hi all, i’m a propertyinvesting.com virgin
i read steve’s book 0 – 130 and have just ordered 1 000 000 and fast track 2.
i can’t get a loan straight out as i’m a single parent working one night a week.
i own my own home in goulburn (between sydney and canberra) and have about $140 000 equity in it.
by refinancing my house i can borrow about $250 000.
real estate in nsw falls way short of the 11 second rule i have searched everywhere on the net. the only good deals i’ve come across are in tasmania or south australia. i’m nervous about buying so far away from my home town, does anyone have any suggestions about how to get a good deal locally or how i can buy interstate without running into problemseasymoney[biggrin]
I am also a newbie, but it all depends on your long term strategy and financial position. An idea maybe trying to find a property for wrapping or lease option in your local area?
Cheers
johnWant to join financial independence before 31 years old, currently 25
Hi Easymoney
Do a bit more reading (borrow from the library) Margaret Lomas books are a great read, she doesn’t even go and look at the properties does it all from over the net after she has done all the research, she makes a low offer and gets a building inspection done.
I think the more questions you ask agents (just don’t go on what the selling agent says) ask other agents in town re what property is worth what rents etc etc. The more questions you ask the more informed you will be when it comes time to buy.
Look around your own town (as you know it better than anyone else) keep your eyes and ears opened for people selling etc. Remember 11 second rule is only a guide! [biggrin]
Happy hunting
Jenny1
thanks guys
even wrapping here wont work as houses worth $180 000 make $140 in rent
sounds like i may also read up on margaret lomas and look interstate some moreeasymoney [biggrin]
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