In the beginning there was nothing! That's right a big fat nothing, actually really it is negative nothing, I owe something (a lot of something!) before I can call it nothing. But hey you've got to start somewhere. Being that I have had such a fun time to date, trying to track down information regarding property investment, the pitfalls, the pluses where to start who to trust (ah that word trust isn't that a doozy) etc etc, I thought I would share my trials and tribulations as I go through the process of buying my first real investments property. I say real because I owned a holiday rental in Bussie (Busselton for those not indigenous to Western Australia), for a couple of years which did rather well in the boom, and gave me a taste of what it might be like to make some real money out of property investment. In truth it was more luck than good planning or investment strategy that got me to that stage.
I will start by sharing this real gem, nobody that you speak to will tell you the same thing. Its up to you to pick out the gems from the duds and the ones in between. Quite frankly you have to do your own homework ask your own questions, oh yes I'm going to say it you know I am - there is no such thing as a stupid question! (Well apart from maybe where is the any key!)
Hopefully I can give investment hopefuls some idea of what we went through (yes there is a we, my husband, my brother and his partner). I know investing with family, but lets face it with the cost of real estate these days investing on your own especially in the beginning is really difficult. I think investing with family is a valid idea, and have been told by a mortgage broker that some banks are now cottoning onto the idea and are developing products specifically for that market - stay tuned!
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