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Time for me (well, us)

Discussion in 'Introductions' started by Ghoti, 10th Jun, 2016.

  1. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    124
    Location:
    Melbourne
    Hi folks,

    Been reading and lurking around a few newsletter and investment sites and am no moving into the action phase.

    As a young fella I had a 4 property retirement plan...but was soon dissuaded by the golden promise of superannuation. 30 years later I believe I was right.

    So, kids now off our hands the family home some 70km from CBD was sold and we have moved to a mere 19km from CBD. Borrowed what bank would finance so we could have funding for an IP.

    From my lurking it seems sub $450k is the sweet spot - I assume to keep it neutrally geared.

    Anyway so much I dont know, and while I figure we are near top of the market I figure with only 10yrs till retirement I just gotta jump in boots n all and till I learn more keep basics of proximity to schools, shops and public transport.

    Cheers
     
  2. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Gday @Ghoti , welcome aboard.
    Where have started your investigating for an IP?
     
  3. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    124
    Location:
    Melbourne
    Started looking in regional Victoria, then thought a unit Carnegie/Oakleigh, then house Maidstone/Footscray, now thinking house around Frankston/Seaford.

    Primary goal is moderate growth, neutral gearing and scope to improve or develop later on.
     
  4. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Welcome @Ghoti. You'll learn heaps here - good to have you aboard :)

    With a 10 year investment horizon you have time, but not an abundance, so be a sponge, learn a lot and also make sure you have thought about your exist strategy (how to go from here to retired). And be open to buying where you feel you'll have the best chance of reaching your goal, not necessarily where you know now.

    In addition to property, do you have other investments outside super? Be sure to look at the full picture to work out what's best for you keeping in mind your timeline and risk profile.
     
  5. peastman

    peastman Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    120
    Location:
    Melbourne
    Hi @Ghoti
    Welcome to the forum.
    If you are interested in getting to know some of us a bit better, we regularly have a bit of a get together.
    Melbourne East group meets on the 2nd tuesday each month at a suburban pub, the next one will be on 14th June at 7PM
    Grandview Hotel Bistro
    429 Heidelberg Rd, Fairfield (Cnr Station St.)
    Fairfield, VIC,
    Booked under "Property Chat"

    Melbourne West meet at different times.
    Full details are posted here Networking & Meetups

    There is no cost (other than optional meal or drink) and no agenda, just come along and chat to other property people.
     
    ellejay likes this.
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    A regular meet up?
    Good one youse.
     
  7. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    124
    Location:
    Melbourne
    Thanks Steven. Previous investment forary ended in tears so left with just Super...and very little there to show for my contributions.

    And thanks for the invitation peastman. Saw yhat elsewhere in the forum. Wife and I have an appointment this Tuesday. Hope to make the next meet up.