Have plently of cash, how to get started?

Hi Steve,

I suppose the first thing is to congratulate you on your savings. Well done on being so diligent.

The next thing is that $800k in cash sitting idle is never good.

How old are you ? When are you looking to retire? How is your super? Do you have any other assets, have you ever bought property ?

If you have never bought property, maybe the best thing to do is to start small and gradually expand your circle of competence.

Also, think about joint venture arrangements and being the “money” partner. This may also be a good way of leveraging someone else’s experience.

Cheers,
Andrew.[cap]

Hi,

Well done on your savings. I don’t think I will give any advice about what to do with the whole sum. I have a question though. Where in Eastern Europe have you been thinking about.
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I saw a show on the TV last night about Germany after the reunification. It would be very interesting to have access to these sorts of markets. I wonder if anyone else has experience investing in these areas?
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Hi Steve,

With all due respect I wonder if property investment is the right thing for you.

The reason I say this is that your ‘saving effort’ as commendable as it is indicates (to me) that you have a low risk tolerance. And while I believe well researched property is relatively low risk there is still a risk.

And to consider property investment overseas can add to the risk level. I would certainly advise start closer to home and then if it all fits together and your emotions are coping start looking further afield.

If ‘property’ is still it then you would be well advised to grab a few of the books mentioned in the following thread

https://www.propertyinvesting.com/forum/topic/6845.html

in order to expand your horizons and knowledge base – this will also fine tune your BS detector.

Note I am assuming as a ‘saver’ that you have probably been ‘head down tail up’ saving like hell.

Factors such as desired income levels, your age, family situation, risk tolerance and your personal investment beliefs all come into play.

Critical to your journey is choosing how you want to invest in property – are you going to pursue growth or income or a combination thereof? In some respects this will then determine which properties will suit you as investments.

Hope this helps some.

Derek
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0409 882 958
Property investment advice and researched property in quality locations available.