Hi everyone, just joined. Have read steve’s book and feel really inspired but also a bit scared of stuffing up so I am giving myself a headache reading as much info as I can but getting very confused with the conflicting advice.I’m in WA andsome say we are still in a boom market others say we are heading for a serios crash.Can anyone give me some REAL advise on where I should start on my way to financial freedom?[confused2]
In Steves book you would have read about how hard it is to pick the growth cycle of the market and that it only occurs 1/3 of the time.
You need to decide on what strategy you are after.
Do you want to start off small and have a large deposit and instant positive cash flow or work hard at paying off enough to get the property to a positive cash flow situation. The growth if it occurs is a bonus as the goal is getting to positve cash flow.or are you after growth and want negative gearing where you have to cover the short fall.
Usually high capital growth gives a low rental return.
and low capital growth will give higher rental returns
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Sharron,
Welcome to the world of property investing.
There is no Get-Rich-Pill you can take, but you will need a strong desire to succeed. To be successful in property you really do need a good system in place, so my advice would be to follow our 7 step process.
Step 1 Set your financial goals
Step 2 Prepare a budget
Step 3 Set an investment strategy
Step 4 Build your team
Step 5 Start researching
Step 6 Prepare a Feasibility study
Step 7 Negotiate the deal and repeat!……..Oh and keep reading, knowledge is power!
Best wishes,
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
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