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Discussion in 'Introductions' started by tribulation, 22nd Nov, 2010.

  1. tribulation

    tribulation New Member

    Joined:
    22nd Nov, 2010
    Posts:
    4
    Location:
    Sydney, NSW
    Hi Everyone

    Late starter to investing and new at posting threads.
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Welcome to the forum.
    What work do you do and what are your interests?
    I work in Engineering and I'm mostly interested in property

    cheers
     
  3. tribulation

    tribulation New Member

    Joined:
    22nd Nov, 2010
    Posts:
    4
    Location:
    Sydney, NSW
    Hi Bill

    Work in the welfare sector. Always looking at real estate and hoping to make a start in the new year. I want to be able to retire comfortably.

    Lee
     
  4. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Lee

    Usually the earlier ones starts investing the more comfortable he/she will be at retirement.
    I say usually because timing helps and next year might or might not be the best time to get in. (It depends on your financial position and the particular market you wish to enter).

    Personaly, I'm buying property when I can.
    For example,
    I bought in 2004 at the peak of the market,
    I bought in 2007 when interest rates were high & demand low,
    I bought in 2008 and 2009 when the markets were turning +ve.
    I tried to buy recently but didn't succeed.
    I'll buy again in 2011.

    Interest rates are my concern for next year because as interest rates go up my borrowing capacity reduces.
    Some people wait for the property markets to stabilise only to find out that they no longer have the ability to get a loan.

    With property the best time to get in is when you can get a loan. Time fixes up any mistakes.
    cheers