Hi Guys!
Long time reader, minimal poster dead keen to start investing! For a few years now i have been researching and reading about property investment. My first ever property book was Seven Steps by Burley, and i found it fascinating!
Then when steve came online (i actually sent a letter to him the day before propertyinvesting.com started asking him to be my mentor! he directed me here).
Anyways to cut a long story short i got sidetracked and with my family got suckered in by Henry Kaye, and lets be honest if you’re anyone who knows anything about property you know we got screwed…royal.
Fast-track to today and my family (and their money) have cooled on the idea of being investors for a while. Nothing i can say or do will convince them to jump on board the McKnight train and steam our way to financial freedom.
So i have to go at it alone. Im 23 got a crappy low income job, and a family with 38k just sitting around in a bank account “because its safer”.
Until i can secure at least 1 postive cashflow property i figure i have to go at it alone. My strategy is to look in rural areas that have a decent population in Victoria and South Australia, as i know both states very well.
The problem is start up money. I have none. But im champing at the bit ready to work my backside off and do whatever it takes to secure my first property.
So guys….
HELP!
Can anyone help me with a workable strategy to get my feet off the gorund? Has anyone been in the situation before…and as interesting side note, anyone else get screwed by Kaye?
I would really appreciate anyone who takes the time to respond.
Thank you
Craig
Hi Craig,
Welcome to the forum. Glad you have finally got the courage to “come out of the closet” so to speak
]Don’t let your average income deter you. There are many posters on this forum who have started with less income and MUCH less in the bank and have achieved GREAT results. Don’t let people stand in your way.
Be cautious, (sorry to hear about Henry Kaye), oh well at least he is getting his now! but don’t sit around waiting for it to fall into your lap.
There are lots of great places to invest. New Zealand is one that I have a few places in. My cheapest cost me $20,500 and it rents out at $100pw. It is in great condition. You could easily get a few of those types if you wanted.
The sky is your limit, don’t settle for a meager one IP, set your goal for what you really want – and go for it! It won’t be easy, but anything worthwhile is not easy.
Good luck,
Sorry to go on, I should give up red wine,[
]Del
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