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Hello for Brisbane

Discussion in 'Introductions' started by Kylie, 26th May, 2008.

  1. Kylie

    Kylie New Member

    Joined:
    23rd May, 2008
    Posts:
    4
    Hi, I am new to InvestEd and I thoght I would say hello. We are just starting our investment portfolio - looking at different properties and options avaliable - any advice will be greatly appreciated. I am also looking at buying "Mortgage Watchdog" to check our current mortgage for any errors (any advice here would also be greatly appreciated).

    There is so much information out there and most of it so confusing :confused:

    Cheers
    Kylie
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Hi Kylie

    Welcome to InvestEd. Don't be concerned about all the wierd and wonderful options available to you in investing in property and other asset classes.

    Remember the KISS principle. Find an average home on a large block of land in as good an area as you can afford, close to transport, schools and shops and buy it with as much of the bank's money as you can safely service in a rising interest rate environment.


    Stir and repeat...

    If you want to mix it up a bit add in some blue chip shares, maybe a managed fund or two...renovate your properties when needed...

    And keep learning and reading but don't feel you need to do anything more complex than buy and hold.

    There are some good books around on property investing. Jan Sommers has written several (More Wealth from Investment Property is her most recent).

    Cheers
    N.
     
  3. Mark Laszczuk

    Mark Laszczuk Well-Known Member

    Joined:
    16th Aug, 2005
    Posts:
    793
    Location:
    Brisbane
    Hi Kylie,

    Do a search on Somersoft re: Mortgage Watchdog. The concensus is that it's not worth the money. You can pretty quickly and easily find out yourself if you are paying too much on your mortgage doing the calculations on your own.

    Mark
     
  4. Kylie

    Kylie New Member

    Joined:
    23rd May, 2008
    Posts:
    4
    Thanks so much for welcoming me and the advice. It is a big jump to make, but I know it will be easier once we have made that first tentative step... the world is our oyster... We will find the hidden pearl...
     
  5. Young Gun

    Young Gun Guest

    I agree with Nigel, but I'd do his recommendations in reverse first the managed funds and bluechips then if you must an investment property.

    Some people like drug labs in their IPs, large financial commitments, tennants that don't pay rent and properties that need constant maintenance. I just like franked dividends......

    speak to a mortgage broker about your debt. Some can be sharks, but on a whole that can tell you if your paying too much. (and they'll gladly rewrite your loan for the commission!)

    if you live in SA I can point in the direction of a few good ones.
     
  6. Young Gun

    Young Gun Guest

    I'd should pay attention to the subject lines you obviously live in Brisbane not SA! lol