Hi everyone
I'd just like to wish happy new years to you and your families
I was given Steve's "From 0 to 260+ properties in 7 years" for christmas and I've read through it already and loved it. I'm now going through it again chapter by chapter. There's a ton of useful info in it and I will be applying it in all my future IP deals.
At the moment, I already have 1 -ve geared IP, and I've put down a deposit on a second one in the heart of the Melbourne CBD (this one doesn't settle till November/December 2008).
I also know that I want to start up some sort of business to build a property and share portfolio, but at this stage I'm still feeling around in the dark. Does anyone know of any good sites / resources which would describe the different business structures. Is it even worthwhile setting up a business for this purpose if I am the only employee?
Your input would be much appreciated!
Happy holidays!
KurtHi Kurt,
Happy New Year to you and your family!
Welcome to the forum, and all the best with your investing.
Cheers,
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi All
Just new this to post and are finding the posts really interesting. I am very "green" at investing and think its time that I started.
My question is, I am currently in NSW, earning an average income of $100k and have approx $55k in the bank with no debts or unfortunately other assets. Should I be looking at buying an apartment here in Sydney (which I would prefer not to as I think they are over priced) or with the small amount of money I have is it possible to venture into the investment property market
I haven't seen a financial advisor and properly should – if any one can recommend someone in Sydney CBD I would be hugely grateful.
Miss M
Firstly welcome to the forum and I hope you enjoy your time here.
Before spending money on a Financial Adviser (Yes I am one and we do charge by the hour for a Financial Plan or advice) you would be better of to consult a mortgage broker (Yes I am also one of these and I charge nothing for the advice given under my MB hat) to ascertain your borrowing capacity and to work out a workable loan structures etc.
Where you buy will depend on what your goals are when it comes to property investing.
Are you after cash flow and looking for positively geared property or capital growth and accept the yield will be lesser.
Is Depreciation or Building Write Off important .Do you have any dependants etc etc.
As you can see there are a few considerations and personally i think consulting a Financial Adviser is probably not the first port of call.
Richard Taylor | Australia's leading private lender
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