Hi All, My first post so i’ll start here.
I am new to investing and I need some help getting started.
I’ve just recently attained a part time job with a very large Corporation so I may as well start to use my income from that to invest.The problems/confusion I am having are:
– Locating a good buy (perhaps one that passes the 11 second rule)
– Whether to invest in Commercial or residential property
– Whether or not I should consult a financial adviser/planner if so, how do I look for a good adviser/planner
– Finding a suitable and good home loan or maybe using OPMthere may be other problems that I may not be aware of…
Any help is greatly appreciated.
Hi Techhowse,
Welcome to the forum.
IMHO answers to your initial questions go something like this…
– Locating a good buy (perhaps one that passes the 11 second rule)
If you want something that passes the 11 second rule start looking in New Zealand or look for a property in OZ that you can add value to to make the numbers pass the test.
– Whether to invest in Commercial or residential property
If you’re just starting out I beleive that commercial is too risky.
– Whether or not I should consult a financial adviser/planner
Many forumites have many differing views on this so I’ll leave it to someone more qualified to answer.
– Finding a suitable and good home loan or maybe using OPM
Start by talking to a good mortgage broker, there are plenty on this forum.
Wishing you good fotune in your property investing, have fun, Nobleone. [biggrin]
“Making mistakes is just another another tool for learning.”
Hi techhouse,
I’m in the exact same position as you with the same questions. I’ve been doing my initial reasearch on websites like http://www.realestate.com.au to suss out areas est. populations what rent people are paying and what amount these type of properties are going for.
My problem is, I would love some people on theforum to maybe list a few different places in Vic, or Aus that might be worth me spending my time researching.
hI techhowse
i agree with nobleone that New Zealand is a great place to start looking to buy your first IP. I think its really hard to find good deals in OZ. In NZ you can still pick up great deals for under 100k, a great starting price for investing.
Commercial deals are worth considering but better to start with Residential and learn for that.
As far as a financial planner , i wouldn’t waist my time, these guys don’t even do units in their studies on Direct Residential investing. They make their money by selling managed funds and will recommend that you invest in the Stockmarket and most likely property trusts if you want exposure to the real estate market. Having said that, not all Financial planners are the same and there are some excellent ones out there , but check what they think of direct residential investing before you make an appointment. I think yo are far better to read as much as you can about residential investing. Especially read this and other forums.regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
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