All Topics / Help Needed! / Where do I start

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of briduffbriduff
    Participant
    @briduff
    Join Date: 2010
    Post Count: 2
    January 17, 2010 - 3:15 pm

    Hi
    We are a young couple with a young family, however we both work and have a lot of equity in our own home. We had a meeting with Destiny financial solutions last week, and the Pos Cash flow idea all sounds great, as does owning 10 properties etc etc, although we think $6000 is a bit expensive to pay them to do not much.
    Can we do it alone and what is the best way to teach ourselves about the "tricks of the trade" and which regions to find positive cash flow properties.
    Thanks
    Briduff

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 18, 2010 - 1:49 am

    Hi Briduff

    Firstly welcome to the forum and I hope you enjoy your time with us.

    Yes i agree $6K is a ridiculous amount to pay for something that a decent mortgage broker will do for nothing.

    There are many strategies of Destiny i totally disagree with esepcially when it comes to Cross collateralising your loans and many a decent Buyers Agent will locate the property for you given your property specificiations. 

    Like anything research and reading is the key. Many publications such as API will analyse areas and suburbs for you and a lot of information is free.

    Richard Taylor | Australia's leading private lender

    Profile photo of danielleedaniellee
    Member
    @daniellee
    Join Date: 2006
    Post Count: 197
    January 18, 2010 - 2:19 am

    Hi Briduff,

    It's difficult to do things alone. The best way is to visit your local public library and check out the investment section for all the Property investing books available. I found out the best way to learn was to read up on the various techniques, discuss about them on the forums, and then apply them in action. Although this is a slower way and had taken me at least a few months to grasp the basics…

    Having someone else take the reins from you means you will not learn as much, and the only person most interested in your finances is yourself.

    Cheers

    Daniel Lee

    Profile photo of briduffbriduff
    Participant
    @briduff
    Join Date: 2010
    Post Count: 2
    January 19, 2010 - 7:17 pm

    Thanks guys. I will keep reading the forum, it is a good learning tool in itself and get some publications.
    Cheers
    Briduff

    Profile photo of johnchristine375johnchristine375
    Member
    @johnchristine375
    Join Date: 2010
    Post Count: 3
    January 20, 2010 - 8:37 am

    Hi,
    I want to buy a flat! should i need it to inspect from home inspector? I heard a lot about the site http://equityinspection.com/! can  you tell me about this site?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 20, 2010 - 10:07 am

    Johnchristine are you aware that this is an australian site?

    3 posts with 3 ads for your business

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of ClaireeClairee
    Participant
    @clairee
    Join Date: 2009
    Post Count: 38
    February 8, 2010 - 9:30 am

    Hi Briduff

    Just read your post re Destiny and interested to know if you went ahead with any of the destiny packages? We also recently met with Destiny (January). I have been absorbing information from this site for a couple of months, and found it very helpful.

    I too am concerned about cross collateralising, and also have heard/read negatives about St George, which they tend to use for the financing.

    Ta

    SnoopyII.

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