Forum Replies Created
Hi there,
Regarding ‘analysis paralysis’ every investor suffers from this in varying forms at one time or another, so you’re definately not alone!
If I was you I’d do a few things to help in your investing jouney, including;
– keep reading the forum, knowledge can often translate into confidence
– check out some Real Estate investing books
– speak to a broker who might be able to give you a heads up on what’s possible in your current situation.Your ‘action freeze’ is actually better than diving into property blind and potentially making an expensive mistake.
Hope this helps…G7
Hi Clarebear,
I typed in ‘free title searches’ into google and it spat out these results;
There might be something in there that could help you out. Happy hunting…G7
You know what they say…Great minds think alike! [biggrin]
Hey Hellman,
Your post must have come up when I was typing mine…You dont have ESP do you???
Hey PT,
Regarding the bank manager, that’s so 1995, no hip, cool property investor would admit to knowing the bank manager, it’s all brokers these days and there are plenty of good ones right here on the forum.
RE agents are a necessary evil to investing, and I believe that unless you’re zeroing in on a certain area and type of property you dont really have to be ‘tight’ with them either. Just take each one on a case by case basis and remember that an agent is not your friend, just a necessary ‘thing’ in regards to the property you’re after. Sorry agents!
With an accountant, financial adviser etc. you need one that knows what they’re talking about and whom you can trust. If you speak to a few you can always verify what they’re telling you with very experienced investors on this forum, they can help you and point you in the right direction in regards to your ‘team’. They might also recommend one in your area.
In regards to being young and a time waster, well I’m regarded as one too sometimes, so you’re not alone, solidarity in numbers my friend. Besides everybody’s gotta start somewhere.
Hope this helps…G7
According to your profile you’re in Qld so I’m assuming the property you’re talking about is in Australia. I thought you might have been in the US.
This is completely foreign to me so if you carry on with this property please keep us informed as to how it pans out.
With a combined income of $175k per year, no you shouldn’t pay off your mortgage first, you should pay mine off then pay yours off.[biggrin]
I would really use that income to set myself up nicely through investing and put my home mortgage on the backburner. But of course it’s up to you. You could always invest quite conservatively while paying off your mortgage, say in the next few years, then with a fully paid off house and the security this would probably bring you, then it could be full throttle investing to create a really nice future for yourselves.
You should speak with one of the many capable brokers on this forum who could really help you to maximise your situation and to get the most out of your many options.
Good Luck…G7
Right. [biggrin]
From memory there is a magazine dedicated to Franchising available at newsagents. I dont know much about it but it might be able to point you in the right direction.
Also from what I know of personally, silent partners are fairly common in the franchising industry. Good Luck with your endeavours…G7
Hey Jenny,
Try these guys out;
They are insurance brokers who seem to do a pretty good job.
Hey Dazz,
In keeping with the ‘Millionaire Next Door’ theme of ‘stacks of money, s___tty car’ I’ve got a 95 EF Falcon (330 000km’s on the clock) I payed $10 000 for in 2001 that since then has had about $20 000 worth of smash repairs done to it.
Now here’s the problem, I’ve got the car but not the money… Have I missed something???
Peter Comden used to be a moderator on this forum. I think Steve holds him in high regard so he might be somebody that would provide good value in a development course.
I’d also be interested in doing something similar so keep us posted on what you find out.
If you think you’ve got nothing to lose and everything to gain and this company might be a little bit desperate, then absolutely go for the best deal you can get.
If investing with this company will help your financial prospects then do it, but be wary of trading yourself out of a sticky financial situation. Keep us posted on how it turns out, all the best.
Good Luck…G7
Hey Matt,
Units like these can be quite hard to finance. If they are under 50sqm or 5 squares usually the purchaser has to chip in about 30% of the price.
Units like this, especially on the Gold Coast, can easily attract strata fees etc. that can really eat at rental returns as well. I think that you might be coming up against too many obstacles in an investment like this.
Sounds like Asset Storage are having trouble selling their wares. It sounds like a good time to negotiate, either price or guaranteed return, you might pick up some gem investments.
Good Luck…G7
After the second or third letter demanding $0.00 my first call would have been to Naomi Robson and the team down at Today Tonight.
Grab my 15 minutes of fame while also having a good laugh!!![biggrin]
If you need info on wrapping in Qld there is a person on this forum, Qlds007, who basically invented wrapping in Qld. He is your first port of call.
Hey willi,
Have you considered selling it at an 8% yield?
A lot of investors would be very happy to buy a property like that in todays market. How about a 7% yield?You could sell through one of those discount agents that charge flat fees if the property is that good and if these types of agents are available in the area.
Good Luck…G7
Yes this condition is called ‘analysis paralysis’ and every investor suffers from it from time to time. However, it’s good that this has happened because at least when you do eventually dive in you’ll have a good idea of what you’re doing by then, instead of none at all.
Dont listen to RE agents either, they’re a necessary evil to RE investing. Stick around on the forums for a while and you’ll soon learn the best way forward for yourselves and which investment direction to take.
Good Luck…G7
Yes credit cards can seriously affect somebody’s borrowing capacity.
On another note, if you are thinking about going for finance the very knowledgable people on this forum know every trick in the book to get your application over the line and there are many capable brokers aswell.
