- iamokParticipant@iamokJoin Date: 2021Post Count: 0
Hi all newbie here.
Just leaving FT employment and moving back into mgt consulting expecting about 80K income this year. I’d like to get some thoughts on where to start with property investing. I have time and motivation but I can see a few barriers – age and self-employed income.
I’d like regular income say 100k pa within 5 years.
Any thoughts appreciated. ThanksTerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
First thing to do would be to work out if you qualify for finance – which appears it might be difficult to do.Kara47Participant@kara47Join Date: 2012Post Count: 28
Advised by my mortgage broker when initially self employed that most banks want 2 years of financials, tax return completed & payments up to date. I was able to get a loan after just over 18 months with tax done & 2-3 up to date BAS statements for the current year. The only bank that would do this ( via broker) was ANZ. You do get more choice of lenders after the 2 year mark. Talk to a broker to get their advice. They also suggest minimising deductions to show maximum income.robertstevenParticipant@robertstevenJoin Date: 2021Post Count: 0
I think you should invest in the fact that there was an affiliate incomeColin RiceParticipant@fmsJoin Date: 2011Post Count: 338