All Topics / Help Needed! / investment in property

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  • Profile photo of mike.12mike.12
    Member
    @mike.12
    Join Date: 2010
    Post Count: 36

    Thanks for guys who had given me info about buyers agent fee.
    I have a principle home and is worth $550T and mortage of $140T in nsw.

    I have spoken to my bank and they have given me conditional approval of $350 thousand.i would like to invest but not sure where to invest.I am open to invest anywhere in aust.
    Not sure whether to buy new land and home package to get full deperation etc or other property.

    Can some one please give me some ideas.
    cheers
    mike.12

    Profile photo of find_another_slavefind_another_slave
    Participant
    @find_another_slave
    Join Date: 2009
    Post Count: 25

    Really depends on what you want out of your investing – i.e. rental income, capital growth, tax "savings" (depreciation/negative gearing).

    Good investments are everywhere, start by looking close to home.

    You will pay a premium for new property, and depreciation isn't always a good idea.

    A little investment in some education resources would be a great idea – $30 will get you a copy of Steve's book, which covers a LOT of ground(and is easily understood), and may help you make up your mind in the direction you wish to go.

    You'll get more out of it if you learn, and understand what you're doing, as there is no-one more interested in your outcomes than you!

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Agree with above – start with some reading, familarise yourself with differen't strategies. Set a goal and get to work acheiving it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of onthemoneyonthemoney
    Member
    @onthemoney
    Join Date: 2010
    Post Count: 134

    If you find a suburb and want more information on it let me know as happy to send you reports on potential growth.

    Profile photo of EPI_DenEPI_Den
    Member
    @epi_den
    Join Date: 2010
    Post Count: 71

    Hey Mike!

    Congratulations on your move into property investing, and good luck.

    Start by reading blogs and articles, and if you're keen a friend and I make free podcasts. Whatever you choose to do, there is heaps of free information out there. I agree with Find_Another_Slave – you really need to consider exactly what you want to get out of property investing BEFORE you start buying. There are several strategies you can employ and the property you buy will be determined by the strategy.

    Have a listen to a couple of our podcasts and see what you think. Keep reading here and at any forum you can get your hands on. Find a property investment magazine and look through. Make a conscious effort to know more!

    And good luck! Feel free to get in touch if you'd like to ask any questions.

    Cheers,
    Den

Viewing 5 posts - 1 through 5 (of 5 total)

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