Question for novice?

Discussion in 'Property Investment - Other' started by Paddyinoz, 30th Apr, 2008.

  1. Paddyinoz

    Paddyinoz Member

    Joined:
    22nd Jul, 2007
    Messages:
    11
    Location:
    Gold Coast
    Hi everybody. I just have a question about what we should do as regards our investments over the rest of 2008. My partner and I have had our house for 6 months now and we are doing what normal first home owners do just pay off their loan and work away from week to week.
    My question is should we buy another one. Our income is combineed at about $2400 per week after tax man had raped us, and our home loan repayments are $600 per week. We have very few debt apart from a car loan which equates to 250 dollars per month. Our cost of living aint that high. We got about 50000 in equity. We live in south east queensland.
    Should we invest giving the current credit crisis? Should we just save our money and wait a year or two till interest rates come down?Should we invest in shares? Anyone who is more experienced in money and investments, their comments would be most appreciated.
     
  2. ggumpshots

    ggumpshots Member

    Joined:
    13th May, 2004
    Messages:
    795
    Location:
    Japan
    If you have to ask,
    should you invest in shares,
    then you defintely shouldnt invest in shares.

    Once you have enough knowledghe to invest in the asx you wont need to ask,when to invest

    If you proceed to put money in the share market it wont be an investment it will be a punt.
    Now is a great time to buy , but you really need to select carefully.There is stil more downside to the market than upside.Volatility is still quite high in some sectors.

    Wher would you buy a property and what are market condtions there. How confident are you of your research .
     
  3. stumunro

    stumunro PCA

    Joined:
    5th Nov, 2007
    Messages:
    1,048
    Location:
    Sydney, NSW
    paddy, it depends on your strategy as an investor. Are you prepared to hold long term? Most of the people here on ss are accumulators, tending to buy when they can afford to and consistently. Without knowing exactly when the markets will be moving again, the question is are you prepared to wait until the next boom is happening? Or..would you rather accumulate in anticipation of it.

    If the question was asked to me, and I had the wage, and the savings for proof of my capability to invest; 2008 presents to be some of the biggest oppurtunities ive seen in a while. In down trending markets, today was cheaper then last month, and next month may be cheaper again, but in 15 years from now the difference in prices are negligible. Now is the time to be a bit jewish so to speak and demand discounts in all 3 major cities of sydney, melb and brisbane, because there are some very distressed and anxious sellers out there and plenty of oppurtunity to find something special