gday guys,
as you can tell from the amount of posts i have done i am fairly new here. i am 18 years old and love the idea of property investing to obtain passive income. i am a student studying real estate at TAFE and really enjoy it.[
]what i was wondering was, what would be the best way to get into the property investing market. i mean, i have read 0 to 130 properties….. and all of the RDPD books as well as attending his seminar and also a book by Dolf De Roos. i have been reading all the messages, and i just want to start taking action. you know making a plan etc…
just want to know what you guys think would be the best way for an 18 year old to get started on his way to financial freedom.
thanks heaps for reading this far and any ideas would be greatly appreciated!!![
]thanks again
Powmow[]hi
the best way to get into it is find a property and buy it []age has little to do with it…if you have a mature mind, that will take you further than how old you are physically.
best of luck.
If you have limited cash, options are a good strategy. Buy a option on a property and find someone to sell the option to, or do a sandwich lease option where you lease a property with an option to purchase and then sublease it at a higher rent with a higher option price. You could do unlimited numbers of these as you wouldn’t need to qualify for finance. You just have to find them!
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
good on ya mate!
i really dont have any ideas on how you can get started, exept for to buy one!
if you dont have alot of cash, maybe ask your parents to help, they should be glad you want to do something +ve with your money (and maybe a little of theres [
])i got my first one when i was 19 (i’m 20 now), but i didnt do much further education and started working on an above average wage, so i was lucky there, one thing i’ll say is, dont expect people to listen to you or take much notice of you at our age, maybe get a parent or someone older to go around looking at houses with you.
i dont know why, everyone just thinks your a time waster or a dreamer or something, it’s not until you actually hand over the $$$ they start paying you some attention, now i have estate agents calling me!
go one son, go on, you’ll get there, oh and if you’ve reaserched something and think you have a good knowledge of it, beleive in yourself, expecially in this sort of cliamate, everyone was telling me to hold of for intrest rates to go up, i didnt listen to them and in 2 months prices have gone up 30%. just buy when YOUR ready and willing!
NEO
NICE ONE BRUVA!! Nice One Bruv! nice one
Hi Powmow,
I got my first property when i was 20. Many banks tried to tell me I couldn’t have finance – had only just finished university – and tried to tie up my parents as guarantors. I didn’t let them, and now I have a few properties all in my own name!!!!
Do your research, due diligence and all of that stuff – and get out there. You feel pretty damn fine when you have achieved things like this on your own. Happy house hunting.
LR[8D]
Hi Powmow,
I got my first property when i was 20. Many banks tried to tell me I couldn’t have finance – had only just finished university – and tried to tie up my parents as guarantors. I didn’t let them, and now I have a few properties all in my own name!!!!
Do your research, due diligence and all of that stuff – and get out there. You feel pretty damn fine when you have achieved things like this on your own. Happy house hunting.PS Have you been to any banks to see who will help you out – maybe get in contact with one of the brokers on this site – find out what you can do, and plan ahead for what you might want to do. Knowing how much available lending you could get will help you know where you could start looking as well. I assume you would qualify for first home owners grant – maybe you could seek advice about buying to live in for a period, and then turn the house into an investment property.
All sorts of choices …..
LR[8D][
]thanks heaps guys[]this site is just so inspirational and helpful. i was just wondering Neo and Castle Dreamer, if you would mind telling me where you found your first properties to invest in?
i’m not expecting everything to be handed to me on a plate but any little helpful ideas would be fantastic!
i know i am going to have to get out of my area (i live in sydney on the Northern Beaches) but i have been having a little look at proerties on the Central Coast around Terrigal etc and was wondering where you guys started.
any info would be greatly appreciated!!
thanks again guys
Powmow[
]i bought in country vic, but like many areas now its well past its +ve cash flow investing days, as the growth as been massive
NEO
NICE ONE BRUVA!! Nice One Bruv! nice one
Powmow,
At 20 our daughter bought her first property in her name and father’s name – it was easier to get the finance that way. So that may be an option. It has since been refinanced and is now in her name only. She made all the payments etc. Value has doubled.
Last year she bought and we all renovated a unit in Sydney where she lived for 12 months. Midyear she made an offer on a larger unit, sold the reno’d unit in one week. We painted and recarpeted, and put up light fittings to that unit in a few days. Made about $40k equity straight away. She is 27, works full time, and part time uni. I hope this encourages you. All the best.
Anna
hey Anna,
i was just wondering where did your daughter buy her first Property and also where did she purchase in Sydney?
if you don’t mind telling me that is.
thanks alot
[^]Powmow[^]
]
]
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
