New to property, looking to learn as much as I can.

Serious talk: Can you start a thread on this? I'm interested to read more about how you do it.

No penis jokes or meme's I promise.

 

Thorm. Trust your gut instinct.

Everyone has an opinion.....those you like or not.

At the end of the day, you can only do so much research. As long as you know what your options are, the best you can do going forward is to make the best educated guess that you can. Noone can guide you or hold your hand or tell you what to do.

And be ok with whatever decision you make. If in hindsight, you realise you could have made a better decision......don't beat yourself up but learn from experience, and try again.

 

No point....some nuffy broker will tell me it can't be done as they get no commission....the methods are very unorthodox...it has worked to date for me. I have mostly gone directly with banks or products funded by banks ..err to get around APRA rules lets....

I am sure no want to hear this...as there are plenty of brokers people use here...

As for appendage jokes....Rich101 has a psychological issue around it....

 

Your choice if you want to share or not but I can't see why the brokers would have a problem with it.
Not like everyone is going to dump their brokers all of a sudden and deal directly with the banks.

I've only had a few interactions directly with the banks over the years but they were all quick conversations pretty much ending with "sorry mate, can't help ya" I would have bugger all if I dealt directly with the banks.

 

OK .....will start a thread....

 

Commercial loans to buy resi security?

 

If you had a good broker they'd find a resi product to suit, anyways.

 

No mate....one thing is that the banks have rebranded their products with other organisations. They are technically separate organisation. So from an APRA point of view they are separate entity....RAMS is one...not available through broker channels but backed by Westpac. Even the paperwork looks similar.

 

It's now 2 weeks. Any development?

 

Bought a couple of books (Margret Lomas and Micheal Yardney) for my commute reading. Spoke to an accountant last week, and today got in touch with a mortgage broker. Hope to have that meeting with them soon, work out some options.

thanks for the follow up

 

Margaret Lomas' books are a good place to start, pretty easy to read and a sensible no nonsense strategy.

 

You are not at all a late starter! Welcome to a fantastic forum

 

My Case is similar to yours mate, early thirties, son, no mortgage though but support from an experienced investor to guide me through my first investment property. Man, i am grateful and still reading articles and magazines to increase my knowledge though but i think that will continue all along my life.

 

I started at 50 (seriously buying). I did have one negatively geared IP with no equity before that (then I found Somersoft and saw the error of my ways). Don't panic!

 

Welcome @Thorm

You know you're Equity Position and where you want to buy. That's a good start. A Broker will let you know your Borrowing Capacity. Many will back me when I say skip the Financial Planner bit as you already know what and generally where you want to buy. Broker, Accountant, Solicitor. That's a basic team, depending on whether you buy new or established. My Four Year Old The Property Investor will push you towards New Builds, there is a waiting period on this though. With established it's Buy, Settle, Rented.

 

if I'm cranky I use the jfgi version

Cheers,
Inertia.

 

Thanks.

Broker is set. Accountant seems set. Solicitor, have seen some recommendations from the forum. So will just go with the recommendation when we are closer to finding a property.
Read rules of property by Michael Yardney and a couple of Margret Lomas books. I have to say i prefer the Lomas books so far, but both have great info.

The search is QLD is happening. Several logan suburbs. Areas like Springfield and surrounding suburbs and north in Bracken Ridge, bald hills and further north in suburbs surrounding north lakes.
Wife was in Brisbane recently for a personal trip and saw a house in Woodridge while she was there. Really turned her off the whole area, which is something we need to work through

 

@Thorm personally, I would add some negotiation books onto my list.

 

Hehe, I haven't actually seen that one before.

 

I actually saw a thread you made and picked up Secrets of Power Negotiating audiobook a little while ago. Havent got round to listening past the first chapter though. Pretty cool.