I believe for every hard yard year you put in at the beginning you will reap tenfold in the future.
Thumbs and toes up to that!
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I believe for every hard yard year you put in at the beginning you will reap tenfold in the future.
You...draw roofs? As in using CAD (or AutoCAD..whatever the designer-builders version of Photoshop is)? Are you an architect?I draw all the roofs for our company instead of them outsourcing it at 80c per m2. Boss pays me the same rate, and in return I try do a better job and return it a lot faster than the normal 10 business day lead time (one drawn every weekend).
haha safe to say people won't be jumping on my financial advice in a hurry.
I hate Hawthorn
Hi there!
I really love this forum
Such a pleasure to read everyone's posts.
I wonder if anyone can give me any ideas how to invest ASAP?!
I have about 3k saved up and earn about 50k though it will hopefully go up to 70k in Nov.
I've been thinking of buying an apartment in the city with 2 bedrooms, living in one and renting out the other, and putting it all under an IO loan for servicability.
Or alternatively to continue renting and buy and rent out an IP with IO loan.
Can I get a loan with only 5% deposit as I don't want to save for the next year to finally get started.
What is the best and fastest way for me to go about things to acquire an IP?
Thanks!
Bret
I wouldn't take any advice from someone with such poor judgement as to hate Hawks... what is there to hate? We're a happy team!
Where are you living now? presumably at home with this folks?
Why dont you plan on continuing with your current living arrangements and buy a rental? You can move into the property for the first 3months, then rent it out. Thus claiming it as your ppor for 3months, and recieving the tax concessions (CGT) and FHOG (does that still exist?).
If you are tracking your expenses post it up here, and let us cut them down.
I whole heartedly agree with DaveM. Focus on earning more. The majority of people on here would have taken a second (or third) job when starting out. This could be an extra couple of hundred a week which goes straight into your saving acct.
What existing debts have you got? CC, store card? car loan? etc?
The more info you provide the more we can review and critique. Just be prepared for the onslaught
Blacky
Good on you Bret for coming back and reporting in.
Your budget is somewhat extravagant but it's up to you if you want to cut back on it. As you've read and noted taking on extra work will allow you to get your deposit quicker.
Also if do the extra jobs/work in the evenings you have less time to go out to dinner etc so you naturally save.
If PT is your major bugbear have you considered cycling to work? Good exercise and cheap
Hey Bret,
Great work on tracking your budget. From an outsider looking in though:
I pay a housemate $40/week to shop and cook dinner for me!
Every fri I buy 2 of my house mates dinner for about $15 all up.
About $120 was for shouting meals/coffee/etc for friends.
If you were to continue this trend each month then annually this would cost you $4300. Now its very important to note that no one likes a tight @.. but it seems like you spend A LOT on your friends. Do they return this?
Given your current position then $4300 is a hell of a lot of money to be spending on friends a year.
Also I know this is a property forum but what is your gym goals? If you are skinny and trying to bulk up then you will need protein but if you goal is to get lean then you can totally drop the protein powder.
$40 a week for shopping and cooking is pretty good though right?!
I reckon I can bring that $120 down to half and then see if I can bring it down more.
I am trying to bulk up. I'm also finding going to the gym is helping me develop more confidence and mental health which surely will help investment goals, and perhaps reduce medical/health costs in future :*
Thanks
What about using my super to invest in property? I can invest in direct property with a SMSF, right?
Mikezen, Your plan inspired me to do an RSA course lol!
Hey Bret,
Great work on tracking your budget. From an outsider looking in though:
I pay a housemate $40/week to shop and cook dinner for me!
Every fri I buy 2 of my house mates dinner for about $15 all up.
About $120 was for shouting meals/coffee/etc for friends.
If you were to continue this trend each month then annually this would cost you $4300. Now its very important to note that no one likes a tight @.. but it seems like you spend A LOT on your friends. Do they return this?
Given your current position then $4300 is a hell of a lot of money to be spending on friends a year.
Also I know this is a property forum but what is your gym goals? If you are skinny and trying to bulk up then you will need protein but if you goal is to get lean then you can totally drop the protein powder.
You do need quite a bit of money in your Super to set up a SMSF but yes many people do it to buy property.