offer with regards to funding adn time frame? Surely these people did not think that this was a long term job?  Admittedly they may have expected to have work for a longer time frame. Lets see what otehr poor decisions this government makes before the next election

cheers

Sonya

You will need to provide a few more details in order to answer your question. firstly, what is your budget? What do you consider a 'good yield'? AS you are overseas you would not be entitled to to the tax return benefits of an Australian resident, therefore what may be a good yield for a resident may not be a good yield for you. Also it depends on where you are, exchange rates and so on.

cheers

Sonya

I agree with Dwolfe and shales, and if you have read any of the Rich Dad poor dad books, kyosaki also talks about getting more bang for your buck as well as spreading the risk by buying three or four cheaper properties rather than one super expensive one. i don't know many people who choose to buy an IP worth $1 million. There would be some people who may have a property now valued at $1 million, but few, if any who paid this much for the property.

If you have an area in mind to buy in, which doesn't have to WA just because that is where you are liveing. Get on real Estate.com look at the property prices, then look on the rental pages of that site to see what they may rent for. Remember to compare apples with apples and also consider that just because a property is listed for sale at $400K doesn't mean that it will sell for that figure.

Good luck,

cheers

Sonya

Maybe I am naive, but when I was a tenant I always bought and replaced any blown light bulbs. i have three IPs and am yet to pay for lightbulbs. i would have thought that they would be like toilet paper. They are somethinng that the tenant needs and uses and are not 'aatached' to the property like carpets or even window furnishings, so should be replaced by the tenant.  This discussion reminds me of the hosue that my friend purchased in the BLue Mountains,  a Lovely mult level home in the high $400k range and the vendor removed all the light bulbs before they moved out, I was gobsmacked at their stinginess.

Cheers

Sonya

Hi.

It is always a good idea to listen to people who have 'been there, done that'. I personally have no knowledge of the group that you are asking about, however, i would be wary of groups that charge you large sums of money for information and/or  push their own developments. This forum that we are on is full of people with a range of experiences and skills. Also there are some great authors that have their own approaches to real estate investing, most of whom you can find at any decent library. Find out as much information as you can, research the area and type of real estate that interests you and then find the property that best suits your criteria. Good luck Sonya

Also, people sometimes refinance after the five year time  frame to then have another five years interest only.