Hi there,
I have been reading the forums here for a few days but now I need to ask for some advice.
We have a small terrace in Newtown Sydney which was rented out on Saturday in about 5 mins flat.
There is only about 100k equity in the house, but we want to keep it and ideally try and buy more in the area, if they will give us the money! We are going to rent down the road and are more than happy with doing that if we can build a portfolio and cash in later on…..delayed gratification I think they call it.I am 36 have a base salary of 115k and my partner is 34 a part time nurse with a salary of 31k, we'd like to release the equity we have to assist with purchasing another place in Newtown or Enmore ideally 3-4 places over time. We have no other savings or investments, so just starting out and want to make up for lost time.
We don't know what the best type of property would be to go for ie a unit or max ourselves with another terrace. The units seem to attract very high strata fee's which sort of put me off a bit. However, we also don't really know what the banks would lend to us anyway at this stage.Can anyone recommend a financial advisor that could assist with developing a property investment plan based on our situation?
thanks!
I think you would struggle to find a financial advisor who will doi anything but advise you to buy shares.
I do recommend this course to people like yourself. It is exceptionally inexpensive and the best value I have ever had.
http://www.navra.com.au/index.asp?content=schedule
None are listed for Sydney atm but they do have them fairly often. If you call and register they will be in touch with dates.
You can then choose to use them as your advisors or not. There is no pressure. But they are the only FAs I have heard of who help people build a property portfolio rather than just flogging managed funds. Not that there is anything wrong with funds – I own several.
Hope this helps,
Simon
Disagree with you first time in 7 years.
I certainly recommend clients purchase property over Managed Funds but then do agree we are a limited breed.
Richard Taylor | Australia's leading private lender
Mortgage Hunter wrote:I think you would struggle to find a financial advisor who will doi anything but advise you to buy shares.I do recommend this course to people like yourself. It is exceptionally inexpensive and the best value I have ever had.
http://www.navra.com.au/index.asp?content=schedule
None are listed for Sydney atm but they do have them fairly often. If you call and register they will be in touch with dates.
You can then choose to use them as your advisors or not. There is no pressure. But they are the only FAs I have heard of who help people build a property portfolio rather than just flogging managed funds. Not that there is anything wrong with funds – I own several.
Hope this helps,
Richard, My poor english. I wasn't recommending shares over property. By course I meant seminar.
The Navra Investment structure seminar is a terrific one and it covers property as well as shares. In fact it shows how a pos geared share portfolio can help fund a negative geared property for high capital growth.
So sorry I expressed myself poorly. I am not recommending either shares or property – if anything I use both to good effect.
Thanks for picking me up mate.
Cheers,
Pleasure Simon Australian is my second language.
Richard Taylor | Australia's leading private lender
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