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New member......looking for advice and best threads to read.

Discussion in 'Introductions' started by Gurtofen, 13th Jan, 2016.

  1. Gurtofen

    Gurtofen Well-Known Member

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    Hi All,

    New member here with plenty of questions to ask however I want to ensure that I have read the best overall threads to ensure that I don't rehash already discussed info. Due to the amount of info on here, I don't think I will have the time to read through every post so any pointers to the best relevant threads would be much appreciated.

    My wife and I have a fair amount of capital at our disposal at the moment and we are looking to try and maximise our opportunities. Hopefully this forum can provide some excellent advice/suggestions on maximising that capital.

    Look forward to getting involved.
     
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  2. monalisa

    monalisa Well-Known Member Premium Member

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    Hi @Gurtofen

    Welcome to PC :)

    I would suggest you start with the interviews on the Somersoft forums to gauge the strategies used by the Somersoft (now PC) members.

    Interviews - Somersoft Property Investment Forums

    To maximise opportunity I would suggest looking at the big picture.

    Where do you see yourself in the next 10 years?

    What are you trying to achieve with real estate investing?

    Work out your strategy.

    This forum is a very useful resource, and you have come to the right place. I am glad we found this forum at the time we were starting our investing journey, and it saved us from poor decisions, and facilitated great out comes.
     
    Last edited: 13th Jan, 2016
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  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    mrdobalina and York like this.
  4. hobo

    hobo Well-Known Member

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    Agree with looking at the long game and working out what you want to achieve from property investing in the long term.

    The interviews linked above are a good resource, but I'd also recommend you follow the "discussion" link at the bottom of each interview, since in many cases, some excellent insights were also revealed there.

    It does sound a little like you are in a hurry, so I would say, don't rush in to anything, read, read and read some more (here on PC mainly! as well as back on SS), and educate yourself rather than trusting others blindly.

    Best of luck :)
     
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  5. Azazel

    Azazel Well-Known Member

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    Hi @Gurtofen , welcome aboard.
    You can use the search function to read things your interested in or not too sure about.
    Also clicking on 'recent posts' at the top you can see the faster moving threads.
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    +1 to @monalisa's mention on interviews from Somersoft! They are now a couple of years old but they make an inspiring evening of reading.
     
  7. Gurtofen

    Gurtofen Well-Known Member

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    Hi all,
    Thanks for the replies and will have a good look through those threads so thanks for the info.

    I am definitely not in a rush I can assure you! I have invested in shares and precious metals previously and have not delved into the property market yet which probably sounds crazy I know.

    Long term goal - I would like to retire at age 55 in 17 years time and my wife to retire at 55 in 11 years time! We would like to ensure that we own our own PPOR (and that it is pretty much our dream home per se) and have diversification of investments i.e investment properties/precious metals/managed funds etc.

    I am currently in the military and earn $135K per year and my wife earns around $75K per year. We are currently living in a Defence Married Quarter paying subsidised rent of $625 per fortnight. We have 2 young girls aged 5 and 7.
    We have around $400K in cash with another $80K - $100K on the way, $150K+ in Precious Metals and significant Super balances. We currently save around $50K per year.

    Both my wife and I obviously want to purchase our own house at some stage and think the time is very near (however I am of the belief that significant economic strain will impact on all markets including property in the near future) so we are not in a rush by any means.

    Hopefully this forum will be able to provide some excellent strategies to maximise our capital to achieve the long term goals listed. I am aware that our goals are not strictly property as such but our primary motivation is to purchase a PPOR within the next couple of years but also maximise all investment opportunities available to us.

    I look forward to hopefully hearing some excellent suggestions on how experienced members on here would proceed based on the info provided.

    Cheers.
     
  8. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Nice... its great to have a dream! Even put something up on your fridge to look at every day and notes on how you will do it.. Here is my dream home which I exchanged on a couple of weeks ago and will settle on in about 5 weeks... I can pinch myself.. it is true!
    Screenshot_2015-12-28-10-05-06.png
    And read up... I like your first posts, and I wish you and your family all the best. :)
     
  9. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Look at the benefits of buying the PPOR now and renting it out while you are living in subsidised rent and then you later move in when circumstances are right.
     
  10. monalisa

    monalisa Well-Known Member Premium Member

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    @Gurtofen

    Congratulations on actions you have taken to build the asset base that you currently have.

    You are in a great position, and it is good to work toward your family home.

    It would be a good start looking at the various cycles the Australian real estate markets are at - Australia has a number of markets, so you will benefit from capital gains in one, and then build on that to invest elsewhere, and benefit from capital growth in the new markets. Some of these properties can then be sold to fund your main residence.

    As I had posted earlier, look at the big picture, and your serviceability to determine how much you can afford, and work back from that figure.
     
  11. MsAli

    MsAli Well-Known Member Premium Member

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    Great reminder @Gockie !! Vision boards have worked for @monalisa and I !! It always works. A great book is The Power of Your Subconscious Mind by Dr. Joseph Murphy....As well as some Earl Nightingale videos on You Tube :).

    Did you have something like this on your vision board / fridge?
     
  12. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Hehe. I have an email which I regularly refer to and update which I use as a guide for my goals, short term, middle term and longer term. I suppose I should add pictures to it. I'll do that next time I look at it! :)
     
  13. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Considering the benefits from DHOAS payments and relatively low costs of property in Adelaide, picking up a PPOR may be a prudent move (especially if you've been in the military for a while) - it may very well work out to be the same or less cost as your current rent, dependent on the property value.

    You can then park the excess capital in offset, giving you a guarantee reasonable return whilst looking at other investments, which you can then debt recycle etc. Not a bad situation at all.

    Precious metals - are you into gold or silver?
     
  14. MsAli

    MsAli Well-Known Member Premium Member

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    Do you buy Corey? Any luck for either ? :| I've only seen them drop!
     
  15. Gurtofen

    Gurtofen Well-Known Member

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    Hi Corey,

    Yes I have been in the military for nearly 21 years and am entitled to DHOAS for the maximum term of 25 years at the maximum rate.

    Precious Metals - I have both Gold and Silver

    Cheers.
     
  16. Gurtofen

    Gurtofen Well-Known Member

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    Hi Terry_w,

    Unfortunately if I purchase a suitable property in location (PPOR) with the intention of renting, I would no longer be entitled to the Married Quarter and the associated subsidised rent. This unfortunately means that purchasing any IP has to be 'out of location' (there are limits to how far away 'in location' but I won't bore anyone with those details) or the PPOR has to be the first purchase prior to any IP if that makes sense.
     
  17. D.T.

    D.T. Adelaide Property Manager Business Member

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    Firstly, thank you for service.

    If I was you, I'd hold the gold / silver as a form of buffer, get yourselves a house utilising your dhoas. You could pay it down quick smart using both your salaries.

    You don't need to pay it all the way down to invest though. Have a chat to Corey (mortgage broker) about regularly recycling the debt out to buy investment properties with. I've no doubt you could get say 5 over the next 10 years (plus your home) which could lead to a pretty comfortable retirement when combined with your Supers.
     
  18. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Never bought physical, only gold producers or speccy assets. Made some very healthy gains from some, obliterated by others in the later stages for producers which I held onto.
     
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  19. MsAli

    MsAli Well-Known Member Premium Member

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    Gurtofen, where do you see PM's going in the future?
     
  20. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    In that case just preserve as much cash as you can for the future main residence. Start planning now with structuring the loans and ownership of the investments - 100% loans where possible. Perhaps consider keeping your cash and wife's cash separate so you can lend to each other in the future etc.