Forum Replies Created
Hi Benny,
Can you think of things that could/should be added? After that, it is a matter of FINDING (or creating) good answers for the thread. What of your early questions need an answer right now?
I have been thinking of investing back home in Ireland as property prices are low and rent is high. At some stage the GFC has to turn around and drive the housing market back up. It would be a Positively geared IP while I wait for the economy to turn around.
Even though I would have a 20% deposit in savings and a gross income of $125,000 last financial year the Irish banks are not really interested in giving me a mortgage because I am living in Australia so maybe I should start looking at the Australian housing market. Im a carpenter by trade and a renovation would be no prob at all but I’m not sure what would be the best way to start my Investment portfolio. Do Positive geared IP exist in Australia right from the purchase date or is it by buying a house that needs work so it can then become a positively geared IP?Also I would like to get a financial plan in place so I can stay focused on my goals. Should I try do this myself or ask a proven investor or company to help?
What would be your opinion on a good IP to start out with?Do you have many IP?
Thanks for your help,
Ross
Ross Brown
Email Me"You don't have to be great to start, but you have to start to be great"
Hi Ross,
Welcome – you’ve come to a good place (well places really – Australia, and PI.com !!)In reference to your question “What are the advantages of renting and buying IP’s?” take a look at this link :-
https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/
The third post points to a very well-written post re that very thing. Since you are new to investing, you may also get some value from the other links within that thread. I hope it helps to turn on a light for you.
Benny
Hi Benny, Thank you for your reply. I had a look at the tread and there was a lot of useful comments there. It seems to be a smarter move to buy an IP first from what I research I have done. Do you know of any other useful treads that might be of interest to me as I’m only starting my investment journey.
Thanks again,
Ross
Ross Brown
Email Me"You don't have to be great to start, but you have to start to be great"
Hi Andrew,
Thanks for your reply. My apologies, I should of wrote ‘Successful Ivestors’.
What are the advantages of renting while buying investment properties?
Im sure if I buy my first property in my own name I could set up a trust after, when I decide to buy an other?
Properties prices in Ireland have crashed over the last few years so I pretty certain that they cannot drop much more. I think it would be a safe bet to say property prices will continue to rise but I could not be certain as Im only speculating.Ross Brown
Email Me"You don't have to be great to start, but you have to start to be great"
