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Hi Qlds007, I still feel that salary sacrifice may not be the best strategy for me at my age, it is a great longer term strategy but i feel locking away more money now might limit my investing abilities later on, or is there something that i'm missing
Thanks guys some great advice, i have though about building on the block and will but i'm leaving that for now for personal reasons (seperated and its near the x and its still pretty soon). With the renovating side of things i have put in a lot of thought (no number crunching yet) with what i could and couldnt do, i do get 5 weeks off at a time and i do enjoy getting dirty and with a good strategy and a lot of planning i feel i could do this in the time frame, obviously depends on the property. Qlds 007 the strategies your talking about are they a combination of positive cash flow propertys and negative cash flow for better capital growth areas to compensate each other? I really have not thought much about SMSF as i always thought i was to young to be locking that money away, but i guess i'm still very nieve on the subject. Wilko1 with the salary sacrifice do you think this is a good stretegy for tax savings, to save money seperately to buy propertys simitainously or a combination of both? Thanks for the comments its great to here all points keep them coming….
Hi JacM,thanks for the reply, Newcastle wont be short term as it is were i'm from originally. My strategy is to buy a house that needs a bit of a renovation, i have renovated before and i'm a wall and floor tiler by trade (thats not what i'm doing now) so i'm aware of what's needed. my main question is really what is best to buy first IP-PPOR ? for me in my current situation?. I do plan on buying another property as soon as i can free some cash up, ie equity or savings. I have not looked into smsf i'm 34yr and i don't really have alot in there so i havent considered it. One thing i forgot to ask is buying a new IP a better option for me, or an older one to renovate?
Hi Jamie, Thanks for the reply and link. Tax is defiantly not my motivator to buy a property but it is a consideration that i'm taking onboard, i guess i feel i'm in a good situation (making the most out of a bad situation) to not have to live in a PPOR so i'm basically looking for the best strategy for me to take.
