G’Day all,
Having only joined the forum a week ago I have seen a lot of newcomers post questions very similar to my own initial ones.
Here’s an attempt at a newcomer 1st port of call one stop shop!
Rule number one seems to be conduct plenty of research.
The best place to start would be http://www.realestate.com.au in your area have a real good look around the whole site not just the property searches.
Rule number 2 seems to be research
Checck out the forums. Read heaps. You’ve probably already read some non-electronic stuff now follow the posts and the different threads. There is plenty here for everyone.
Rule number 3 seems to be research
Get data, as much of it as you can, from as many sources as you can
About rents in your chosen area
Sold properties in your area
New developments in your area
Council information
Population informationNewbys 1 stop shop P2
Other useful points
Learn the jargon.
Do a search on the forums for abbreviations. It makes reading posts so much easier.
Use the searches to snswer your questions as well as posts. Most stuff has been discussed around here at some point.
Due Dilligence
Know as much as you can about the property you intend to buy. Everything you wanted to know about it write it down. Then ask someone else to look over your list and get them to add to it.
Poss Vs Neg geared
Gee it really does depend on your situation and circumstances like
deposit
income
area being research
How much property you already hold
How much equity you have in those propertiesI go with do what feels right for you. Ensure you can sleep comfortably at night.
I would love to buy more property right now but I don’t have the deposit and am contributing to a neg geared property that I won’t sell. This will all change when we become a 2 income family again post little chn
Hi Matt,
And welcome!!!!
You forgot rules 4-100+
Research
Research
Research
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“
“
Have fun, enjoy the forum!Jo [lmao]
Thanks Mortgage Advisor,
I guess I was speaking from the point of view of someone who is really champing at the bit to get into investing more heavily but is only constrained but funds, and of course more knowledge from research.
A good point you make.
By the way I’m a Leo.
Matt
Hey Matt
It would seem that we’re in a similar boat. I have just posted a new topic to the forum/website technicalities board suggesting a Newbies page, where all the basics are laid out (All those “stupid” questions (As regarded by the more experienced)).
It sounds like you’re on the right track.Another rule to add to your list could be something along the lines of “Always try to think outside the box”.
Regards
Patrick
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