As a starting invester i would like to see what people think about my ideas
with tight budgeting i can put away 4-500 away a week with nothing down at the moment due to bad spending habits
Do I
1. save for 20 weeks and use 10K to start positively geared properties in rural areas
2. Look for investment partners to speed up the process and spread the profits
3. Get agresive and start with wraps and or spotting fees?
I often see this. Raising funds is not easy. Sure you might be able to give a high return, but beginners usually have little experience in real estate, I really do question what would happen to beginner investors if something really bad happens especially when they don’t have the number of proeprties to keep paying the investor the return they expect).
I would suggest you get a least 4 deals under your belt before you even think about getting investor funds.
Rgds.
Lucifer_auhi cousinwooly,
get your self-confessed bad spending habits under control… sock away your cash in an ING or Citibank online account that give 5%+ interest. Save up for at least 6-12 months. Don’t be in a hurry because deals bob up all the time. Sure they might not all yield 10.4% but they’re good none the less. If you’re struggling to find something, just sit tight, because in 12 months or so I reckon better and better deals will bob up as property continues to be “on the nose” for the majority.
Also, ask yourself, why would investment partners give you money if you have no experience and a poor financial record? I certainly wouldn’t.
cheers
r
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