I’ve read ‘Rich Dad Poor Dad’ and am currently reading ‘0 to 130 properties in 3.5 Years’, I am extremely keen to invest but am unsure whether I’ll be able to attract finance since I am so young and unsure of the right loan to pursue, also what company structure to pursue (i read trusts in another post, is this right). I know exactly where I’m wishing to invest but am finding it daunting on my own because i’m always asking myself for feedback and a fresh perspective, what to do…
sang-froid
Hi spi, welcome to the forum.
Are you actually asking a question, or just introducing yourself?
Anyway, all the best.
Cheers
EDIY Residential Property Settlements in WA – the book coming soon! When I can get my act together…
spi, well done on learning what you can! You should keep reading good books like RDPD and Steve’s, and the forum to keep learning. You will also learn by taking action (even though this will mean stepping outside your comfort zone).
You may feel that you are not ready, but you can always check what you are doing on the forum, step by step. just ask!
So start by talking to a real estate agent. Look at a property. Work out the numbers, ask more questions. You dont need finance or a trust to start looking [
] and it costs nothing.When you find a deal and want to go ahead with it, you will learn the finance side as its needed. It will be easier to learn as you will know what questions to ask at that stage.
Originally posted by TasInvestor:spi, well done on learning what you can! You should keep reading good books like RDPD and Steve’s, and the forum to keep learning. You will also learn by taking action (even though this will mean stepping outside your comfort zone).
You may feel that you are not ready, but you can always check what you are doing on the forum, step by step. just ask!
So start by talking to a real estate agent. Look at a property. Work out the numbers, ask more questions. You dont need finance or a trust to start looking [
] and it costs nothing.When you find a deal and want to go ahead with it, you will learn the finance side as its needed. It will be easier to learn as you will know what questions to ask at that stage.
cheers aye
if only i didn’t have so much going through my head
i want to start a company
invest in that name
but know i need a good accountant
as they know where to cross the t’s and dot the i’s
i have found many positive cashflow properties
just to get the ball rolling aye
cheers again
i’ll definetally have to get out of this uncomfortable comfort zonesang-froid
Hi Spi,
I too have just finished reading Steve’s book and have begun by checking out potential areas to buy property in. Today I went to my local bank where I have a home loan on my own home and they have more or less said “no way jose”. I’m quite annoyed as it makes me feel that they just don’t want the “average joe/joan” to get ahead. I’m a single female who earns under $40K pa and it’s way hard but this just makes me all the more determined. [blink]
Kristie,
Don’t let them bring you down, because ultimately, they are very much aligned to selling their products and if you don’t meet their requirements, then you get the response you heard.Go to a mortgage broker, they will be in a better position to find out alternatives for your scenario and future investment goals
Good luck
James
Originally posted by Kristie:Hi Spi,
I too have just finished reading Steve’s book and have begun by checking out potential areas to buy property in. Today I went to my local bank where I have a home loan on my own home and they have more or less said “no way jose”. I’m quite annoyed as it makes me feel that they just don’t want the “average joe/joan” to get ahead. I’m a single female who earns under $40K pa and it’s way hard but this just makes me all the more determined. [blink]
Kristie, don`t let a “no” stop you.I recently experienced a similar thing when my new accountant advised me to refinance with a particular loan setup.My bank that I had been with all my life said it couldn`t be done.My accountant didn`t seem to think it would be a problem, so I tucked my folder under my arm with the intention of visiting every bank in town.I didn`t get past the first one as they said “ok”.
It seems different banks look for different kinds of customers. My old bank saw me as a employee with a couple of rentals.The new guy I think could see that I intended to get bigger,new my stuff and was educating myself.
The easy way would be to see a broker, but if you are just starting out, this{visiting several banks yourself} is a good exercise to help learn the numbers, and get a feel for where you are now.Then you can better see what is the next step.Regards Terry
Hi Spi,
I started – infact – am starting quite the same way you are. There are many ways to get finance – good on you for finding positiv cashflow properties. you can get a money partner – but if you wish to do this by yourself – email me if your in VIC – I know a good finance lender that most likely could help.
Kind Regards,
George.If You never never ask, you’ll never never know”
Hi Spi,
email me if you need a good financier – she got me finance at 5.99% and im only a casual worker.
Kind Regards,
George.If You never never ask, you’ll never never know”
] and it costs nothing.
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