Hi everyone, I have been thinking about investing for years and wasted countless hours looking at realestate.com.au without making a single purchase while watching prices go up. So where do I start...how to I work out a plan that suits my financial situation and long term goals? All advice would really be appreciated? Thanks Wendy
Hi Wendy The best place to start is to have a chat with a mortgage broker to understand what you can comfortably borrow. Have you spoken with an investment-savvy broker as yet? Where are you based?
Hi Jackui, I have liaised with a lender and do have an idea as to what I can borrow without having formal approval. I don't know if they are investment savvy though. I am aware that my structure set up is important but I am not sure of my investment strategy i.e. Cash flow positive / negative gear / renovate / flip. They all seem exciting to me etc Thanks Wendy
Hi Wendy, It's important to have an idea about your goals - what is the end result you're after? If you know this, speaking with a good investment savvy broker will allow you to map out what's possible for you in terms of finance, and this will give some insight into the types of properties you need to look for.
Hi Wendy, I would suggest reading lots of books on real estate, personal development etc. There is a thread on here with a huge list of titles. At the start the best use of your time and energy is into your real estate knowledge and literacy. From there you will find it easier to develop your plan, which will go hand in hand with your end game. Do not let the FOMO push you into making a poor decision that costs you in the long run. It is always a good place to buy.... somewhere.
Looking at the title, I thought you were going to invest in solar power and wind farms....... The Y-man
Hey Wendy! I am the exact same as you I've always wanted to get into investing and I am on the path to learning about my future goals and how to achieve financial independence. The best thing you and I can do is invest in our learning... There are many books and podcasts out there! Podcast Book recommendations I have personally read "Rich Dad, Poor Dad" and now "0 to 130 Properties in 3.5 Years" both have been recommended to me by friends who are successful property investors and you should too Plus there is plenty of information and expertise on this forum to access at any given time!
1. Speak to a broker who is experienced with investment lending to see where you stand. There are a few on here and distance isnt an issue. 2. Decide on an investment strategy. A BA (buyers agent) could be a good starting point for this. 3. Read, read and read so you can have an understanding on what is good, average and poor advice. 4. Put all of the above into action. You mentioned you spoke to a lender. Was this in a branch? Important to realise the people helping you are employess with an employee mindset and only have one lending calculator to work with as well as one set of policies. This will lead to incomplete and biased advice.
Hi Wendy Best to speak with a broker rather than directly with the bank. It's rare to find investment-savvy folks at the bank that will set things up in a manner that is best for you. Brokers can consider a variety of lenders that might be suitable for you rather than just one which is what you get when you deal directly with the bank yourself.
Buy Property Interstate WITHOUT Buyers Agents! Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia » Learn HOW Now!