Hey all,
Just wanted some thoughts / comments regarding my situation.
I am currently living in the USA till May 2009. I have an Apartment in Western Australia which is currently being rented out.
I am wanting to get another property as an investment when I get back in May 2009.I think giving myself time to properly figure out what to do best is the right option and figure having some time before my next purchase should help myself make a better more informed decision.
Till then I want to research into as much as I need to know before making another purchase.
I have about 75k free cash available plus the apartment I own is fully paid off.
I was just wanting some thoughts and comments about where to go from here and what the next steps should be. I know a-lot of people have been in this situation and I just want some comments and general feedback.
Thanks
no help
come on!Hi Bacon,
You probably need to be a little more specific with your questions to get good responses.
When considering your options for investing in property, you should take into account not only your personal behaviors and interests but also the type of business model that you want to get involved in. Here are some key questions:
- How much initial capital do you have to invest?
- How much ongoing capital do you have access to?
- Are you looking for an increase in long term wealth or is immediate cash flow your priority?
- How much time are you willing to invest initially?
- How much time are you willing to invest on an ongoing basis?
- What level of complexity are you comfortable with you?
As a summary, map out where you want to be and then ensure that your property strategy has a business model that fits into this.
Once your straegy is clearer, then I would be looking to build a trusted expert team around you (especially as you are overseas) to help you move forward.
Cheers
Mark
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