Hey All I've just registered on this site and am new to the property investing scene. I have read a number of books including all of Margaret Lomas' books as well as a few other's including Steve McNight. I feel I have educated myself well but now need to put my words into action. Who should be in my investment team? eg accountant, solicitor, mortgage broker. What should be my next step be? This is just an opener I hope I can join this group and start my journey to financial freedom today!
Welcome to the forum.
Your first port of call should be to a loan manager or mortgage broker to find out what you can afford to borrow.
This will dictate where you can afford to buy.kr1982, congrats on taking the first steps. If you have read a few books, you should know that “your team” will be very basic as you get started, but as you pick up more and more IPs, you will create a “team”.
Next step: Keep reading until you find the guts to jump in….then……jump in. The sooner the better.
Most importantly, enjoy the journey and have fun! Good luck!!!
Duckstar: Thanks for the welcome definately appreciated. I like the mortgage broker as a start duckster I sorta need to know what funds I'm playing with haha. I'm thinking my game play should start with seeing a mortgage broker then, an accountant who deals with property to come up with a structure that suits. Finding a property or at least an area to invest in is still a fair way off yet. Does that sound fair??
HandyAndy888: Cheers for the welcome got any tips for getting the guts up? I feel so close but so far!!
Hey Again all,
I'll put another one out there for comment on. Is a Line of Credit the way to go with an investment loan?? In saying that you can use that one account for all aspects of a particular property eg rates, repairs etc. If not can you put out some other loan structures I can investigate. My main aim is to make it as easy and transparent for me, the accountant and the tax man. Any ideas would be greatly appreciated! I'm still feeling my way through everything
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