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Thread: Advice please

  1. #1

    Cool Advice please

    I have had one rental (3 bedroom house) for a few years and now realise I can easily invest in more. I have been reading heaps on the Net - a great source of info, thanks to you all. I am currently looking at possibilities, and would like some advice. Is it better initially to buy say a block of 4 flats, or to mix things up a bit and say get a flat here and a house there? I'm thinking along the lines of not putting all eggs in one basket. If you were starting out, what would you do??

  2. #2
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
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    Default

    There are various schools of thought, & a lot depends on how far away from home you want to invest, the type of property you are comfortable with, the money you want to spend & the return you want.
    I personally think it is a good idea to mix it up a bit.
    Over the period of a few years I ended up with 3 apartments / townhouses in the same block- seemed like a good idea at the time, same body corp, same location, known building condition etc. problem is that now that block has now been found to be leaky, so I immediately end up with 3 times the hassle & cost.
    It also creates a problem for me borrowing more money, as the bank won't lend until the liability on the building is known.
    So your idea of not having all your eggs in one basket has good foundation.

  3. #3

    Default

    Thanks Keithw. Love the quote about risk taking - never thought of myself as a real risk taker, but now I'm having 2nd thoughts lol. Buggar about the leaky home issue. At the mo I need something that can break even, that's why I thought flats might me a good earner.

  4. #4
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    Keep your eyes on a variety of things, and if the figures look good, do your due diligence. It may be something different than you had thought.

    The main thing is - once you decide invest further, actually do it before you freak out!


 

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