what's stopping you..

Lots of discussions about property, how it can be used to create wealth. Able to provide our PPOR as an example was great as we saw some growth. Also had a friend who was investing as well, I was able to use her as another example or how you extract the equity. The main thing was the huge debt you get yourself into. To most, that is scary, the fact that you will never be able to pay it off on an average wage. She eventually saw how you use the bank's money to make money (in a nut shell).
Now she loves the idea that work will be optional in the future.

 

Paint goes on quick compared to the prep work. I got sick of prepping I stopped taping up arcs and skirting. You eventually get a steady brush stroke.

 

polish the floorboards instead next time That only leave, patching holes and washing walls

 

Not first IP but first buy by myself without BA. It's like the first IP for me

Excuses: finance not ready, need to research more
Real reason: Scared out of my mind of making mistakes

 

Haha. That was what happened to me. A steady brush stroke, and a blind eye to tiny oops

 

I just told my wife that I am going to buy her a house so she has assets to live off in the future. Sealed the deal within seconds. OK, a few more days required.

 

I'm a mixture of this and the below:

Just trying to learn more by lurking in SS/PC forums

 

We out source some and do what we can ourselves without completely neglecting the kids! This current one has a budget of $20k, and we did the demolition ourselves (ripping up carpet, tiles etc) and will do some of the painting and other bits and pieces. Hubby has a week off work to help.
We're not replacing kitchen or bathroom in this one, just tarting up. New laundry though, paint, carpet blinds and lighting throughout.

 

Look, I've made more mistakes than prolly everyone here, and still alive to tell the story, and still punching.

Please; do a bit of DD and then buy - trust your judgement and buy.

As long as you have done your numbers and are comfortable with being able to hold the investment, there's not too much to worry about.

I know folks who blow $200 per week between hubby and missus, on ciggies and pizz, and there's no return on that.

Think of the what you will achieve; not what you might lose.

 

I agree with @Bayview There's a danger with analysis paralysis.

 

Yeah trying to work through that at the moment... doing some calculations on turning our current PPOR into an IP, and either buying or renting in a (fairly specific) area that ticks a few more boxes for the family.

Yeah... too many variables and/or choices can be overwhelming. I guess good analysis also involves knowing what things need to be taken into account, and when to make reasonable assumptions / leave things out of the equation.

 

Wife says "after the next one that should be enough for a while shouldn't it?"..me "ahhhhh.......yeah."
Why stop?

 

Not much, actually. I bought my first property - my PPOR - a few months ago so I want to build more equity and a bigger cash buffer before getting my first IP. This will occupy me until end of next year. In the meantime, I'm educating myself by doing things like reading Jan Somers book; learning more about investment loans; understanding what makes a particular IP a "good" investment and how to do the sums to test that; what to budget for, etc.

 

Waiting for my off the plan property to complete. I purchased it Nov 2013 which was my 1st investment property purchase.
Since making that purchase I now understand that buying off the plan is not really the smartest thing to do as there are many risks involved (although this purchase will work out well in my favor with good capital gain once completed but I was just lucky with the timing).
It is due for completion end of this year but cannot risk not being able to get finance for it, especially with the APRA pressure. Another factor is I have purchased 3 other IP's since the OTP.
It is very frustrating though as I do have equity released ready to go again but cant risk it.
I will be ready to shop again early next year, which gives me time to research my next location.

 

Addicted to travel. Not stopping me, it is just slowing me down.

Hope to find and secure my next IP in the next few months. Then will need a break for some travel before buying IPs can start again from May next year.

7 weeks of hiking already booked. 3 to 4 weeks at Christmas. 3 to 4 weeks in March/April. Was out at dinner with friends tonight and now tossing up taking another week off in November for another hike.

 

common sense.

 

Street Smarts

 

1) Drop in salary due to wife not working. Will improve eventually
2) Time poor currently, due to kids, study & work. I would love purchase a place in which I can do a cosmetic renovation, but wont have time. Will find something eventually after point 1 improves outside Sydney
3) Scared to purchase interstate. I am excited at the same time so it is just a matter of convincing myself and wife to do it when we are ready.

 

lacking the confidence and insight on where to buy