Hey there, I am a beginner to the investing game and have $300000 to spend and have no idea where to begin. Any advice would be great..
Hi drainosky,
First of all, welcome to the forum and congratulations on taking the action to reach out to people to get advice.
My suggestion is for you to first set your life/investment goals and understand the WHY behind these goals. Then look at what vehicles (property, shares, etc) you can use to reach your goals. Then only work on the HOW.
Advice more specific to property:
I think you are in an excellent situation to build a massive property portfolio. Assuming a 90% LVR, you can build a portfolio of around $2.7-2.8 million. This obviously assumes you won’t have serviceability issues.
Regards
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi, and welcome to the forum. You could start by sharing it with me. No? Ok, a lot will depend on what you want to achieve and your goals. Did you want to put it all into real estate or some into shares and or managed funds? Were you looking for income now, or are you thinking ‘long term’. Is the 300K ‘yours outright’ or is it equity in existing property? If you have allocated this amount just to invest in real estate (and why not?), you could buy one or two properties outright, or you could use it to fund quite a few deposits on cheaper good yielding properties. Trying to keep your deposits to 20% is great if you can do it, but using a 5 or 10 % deposit puts you in a pretty good position to control a fair bit of property, if you can service the loans (with rental included of course as income) It really comes down to what you have in mind. No one can tell you what you should do, but with a bit more infor you will find plenty of people on the forum will give you food for thought. [aacool]All the best with your journey.[strum]
Hey thanks, Well I have $300,000 CASH. But have no decent financial’s but able to service anything basically. Property is what i want to do nothing else as i have been burnt before with shares. Where are we in today’s market.. Should i buy whatever i can and sit and wait. Should i do small development’s in adelaide for example.. I was originaly going to buy one house for the family and that was that. But after reading all the book’s and information it seem’s like the worst move. I guess a plan is the best option to start. Just not sure what i should be doing. looking for positive which seem’s near impossible these day’s or developing small houses to sell on completion.. no idea.! I want high turnover and make some money this year..l Any help is great and appreciated.
What you should do is watch out for people who want to make money out of you. Be critical of any advice you receive.
If you are interested in property and renovations, you could buy a property, paying cash, then do it up and then mortgage it. Hopefully you will end up getting a higher value loan meaning less of your money is needed.
If you have no proof of income you can still qualify for No Doc loans at around 70% LVR.
Terryw
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi drainosky,
Assuming financial independance is your goal…
How old are you?
Are you working? What sort of income?
Are you renting? in which area?If you can answer these questions,
I’m sure people here will be able to help you out even more.Cheers,
“There is nothing scarier than ignorance in action”
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