Forum Replies Created
Adan, This is a good thread to get going.
Many, many times my friends and I have been asked “where can we start where are the bargains what do we look for”.I am not on the forums much as i dont get the time and find i have to take time out to visit.
With the knowledge my friends and i have developed over the years (i am not complaining about my progress) we still find getting/ working out positive flow deals not easy. but agree that the lower 1/3 of the real estate is the better area, but also agree about the “exceptions to the rule”. I have found that on occasion a house in the middle to upper price bracket comes out in a good financial position. This being that it may only be negative or neutral cash wise for 1 to 2 years then starts to pay for itself, but in the mean time the value has risen reasonably (compareing apples to apples).
I find looking at areas that will come under pressure from redevelopment helpful, near but not beside rail stations and bus ways helpfulSuccessful investing all
[biggrin]Peter,Peter. Yes i’m a baby boomer but sorry mate a fact of life is that most people start of the same way. I started of in a very poor paid job, way below the average. I worked 6 to 7 days a week (2 jobs) just to pay the essential family bills, no holidays, dinners out not even a TV. It took ten (10yrs) to get the deposit for our first modest home.
I was proud of my efforts when it finally eventuated.Six years ago i was wiped out by a divorce settlement that left me with no home, no cash, zero superannuation, zero long service and a very poor attitude to starting out in life again. BUT i still had a average paying job (similar to yours) and through emotional help got the determination to start again. Today i’m in a great financial position, and Yes i own houses that fit my budget, cash flow and speculative parameters, and i rent where i want to live. I once again have very little in the way of nicities of life but have a financial future that is very bright indeed, and nowdays i reward myself with “luxuries” from time to time.
Peter as in all of life our realities and expectations are governed by our attitude and education on relevant subjects. Just trawl the internet, magazines, books and agents for comparative prices and rental returns till you become “educated”, dont give up, look for opportunities expect them to come and they will. Keep a positive attitude and never never give up.
Cheers
[strum][medieval]In reply i’d say , don’t expect someone to give you the answer ,as it has to come from within you as your situation is unique to you. But hopefully i may be able to help. A personal experience. For personal reasons I decided to sell a home at a small loss as in the market at the time nothing was moving. I had done research and had found a nice little 4 bed, brick nd tile, good price and value, better area, i felt it was better value. Doing the deal put me in a position where i was able to be positive geared. It never missed a days rent and improved in value nicely. The home i sold has improved similiarly to my new one, but i am happier and contented with what i did. The Fireman
