Reply: 1.1.2.1.1.1
From: Frode Egeland
I agree that everyone must find what works for them.
I have read Jan's book (Investing through IP), and found it very informative.
If you make a lot of money,
AND find a property in an up-coming area (growth wise)
AND your job is secure
AND the government doesn't change the rules
AND you structure things right,
then by all means, go for it!
As someone who:
- has a reasonable (not fantastic) income,
- doesn't own any assets (yet) and
- doesn't believe in "lose a dollar to get 48.5 cents back",
what I feel is right for me, is positively geared properties where the tenant pays for it all.
Why subsidise the tenant to live in your house? To me, that doesn't make sense.
I will start with wraps, and use the cashflow to help finance rental properties.
If I can get 50 wraps and 50 rentals, all positively geared (before tax refunds),
then I'm on target for my goals..
Cheers,
Frode
CashflowSydney