Hi to all
haven’t written as yet since becoming a member, and wasn’t even sure where to post this! Have read both of Steve’s books, finding them totally inspiring and hubby and I are finally going to dip our feet in the water of property investing. A bit daunting, but can’t wait to actually DO something, other than read what everyone else does. Hoping to make a start in rural Victoria, as we don’t want to overload with debt. Ifind that’s the scariest part, wondering how one manages if tenants prove to be hard to find. Any thoughts.
Bye for now, Shellby.Welcome Shelby
Debt can be a bit scary, but by structuring it correctly and not overcommitting yourself can save a lot of financial headaches.
Just take you time and don’t rush into anything.
Do heaps of research and figures on any property you are considering purchasing.Also make sure when you do purchase an IP do get Landlords Insurance. This can help if the property is damaged by tenants, do a runner or you have problems getting tenants.
Good Luck
Financial Wellbeing Coach
W: http://www.pfsfinance.com.au
E:[email protected]
E:[email protected]Development Finance Specialist
Shellby,
I would find a couple of reputable property managers in the area you are looking at, and throw some questions at them… asking questions about vacancy rates, average rental per property and the like will help you to discover if the area is worth the risk.
Cheers
Destined
To ‘destined’ & ‘kwilko’,
thanks for replying, wasn’t expecting anyone to reply back, really. This is quite exciting!
I agree with what you both have to say, I just wonder how much you can trust the real estate’s or property managers on their heresay of vacancy rates etc. After all, they want your business.
Also, Steve’s 11 second solution – any I’ve tried this on is way out, does this ever come close for anyone?
Have a great day!! Shellby
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