Property
If ya wanna know the answer to a question about property, you’re gonna have to ask one
“Looking forward to the day when I can tell the boss where to go”
Look, I Have low paying job. And I want start out buying property. I don’t have enough to buy a property. But I have a small amount in savings.
I’m looking to go to the avenue of partnerships. I know there is this 50/50 risk when you become partners.
There are few I know who are interested and even fewer who can at the moment.
It is frustrating because I know I have a limited set of funds available, but I want to FREE!
And I need to start a plan.
I have been checking the details of areas I’m interesting in and have met someone who has a couple of deals under his belt. (I know he will be ready this post!)
Looking at finance in general and setting up a partnership agreement. I don’t have a high salary or anyone else who can at this time invest with me.
So please give your feed back on my situation typed. As I’m educated in investing in general, but a little gun shy and lack practise in the field.[cigar][confused2]
So I think that partnerships are one of my options and the other is to look for properties around the 30 to 50k mark. And yes, I know about looking for vacancy rate, population,council and businesses in the target market. And also unemployment rates.
So basically if I can find and purchase the propety around that price range![baaa]Low income + wanting to invest in Sydney = [weird]
My advice: start small; maybe a 1br unit, then move up. Even with a partner, things will be hard when you’re on a low income. Sydney prices are shocking, have you thought of investing interstate? Somewhere more affordable like Adelaide or even Melbourne might be the way to go.
Thank you!
I wish to invest in areas outside N.S.W. Like north Queensland and N.Z.
But maybe I should do it as a partnership, but not a 50/50 as I’m not able to do so.I invite people who have experience with partnerships and starting from near the bottom (just about the dole bludgers and people who are entitled to the dole). So I can maybe partner up as my salary is (more than 20,000 and less than 29,00)with someone like the person I talk about earlier. Or I can find a small property that makes sense in all area in the range of $30,000 to maybe $60,000 by myself.
Please comment, as I’m but a hummble and novice investor.
So here the situation so far:
-Have a little under 7 thousand in savings.
-Low income
-Has credit card payed off every month.
-Buys very few dodads!
-Knows what details to look at in target market
-Has been procrastinating for 4 years!
-Has money in stocks, more than a few thousand
-Has met with some who likes property investing and has 3 under the belt.(I know that person is reading this and I’m not saying anything bad about you!)
-Wish to invest in areas outside N.S.W and N.Z
-Thinking about partnership agreements
-Knows about 50/50 liability rule
-Wants to stop talking about it and start doing something about it!
[cigar][confused2]
That it in a nut shell!
I feel as the average joe.(who is not flashy but has substance)the more succefull they get that most don’t want to have a bar of the rookie investor who is taking the first steps to freedom.
But saying that there are those who are good Samaritians.
It seems to me that those who give out sincre advice don’t get enough credit , and I feel I would like to say to all those who do help,those who have taken the steps, trully you people are fantastic!So please keep up the good work and maybe soon or one day soon, I can help people who have trouble or question on real estate investing![biggrin]
Hi Mathon
why don’t you contact Tasman Property, Westan, MiniMogul, wilandel etc. about them finding a property for you in NZ? They can be at the lower end of the scale, and CF+, so that will help your earnings etc………
Cheers
MelMelbear, thanks for the info. It is worth looking into.[suave3]
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