Hello EVERYONE,
My Husband and myself have been looking at investing for a long time. We did have a deposit down on a one bedroom appartment a long time ago but eneded up withdrawing due to the out lay a month was going to cost us more htat we would have made in rent, with a mortuage already we did not want to be out of pocket.
Since then we have bene kicking ourselves as the apprtment sold a year later and money was made on it.
Since then my hubby fell ill and we had our first child.
We have been on one wage on and off for about four years while my hubby was getting better. We are now ready to venture back into the property market and hopefully make our lives a lot easier than it is now..With all this being said do you think we would be able to go ahead with something as interesting as this ?
Regards,
Leeanne1
YES!
Much more information is required. Speak to a mortgage broker about your situation and give them the figures.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Thankyou for all this information and Advice on postings.
Will look into all you have supplied, and make our move once we have investigated more.Leeanne1
What is your strategy….. income today and less capital growth…. or little to no income today and capital growth later? Negative gearing negative cashflow,Negative gearing and positive cashflow, or positive cashflow?
the world is your oyster… you just need to define what it is that you want to aim for and make is crystal clear so that you do not deviate from the path you have chosen….
Best of luck…
Cheers
Kiwi[baaa]Leanne, sarcasm is not required. I said “More information is required!”.
I can’t see how we can provide you with information if you do not provide information for us to work with. I answered your question with a “Yes” as I could not provide any other information based on what you wrote.
Income figures would be helpful, savings, type of property you are interested in, what areas, what price, and so on….
Sorry if you thought I was being rude.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I agree with Kiwi and Robert.
It seems that you have the deposit and only saw one property.
I certainly will not buy the first one I see. Falling in love is cost in this game.
There are books in the ecconomics section in your local library, go there and read some. They are free. And then you will understand what Kiwi and Rob are talking about.
I started with the 100:10:3:1 rule. Yea, I did went out to see properties. I was amazed how much I learn after I saw the first 50, and put in 3 offers. I finally bought one when I saw the 73th. It was a two BRM unit. The living room was big. I bought it, partition the living room for another BRM, painted the whole unite, change the carpet, and then rent it. You bet that it is a cash flow positive. Yes, it is.
I did the same as IQ and now most of my transactions are done to the verbal agreement over the phone as I know my areas very well. I get agent that contact me all thetime with the deal of the century …. and usually after a few minutes over the phone I can work out if I am gong to bother getting out of my seat and even look at the property. Sometimes I do not even go an dlook at the property as I know the building report and pests will give me a good indication of hte condition…. if it comes up with alarm bells in any way I call and chat withthe inspectors I have used and then decide whehter I wish to negotiate better terms with the new information… or just drop the deal… after all what is $1K if you are saving making a big financial mistake…. – I don’t suggest trying this at home folks until you have good gut feel for what you are doing here.
Cheers and good hunting,
Kiwi
[baaa]Thankyou all for you replies.
I will take a look at the local libary and do some more reading.
I am reading a book at the moment from Anita Bell. It is called ” howe to pay a mortuage off in five years ” Has anyone heard of this Author?
Can anyone sugest any particular books that will be good.?
We are on one wage for now. My hubby is getting better with every day and is looking to go back to work in the new year. I bring home, nearly 600 dollars a week, i have A $275 a week for my mortuage and shopping and bills. Money is tight but we want to start looking for our future and that of our children.
Any thoughts on if it is too hard on one wage?Leeann1
Regarding Anita Bell, I do not rate her books as any use other than how to find food in a garbage bin or make a bed out of old tyres…
Anyone can pay their mortgage off quickly if they strip their life of any dignity and live on less than what it costs to sponsor a child in a third world country. The hard thing is paying your mortgage off quickly AND living well!!!
Anyway, enough said about her books….
About whether it is too hard on one wage, that is a question for you when you do your budget. If you buy positive geared property then your income increases. If the property sits vacant, you have to cover the whole repayment yourself. If you feel comfortable that you can do this or have enough in reserve to cover you between tenants, why not have a go at increase your wealth and income?
Nothing is TOO HARD when you put your mind to it.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdDear Robert,
Thankyou for your Advice on Anita Bell books, i have not seen itin that light before and going back over some pages i agree with what you said….
We really do wnat to give property investments A go…
Can you Sugest any books that will help me understand how property investing or anything similar that will increase my Knowledge,,,,Cheers,
Leeanne1 [biggrin]
Hi Leanne,
A list of other reads;
https://www.propertyinvesting.com/forum/topic/6845.html
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping.
Thankyou Derek,
I will go and have a look.
Cheers
I think Steve’s first book provides a lot of low cost ideas to purchase or control property investments.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd[biggrin]Cool thanks,
I will go and have a look for steve’s first book.
Thanks for the help.
Cheers,
Leeanne1 [biggrin]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
