Newbie’s first post

Hi after some advice ,current financial situation mortgage 115k ppor valuation 900k, 20k shares, 100k pa job, about to inherit 600k more inclined to invest in shares than investment property (been there copped a nightmare tenant scared off)would love some feedback cheers

 

Welcome to the forum. Your numbers are enviable, barely any mortgage, high salary, inheritance. Done well I reckon

A property manager puts distance between you and ****** tenants. Do you have currenty?

 

Welcome aboard

Cheers

Jamie

 

Thanks, our pm was constantly ringing us because of their complaints about anything and everything( we completely renovated it before we rented it out)in the end being on one wage with wife looking after our 3 midgets we were tired of the struggle so we sold back in 2012.Seeing what the areas worth now boy do we regret it but that’s hindsight I guess. With the inheritance we will pay off mortgage first and then not sure hence why I’m writing here seeking ideas

 

Need to identify some investing goals. And increase your investing knowledge asap. You can't make better decisions until you have more knowledge which will in turn tweak your mindset and investing approach. Financially, you have alot to work with but your lack of knowledge and current mindset is letting you down imho.

 

Thanks Leo2413 for your honest feedback really appreciate it and yes you’re spot on. I’m in no rush to invest straight away this inheritance is a one off. I only came across this forum 3/4 weeks ago and have had my eyes opened up immensely to all the options out there. The coin won’t materialise until December (6 months from grant of probate)so have time for research and still won’t act until confident to do so.im more inclined toward blue chip shares,lic’s & vangaurd international eft with div’s reinvested

 

Btw I’m 41 and the minister for war and finance is 40

 

Dam, looks like we're losing you to the dark side

 

No not at all i just think with debt free shares there’s no insurance,maintenance shifty tenants,pm’s ect.Im not across the formula how to service multiple ip’s especially on one wage 3 midgets.The bossshould be reentering the work force next year (interior design).Am I on the right path with everything sitting in the offset account waiting for equity to build. I’m a plumber and right now I feel like an annoying 1st year apprentice to you finance gurus, but I’m a sponge nothings set in stone with our moves

 

welcome to PC @Mws, sounds like you had some negative experience with the maintenance of your property portfolio ( aka finding and managing tenants), how was the capital growth of it?

re your cash, equity, income, there is a lot you could do.

HOWEVER, what do you roughly want to achieve via investing ( share or property)?

 

Gday Eric i’m leaning towards shares currently hold ARG ANZ WES with divs reinvested. Will be inheriting a few CBA and CSR,will be reinvesting those divs too. Out of the 600k inheritance 115k will pay off mortgage 85k kids high school education( cash term deposit)and 400k into direct shares lic’s and vangaurds etf VGS.% I have’nt decided on what’s going where. All divs will be reininvested to create passive income in 10 years time. We bought in Knoxfield Vic in 2006 for 212k 3bed 2 bath 720sqm spent 20k reno in2010 sold 2012 432k and put it all into current ppor, your thoughts?

 

Yep thanks for your input