Hey Guys,
I currently have my own place and have quite alot of shares. My aim has been to sell my shares when they reach enough for a deposit / buy a apartment. Due to the fact I live in Perth this clearly is not the right place for investing due to the fact Perth has risen so much over the last few years.I am just wondering what the best way for me to do this is. I have maybe 100-150k spare that could be used towards a apartment or should I just leave the money in shares. mainly blue chip shares such as BHP, WPL, CSL to name a few
thanks guys appreciate it
Hi Bacon,
Have you looked into writing covered calls on the shares to give yourself extra income? It doesn't take much time each month and might give you extra cash to increase the amount you can put into a property investment. That way you can keep the shares and get them working harder for you!
where can you learn to write covered calls? Im pretty interested in this too. I read one of kiyosaki's books where
he mentions writing puts and letting them expire. If the put is exercised, he basically gets to buy the
underlying stock at a price he is happy with. If not, he gets the value of selling the putcan you do this with commsec?
Hi Hartraft,
Yes, that's a great way to buy shares at a discount. I'm sorry I don;t know whether Commsec allows you to do that or not. I think they are more for simple share purhcase and sale transactions … but I could be wrong.
You ask about learning how to do it, well, i have to express an interest here as I sell a program that teaches people a number of different investing things that includes both these strategies. So, I guess I am slightly biased in terms of how to learn about it. But recognising that this forum is not for advertising …
I would suggest that you DO look out for a way of learning how to do this. There are right and wrong ways. One of the keys to successful investing is to manage your risk and that is more important in the share market where prices move quicker than property prices do.
My suggestion to get started is to start paper trading with a few of the bigger companies on the ASX. You will be able to get the price information from Commsec (or from the ASX website). If you start doing that WITHOUT any real money you will start to learn how it works. But I have to say that I strongly suggest you look out for a good training course to help you get started that will minimise your mistakes when you start real trading. So, check a few out. Feel free to drop me a private message if you want more help.
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