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Discussion in 'Introductions' started by Fran, 6th Aug, 2007.

  1. Fran

    Fran Member

    Joined:
    6th Aug, 2007
    Posts:
    5
    Location:
    Sydney, NSW
    [/SIZE]Hi, I am wanting to learn more about investing in both property and shares. I have had an investment property at Banora Point (tweed heads) since 2000 and i am keen to have more sooner rather then later.

    I have my own business, I am a Conveyancer located in north west Sydney and single mum of 2.

    I look forward to learning and hearing your stories.:)

    Regards,
    Fran

    [/SIZE][/FONT]
     
  2. Rod_WA

    Rod_WA Well-Known Member

    Joined:
    18th May, 2007
    Posts:
    324
    Location:
    Inglewood, WA
    Good on you Fran, welcome aboard.
     
  3. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Hi Fran and welcome.

    We'd love to hear your stories re conveyancing. Perhaps you could list out the steps involved for those who haven't bought in NSW and point out the tips and traps for young players?

    Also, how has Banora point performed? I imagine you may have accumulated some nice equity in that property over the last 7 years.

    Cheers
    N
     
  4. NickM

    NickM Co-founder Staff Member

    Joined:
    20th Jun, 2005
    Posts:
    321
    Location:
    Sydney
    Hi Fran
    look forward to your contributions.
    Cheers
    Nick
     
  5. Fran

    Fran Member

    Joined:
    6th Aug, 2007
    Posts:
    5
    Location:
    Sydney, NSW
    Hi again,
    Spare time has been scarce so i havent posted a reply.
    Mum and I purchased the IP at Banora point in 2000 for $110K and recently valued at $220K. current rent is $220 p/w. So we have done quiet well with this. We were originally going to buy a studio appartment at Broadway/Ultimo but decided on the Banora Point property as it was our first IP together and was cheaper then the Broadway one.

    I will post some tips and traps of buying in NSW but to start with the basics get a pre approval - people who look for property who dont know how much they can borrow may get there hopes up and hearts broken if they cant afford the loan so always have a pre- approval. Pest and building reports a MUST if you are not a qualified builder. why spend all those hundreds of thousands of dollars on a house and not spend $500 on the reports?? People hesitate to spend the money on the reports because of their cost. Buying for land value only (the house is going to be demolished) is excluded!

    Some more tips to come shortly.
     
  6. meakinmaster

    meakinmaster Member

    Joined:
    24th Sep, 2007
    Posts:
    8
    Location:
    Perth WA
    Hi Fran,
    a good website to check out is
    Property Investment | PropertyInvesting.com you may know about it already but its a great site to learn more about property investing! check it out,

    me too, am trying to learn as much I can, theres so much to learn,

    have a good one,
    Jase


     
  7. MattR

    MattR Well-Known Member

    Joined:
    23rd May, 2007
    Posts:
    229
    Location:
    Sydney
    G'day Fran

    Glad to see you aboard.

    Cheers

    MattR
     
  8. JudgeDreadz

    JudgeDreadz Well-Known Member

    Joined:
    25th Mar, 2009
    Posts:
    109
    Location:
    Sydney
    Hi Fran - you still there? I would love to here those tips =)

    better late than never right?