Buy before you are 35

[Nimee]

According to this article published in The Age if you dont buy a house before you turns 35, chances are that you never will.

Does that mean that if you find tenants over 35 they will be there for life?

http://www.theage.com.au/articles/2003/08/08/1060145848030.html

 

[beech]

Show them the article and tell them to sign a LIFE lease.

as long as they behave and pay rent on time of course.

 

[ger]

could be right
I have tenants in one of my ip's
that are over 35 for the last 12 years
all the others shift after a few years

 

[D.T.]

Hi

Nimee: I think this is because of spending habits. If you havent lost the vending machine / new car habit by 35 you'll probably never will, and this restricts ones ability to get a deposit.

Beech: "Here ya go. Heres your 50 year lease that contains details of an increase in rent of 3% per year"

Ger: That sounds great, have ya kept the rent up in pace with the market?

-Regards

Dave

 

[geoffw]

We only bought our first ppor when we were 35.

 

[Kevmeister]

Got in by the skin of your teeth then, Geoff.

 

[Nimee]

Originally posted by geoffw
We only bought our first ppor when we were 35.

You just scraped in Geoff and so did I. I was 34 yrs 11 mth and 21 days old when I signed the contract for my PPOR.

Beech, good idea may be should give few hints to the PMs I use

D2k,shhhh about the vending machine habits

 

[geoffw]

Originally posted by Kevmeister
Got in by the skin of your teeth then, Geoff.

Actually no. Nimee's original post said "before" 35. So I just missed out by the SOMT

 

[Kevmeister]

He he - you're right. In computing terms I'd call that an off-by-one error. Doh!

 

[ger]

Ger: That sounds great, have ya kept the rent up in pace with the market

No
I can get 10-20% more rent
if I get new tenants BUT that includes loss of rent if property vacant PM letting fees
painting cleaning Etc

 

[jahn]

Geoffw
Getting a bit hard to talk on this subject (Must be due to false teeth.) 1st IP at 50
Ger. The way I read your post was that your tennants were over 35 for 12 years, and was wondering how they would change that
jahn

 

[gad]

PPOR at 42
IP 1 at 45
IP 2 at 46
I'm now 47 & looking at shares at/for the moment

 

[AndrewG]

Buying before 35

I must have been lucky then??? I have 6 and I've just turned 32!

So if I can, others can too!! Get in there and purchase your first IP if you've not already done so, as then it becomes easier!

Andrew.

 

[Starting out]

buying before 35

Its all how you think i guess. Im 27 going onto number 4 next month and will own PPOR at age 29 and a half. Make the goals and your there.

 

[Lily House]

Hi Starting Out - I think you need to change your nickname.


Lily

 

[paul_s]

Re: buying before 35

Originally posted by Starting out
Its all how you think i guess. Im 27 going onto number 4 next month and will own PPOR at age 29 and a half. Make the goals and your there.

that sounds great achievement, how early did you start?

 

[Starting out]

Thanks Paul

Thanks Paul,
I purchased PPOR at age 25 with first home owners grant. My man proposed a year later which helped our strategy of buying IP''s. Started IP's this year 2003 (27) with finace (30) . Hence the name Starting Out Lily, as it is only a short time frame. Have been educating myself for about a year before purchasing.
Regards
Starting Out

 

[brains]

I think the statement below depends on how much disposable income one has. If theres enough you can buy what you want any time you want so you cant generalise.

Originally posted by dtraeger2k


Hi

Nimee: I think this is because of spending habits. If you havent lost the vending machine / new car habit by 35 you'll probably never will, and this restricts ones ability to get a deposit.

Beech: "Here ya go. Heres your 50 year lease that contains details of an increase in rent of 3% per year"

Ger: That sounds great, have ya kept the rent up in pace with the market?

-Regards

Dave