first investment step



From: Russ K

Hi guys,

love the forum. Finally some comments and reading material from people who seem to know what they're talking about.

I'm ready to take my first step and invest in property. I am considering the idea of buying a small block in a large country town and having a builder put two units/townhouses on it for me.

Then maybe I'll sell them both or just one or I might even keep them both? My question is, am I being a bit ambitious, should I start by buying a single unit off the plan first?

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Reply: 1
From: Jakk Bass - The SLUM LORD

Right on Russell,

Just go for it, forget the overheated city markets and go to where you can afford.
Do your homework that there exists a rental demand, and do your sums and if you feel comfortable with the outcome/return, then "Just Do It"
Capital Gain might not be great, but if you structure the deal right, you should be able to get positive cashflow and therefore not have to keep digging into your pocket.
There is a book written which I once read called "Making it big with little deals" or something like that and it had a lot on country town deals.
I haven't got a copy any more and I forgot who wrote it, but you may be able to chase it up for an interesting read.
That's my 2.2 cents worth (GST included)

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Reply: 1.1
From: Nigel W

Please post the details if you track it down. I'd also like to try to find a copy.

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Reply: 1.1.1
From: Jakk Bass - The SLUM LORD


The name of the author John Schaub

found his website:

seems he has turned his book into a 3 day seminar nowadays.
There is a heap of links on the site and I didn't check them all to see if the book is still available.
Have a bo peep yourselves if interested and see if you have any luck.

*An economist is a person that marries Elle MacPherson for her money.*

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