Twelve years ago I decided it was time to start taking control of my financial future and I put together a savings plan and a set of long-term goals. Ten years ago I bought my first home; now I have many investment properties. The property portfolio I have today will be worth double what it’s worth now in another seven to 10 years because I’ve bought all my properties with the same fundamentals.
Monthly Archive for February, 2011
Over the weekend the Commonwealth, Australia’s largest bank ran a series of full-page newspaper ads and launched a website with a contentious address, www.commbank.com.au/nabbed, to convince NAB business customers to switch banks. Now the Commonwealth Bank has fired back with its first volley in what has been hailed as an industry first. CBA has launched a new no fee variable interest rate home loan.
A question I am sometimes asked is, how long does it take to get rich from property? The question may be a blunt one, but it is important to know the answer, why invest in a particular asset if after 5 years you have no gains to show for it. Well being rich can be defined as many things. Some people may think having 1 million dollars in the bank makes them ‘rich’ while others may think not having to continue a day job would make them ‘rich’.
It’s the chicken and the egg debate in real estate that is for sure! Will investors and home buyers artificially drive the property market? Or will the property market grow in connection with the economy?
Customers have so far responded cautiously to the National Australia banks (NAB) announcemnet of a break-up with its big four rivals.
I keep having a conversation with people lately about why they’re afraid of investing in property, so I thought it was worth looking at the main thing holding them back.
A war is raging between the nation’s biggest banks as the National Australia Bank published an ad in the form of a break-up letter to its biggest competitors, claiming their services “just don’t compare.”
Interest rates are right where they should be and there is plenty of time before another move might be needed.
Interest rates are likely to remain in hold for a while as the economy experiences a rare terms of trade bonanza, Reserve Bank governor Glenn Stevens says.
We have all been there. The phone rings and on the other line is the property manager or tenant regarding our investment property. We cringe, because we know the only time we hear her voice on the end of the line, the result is us spending money. Here are my top 5 tips on maintaining your investment so the tenants are happy, and ensuring that your pocket remains as unaffected as possible.