On another note, we are getting a $60,000 payout from the sale of a house that’s going to knock nearly…[Read more]

should be a good series, especially with all of the single people looking to get up to mischief[inlove]
I saw the first show last night… that hotdogs guy looks like a bit of a weiner!

Yes i did use the FHOG to help with the deposit and buying costs. My parents offered me $3,500 as a gift… of which i have only used $1000 for necessities such as a $500 factory second washing machine and other bits and pieces. I had already saved around $6,000. (I also used LMI, which was covered by the FHOG) I bought where I…[Read more]

I’m 19 and bought myslef a PPOR about a month ago. I’m planning to do some reno’s myself eg. front garden, paint inside and out and maybe the kitchen. Hopefully i can add substantial value without spending too much and then i’ll use the equity to borrow for my first IP. The plan is for one before i’m 21. Then i’ll be on my way to financial…[Read more]

I’m 19 and in the process of buying my first PPOR. I also have a car loan. I have calculated for myself how much i believe i can afford to pay off of a home loan while saving a deposit for an IP. Any house over that amount i wouldn’t even bother looking at. Living with parents is the best way to save for a deposit in…[Read more]

I would find a couple of reputable property managers in the area you are looking at, and throw some questions at them… asking questions about vacancy rates, average rental per property and the like will help you to discover if the area is worth the risk.

Cheers

Destined

Before everyone rips into you, look under the search function for Derivex… Big Rob/The Mortgage Adviser goes into great detail on interest free loans. Have a look, it will answer all of your questions.

Cheers,

Destined

May i suggest you buy Steve’s new book ($1,000,000 in property in one year). It is more up-to-date than 0-130 and gives you more of an insight into how to ‘find’ these +CF properties. You’ll need to work more on finding a solution to a problem, thus CREATING positive cashflow than having a +CF property handed to you.[smiling]

It’s great to hear from people who are going well in their property investing. Yours is a more inspiring story than others, as myself and my girlfriend are on about the same wages as you were when you first started out.
I am looking to be a buy and hold 4eva type of investor too… It may not be the way others…[Read more]

It is good to see another ‘south aussie’ on the forum! You sound as if you’re in the same sort of situation as myself. If you don’t mind me asking, what suburb are you in? I’m in a country town of approx. 6,000. What sort of areas are you looking to invest in (without giving too much away of course)? What has been your biggest…[Read more]

It is good to hear from someone on this topic. I thought there would be heaps of people jumping at the chance to share their stories. Obviously there aren’t as many successful investors reading the posts this week [blush2] he he

I believe your story IS exceptional considering you have been able to retire early (and comfortably)…[Read more]

At what age did you start investing in property?
I’m 19 now, and hoping to start my investing in the next few months

What difficulties did you have in doing this?
Finance is my main problem as i am on a commission basis, I have been told i need to be at my…[Read more]

I am currently living with my parents rent free as you have suggested i should do. My girlfriend would be living with me when we eventually decide to move in… we don’t want to take a loan out in both of our names if we can help it.

My personal loan is rather large, as it was for my car. Is there any way of rolling them into one? I…[Read more]

Terryw, you said: “Spouses can generally be added to the loan even though they are not on title. In such cases, their incomes and liabilites will be taken into account.

Generally this cannot be done with third parties, including parents.”

Why is this the case? Why is it that it can’t be done with my dad? I will…[Read more]

How does a 19 year old go about financing a home loan? are we on the same ‘playing field’ as an older person looking to buy their first home with consumer debt or do we get judged on our age? Ability to pay the loan and credit rating should be number 1 and not age, am i right?

I work in car sales, so I bought my car at under retail price 4 months ago, at less than what people are paying for the same vehicle with more k’s. Apart from that, I travel over 600kms a week for work purposes so i need something that is reliable and will hold it’s resale value fairly well… hence buying it el cheapo. I have…[Read more]

While im still 19, i would look to buy a house where i can live… possibly in the area where i’m looking to invest later. The rental properties would follow on from that once i have settled. I would ideally like to have two or three positively geared properties not including my home, by the time i’m 22. I believe this is…[Read more]