Can someone help me with some advice to get started. i am such a terrible procrastinator – i attended the Master class and it was excellent, and read Steve’s books but for some reason or other i keep sabotaging my own success by not doing anything. Can anyone relate? Can anyone help with some practical advice? i’m living in Perth. looking to sell our house soon to get access to some capital to invest. wanting to create passive income in the least time possible.thanks so much. Libby xox
Libby Phan
I reckon you should keep your house.
Look at open houses every weekend in the area you wish to buy in to get a feel for the market.
Put in low offers until you get one.
Use your home to secure a loan.
Rent it out.
Do it again.
Easy as that!
All the best,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Procrastination is the thief of time.– Edward YoungDon’t I know it [whistle]
I’m also looking to make a start in the game.
Good luck Libby!
If my partner could handle renting again (just finished renting for a year) this is what I would personally do in Perth.
I would either sell my house or stay living in house if I could afford to. Then I would buy a block of land that has titles available and also buy a block of land that is at pre release stage. The pre release one you can usually get alot cheaper and would take about 6 months for titles to become available if you are lucky.
I would build a 4*2 200sqm house on the first block. Once this house is completed I would move into it and sell first house (could rent it out) if not already sold. I would then start building on the block of land that I brought pre release, 200sqm 4*2. Once this one is finished you could sell the house you are in (preferably after a year to avoid capital gains tax) and move into new one and continue the process.
The downfall of this scenario can be you may feel like a gypsy and builders are so unpredictable in Perth at the moment.
hi Hope
I don’t know perth but all the indicators are that there is alot of development over there have a chat with roy gpsnetwork ( He’s probably going to hate me if I get his group wrong)they do reports for your area (perth)(he’s on this board)
have alook at the market and then invest.
I haven’t been to a master class or read any of steves books it would probably be very enjoyable. but I do research all the areas I invest in and currently perth is the flavour of the month.here to help
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