I wanted to say a number of things I hope are of value.
Firstly, A commendation on 0-130. I enjoyed every page.
Secondly, a comment for the critics and pesamists. Popoulation is growing, land is not. If you don’t work out the best scheme for yourself now, you may fall behind the eightball towards financial freedom. I’m in the situation now of working myself out and I have a lot of issues to get around but I’m going to do it.
Finally. Yesterday, I looked briefly in the local paper in the FOr Sale section and almost immediately saw at least 6 properties & 70,000 or less with mid to long term tennants. I have to get in work out the 11 second theory on them but I will certainly initiate my first moves in the very near future.
Any feedback on if I should consult finance people first, get my house valued for equity, see a broker or what ?Welcome to the forums and great to have you on board.
Now that you have an understanding and familiarised yourself with positive cashflow investing I think the best step would be to create your structure or your plan for financial freedom. Something which would reflect what you want to achieve and incorporating all aspects of yourself and your lifestlye. That way when you decide to take the plunge at least you will have set goals to follow and a plan thoroughly thought over which in turn along with doing your homework and due dillegence in all areas will minimise the potential risk in your future endeavours.
I’m sure your well aware that the 11 second theory is only a guide and that you should conduct your due dillegence not just on the property but on the area as well to make sure your investment has the potential to grow and yield those positive returns.
Would probably be best to talk to a broker first, the majority out there work for free (commissioned by the lenders) and it is quite a competitive market so you should not have a problem finding a good personal broker to attend to your particular needs with regards to raising the required finance for your investment structure.
Hope this helps.
Hi Younggun,
thanks for your reply to my post and the info here:
Now that you have an understanding and familiarised yourself with positive cashflow investing I think the best step would be to create your structure or your plan for financial freedom. Something which would reflect what you want to achieve and incorporating all aspects of yourself and your lifestlye. That way when you decide to take the plunge at least you will have set goals to follow and a plan thoroughly thought over which in turn along with doing your homework and due dillegence in all areas will minimise the potential risk in your future endeavours.
Is there a book that teaches you how to put together a wealth creation plan or strategy, or is this something that everyone wings on their own.
If so, can anybody else give some topics or suggestions for issues to be included in a wealth creation plan. Is there a format that financial advisors use??
Where do us newbys start?
If all of the regulars could make a suggestion or two, we could have a great resource for all up and coming investors like me………..
Cheers, Hippychick
“Freedoms just another word for – nothing left to lose”
Hi HippyChick and Welcome to the forums!
With regards to your enquiry about creating a wealth plan / structure, I beleive I did make a suggestion in one of the other posts but shall post it again for you [
] I firmly beleive that there is only so much you can incorporate with regards to setting up a wealth creation plan / strategy. The rest is up to you and only you, because every individual in unique in their hopes/dreams/ambitions/lifestyle. Sure there are a lot of resources out there that outline plans and strategies but these should only be used as a guide and applied to your own personal situation.However there is one particular resource that I have grown fond of and has given me a greater understanding as a whole and that would have to be Steve’s Wealth Guardian. Sure you can sit and create wealth plan’s / strategies but then again what good is wealth if you can’t keep it? As is said and is so true in Wealth Guardian “When you own something you risk losing it, obviously because you own it you can lose it, thereby a more effective method would be where you didn’t own it but could control it, which is discussed in more detail in the Wealth Guardian book & CD, A Must!! The wealth of information in Wealth Guardian should be a definate contribution to your wealth plan / strategy / structure.
Hope this gives you some ideas to start your brain storming and wish you all the success in the future [
]G’day
Am new at this and living in Sydney – not too many properties at these prices here. Coud you identifyy the area you are looking at, in broad terms and the state?
Not wishing to move in your territory but rather to get an understanding of where these type of properites might be found.
Tks, George
I wanted to say a number of things I hope are of value.
Firstly, A commendation on 0-130. I enjoyed every page.
Secondly, a comment for the critics and pesamists. Popoulation is growing, land is not. If you don’t work out the best scheme for yourself now, you may fall behind the eightball towards financial freedom. I’m in the situation now of working myself out and I have a lot of issues to get around but I’m going to do it.
Finally. Yesterday, I looked briefly in the local paper in the FOr Sale section and almost immediately saw at least 6 properties & 70,000 or less with mid to long term tennants. I have to get in work out the 11 second theory on them but I will certainly initiate my first moves in the very near future.
Any feedback on if I should consult finance people first, get my house valued for equity, see a broker or what ?
[/quote]For those prices you would be looking more regional/rural areas a few hours out depending on the State. In tasmania you could maybe still pickup a bargain close to town but that all depends on your motivation and determination to research and persist in finding these bargain properties.
These properties are to be had in every state, if you watched ACA last night you would of seen nearly every state covered with the median house selling for around $50-60k in the areas covered which were regional/rural areas.
Just bear in mind as I’ve stated above to do your homework/research/due dillegence before taking the plunge and try to avoid the hype of buying now asking questions later. The boat will always be there, you’d rather wait and get on when it’s safe then rush and go through a storm only to sink.
G’dayAm new at this and living in Sydney – not too many properties at these prices here. Coud you identifyy the area you are looking at, in broad terms and the state?
Not wishing to move in your territory but rather to get an understanding of where these type of properites might be found.
Tks, George
I wanted to say a number of things I hope are of value.
Firstly, A commendation on 0-130. I enjoyed every page.
Secondly, a comment for the critics and pesamists. Popoulation is growing, land is not. If you don’t work out the best scheme for yourself now, you may fall behind the eightball towards financial freedom. I’m in the situation now of working myself out and I have a lot of issues to get around but I’m going to do it.
Finally. Yesterday, I looked briefly in the local paper in the FOr Sale section and almost immediately saw at least 6 properties & 70,000 or less with mid to long term tennants. I have to get in work out the 11 second theory on them but I will certainly initiate my first moves in the very near future.
Any feedback on if I should consult finance people first, get my house valued for equity, see a broker or what ?
[/quote]
] I firmly beleive that there is only so much you can incorporate with regards to setting up a wealth creation plan / strategy. The rest is up to you and only you, because every individual in unique in their hopes/dreams/ambitions/lifestyle. Sure there are a lot of resources out there that outline plans and strategies but these should only be used as a guide and applied to your own personal situation.
]
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