Is it really that hard to fiind a property to invest in?

Viewing 4 posts - 1 through 4 (of 4 total)

seddar
Member
@seddar
Join Date: 2009
Post Count: 7
March 24, 2009 - 11:38 am
My sister bought a house probably a year ago which she is still paying off and is getting around $300 a week in rent. She bought this house to move into once she gets married with her boyfriend.
What im thinking is, she doesnt know anything about investing and she bought the property mainly as a house to live in, but if she was to use the house as an investment instead, she could be getting $300 a week in rent once the house is paid off and if she still has people renting it out ? or is there more to investing ?
WJ Hooker
Participant
@wj-hooker
Join Date: 2007
Post Count: 272
March 24, 2009 - 8:30 pm
seddar,
There is not much detail in your question. Does your sister own any other property? Is this her first property ? What did she pay for it ? How much did she borrow ? Does she have a job and what is her income ? Did she get the FHOG or stamp duty concession ? etc etc etc……..
But, Yes, the idea is to buy property, use taxation etc, to help pay it off, hope it goes up in value, and get rent. Suggest you do lots of reading before you jump into investing in property. This forum is a good start.
seddar
Member
@seddar
Join Date: 2009
Post Count: 7
March 25, 2009 - 3:03 am
this is her first property, yeh im sure she got the FHOG. i think she payed 350-400 000. yes she has a very good income and is trying to pay it off as soon as she can, but my point is that she wasnt looking at this house to invest in. im saying, if she was looking at this house to invest in, she would be getting 300 a week after the house is paid off. sounds easy to me to find a property to invest in?
daniellee
Member
@daniellee
Join Date: 2006
Post Count: 197
March 25, 2009 - 3:37 am
Hi, Seddar
Yes. it does sound easy; just find a property to invest in, rent it out and get someone else to pay the rent.
Expanding on this would be:
Where to invest in (Capital city or regional area)
What type of property (apartment, units, houses or specialised areas like retiree homes)
How much to invest?
How to get maximum rent to minimise the cost of holding to you, since most properties are not positively geared
Expanding this further
Why are you investing? What is your purpose / aim / goals?
What aspects of PI do I not know?
Do you want to go into PI, or do other areas like Shares intrigue me?
As WJ Hooker mentioned, spend some time reading up in this forum and read through plenty of property books for the next 6 months. Investing is often more than just buying something; it often is a mindset and lifestyle change.
All the best. This is a good start.
Daniel