Hello all,
I've look around this forum at the wonderful advice. It's made me hungry, and helped me decide I can no longer be a lazy investor. I just didn't want my money 'tied down'.
I have 200k, in a garden variety high interest safe bank account and ad to it. It of course is being eroded faster then a levee in hurricane Katerina, by tax and inflation.
My situation is that I earn just shy of 100k, have no dependents nor even rent to pay, at the moment. I'm in a fly in, fly out job within the mining boom industry, doing seismic work over shallow waters, looking for the black gold. It's 6 weeks on, 3 weeks off...only giving me a window of time, less then 3 weeks to search, sign and complete the deal. Also property management would be impossible. Since it's an international company, there's a good chance I'll be on their projects overseas, soon. Having even less time in Australia.
I realise that most here, would do research and put in the time to find something worth while to speculate on. I'll probably have to pay for a property broker to find places for me, and pay an agent to property manage. Would you continue to invest in IP's if you couldn't do the time to research, look at the house, make on location decisions to attract renters and hope it's rented out? Would all the extra fees and lack of control make it worth while?
I've look around this forum at the wonderful advice. It's made me hungry, and helped me decide I can no longer be a lazy investor. I just didn't want my money 'tied down'.
I have 200k, in a garden variety high interest safe bank account and ad to it. It of course is being eroded faster then a levee in hurricane Katerina, by tax and inflation.
My situation is that I earn just shy of 100k, have no dependents nor even rent to pay, at the moment. I'm in a fly in, fly out job within the mining boom industry, doing seismic work over shallow waters, looking for the black gold. It's 6 weeks on, 3 weeks off...only giving me a window of time, less then 3 weeks to search, sign and complete the deal. Also property management would be impossible. Since it's an international company, there's a good chance I'll be on their projects overseas, soon. Having even less time in Australia.
I realise that most here, would do research and put in the time to find something worth while to speculate on. I'll probably have to pay for a property broker to find places for me, and pay an agent to property manage. Would you continue to invest in IP's if you couldn't do the time to research, look at the house, make on location decisions to attract renters and hope it's rented out? Would all the extra fees and lack of control make it worth while?