Hi, mentee

Definitely CF-. Your outflow will be more than $500 pm factoring all other fees.

Perhaps you can look at ways to adjust the loan, such as a bigger initial cash deposit or longer loan period. Getting a CF- property is not most people in this forum would recommend. You might save some money in tax, but a loss is still a loss.

To answer…[Read more]

Hi, rgranger

Your situation looks pretty good. With A$300k in equity, you are looking at 3 CF+ investment properties or more (With smart investing).

In 5 – 7 years time, you could be all set for retirement.

I agree with many of the other respondents. You are not in ‘a pretty bad way’.

Just learn more about various forms in investing from…[Read more]

Hi, Ivan

Definitely start reading investment books and magazines. The first step to investment starts with changing the way you look at money, assets and liabilities.

With your current income, you should not have a problem with saving $20k of your after -tax income (With a downscale in your lifestyle).

Since you are only 21 years old, you can…[Read more]

Hi, Chris

I agree with many of the entries that ‘converting’ your GF to the idea of property investing takes time. Like youself, I just got into property investing last month, and like others, have been into managed funds for years.

My experience is that when it comes to partners who are not as into investments in general as yourself, it just…[Read more]

Hi

I would like to join the Melbourne club. Please let me know how to proceed.

Thank you.
Daniel Lee [specs]

Hi, everyone

My first posting. Just started reading up on Steve’s first book on property investment a few days back.

Spend some time reading this post, and found it really insightful. Was wondering about Big Ben’s figures on the $500k property. Did a very rough calculation.

90% LVR 450000
monthly payment @ 7% -$3,180.51
25 yrs

Cash…[Read more]