Forum Replies Created
Hi
I need a bit more info to help. Do you mean you are looking for a cash +ve property? Are you looking to purchase in Bunbury? I live in Perth & have recently been researching the south-west for prospects, so i may be able to help, if I know what you are looking for and where.
cheers
Kym[
]Hi Kristine,
As per picja1 – need some more info.
Never , ever loose hope! Always remember,if at first you don’t succeed, try again – always.
On face value, it seems to me Aussie may not be taking into account any Potential income you would be earning from your investment property. I talked to a lender once that would not take rental income into account when assessing the loan?? Go figure! – I just can’t remember who it was.
Most lenders have calculators on their web sites that will help you determine your borrowing capacity, the one I use from time to time is on the Rams web site. You can use it to explore “what if” type scenarios. For example, ‘what if’ you reduced your credit card down to a $1000 limit – what would your borrowing capacity be then?
Another option you could explore – ‘what if’ you were to refinance your borrowings for your PPOR? Perhaps over an extended number of years, to lower your monthly commitments or maybe you could explore the option of I/O for your PPOR. Some lenders don’t allow this, but you could shop around or employ the services of a mortgage broker to assist. (If you are in Perth I could recommend one).
Which brings me to another point, where are you looking at purchasing & how much finance do you actually require?
Hope this helps.
Cheers
Kym[]Hi Peter,
Again, I agree entirely, you need carefully laid out plans of action that help you reach your goals. This in turn leads you to your vision. I found it easier to start with the vision and work backwards when defining my goals & then the plans seemed to automatically follow.
I do also agree that goals should be reviewed every 6 months or so to ensure they are still relevant and in line with your current way of thinking. When you’re constantly learning and acquiring new information, sometimes the goal actually changes along the way.
I think everyone at some point in their lives has wandered (or has deliberately run) down a path, only to find that when they get half way there, it wasn’t the direction they actually wanted to take. Still, myself personally, I’d rather be in this position, than sitting at home in the armchair infront of the telly!!
Cheers
Kym
[]Hi Peter,
Yes, I think you are right. I tend to think that a balance of intellect or fact mixed with a healthy dose of intuition or ‘gut feeling’ is the way to go. I generally find that most people (myself included – although I try really hard not too [xx(]) tend to distort the facts based upon their attitudes &/or beliefs when making decissions. ie: they let their emotions get in the way. This happens with every decission – investment or not!!
I recently attended a series of management workshops. The usual hum-dum type stuff. One particular day we were working with visions / goals and the distinction between the two. Anyway, to cut a long story short, I was openly & honestly discussing my goals & what I ‘thought’ was my vision with regard to property investment with a participant in the course. I told her that it was my ‘vision’ to aquire ‘x’ number of properties in ‘x’ number of years totalling ‘x’ number of $$ etc. She then asked me why I wanted to do that. I replied, what ever I feel like when I get there. For expample, I might want to buy a yacht and sail around Australia, or I might not. I may want to spend my days doing volunteer work, donating money to charity, or it may be someting else. I’ll decide once I get there.
She then said something to me which I found very inspiring, and I’m sure I will be thanking her for many years to come.She said:-
To aquire ‘x’ number of properties in ‘x’ number of years totalling ‘x’ number of $$ etc, that is not your vision, that is your goal that you can work on to achieve your vision.
What your real vision is can be summed up in two words – oppurtunity & freedom.Again, something complex simplified into it’s basic form. That simple discussion, allowed me to clarify even further the direction in which im heading. And the more you can clarify something, (I believe) the greater chances of sucess.
So, yes i agree, that “with wisdom it should be possible to condense your financial goals and investing technique down to one paragraph or so.”
Cheers
Kym []Hi Redwing,
You could check out this site:-
I’m not sure if there is any information on Geralton there, but you can purchase VGO past sales data on line there. I too have trouble finding good info on country areas, but I have found that on occasion, local real estate agents have some good info on their sites.
Cheers
Kym (Perth)
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