Hi all.
I’m quite new to investing correctly. I have been involved in property investing for a few years but having digested this forum & a few other resources (incl Steve’s) I relise I have wasted many years and $$.Time for catch-up & doing things right.
During my recent planning process I have come up against a bit of a stumbling block which I can’t seem to find the right answer for. – Looking for some experienced people for advise.I live O/S & therefore it is quite difficult to find and research properties at the rate I would like to. Simple answer would be to move back to OZ and work from there. This would reduce my income by 50% plus tax.
I am trying to figure would I be better off taking the hit and move back so that I can power on in searching for properties, or should I make the most of the higher income (tax free) for a couple more years and settle for 2-4 properties / yr.
I am still reliant on my salary income for investment.
Anyone been in a similar situation?
Can’t help but think 3 yrs at home investing with a lower income may get me further ahead than 3 yrs with limited investing on a higher income.Sorry for the lengthy note – just wondering if someone has been through a similar decision.
Thanks & keep the good info coming.
Hi Essykay,
A few thoughts:
Why not pay somone to do the leg work for you to find properties; or maybe a money partner/ investor with someone who is active over here.
That way you can leverage you o/s income until it is worthwhile comming back home.
Cheers and happy investing,
Nathan.[
]Thanks for the input Nathan,
Any clues on where I could get some information on interested partners &/or companies/individuals that do the leg work? I think this in itself would be a reasonable business as I know several people in similar situation.
I have written to umpteen RE agents to attempt to find one that can help but not much luck. They tend to forward the 2nd best properties to me as I guess they have no trouble selling the best IP’s locally for less hassle.
Thanks again
EssykayHi Essykay,
My advice is to continue with your overseas employment for the next 2-3 years and perhaps employ someone to look on your behalf – like Nathan suggests.As you’d know, the market on Australia’s east coast has pretty much peaked though is starting to flatten out a bit. Auction clearance rates are still pretty stable but have come down a bit from their highs of 80%+ which we were seeing 6-18 months ago. There also doesn’t seem to be as many bidders present at auctions, and the feeling of urgency has moderated. Brisbane property however still seems to be doing well with strong increases in median prices reported. People looking for cashflow +ive property seems to be popular now and there’s also a lot of seminars being touted these days.
I would continue to work o’seas and save those dollars, as well as gain valuable experience in your field of employment. Maybe think about dollar cost averaging your money sent home as it’s predicted the AUD$ may strengthen in the months ahead.
If you would like some specific advice about interested partners wanting to invest and that also do the leg work for you, please contact me at [email protected] and i’ll be able to advise you on something very suitable for your needs.
I’d prefer not to disclose this information on a public forum.All the best with it.
Cheers,
QuentinHi Essykay,
What sort of property investment strategy are you interested in, and which part of Australia? If you can drop me an email at [email protected], I may be able to throw you a few names.
Cheers and happy investing,
Nathan.[
]Hi, esskay.
What you need is a buyer’s agent – make sure you get someone who is TOTALLY independent – there are many who are aligned to real estate agents, and will sell the properties for the agent – not what I’d call independent! There are others who are aligned to the developer, same thing! If you wish to contact me directly, my email is
[email protected]
[]
I live O/S & therefore it is quite difficult to find and research properties at the rate I would like to.How about looking for appropriate places to wrap in your country of residence? There’s nothing magic about Australia and wraps (in fact if you look at the laws, there’s quite a bit of “unmagical” stuff! [xx(] ) What country are you in?
Quasimodo
__________________________________________________
It seems to me that action has a most magic way of answering
all the questions our fearful mind tries to throw before us…
__________________________________________________
Hi Essykay,
We are currently going through the same tough decisions!
I don’t know if you have a chance to attend Steve McKnight’s seminar in Melbourne over the weekend. It was fantastic to see people from all walks of life just going for it and making it work.
I’m thinking, that the net below our trapeze can sometimes be our undoing!!!!!
Would love to know what you decided.
Please email me at
[email protected]regards
4wallsEssykay
My husband and I are in the same position. We have decided that it would be better for us to stay offshore and have looked into Buyers Agents and RE agents. We have made contact with a couple RE Agents who were very helpful last time we were in OZ and Buyers Agents also. I have also been networking with other people in we know who invest to see if we can solicit their support perhaps by completing an inspection for us.
I understand that it is not easy but we think we can make it work with good contacts back in oz
Tamara
I was going to say the same thing. I use a real estate agetnt to do all of my wraps from beginning to end. Everything could be posted to you overseas or you could give someone Power of Attorney so they can sign things for you. (Trusted Family member maybe – or i could do it for you
)Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
]
The topic ‘Bit of a quandry’ is closed to new replies.
