Hi Guys happy easter to all,
I have a little plan that i will like to reach, im only 22 at this present time. I currenlty own an investment property and own the bank about 150k.
I want to purhcase another property witihn 2 to 3 years. By the end of the year i will have about 25 k to 30 k saved in the bank.can any one give advice on a plan i should follow eg; put all the money into another property or put all the money to my current loan (having a fixed loan).
I also need some ideas about shares if any know currently trades on shares could you please msg me on private?
cheer all
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
This is just my own investing style which may or may not suit you. We never pay off loans but instead use savings and generated equity to buy as many properties as we possibly can. I started at 19 and was financially independent at 33 on 9 properties (I don't believe that could have been possible if we were paying off loans!). Nothing is payed off, but properties purchased for $95,000 in the 1990's are now worth $350,000 plus so the debt to equity ratio has been reduced just by market movements.
We are now doing more property "trading" than buying for the long term, we are looking at small development projects, quick renos and subdivisions.
Hope this helps.
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