Forum Replies Created
Here is another idea.
What about doing minimal reno and rent it out. With this idea for the future. Someone in a ealry post was discussing buy Block next to each other and then getting a DA for Sub-Divison and DA for townhouses villas etc and selling the whole thing to developers.
Given you say you are close to the Beach the value in doing this could be fanatastic.
There my take and idea.
Cheers and Goodluck.
TeyluCentral Coast NSW
“What have you done to make your life better?”
Thanks heaps everyone.
My nervous energy has been subdued.
Your advice is great, my partner and me were always looking to get a “In need of TLC property” one so we can add value, and also so we can decorate as we like. It is never going to be our dream home first but definately one step towards it.
Cheers All
TeyluPS Aaron J
What area are you referriong to.
I live at Woy Woy are you talking about Wyoming or further north like Warnervale???Not sure if you’ve entertained this Idea. Or you may already be doing it.
Reducing your mortgage Principal is always a good idea and a method of saving you money in the long run. But the extra cashflow could always be used to re-invest.
Like in the book and the idea I like best is the split 3ways as steve says in the book. Part to existing mortgages part to saving for future property and lastly to savings for emergencices so to speak.
Cheers
TeyluAll is well Kavita,
Thanks for the advice. Good or Bad its all good.
I just want some scope on how to attack thing with my new found knowledge.Cheers Everyone. Mre comments are welcome.
Peace
TeyluMorning,
I am 27 next Thursday and work in Financial Services and also sing in a Covers Band (Cool Hand Joe’s Allstars http://www.geocities.comthe_chja)
I have been made redundant but the date is very much up in the air.
I want to move into Mortgage Broking or work for a Mortgage provider when I finsh up and study Property Valuation part-time.
It fantastic hearing everyones little storys.
Cheers
TeyluThanks for that.
I will check out the NSW Office of State Rev.
Cheers
AlexThanks everyone for your responses I am definately starting to get my heah around the whole thing.
I don’t currently have a mortgage but I am living with my folks. My girl freind and myself are looking to buy a residence to live in for ourselves. Aside from that I am also looking to invest with my old man using the equity in his house as a deposit for my first +ve geared property (actually first property all up).
Interest Only for the initial period then P&I sounds like a good option with out getting in too deep to start off.
Cheers
TeyluCheers Rod.
Can anyone give me the Pros and Cons of Interest Only versus Principle and Interet for a First Time Investor??
Your personal experience would be great to hear.
As I am going to be a investing soon I wanted see what everyone thinks?
Thanks
Alex
