advice/direction needed

[ZEUSvsHADES]

Hey all

i need some advice/direction from some smart people, i want some goals other than just buy buy buy. i want to know where i will be in the future, good moves to make and things along those lines...

firstly im 22, bought my first house in frankston north at 18, this year i have bought my second(carrum downs) and third (frankston north)

anyway, not very sure where to go from here, i cant really afford another property for about another year as im only on 60k(single income) living with my partner and my son in a rental so the budget is pretty stretched already


hoping somebody might have some tricks up their sleeve or some advice, cheers

 

[Aaron_C]

Be patient..let your cashflow pick up then you can do other things.

 

[Investor78]

Mate you sound like you're in a great position for your age, well done.

I agree with Aaron, there's no need to rush into any more for now.

Are your properties negatively geared?

 

[ZEUSvsHADES]

thanks, all yeh cf-

i have been doing alot of reading on here, there is so much good info

 

[lmo]

Wow! Quite impressive - I'm 25 and have just bought my first property in Frankston as an investment. How are you managing to fund 3 on a single 60K income?

I want to grow my property folio, but need the cash flow like you so was thinking of developing and subdividing my property. I found a company, Property Subdivision, and they have explained the whole process to me in quite a lot of detail. i'm about to start with them, but would love thoughts from you if this is a good idea? i think this might help me increase my cash flow to fund further projects.

 

[josko]

Hey all

i need some advice/direction from some smart people, i want some goals
firstly im 22, bought my first house in frankston north at 18, this year i have bought my second(carrum downs) and third (frankston north)

anyway, not very sure where to go from here, ...... cheers

1. Away from Frankston. Too many eggs in one basket, you need to diversify.

2. Settle down and get used to managing your properties.

3. Keep your eyes on the Global Economy as well as our own and soak it up. You are in a great position to learn how recessions and global downturns affect you financially and affect what is going on around you. Watch Interest rates and learn to understand how and why they go up and down...REALLY understand.(Assuming you don't already..apologies.



Regards JO

 

[ZEUSvsHADES]

lmo, it wasnt easy, but im a very good saver which helps

unfortunately i cant offer any advice on the development front as yet because i havnt done it nor looked into it as yet

if you need help with finance i do know a few tricks, probably nothing more than most here though.....

JO i had no intention to be laying all my eggs in the one spot, its just the way things have panned out. i do intend on buying the house between my properties in frankston north reguardless though.

im not expecting to be making any moves just yet, probably wait a year then see where im at

i have a fair idea on why interest rates go up and down, and i have a very large buffer to get me through tough times. plus i work for a large company with a few big contracts to keep us going for a couple of years so i dont expect my income to be an issue

thankyou