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what's stopping you..

Discussion in 'Investor Psychology' started by KLH, 25th Aug, 2015.

  1. KLH

    KLH Member

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    I'm interested to know what's holding people back from buying their first IP or expanding their portfolio in the current market?
     
  2. Phil_22

    Phil_22 Well-Known Member

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    Regional, NSW, Australia
    At the moment just getting our PPOR organised for a valuation will then pull equity out to purchase my first IP.

    We have pre-approval for finance based on a suitable valuation coming in.
     
  3. Raydar

    Raydar Well-Known Member

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    Newcastle NSW
    I nt needed to convince my wife that buying or first IP was a good I idea. Took about 6 months. She was of the notion we needed to pay off our PPOR first.
    At the moment, we are looking to extract equity to further our portfolio.
     
  4. Rockys

    Rockys Active Member

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    The Banks tightening on lending policies:(
     
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  5. MTR

    MTR Well-Known Member Premium Member

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    Start looking at lo doc RAMS, very reasonable rates, there will be certain criteria to meet, but good product IMO.
     
  6. Raydar

    Raydar Well-Known Member

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    Make sure your loans are structured correctly. Don't cross securities your loans. We are in the process of undoing this.
     
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  7. weejimmy

    weejimmy Well-Known Member

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    Waiting for a permanent visa ...
    I'm still on a sponsership visa
     
  8. 2FAST4U

    2FAST4U Well-Known Member

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    Lack of $$$ to buy another IP. I need to keep saving and get a higher salary.
     
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  9. MGF

    MGF Well-Known Member

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    Location:
    QLD
    We're looking for our PPOR. Probably the biggest thing right now is that the houses in our area (regional QLD) are a bit crap!

    It's sorta like... three bedroom yuck. Go up in price. Oh, four bedroom yuck. Go up in price. Oh, you've added a terrible swimming pool. Go up in price again. Oh, now a stupidly large shed.

    In capital cities every time you add money you can get something better. Up here it's still crappy but bigger.

    So we're doing a bit of searching. Looks like we're going to end up buying something with hardwood floors and then renovating/rebuilding to make it good.

    Probably first time in a while that I can't just throw money at a problem to solve it! I've seen some really bad expensive properties that are essentially just buying yourself a yard maintenance job.
     
  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Could you rent and invest elsewhere?

    Cheers

    Jamie
     
  11. Chilliblue

    Chilliblue Well-Known Member

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  12. MTR

    MTR Well-Known Member Premium Member

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    Don't know you scenario or where your properties are of course, however sometimes you sell down to move forward faster, reduce debt, increase serviceability and have equity. Depending on where it perhaps is not such a bad idea at the moment??

    MTR:)
     
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  13. MGF

    MGF Well-Known Member

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    QLD
    I prefer index funds at the moment for wealth growth. I'm also self-employed and my job returns more money than anything else! So PPOR first and then see what happens. I'm agnostic when it comes to wealth growth. Don't care how precisely.
     
  14. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Up to my ears in reno's! Got to finish current projects (another reno after this one) before getting equity and going again.
     
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  15. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Nothing. I am :D
     
  16. MJS1034

    MJS1034 Well-Known Member

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    Sunshine Coast
  17. Raydar

    Raydar Well-Known Member

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    t
    Talk to Joe, he'll give you some good advise.
     
  18. 2FAST4U

    2FAST4U Well-Known Member

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    Adelaide
    [​IMG]
     
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  19. srirang

    srirang Well-Known Member

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    Location:
    Melbourne
    Currently paying down PPoR and in the process of starting a new business. So, just watching the market and may invest again next year.
     
  20. Leo2413

    Leo2413 Well-Known Member Premium Member

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    imo Joe Hockey was spot on with his comment re getting a better job, better prospects etc. Most people just don't want to face the cold, harsh reality of why they are not where they want to be in life, imo.
     
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