Hi everyone, I am absolutely inspired totally at how everyone gives each other advise and help. When reading from the single mum from Sydney I couldnt believe how good everyone was, giving her advise it was wonderful. I am in a similiar situation, I have three children,and I have 140k just sitting in the bank. I am renting and work part-time as it costs too much for me if I work full-time.Before school and after school care together is too much to pay.I would like to invest my money that I have so that down the track I can buy a house for me and the kids.I dont mind renting at the moment as the kids have all their friends, the school is down the road etc.I would be very grateful to hear from anyone on what they would suggest would the best thing to do with the money I have at the moment.[?]Thank You, Kaz Maybe dreams do come true!
Hi Kaz
I guess it depends on what you like. Some people prefer shares others like bricks and sticks.
Me I like the later. I’m not a financial consultant, but it might be worthwhile looking for a positive cash flow investment property. But if you are receiving single parents benefit payment from Johnnie then you can’t own a property other then the one your living in.
Consider maybe then whether to buy a house to live in. Lots of factors for you to consider there. Re can you make the repayments, can you afford to buy in the area your currently living in?
It my all feel too hard at times but just keep plugging in. You’ll make progress.
BB[
]Thanks Betty for the advice, what do you mean that I cant have a home unless I live in it.I am thinking of buying a unit then rent it out, which will then cover some of my own rent that I pay. I dont know, but I am certainly going to look into all of this.I have tried to get Steves’s book but its sold out, everywhere near here.Thanks again.
You can claim parenting payment if you own an investment property and you can still claim rent assistance if you are renting. I was doing just that until I moved in with my defacto. You must declare your net income you make from rent and you fill out a real estate form with all your income and expenses on it.
I also worked part time as working full time would have left me poorer after I paid for after school care – crazy isn’t it?
Caz Thank you for that information, I think you almost feel like giving up at times,Ill never own my home Ill have to rent for the rest of my life,but I have decided I’m not going to give up I am going to start looking for a unit to rent and take it from there. Thank you so much.
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