Hi everyone…
I’m new to the forum and just wanted to introduce myself…
My story is that I stumbled across Steve’s book mid 2003 after 10 years of dilly dallying around my dream of investing in real estate and decided that enough was enough, did the research and bought a cf+ property about 3 months later…
I manage the property myself which has been fairly easy as I know the ‘turf’ pretty well and the previous owner did the same so they are used to that…[cap]
The problem I’m finding now is all the talk about rising interest rates, cf+ properties drying up and other doubts about potential for capital increase and my ablilty to actually get the funds to finance numbers 2+…[blink]
It seemed so easy in Steve’s book and I did it…! [thumbsupanim]
(the novelty has worn off the smilies now)
In this climate is it better just to pump everything on the one loan to save interest (I know it deductible) and get more cf+ more quickly??? Or push myself to get numbers on the board with how many properties I own???
My goal is/was to buy a property every 6 months and semi retire in 2 1/2 years (30)… but in this climate even though I agree with the guys who say these properties are out there, I don’t know if I can do it anymore [sick3](meloramatic I know)… Should I look at changing this goal… The properties that I have included in this goal were probably going to be around the 100K mark (the first being 83K)
I have, like all of you guys probably, had thoughts of Trusts, overseas investments, property development, wraps etc etc etc….
Am I thinking too much or am I just not being patient???
taz
Hey, welcome to the site/forum!
As for your goal of retiring/semi-retiring at 30, thats the same as my goal. I dont want to HAVE to work by the time Im 30 (to be exact!) Ive just turned 19 and am a firm believer in having goals and sticking to them, however keep in mind the magnitude of what property really is:
* The ‘great Australian dream’ is to own your own home, right? Any thoughts on why only one house is the goal that only 70% of Australians are even trying to acheive? Because properties are so expensive, and they’re a long-term commitment. They have potentially good gains, are a rather safe investment, however can result in losses due to many, MANY factors. Some may be to do with the property itself, zoning changes, political changes, demographic changes… the list goes on. What Im getting to is that having such a short-term goal is great (retiring within 2.5 years), however make sure you dont put too much of a focus on that, as you might be better off delaying it to a purchase every 8 or 12 months rather than 6, and have a top quality balanced portfolio.
Just a thought, but welcome to the game
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
Property Investing is maddening slow at the start. Educate yourself so that when investing starts to get easier and you can see great deals all over the place, you are ready to keep pushing the envelope and really expand your investing more quickly.
If you want to get out of a hole, first stop digging.
thanks holden…
I guess I have had this goal of semi-retiring by 30 since I was 20 and maybe I’m having a mini mid-life crisis that I won’t get there…. perhaps I should be more faithful and patient…
thanks Brenda..
So it’s not just me going mad…. it is just maddening at the start…!
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