Hi everyone, im new to this forum so excuse my ignorance.
For the last two years all i have been doing is reading and trying to learn all ican about property. But alas the more i learn the more confused i get.
I know what i want to achieve, but just dont know how to get started.
Here’s my situation.
Im 30 and i live in the Barossa valley in S.A
Myself and my fiance built our home three years ago and have about 80k in equity on the place.
we both work in the wine game and have a combined income of about 100k.
We recently purchased a fairly prime block for 83k
and hope to develope it with 3 dwellings, we owe the whole 83k.What i want is to be able to leave my job and earn a living investing in property, like steve does. Heres the thing though, all i seem to get is negativity from friends and family, and i dont know where to turn for advice anymore. I know what can be achieved, i just dont know where to start though.
What i would really like is a mentor, someone who knows the game in my state and area. someone who can guide me and help me get going.
So i guess what im looking for is a person who gets satisfaction from helping someone like me get a start in this game of realestate.Sorry about the long winded dribble, but i dont know what else to do.
Any advice would be appreciated, cheers
Scott.Hi Scottybe,
don’t worry of your loved ones they aren’t going in the same direction as you are. I wouldn’t even mention anything else to them about property investing as you will probably get more of the same and you don’t need to hear it.
As for a mentor….well… thats not me but there is a wealth of knowledge and experience here on this forum. Just ask heaps of questions!
Matt
I agree with Matt in that you probably should not discuss with your non investing friends. They will either steer you in the wrong direction or discourage you altogether.
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
Thanks guys for your encouraging words, it’s good to hear something positive.[biggrin]
Great Scott! – Don’t be discouraged by your mates rellies and friends – haven’t you heard the analogy of a crab pot? If a crab gets in with a bunch more, and tries to get out, the others see him and pull him back down. If he keeps trying, they pull off his legs to stop him.
It’s the same in our culture – if I get up at work and say! That’s IT! I am going to start investing so I can quit in 5 years, they would all laugh and scoff, and if they saw I was serious, the jibes would get more serious. Finally someone would come and “have a talk” with me and cite examples of why it can’t be done.
BOLLOCKS. there’s plenty of people who have made a decision and thought THATS IT! I’m doing something RIGHT NOW.
You’ve made that decision already. Don’t waver. Get on with it!
I am copping a lot of flak, imaginary and real from my rellies about selling up my share portfolio (see “Sell it or keep it thread”)
But hey – did these friends and rellies become independently wealthy? Probably not!
Go for it Scott! Determine in your heart not to listen too closely to advice from people who haven’t seriously been having a go at their own success!
Hi There!
I am new to these forums and I currently and learning as much information as possible. My husband and I have built two houses and currently building another one for investments for our future. We are doing this with the equity from his parents house.I know what it is like to hear other people friends/family that dont understand why etc etc. We rent our home as we have our mortgages are our investments as we reduce our tax and bad debt.
I have a family member that is a mortage broker and he doesn’t understand why we rent so I just give up explaining.
We have a fantastic financial adviser that looks after us very well, however you still need to understand it yourself.
Go with what you know is right and you can take or leave information people give you. You dont’ have to take it all. Most times everyone else thinks they know better.
Good Luck and these forums are fantastic!
Gizmo [cap]Thanks again everyone for your support, its good to hear.
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