Hi
My husband and I have recently sold up and bought down which gave us a little freedom to invest. We are just in the process of buying an investment property and the bank tells us we may be able to buy two more – we are considering at least one more property but I’m just not sure what the pitfalls might be down the track? Any advice or suggestions would be appreciated.
Thanks
Sharon
What are you buying for Tresha ? What are your goals/desired outcomes from investing ? When do you want to get there ? Questions like these will frame the type of properties you buy and how many. Just remember to only do things that bring you closer to your goals.
Enjoy
AD [:0)]
(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
I agree with AD, you have to first set your goals etc.
In regard to pitfalls, they are all situation specific – i.e. if you WRAP the potential ‘down-side’ is completely different to a ‘buy/hold’
First step would be to post your goals & outcomes and let the magic of the forum go to work!!!
Pete
…Beware of the dreamtakers…
Great advice already given Sharon, I’d just like to add that as much as I believe in “getting out of your comfort zone” you still have to be comfortable with what you are doing. Do your research (this site is fantastic), decide what you want to do i.e which investment path you take, and go for it.
All the best
MartyHi Again
Well at this stage I’m 31 and my husband is 36 and we have no dependants. We have a little invested in shares (AMP of course[
]) and we owe about a third of our original mortgage as well as personal super and employer paid super. We have just bought an investment property or in the process. My husband works full time and I work part time while trying to finish my degree externally. So that’s where we are.Now – where do we want to be…..we want to put away now for our retirement. We would like to have control of our lives in retirement ie funds to do the things we want to as well as the time to do it. We aren’t necessarily interested in becoming zillionaires although nobody in their right mind would turn down that offer..we would like to retire earlier than the norm. I guess at this stage that is really the primary goal – to retire early with the funds to enjoy it.
As I said before – the banks have said on top of the property we own/occupy and this new investment property, that we could prolly stretch to buy another 2 properties if we choose to. Because this is all new to us and getting into debt is something we have tried to avoid most of our marraige…its a bit daunting to think about rising our level of debt significantly. Having said this however I am aware that you must spend money in order to make it etc but just how far do we stretch?
What we don’t really know now is if we should just sit on the one investment property for a period of time and then add to our portfolio – or do we take the plunge and do it now – and what are the hazards or pitfalls – or even benefits of either move?
Regards
Sharon
]) and we owe about a third of our original mortgage as well as personal super and employer paid super. We have just bought an investment property or in the process. My husband works full time and I work part time while trying to finish my degree externally. So that’s where we are.The topic ‘How Much To Invest?’ is closed to new replies.
