Dear SS, Hallo.
I have been lurking for a while. I would like to say guten tag and ask a few questions.
The journey is just beginning for me and ze partner. We are mid 20's, and have half deposit saved for our first home. By the end of ze year, ve should be able to afford this first PPOR. We have both recently learned to stop spending on the crap that keeps other menschen pleite.
Mein questions are more "What would/do you do". So here we go.
1: First step on the equity journey.
We looked at building our first home in vic, but the H&L packages were crap, and for our price range we could get a decent immobilien - which matters to us. I believe that this rules out the fast equity rise that people see when they build (sometimes). Which in turn rules out the leverage that can be unlocked by the equity to use to get our first IP. Meaning that we would need to increase equity by renovating/gardening/something else in order to leverage it that way. Does anyone have any thoughts/experience with this?
2: Record keeping.
What/how do you record financially? We don't have an IP/PPOR yet, but just for good habits I'd like to begin recording things that will matter when tax gets more complex. What do you record, and what systems do you use (excel?). Also, what do you get receipts for?
Thats it for now. Will probably add some more later.
Regards,
Somerloft.
I have been lurking for a while. I would like to say guten tag and ask a few questions.
The journey is just beginning for me and ze partner. We are mid 20's, and have half deposit saved for our first home. By the end of ze year, ve should be able to afford this first PPOR. We have both recently learned to stop spending on the crap that keeps other menschen pleite.
Mein questions are more "What would/do you do". So here we go.
1: First step on the equity journey.
We looked at building our first home in vic, but the H&L packages were crap, and for our price range we could get a decent immobilien - which matters to us. I believe that this rules out the fast equity rise that people see when they build (sometimes). Which in turn rules out the leverage that can be unlocked by the equity to use to get our first IP. Meaning that we would need to increase equity by renovating/gardening/something else in order to leverage it that way. Does anyone have any thoughts/experience with this?
2: Record keeping.
What/how do you record financially? We don't have an IP/PPOR yet, but just for good habits I'd like to begin recording things that will matter when tax gets more complex. What do you record, and what systems do you use (excel?). Also, what do you get receipts for?
Thats it for now. Will probably add some more later.
Regards,
Somerloft.