New to the game

Hi all,

My partner and i have been interested in property investment for a few years now and have finally decided to go from dipping the big toe in the water to diving straight in or pushed rather (you'll understand below :eek:)... just to give you all a little story of our background

We currently own (well the bank does) a property in Seville Grove WA which we built in 2007. After making about 90k equity we made some decisions of the heart and brought a new car, a very nice holiday and completed the property with full landscaping etc which chewed our equity away, hindsight is always 20/20, to think that money could have financed another IP or 2!!

Recently my grandfather passed away leaving his large family home in Maylands to my father who has graciously allowed us to stay there rent free for a few years therefore allowing us to rent out our property in Seville Grove and putting all our efforts into generating some equity in which will now be our first IP. We will also be using the rent from the IP to further our share investment portfolio, whilst maintaining our current payments as if we still lived in the Seville Grove property whilst making extra repayments to the maximum of 10k a year (another silly mistake locking in a home loan for 5 years at 8.5%)

The intention with the Maylands property is to subdivide and build 4 townhouses, using a FT to distribute it evenly between my siblings whilst selling one to pay down the initial investment.

We have read all the recent posts regarding HDT's and DT's and the only thing i got from it all was a throbbing headache (which by the sounds of it most of the people who had HDT's got as well).

Our objective is to obtain 15 IP's over the next 10 years whilst maintaining a healthy share portfolio. The end result being a passive income to replace our current income.

At this stage we are still new to the game and looking at setting up our "team"

We are interested to know what kind of vehicle people intend to use for their IP's and shares now that HDT's have lost their appeal?

Also does anyone know of any good IP accountants in Perth our last one decided that charging $250 for a 5 line email was approriate.

We would like to thank everyone for the valuable information we have been priveleged to read thus far and hope to become a part of this community of smart investors.
 
i think you are well on your way , to learning the art of welth creation, buy some australial property investor mags, submerge yourself in it and the world WILL be your oyster, look listen you will learn so much, and welcome, :D
 
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