All Topics / Help Needed! / Newbie looking for help

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  • Profile photo of cubster_2cubster_2
    Participant
    @cubster_2
    Join Date: 2013
    Post Count: 10

    Afternoon All,

    I can see that this thread is old, but hopefully this will still get peoples attention.

    I am new to this website. I am in a similar position to Belinda. A bit of history on my background. I'm Irish and have been living in Sydney for the last five years, now a permanent resident. I currently live in Newtown. I bought a PPOR in 2007 in Cork City and left for Oz in 2008, then the GFC hit. My property went from 365,000 euro to a current 180,000 euro. It is currently rented for 750/month with repayments of 1120/month on a 1.6% ECB variable tracker rate. That is the past, which I will have to get over.

    I'm now looking to invest in Australia and have been to a few free seminars and read a lot online and have learned quite a bit. I am starting to feel analysis paralysis and I'm itching to buy another property but cautious of getting burned again. I'm trying to find an experienced Accountant, Mortgage Broker, Buyers agent and someone who has successfully purchased at least 5 properties. We all know that there are a lot of spruikers out there charging thousands for knowledge, which I don't agree with. If they are already wealthy and financially free, why not give back to society and offer a hand to help others out of the hole. I don't ever expect anything for free from anyone in life, I will always offer a reasonable amount to someone who can help me in life. If they won't accept money I can offer my own life's worth of knowledge and skills.

    I am a building services engineer and I design mechanical, electrical and plumbing services for residential, commercial, pharmaceutical and oil & gas industries. I come from a family of trades and have quite a bit of hands on construction experience and can visualize and coordinate potential construction and safety issues.

    The skills that I lack are finding the correct property, how to carry out due diligence on a property or suburb, negotiating purchases, pitfalls in purchasing, knowing when to use certain asset protection structures when purchasing and more.

    If there is anyone out there who has managed to give themselves the freedom to do what they like as a result of passive income and would like to meet me or initiate a dialog please get in touch with me. I can offer my skills and knowledge in exchange for same regarding property investing.

    I would also like to hear some opinions/opinions on what I should do with the Irish property. The one risk associated with it is my father is a guarantor on the property until the mortgage reaches 153,000 euro. I would like to get him off the mortgage documents as his house is at risk if the bank decide to be nasty.

    Steve

    Profile photo of Keith8Keith8
    Participant
    @keith8
    Join Date: 2013
    Post Count: 1

    Hi Steve

    i am also new to investing. You have covered off most of my own concerns. I would like to start investing in positive cash flow property. I am seeking either a reputable mentor or company to work with me. Do any of you have any recommendations?

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