Joined: 11/February/2009
Location: Australia
Posts: 1
QuoteReplyTopic: Thanks a Million Posted: 11/February/2009 at 19:49
Hi, I'm new to these forums... (How many time you read that one)
I'm hoping for some great advice here, I can't seem to get it in real life but also while trying to remain low key.
Recently i won a million dollars it's been an amazing rush for me as ive never achieved (Like so many others) the joy of having my own home. Ive worked all my life sometimes 7 days but my poor monetary skills had left me still renting.
I have read many property investing magazines since the win. Folk on there seem to start with virtually nothing and then gain portfolios worth millions in a matter of years , some of which have managed to positive gear a couple.
Reading these things i still have no idea how they do it so quickly, They seem to buy and buy and buy. All i can see that doing is taking up more than my income cash flow, Even though i'm Assuming that i have a better start than they did.
I would love to have my own home to live in and then invest the rest into property with the intention of retiring from work (If possible) in 14 years as i'll then be 55. Does anyone have any suggestions that i may look at and take on board?
Gee BoZ surely if you won a Million--you would have been able to buy your own home--and maybe invested the rest wisely--not to get the highest interest--but to get a sure interest--those who case the high interest promised by many --always remember the higher the interest the more unsafe the investment--when you invest you have to let the interest compound--just make sure you invest with a trustworthy place.
Hey, you won a milion. Con Grads. I hope the friends do not come out of the wood works. Want to keep your options of living open renting is fine. Bricks and morter are always best. You are new found to you wealth.By todays stndandard it is not a lot of money beu it is the prfect starting point others do not have.YES buy property But ask a lot of questions and always add on a contract. " and or nomanee" The next thing please learn to read good. Best of luck.
Congratulations to you. But, at your age, believe me, a million is not a great deal of wealth. Someone told me that twenty years back, and I could not believe it. I know you wil be shocked by that, but it really is not a lot of money. Invest it for a sure return, after you have purchased a modest home that you will always be able to pay the rates and taxes on. That way, you own your own home, and on a modest income, you can pay your bills, whilst the investment can earn you an annual bonus for your leisure. Investing in low rental properties is of course a complete disaster, try not to go there. Good Luck.
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