Hi All,
After reading lots of threads I can see there are a lot of very wise and seasoned investors and developers out there. Where better to get advice on where to begin?
Quick summary of me: early thirties, founded, grew and sold a large snack and drink vending machine business in Melbourne (sold it myself last june for a good profit) and have recently moved home to Adelaide and bought a PPOR. Have a background in Environmental Engineering (specifically contaminated land assessment & remediation so if anyone has questions about environmental due diligence I can probably help or at the very least point you in the right direction).
Have $140k in offset, ~ $250k equity in PPOR plus $170K mortgage. I'm not working, my fiancee works earning $80-90k gross (part time if you don't mind!). Planning a second kiddie for end of this year (better get to it soon).
So, my question is: what would you do if you were in my situation based on all you now know? Plenty of time, a bit of cash, limited cash flow, very green.
I have been interested in property for a long time and even did a three day property development course by Jim Castagnet around 18 months ago but not done anything about it due to business sale, moving interstate etc.
So far I have looked at renting by the room (to students), buying properties below market value and then renting them out (rick otten style minus the 'wrapping') and simple subdivision and on sell land.
I'm have a bit of a business mind though have plenty to learn.
Would greatly appreciate any advice anyone would be happy to give. Cheers
After reading lots of threads I can see there are a lot of very wise and seasoned investors and developers out there. Where better to get advice on where to begin?
Quick summary of me: early thirties, founded, grew and sold a large snack and drink vending machine business in Melbourne (sold it myself last june for a good profit) and have recently moved home to Adelaide and bought a PPOR. Have a background in Environmental Engineering (specifically contaminated land assessment & remediation so if anyone has questions about environmental due diligence I can probably help or at the very least point you in the right direction).
Have $140k in offset, ~ $250k equity in PPOR plus $170K mortgage. I'm not working, my fiancee works earning $80-90k gross (part time if you don't mind!). Planning a second kiddie for end of this year (better get to it soon).
So, my question is: what would you do if you were in my situation based on all you now know? Plenty of time, a bit of cash, limited cash flow, very green.
I have been interested in property for a long time and even did a three day property development course by Jim Castagnet around 18 months ago but not done anything about it due to business sale, moving interstate etc.
So far I have looked at renting by the room (to students), buying properties below market value and then renting them out (rick otten style minus the 'wrapping') and simple subdivision and on sell land.
I'm have a bit of a business mind though have plenty to learn.
Would greatly appreciate any advice anyone would be happy to give. Cheers
