Good Day To All Googled some knowledge or information related to investment property couple of months ago, landed to somersoft, found that it’s been moved to Property Chat, following it since then. I am impressed by sincere info & solutions presented by forum members here. So joined now to actively participate and attain more knowledge. Newbie to property although have property as home mortgage and just had investment property (from equity) couple of months ago through one of the investment property company at Melbourne. They did all the research to find the location for investment property at Qld and did all the contract administration process for us to buy the land and build the house. I hope it’s a good decision although paid around $10k for their services but process was very smooth without any hickups and now rented out recently. The point was to play safe considering entering the foot in the industry and time required to attain the knowledge to invest on my own will be trade off by capital growth to cover the service cost of $10k. Long term property holding will be strategy for this investment till it has some equity to buy next one. The aim of joining Property Chat is to gain enough knowledge to do all the property research on my own and and get next investment property and further whenever we are ready with finance to have informed decision to know what , when and why to invest and which strategy to follow. For that I am mentally prepared to put my hard yards and some serious time apart from work and family commitments. I hope this forum will help me to get there from here. Please give your thoughts on above journey till now. Thanks to everyone once again !
Hi and welcome. Congratulations on starting your journey. Regarding your IP you worry me a little when you combine the following: Investment company Melbourne They did all the research House & land Brisbane Play safe I hope it works out for you. Meanwhile you’ve found your way here and have the right attitude going forward. Next step now is to invest the time to learn how to do your own research and develop your own strategy. Cheers.
I agree with Alan - I'm a bit concerned for you. Lots of red flags in what you've written! I just wrote a report this week about this very thing - you can grab it at the below link if you think it might be helpful.
While what you've done may not be the ideal way to have gone for many of us, at least you've gone out and done something, so you're way ahead of most of your peers. Sometimes the first step is really the hardest, and I can understand why you've done things the way you have. But for your next property, now that you have the confidence and knowledge, do it by yourselves (along with the free advice from the forum).
Thanks for your response Propertunity. Please educate me on the above as I am bit confused. Is the concern related to following : 1. Spending 10K , which could be saved ? 2. Received Incorrect advice ? 3. Long term loss ? 4. Overpaid in House & Land package ? Or something else ? Regards
Welcome to the forum, Anil, I'm a newbie too. Good on you for having taken the leap and got one ip already. If you would like specific feedback from commentators here on what you have bought , you're going to have to bite the bullet and disclose both address and price paid, I think. You've already sent them into a panic on your behalf by mentioning agents and fees and "they chose the property" etc. May as well try and put them out of their misery by full disclosure. Come on, you know you want to!
Probably all 4 of the above. Maybe have a read of the thread below, where a perth forum newbie gets some good advice on why they should be wary of these one-stop-shop property "investment" companies. Infinite Wealth, house and land ?
If that's the case, do a search on this forum for some recommended books and learn from the ground up . You can't do better until you know better and imo a structured, methodical format will be the best, supplemented by the forum etc.
what is done is done, put it behind you regardless what ppl say. move on to your next step, self education, reading reading reading.
