Tommymac

Tommymac replied to the topic New and Overwhelmed in the forum Help Needed! 7 years, 10 months ago

I’m potentially moving to the Hunter Valley in the next 12 months and I have been looking online around the Singleton/Cessnock area.

When you say buy/renovate/hold – does that mean you buy it, renovate it and rent it out positively geared? If you did it this way do you use the mortgage you have on the property and refinance it to reinvest?

Tommymac replied to the topic New and Overwhelmed in the forum Help Needed! 7 years, 10 months ago

Hi Corey,

Thanks a lot for the reply.

I guess when I said “flip” property I wasn’t really aware of what I was saying.

I guess the vision I have is buying residential property and renovating to create profit.

The other vision that I have is to buy cheap land, sub-divide, build cheap units and sell at a profit to re-invest.

Which of these…[Read more]

Tommymac replied to the topic New and Overwhelmed in the forum Help Needed! 7 years, 10 months ago

Thanks Tony,

I really appreciate the feedback.

If you feel that flipping property is risky, do you feel that a buy/hold positively geared strategy can help me achieve my goal?

Also, what mediums are the best in order to do research for growth suburbs?

Cheers,

Tommymac started the topic New and Overwhelmed in the forum Help Needed! 7 years, 10 months ago

Hi everyone,

I am new to this site and new the concept of investing, particularly property investing.

I have just finished reading Steve’s book, “0 to 130 properties in 3.5 years”, and thoroughly enjoyed it. I am now at the point of feeling overwhelmed and not sure what my next move should be.

I’ve developed a plan that I want to own $1125000…[Read more]