Hey everyone, New member to keep it short and sweet, i have always had an interest in property however choices made for me got in the way of pursuing that interest when i was younger (currently 29). The fact that property prices have more than doubled since ive been watching the market back when i was 15-16 with no deposit/capacity to purchase at the time has left me in a weaker position now that i am a current first home buyer. Im not looking to get rich via property, like most people i just want to be comfortable. I have enjoyed reading many past posts and learning about the experiences which others have had. I have recently obtained my builders license and am in a dilemma as to what course to take, will post more on my intentions in detail on a what to buy post. Cheers, Mus
Sometimes not wanting to get rich with property means you end up getting nowhere. Because you dont bother learning about something you might only do once every twenty years and you end up making bad financial decisions. How many people dont get offset accounts, religiously pay off their ppor and lose out on thousands a year because they thought it would be a forever home and then move and rent out?
Hey i dont plan on taking it easy and im not afraid of taking risks but i also understand my limitations. An offset account is a requirement for me as all my savings will be going straight into it, i figure if i can access it at a later date depending on what i purchase i can use it to develop the property while paying a lower repayment prior to development. Hey i spent 2 years in tafe and 4 years at UTS studying Building and Construction Project Management respectively. Been in the industry since i was 19-20 more out of pressure from surrounding forces than desire but thats a whole other story.
Imo no course at this point in time. I have always believed that in order to give yourself the best chance to succeed in building wealth you need to do 2 things. 1. Learn as much as you can about the vehicle you intend to use to build wealth with. 2. Develop and maintain the best mindset conducive to seeing you achieve those goals. Buy some of the most recommended books on PI on the forum. Learn your craft from the ground up. Goals, strategies, risk profiles, building teams, growth drivers, how to conduct due diligence, market cycles, etc etc. That will be the best starting point you can give yourself imo.
