Buying IPs after 50?

[yadeh]

Dear all

I need your advise in getting into poverty investment again. I had some IPs but I sold them a couple of years ago because of divorce settlement. Now, I have got up to 200k in the bank and I want to put it towards the deposit for buying new of IPs. Do you think it is too old for (52 years old) to get into IP marker again or not? I remember when I attended the IP meetings in Melbourne, the guys were very young. Any advice is appreciated.
Yadeh

 

[china]

Dear all

I need your advise in getting into poverty investment again. I had some IPs but I sold them a couple of years ago because of divorce settlement.
Yadeh

Is there much yield and gain to be made from poverty investments? If you are referring to sweat shops and other forms of cheap labour, I think you have to be some form of cosmetic or footwear multi-national to benefit from poverty investment. Or in this country, dabble in NRAS properties.

 

[Colin Rice]

If you tick the two major boxes when it comes to bank criteria you should be ok.

1. Security usually in the form of cash or equity or a combination of the two.

2. Serviceability usually in the form of a job or business income or a combination of the two.

Banks may want an exit strategy outlined due to your age but generally applies to over 55s.

I have clients that have started in their late 40s early 50s and are doing ok.

 

[danel]

Yadeh, you bring a great question!! I am 49, have a comfortable position, do I continue to buy more IPs , wait 5-10 years to make more profit, do the song and dance, make the kids more comfortable, or be satisfied, relax and don't be greedy?

 

[travelbug]

You're never too old. At 50 I had 1 IP. I decided I better go fast track as I didn't have much time and I did. My husband kept telling me I was going crazy but luckily he trusted me and kept signing all the contracts and loan documents I put in front of him.

I'll be 56 next month and I just went parttime at work and my hubby just retired.
Of course (as everyone keeps telling me) I'm "lucky" because I bought all my properties at the start of a boom.

 

[Peter_Tersteeg]

No real reason why you can't buy IPs at just about any age. Regardless of age you should have an exit strategy in mind. At 50+ this just means that the strategy needs to be considerate of a shorter time frame and can't be quite as open ended as someone who's 30.

 

[yadeh]

Thanks for the encouragement

Thanks guys
first of all sorry for the typo (poverty for property). It is again a sign of being over 50!
And thank for the encouraging words. I think as long as it is not for greed, I will be allright. I enjoy PI as a hobby and eventualy the CG will go towards retirement days if we life long or will to my daughter and my charities. I am planning to buy at least 3 IP s now and keep them till before turning 60 which br 8 years time.