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Hi all, time to get serious

Discussion in 'Introductions' started by dmb1978, 5th Nov, 2015.

  1. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
    186
    Location:
    ACT
    Hi all,

    I was on Somersoft before and then life got in the way and now I'm back to learn as much as I can about property investing.

    I have two IP's but am currently at 84% LVR so a bit hamstrung and need to get serious about how to move forward.

    Donna
     
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Hey @Donna , welcome aboard.
    Good to see another ACT person on here, not many of them around.
    Where abouts are your IP's?
     
  3. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
    186
    Location:
    ACT
    Hi Azazel,

    Thanks for the welcome. I have a house in Gungahlin and a unit Bruce. Would love to be in a position to get more but need to work on that.
     
  4. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,782
    Location:
    Perth WA
    Hi Donna, maybe hit up @Jamie Moore - he's a broker in the ACT and might be able to help you get to the next property. You might have some LMI credit you can use to grab a deposit for your next IP.
     
  5. MsAli

    MsAli Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,147
    Location:
    Sydney, Australia
    Welcome Donna. What's your vision? You can do it !
     
  6. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    863
    Location:
    Sydney (West) and Canberra
    Shop around for vals on the Gungahlin place - i've seen a fair few positive results in the region.

    If your looking to learn - you've found the best place for all things property investment.

    Good luck! :)
     
  7. Ozzie in Texas

    Ozzie in Texas Well-Known Member

    Joined:
    3rd Nov, 2015
    Posts:
    497
    Location:
    San Antonio, TX
    Howdy from San Antonio.

    As just a little side note, I remember being on an escalator in Burwood shopping mall (a suburb of Sydney) in about 2007 and I standing a step ahead of someone in their early 20s excitedly talking to their friend about investing in real estate. I remember telling my husband at the time that its just like the stock market.........too many people are talking about jumping in.......maybe it's time to jump out.

    I am not pretending to know what's around the corner............I just want to post a word of caution that don't ever feel that you have been left behind because everyone else is doing it. When everyone else is doing it, is exactly when you need to be cautious.

    That said, the same advice applies to all times........in good and bad economic times........make decisions that you are comfortable with.

    Make your IP decision without making huge personal sacrifices. That way, you can always ride out storms. If the answer is yes to this statement, then go forth and I wish you much luck and prosperity.
     
  8. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
    186
    Location:
    ACT
    Thanks MsAli,

    As cliche as it is, I really want to make my money work for me and build a portfolio of properties that will eventually earn me a passive income that will be substantial to live well on.
     
  9. bob shovel

    bob shovel Well-Known Member

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    18th Jun, 2015
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    5,390
    Location:
    Somewhere in the land of Oz
    I put out one of these on SS and things changed for me! I was hungry for it and started reading books and every thread on SS! Get the broker and taking to people!
     
  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Location:
    Canberra and Sydney
    Welcome aboard Donna - always good to see another Canberran on the forum.

    Cheers

    Jamie
     
  11. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
    186
    Location:
    ACT
    Thanks Redom and Ozzie in Texas.

    The Gungahlin property is doing well but unfortunately the PPOR is the money pit so will need a miracle at this stage ;).

    Wise words Ozzie, I just love property and if I didn't have a good job that I also love I would leave and pursue something in the industry. To satisfy my lust for working my money I definitely need it to be on the side so property investing looks good but at no time do I sacrifice my quality of life or risk too much. Which is why I probably wont be rich any time soon ;)
     
  12. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
    186
    Location:
    ACT
    Thanks Bob Shovel and Jamie,

    I grew up in Perth and am kicking myself now that I didn't buy property instead of that great 1989 Toyota Celica that took all my savings and died after a year.
     
    Jess Peletier likes this.
  13. dmb1978

    dmb1978 Well-Known Member

    Joined:
    5th Nov, 2015
    Posts:
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    Location:
    ACT
    Thanks Jess
     
  14. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
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    2,161
    Location:
    Canberra and Sydney
    Nah they were pretty cool. I had an 86 twin cam Corrolla :)
     
  15. dmb1978

    dmb1978 Well-Known Member

    Joined:
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    Posts:
    186
    Location:
    ACT
    [QUOTE="Jamie Moore, post: 96572, membelectrics ah they were pretty cool. I had an 86 twin cam Corrolla :)[/QUOTE]

    It was great, metallic paint and all electrics ☺