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| Read as much as you can from the local library and magazines, even if this only gives you cinfidence with the jargon, than it's a step in the right direction | Do not rely on information provided to you by
speakers for investment companies
Always double check their facts |
| Speak with family and friends about what you
are intending to do
Advise comes free from people and maybe with it you will pickup on some good tricks |
Do not trust investment companies
They survive on the money that they scam from you, your hard earnt money |
| Search for a good accountant
Most are reluctant to offer financial advise, but a good one will layout all the available options for you |
Do not allow these people to befriend you, it
is a ploy that they have developed to get you to sign the dotted line
THEY ARE NOT YOUR FRIEND |
| Visit the Australian Taxation Office and ask
for handouts on
Negative Gearing Capital Growth 221D Provisions Family Trust Accounts |
Take the time to sit back and take it all in
It takes a life time to save $200,000, you don't have to spend it in 5 minutes |
| With your partner, establish a goal and use this as your criteria when making decisions | Always ask any person that you are using for
advise, what their percentage will be
10% is not uncommon Just kept a secret from you |
| Speak with as many real estate agents as possible | Don't except the value of the property offered to you by the investment company, get a second independant opinion |
| An area with a high rental availability listing might not be the right area for a rental investment | Ask for a list of 100 satisfied customers that you can contact. Happy investors will always brag, that is if they have this many happy investors |
| Forecast your investment 10 years into the future
1 or 2 years is not enough |
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| Ask about the depreciation schedules for the properties, very important | |
| Ask the accountant to explain Interest Only and Principal and Interest Bank Loans | |
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