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Nitro-nige has made a start

Discussion in 'General Investing Discussion' started by nitro-nige, 17th Mar, 2008.

  1. nitro-nige

    nitro-nige Well-Known Member

    Joined:
    8th Mar, 2007
    Posts:
    49
    Location:
    Reservoir, Melb
    Well my wife and I have made a start and purchased our first PPOR.
    We've been sitting back collecting our penny's for the deposit etc. I would have loved to have jumped on the share market about 12 months ago when we first made a serious effort about it. But we needed the liquidity of cash in the bank (high interest of course). Turns out that staying worked in our favour, had to be lucky for somebody I suppose. Otherwise we'd have to ride the cycle.

    So we've bought a 3 bedroom house 12Km from the CBD, close to zone 1 train and even closer to zone 1 tram. It's a 40ish year old house, one owner.
    We're going to do a few small renovation jobs, mainly painting & landscaping. Hopefully this will give it capital growth quicker than the market.
    Then the fun begins, using that equity to generate cashflow to A/ pay off the mortgage faster and B/ build up a portfolio of investments.

    Let the fun begin.

    Nige.
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    From one Nige to another - well done mate!

    Cheers
    N
     
  3. TryHard

    TryHard Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    863
    Congrats mate - nothing beats having your own place :)
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Well done, Nige! Buying your first home is a big step but it's the first of many important decisions and I'm sure you won't regret it. Now get out those tools and start renovating :D