All Topics / The Treasure Chest / Starting out

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  • Profile photo of skalleskalle
    Member
    @skalle
    Join Date: 2003
    Post Count: 5
    September 4, 2003 - 11:12 am

    Hi all,

    This is my first post and after I have read some of the post in this forum I am amazed about the wealth of information here.

    I am currently considering to start investing in property. I have no other investments.

    Can anyone give me some starting out advice. Think to read, places to go, whats “out” and whats “hot”. basicly any advice that can get me started.

    I have been thinking about Brisbane area as Melbourne(Where I live) is way to expensive. I would not even be able to buy my own house if I wasn’t so lucky to buy it 9 years ago for less then 100K.

    Henning

    Profile photo of nugennugen
    Member
    @nugen
    Join Date: 2003
    Post Count: 58
    September 4, 2003 - 11:32 am

    I am in a similar position. I started reading and learning a year ago. Read many books, Jan Somers, Rich Dad Poor Dad, Steve McNight etc. Get a feel for different opinions and make your educated decision on how to invest.

    Good Luck.

    Nu gen

    Profile photo of HaroldHarold
    Member
    @harold
    Join Date: 2003
    Post Count: 80
    September 4, 2003 - 12:20 pm

    To start, just start of small but don’t buy a unit. My only advice

    Profile photo of MiniMogulMiniMogul
    Participant
    @minimogul
    Join Date: 2002
    Post Count: 1,414
    September 4, 2003 - 12:38 pm

    really Harold?
    I have been buying houses on large freehold sections so far, but I am sure the maintenance is a lot more on a house than on a unit. I have been thinking about going for a ‘low maintenance unit’ next time, especially if the cashflow is as good as with a house. Also taking this ageing population thing on board, I am expecting there will be less people that care about big sections and more that want a unit with a little manageable garden in the future. i think as a buy and hold a unit might have certain plusses. Even better would be a block of ’em, but i’m ‘not there’ yet.
    Of course you don’t get the land value so much with a unit though so in a capital gain area I guess it wouldn’t be so good.

    http://www.vocalbureau.com

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 4, 2003 - 10:03 pm

    Hi Skalle

    Welcome to the forum.
    It all depends on what you are after. If you are after capital gain or positive cash flow.
    Having lived in Brissie now for 10 years I guess I have seen both and been lucky enough to have purchased IP’s for capital growth when I first arrived and now only buy +cashflow wrapped properties. Only problem is you might have to look further a field than Brisbane. Email us if you want some details.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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