What were your struggles when you first started out? How did you overcome them?

Viewing 6 posts - 1 through 6 (of 6 total)

Patrick Ow
Participant
@patrickow
Join Date: 2015
Post Count: 9
May 9, 2016 - 2:00 pm
I am starting out in real estate investing and wondered what people struggled with when they first started out? And how did they get over these struggles? Did they read, seek advice from family friends, paid a mentor, etc.?
Is there a product or service out there that can get me started the right way without being fleeced (e.g., anyone unbiased who can set me on the right path)?
Thanks in advance
Patrick Ow
http://howtobuyrealestate.com.au
Email Me
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 11, 2016 - 8:27 am
Biggest struggle for those starting out is funding that first deposit. After that – it becomes easier (assuming you buy well and the property appreciates in value).
Second to that – is over analysing which prevents some people from making decisions.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
May 11, 2016 - 9:02 pm
Definitely agree with Jamie – with all the investors we see each week, the number one issue for first time investors is having a sufficient deposit.
After gaining a few properties, this quickly changes to having sufficient borrowing capacity to continue growing their portfolio.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
May 11, 2016 - 9:22 pm
Agree and that is why we intend to roll out No Deposit Housing to investors within the next 90 days.
Certainly exciting times ahead.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Patrick Ow
Participant
@patrickow
Join Date: 2015
Post Count: 9
May 12, 2016 - 5:58 am
Richard, looing forward to know how the NO Deposit Housing works.
Even before they look at deposits, do these clients have a property investment strategy or plan in terms of what they are looking for?
Patrick Ow
http://howtobuyrealestate.com.au
Email Me
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
May 12, 2016 - 9:26 am
Hi Patrick
It is a Company we launched earlier in the year where we provide 100% finance with a blended (85% thru a major lender and 15% provides by us from our private funds) loan to First Home Buyers.
Since inception the scheme has taken off and we have been inundated with applications here in Qld.
We are looking at expanding into other States later in the year and incorporating a investor product.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender