Are you any worse of today than you were 2 years ago, has the recesion lost you money, have you lost your job, is your job secure, do you have to many property's and can't afford repayments, what has this recession done to you.
will you be fine threw the recession, has your work picked up more because of the recesion.
tell us your story's on what has changed recently because of what is hapening around the world.Well my hubby unexpectedly lost his job in due in a small business due to not being able to afford him any more, this was approx 2 months ago. The up side is he started a new job within 2 weeks in a much better industry with heaps of paid overtime (every cloud does have a silver lining).
Our tenant has gotten into arrears on her rent.This is a question that has crossed my mind quite a bit in the last 12 months or so, how have I been affected when it seems to make the front page of the paper daily?
So far I have escaped fairly unscathed. Working in commercial/development finance, work has dropped off but personally this has largely been offset by falling interest rates etc. At this stage I'm confident of hanging onto my job for the next 12 months and hope things start to improve after that and come out of this relatively unaffected.
My heart goes out to those approaching retirement that have seen their superannuation decimated in the 18 months and are looking at the prospect of a more modest retirement or a few more years in the work force.
Cheers
RhysI haven't lost my job but im running several small businesses in order to get my first IP next year hopefully.
I think there are hopefully some better ops. for finding houses with problems that can be fixed in the melbourne area. Does anyone know a good way to find properties that are privately listed for sale? many thanks.Fergus
I work at the head office of a major bank in Sydney. My department is currently restructuring and for my role 9 of us have had to reapply for 7 jobs. Should hear at the end of the month if it affects me personally.
On the plus side I am waiting for property prices to drop and interest rates dropping have helped too. I wasnt even thinking of possibly owning property 3 months ago.
Thanks for sharing that, im just finishing the book $1M worth of property in 1 year with the MAP program, the more I read it the more I see its a possibility to buy property with little funds. Ill be investing in shares in the mean time to raise capital…
Fergs wrote:Thanks for sharing that, im just finishing the book $1M worth of property in 1 year with the MAP program, the more I read it the more I see its a possibility to buy property with little funds. Ill be investing in shares in the mean time to raise capital…Hi fergs, how do you buy property using little funds, how did the book describe to do this,
cheers
I'd also like to know the answer to this. Give us a tip at least
I find that interesting when banks are nowdays insisting on massive deposits for investment properties – between 30 to 40%…
So you may find a property that's cashflow positive with only a 10% deposit, but the banks wont lend you the money – even though your income from the renting of the property is more than the mortgage (and other expenses).
That's really lame – kinda as if the banks are out to stop investors becoming wealthy through cashflow + properties.
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