SHOULD I OR SHOULDN’T I

Hi operator

Welcome to the forum.

In short, yes you should take the plunge but no, you shouldn’t do it without knowing what you are doing. The market has been around a long time. It will still be there after the forum you are going to.

One thing I would recommend you do is buy the Australian Property Investor. It is a wealth of information and will give you a number of suggestions about what and where to invest.

Finally, just a matter of internet etiquette. Don’t type in capitals. IT SOUNDS LIKE YOU ARE YELLING.

Good luck

K

Hi Operator
couple of things
1.Don’t take the plunge until you know what you are plunging into. it maybe the golden waves of success or the hard desert sand of failure.
2.Drag the equity out of your property and then drop it back in to the loan ( check with your broker that there is no fees or fines by your lender for doing this usually there isn’t)
3.You know have $120,000.00 available cash which you are not paying interest on until you are using it.
4.Look for a property (after researching the area very extensivly And I mean nearly to the extent that you should now there pet dogs.)
5.Once this has been done and the property stacks up then negotiate on the price remembering you have 120k cash for a deposit when their price is worked out and you think its ok.
6.Drop it by 10% and offer cash to do the deal there and then with you,the owners,and the real estate.
In this market they will come up and you go down from the position you know its worth.(you must have done all your homework by this stage and you should be able to quote “this price sold for this” and this is on the market for this”.you must be in the driving seat.
I am and its a good place to be.
Today I just shaved $200,000.00 off a block of land that I have just got the go a head on using the above.
So yes it works.
and I’m reasonable happy.

here to help

Hi operator and welcome

It’s interesting that you ask what should you be doing. It is probably more appropriate to ask what others would do and then wait for the range of responses, which may be quite diverse. The responses are all well considered but they are based on individuals’ goals, circumstances and experience which may well be quite different from yours.

As Simon said, you probably know more than you think. If you haven’t already it would be wise to work out what your goals are and then work with an appropriate advisor who has a full understanding of your financial situation and specific circumstances as well as your goals and then put a plan in place that you can action. You then control the decision of what you should do and it will be based on sound assessment and reasoning.

Education is a journey and an ongoing process. We all need more education, some of which is based on theory and some based on experience. There is no set point at which everyone is ready to invest. Therefore, understanding the market is important but making the move at the right time is a learnt art, which can start at any time.

By the way – you are doing very well as a newbie to computers and the forum.

Best of luck

pr