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From: Mike .
Our first investment property
From: Marc
Date: 1/28/00
Time: 6:41:40 PM
For the last hour I have read everybody's various commentaries and have found the forum and discussion to be very interesting. My wife and I are contemplating purchasing an investment property. We have both studied the readings and preachings of Robert Kiyosaki and have most recently read 2 of Jan's books.
We are quite accustomed to risk, provided it is managed and have within our investments a geared blue chip share portfolio and geared managed funds. We reside in Sydney and owe about $250k on a $450k family home. Our share portfolio has managed to contribute to our high stress levels and it is our opinion that we could do better with investment property.
We both currently earn six figure salaries, however we will be limited to one income come May 2000 as we are expecting our first child. Given our current mortgage payments, contribution to managed funds, loss of one income and child we do not think we will have much left over. We are hoping to secure an investment property that will require the minimum level of equity ie 10% or 20% and be almost cash flow neutral/positive (before negative gearing.)
Does anybody think it is possible to find something like this in Sydney or should we look at another state. We could however sustain a short term negative cashflow. We are looking at purchasing a property of about $150k to $200k. My calculations lead us to believe that we would need a 8 or 9% gross return to achieve this. Looking forward to your replies. Marc
Our first investment property
From: Marc
Date: 1/28/00
Time: 6:41:40 PM
For the last hour I have read everybody's various commentaries and have found the forum and discussion to be very interesting. My wife and I are contemplating purchasing an investment property. We have both studied the readings and preachings of Robert Kiyosaki and have most recently read 2 of Jan's books.
We are quite accustomed to risk, provided it is managed and have within our investments a geared blue chip share portfolio and geared managed funds. We reside in Sydney and owe about $250k on a $450k family home. Our share portfolio has managed to contribute to our high stress levels and it is our opinion that we could do better with investment property.
We both currently earn six figure salaries, however we will be limited to one income come May 2000 as we are expecting our first child. Given our current mortgage payments, contribution to managed funds, loss of one income and child we do not think we will have much left over. We are hoping to secure an investment property that will require the minimum level of equity ie 10% or 20% and be almost cash flow neutral/positive (before negative gearing.)
Does anybody think it is possible to find something like this in Sydney or should we look at another state. We could however sustain a short term negative cashflow. We are looking at purchasing a property of about $150k to $200k. My calculations lead us to believe that we would need a 8 or 9% gross return to achieve this. Looking forward to your replies. Marc
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