IPs and travelling

Hi all,

I want to badly go overseas to my home country very soon, but I also want to buy an IP this year.

How has buying IPs affected your ability to travel and generall enjoy your life?

Anyone got any pointers on how to have one with the other?

I checked the return flights and Im looking at anywhere between $2500-$5000.
So it aint cheap at all.

If I dont go overseas within 2 years, Ill go crazy.

Cheers!
 
Hi all,

I want to badly go overseas to my home country very soon, but I also want to buy an IP this year.

Look for something close to CF+ that will take care of itself while your OS - factor in quite a few more interest rate rises to cover you while you're away. Find decent tenants and tell the PM to email you if any dramas (oh, and to up the rent every 6 months :)

Alternatively, if you can't have both, decide which you want more - OS or IP.

Cheers,

Jamie
 
I bought my first IP in 2005 for 361k, then spent 2006 travelling interstate and overseas. On my return at the end of 2006 this property was valued at 500k by the bank! I leveraged off this to buy my next 4 properties (so no cash savings needed for this, just an income to service the loans). Have continued to travel during this time.

So travelling didn't get in the way at all for me, but I did have enough cash to fund holding costs for a year in 2006, and worked casually during that year off to help do this.

Just make it happen!
 
What exactly are your concerns. Maintaining an existing portfolio remotely isn't very hard if you've got access to email and a phone.

Property managers can easily email you. International phone calls aren't as expensive as you think, especially if you use Skype.

Internet banking can be done from anywhere, transferring money internationally isn't that hard, you just need to be a little organized.

Purchasing property from overseas can be a little tricky, but it's do-able. It's probably best to make sure you've got bit extra time (no 30 day settlements, 90 days isn't a problem).
 
Invest:
Hi all,

I want to badly go overseas to my home country very soon, but I also want to buy an IP this year.

How has buying IPs affected your ability to travel and generall enjoy your life?

Anyone got any pointers on how to have one with the other?

I checked the return flights and Im looking at anywhere between $2500-$5000.
So it aint cheap at all.

If I dont go overseas within 2 years, Ill go crazy.

I felt the same way.

There was never going to be anything that stopped me from heading overseas, it was a dream, planned, passion and huge desire...you have some wonderful choices.

What I know realise is I could have had an IP under the belt before I left, but hindsight's a wonderful thing. Saving $$ has never been a difficult thing for me, and I would not trade the o/s travel, experiences/people I met.

Even with a swag of IP's we have now, it doesn't prevent us from doing or enjoying anything we want, we supplement our income with other income streams.

Phone/cyberspace is/are the link(s) to real estate/mortgage brokers/property managers, even though I am building at the moment I don't "need" to be there, looking, it will all go on with or without me, I choose to visit it all, I enjoy it. But I could be in Ireland for all they care.:p

Travelling o/s was really "something" for me, seeing where my heritage orginated, being involved in other cultures, my work and fun there...the whole "thing"...it was a no brainer for me at the time. I was still saving money anyway, obviosly not as much as if I hadn't travelled, but life is very short.

No regrets.

Have fun, whatever you decide.
 
Well i only want to go overseas for 1 month tops as Im afraid my day job will go if I take anymore than that... I need to wait to accumulate my annual leave or perhaps even take some unpaid leave.

I can leave 4 people renting my current PPOR, buy IP and place 2-3 people there, so in theory the properties are paying for themselves unles interest rates go through the roof this year, but then I can raise rents.

I would just need to make sure that no one leaves in one month which is highly unlikely.

And yes I would need to leave some money for the loan repayments and make sure it keeps coming in.
 
Hi all,

I want to badly go overseas to my home country very soon, but I also want to buy an IP this year.

Cheers!

You can do both and especially now when properties are +ve geared or don't cost much to hold.
Where are you going?
 
Invest:

I felt the same way.

There was never going to be anything that stopped me from heading overseas, it was a dream, planned, passion and huge desire...you have some wonderful choices.

What I know realise is I could have had an IP under the belt before I left, but hindsight's a wonderful thing. Saving $$ has never been a difficult thing for me, and I would not trade the o/s travel, experiences/people I met.

Even with a swag of IP's we have now, it doesn't prevent us from doing or enjoying anything we want, we supplement our income with other income streams.

Phone/cyberspace is/are the link(s) to real estate/mortgage brokers/property managers, even though I am building at the moment I don't "need" to be there, looking, it will all go on with or without me, I choose to visit it all, I enjoy it. But I could be in Ireland for all they care.:p

Travelling o/s was really "something" for me, seeing where my heritage orginated, being involved in other cultures, my work and fun there...the whole "thing"...it was a no brainer for me at the time. I was still saving money anyway, obviosly not as much as if I hadn't travelled, but life is very short.

No regrets.

Have fun, whatever you decide.
Thank you for an inspiring post!
Its got me thinking!

Ideally I would buy an IP March-April this year, have all the tenants worked out and then go for 1 month overseas to Russia and spend it with my long lost friends who I havent seen for 17 years!!

The main question is, should I finance the trip with my savings or with equity??
 
It's really a matter of the state of your finances, doing your sums and how comfortable you feel about the two.

As an alternative can you go away sooner rather than later and then buy your IP. 2 to 5K and delaying buying an IP for several weeks or months is not such a huge deal in the bigger scheme of things.

You may then be better able to assess your job security and finances.
 
You can do both and especially now when properties are +ve geared or don't cost much to hold.
Where are you going?

Vladivostok, Russia. I was raised there till 12 years, thats when we moved to Australia.

I was born in Latvia but was too little to remember the place. I plan to visit Latvia later this decade. :)
 
Vladivostok, Russia. I was raised there till 12 years, thats when we moved to Australia.

I was born in Latvia but was too little to remember the place. I plan to visit Latvia later this decade. :)

always wanted to go to Latvia, I've heard women are amazingly beautiful ;)
 
I guess there are some choices to be made.

How badly do you want to go? What are you giving up by going? What if you delayed the trip? Can you afford to do both?

It's about decisions and priorities, but with some clever thinking and giving up other (less important) things, maybe you can do both.
 
Around the World trip

In 1998 I had my first deposit saved and decided 6 months around the world was a better option. I have never had any regrets. If anything, it has made me realise neg gearing is better than positive gearing in others around the world.

Let me know if you are after anymore tips Rob. I always say no-one should die before going to the Vatican, Venice or Eqypt.
 
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