Forum Replies Created
Hi Pepsi,
I’ve thought about this same topic alot too. The only way in my opinion is to sacrifice your time. i.e. look for deals before and after work, look for deals on weekends. That means you would need to perhaps give up some things for a short while till you can build up your positive cashflow portfolio.
I don’t think there’s an easy way out. You need to show servicability of the loans with your deals before you quit your day job.
Regards,
TheWizard
Same here ! Thanks Martin !!
A very big surprise I thought you might have run out.[thumbsupanim]
Thanks Stuart ! That was very informative. A nice surprise ! [exhappy].
Hi Matt,
Good idea in regards to getting people around your own age as you can probably relate better. However it would be difficult to have a regular all rounded input from everyone due to inexperience of changing markets and therefore changing strategies.
It’s important to mix and listen to people further along the road of investing as they’re well seasoned and can sugguest better ideas and solutions to problems and that usually but not always means they’re 30+. Also your network is alot larger.
Go here:
https://www.propertyinvesting.com/forum/topic/21084.html
(Sydney Discussion Group)or
http://www.somersoft.com/forums/showthread.php?t=23318
(Sydney Investors Group)Or you can get it at:
Product Store – Books – Motivation.
You can also get DVD’s about Advanced Renovations & a Professional Series DVD if your interested.Hello !
I was born in Singapore came here when I was 2 1/2. My mum’s from Malaysia and my dad is from Singapore.
On my dad’s side they’re all from China. They were farmers. Somewhere along the line I bet they helped build the great wall !
Hi Simmi,
I don’t know how much 2 bedroom fibro homes cost around the Tweed Shire cause it would depend on the land size and the condition of the house.
There are alot of new units, townhouses and developments around that area mainly 3 bedroom.
A new 3 bedroom townhouse is renting between $280-$305 p.w. Most of them are in estates with pool, spa, security, gym, tennis courts etc.I think there will be a new marina built around Dry Dock rd. It’s just behind a set of new developments. I’m not sure if they have started building but that’s what I was told by a RE Agent.
About 3-4 wks ago in the SMH Sat paper it was mentioned that overall property in Tweed Heads has increased by 13%. The whole area is developing and there is a major highway being built around Tugun (just north of Coolangatta).Part of the SE QLD developments for the future. I think there is alot of potential for capital growth in the future. You can get Residex reports for more information.
I’m thinking because of competition from the new developments you should try and renovate to a 3 bedroom. Or do something or advertise something that will set it apart from the other units like a big backyard to have a BBQ, extra storage space in the shed out the back, extra parking space, no major noise restrictions that you get with strata laws.
You need to find out first prices for other similar properties to make sure your not overpaying and also the average rent price for a 2/3 bedroom house. Banora Point & Kingscliff are other popular areas you might want to check out.
If your strategy is for growth then it can potentially be a good property.
Hope this helps.
Financial Planning Support Officer, work under 2 advisers for a Big 4 bank.
I chose speedy gonzalez because I’m actually quite petite and was quite a good runner at school in sports.
TheWizard because I’m part of another blog board which everyone is called “Keyboard Wizards”. “Wizard” was used hence “TheWizard”.
Does it cost anything ? Do we need to cover the cost of hiring out the place ?
Thanks.
I have a sponsor child too in Uganda. Also through Compassion. She’s 8 yrs old. I’ve had her for 2 years now.
It’s amazing how a little bit of money from the western world can make such a big difference to other people’s lives which we take for granted like bread and water.
One reason why I sponsored a child was to have a balanced attitude to money, to be able to give it away to worthy causes and not become very self centred and tight caught up in my journey for financial freedom. Of course you have to look at your budget and not over stretch yourself but it’s good to make room for charity.
2000 Ford Festiva 5 door manual hatch. Very fuel efficient given the increase in petrol prices compared to other cars !
I had the same problem with my server too. Was ready at the web page 3 hrs early counting down the minutes, refreshing my page to make sure I didn’t miss any new link or information. Monitoring how many people were actually on the website. Had my mobile and office phone on speed dial to call at exactly 12pm.
Then at 12pm server crashed. Damm….. Phone was already engaged.
Didn’t manage to send my email till 12:40pm as it took a while for the web page to come up.
I thought it was abit funny cause I knew that the site would have crashed or experienced server problems with everyone just waiting.
Anyway crossing my fingers for a positive result [biggrin] Still waiting on a phone call too……
When ? What time and where does everyone meet ?
Hello !
My plan in the next 5 years is to:
1.Reduce my non deductible debt
2.Buy 1 IP per year
3.Acquire skills, knowledge and equity from my IP’s to start my own business by the end of the 5th year.
4. Finish my professional qualifications in Finance
5. Build a decent portfolio of shares
6. Buy my own homeHowever I would like to buy as many IP’s as I can.
I think that one can achieve your dreams if your willing to sacrifice and pay the cost to reach it. Circumstances would no doubt try and hinder you from achieving your dreams.
But if you make small steps (sub goals) to get there it is better than not going anywhere.
It all depends if your willing and not going to make excuses for your situation but also if you think that the end result is worth it.
[smiling]a) Whether your first property was a PPOR or an IP
IP
b) What made you think about buying a first property and
Needed to start investing and accumulating assets.
Needed capital growth and something to live off in retirement.c)When you found the one you bought, why do that one suit?
Reasonable price, good location near the river, beach, shops, schools, transport, structually sound, demand for rent.
d) Was the first purchase emotive or done under proper due diligence
Both done on emotion and under due diligence
Most suburbs in Western Sydney are going up.
However what type of tennant do you want ? There are higher chances in attracting an unfavourable tenant in some places than others that could cause more damage to your property.
I am planning to buy in the next 12 months.Hoping to find some good deals as interest rates go up.Probably only buy 1 or 2 properties.
Also depends how much equity I have in my current property.
I put an offer down in January. Due to be settled in July on a SE QLD Property.
It is negatively geared. However I want capital growth in my portfolio to help me buy further properties in the future.
