Is anyone else here under 25????

[ndavy]

Hey there Team!

I was reading the thread on the importance of surrounding yourself with like minded people so I thought if I would see if there were any other young ones out there that are actively investing in property... It seems not many people my age are actively persuing property investment...

I bought my first IP a few months ago at (20 yo) in Syndey's inner west. Despite reading an immense amount of good books I still had troubles. The whole process of financing and negotiating was shambolic from beginning to end.

However, in the end the property was a bargain and the overall experience was great. I learnt stuff that I think I only ever would have learnt the hard way.

I see myself getting another 2 IPs this year. This is my overall strategy (as a rookie investor) which I hope will work:

1. Arrange finance first!! (not having the finance arranged first was my biggest mistake first time round)
2. Buy really cheap at lower end of market (easier said than done I know, but there is no way you're going to pay too much. Also, always steady stream of renters)
3. Change the way I think about debt and try to borrow as much as possible - remember Kiyosaki - there is good debt and bad debt.
4. Lock in the interest rate (there is no way I can afford a rise!)

Anyway, I would be interested in the experience or comments of other people who can relate to this...

Davo
''The journey of a thousand miles begins with the first step"

[XBenX]

im another youngin - there is a few of us around do a search there was a similar thread a little while ago

welcome to the forum !

dont see anything wrong with your strategy - any strategy that works is a good one

read the archives - my strategy has changed / been tweaked many times after reading a good forum comment

[WillG]

Well done.

What has age got to do with investment. I started investing in my late twenties - now thirty somethin ... I wish I had seen the light earler.

Your strategy is good. Sounds like you have some of the risk managed by locking in your rates. The only risk you can't manage is lack of tennants.

Cheers,
Will

[ndavy]

thanks people for your encouragement and feedback. I think investing in prop is the best thing to do whilst yr young and don't have many commitments, I don't know why more youngin's aren't jumping at it.

this forum is really cool...

[dtraeger2k]

Hi, and welcome to the forums.

I'll be 21 in a couple of months, so i guess I'm in the same age league as you :p

Im in Perth, dont have an IP yet - shopping currently ;)

[stevec]

I'm also a youngin, I think, at 26, but feel like time is flying too fast. Also a first time poster, but been lurking for a long long time.

After reading your post I thought it was time for me to come out of the woodwork and contribute to this fantastic forum. I have never posted before because I didn't think I had enough knowledge to give any opinions I had.

I'm also in the same boat as you, as none of my friends or people my age I know have any interests in investing as they are too busy enjoying themselves and living it up.

I bought my first IP at 23 in Sydney and have now got another 2 more. This year I plan to add another one or two to that.

To me this forum is the best thing I have ever discovered! The amount of infomation you can access is great. The regulars on this forum provide a wealth of info,ideas and support which makes me even more eager to achieve my goals and think that it is possible to do.

As they say, surrounding yourself with like minded people I think is very important and this forum lets me acheive this. Every day I log on and I learn something new and get even more inspiration.

Its good to see there are a few others out there close to my age who are trying to achieve the same thing. Good luck to all!

Stevec

[LucasK]

I'm 18.

Haven't got an investment property yet, but I'm going to learn about the various aspects of investing over the next few years, before putting my money on one.

[Rickardo]

Hi,
I'm also young, 18, don't have an IP yet, the lack of money is the only thing stopping me, i plan to get one within 1-2 years and this should be achievable. Time is a massive advantage in wealth creation so the earlier you start the better!

[XBenX]

gotta love the power of compounding !

[sanchez]

How old before you're no longer considered young?

[XBenX]

i think 25 is the cut off ... argh only a few short years and im there !

but it all depends on your perspective !

[sanchez]

You seem pretty well informed Ben considering your age!

[beech]

i agree with you Sanchez it seems Bens 1st book in preps may well have been an early Jan Somers book.:D

Darren

[XBenX]

funnily enough ppl always comment on my age - its illegal to discriminate on that basis ppl - just jokes....

maybe I should change my avatar to something else.....or add a disclaimer warning im a youngin' :P

[XBenX]

just wish I had of know a decent broker back then - I sat on knowledge for a while waiting for my borrowing capacity to improve...

hence reading way too many property books... (there was nothing else to do)

Originally posted by beech
i agree with you Sanchez it seems Bens 1st book in preps may well have been an early Jan Somers book.:D

Darren

[sanchez]

Well I'm sure you're making up for it now.

[beech]

Actually Ben was it anything in particular that got you 1st interested in property at a young age(job,parents etc)or just a general interest by way of reading books and it developed from there?

Darren

[ndavy]

you can go quiote loony reading too many property books can't you?

[geoffw]

Originally posted by XBenX
i think 25 is the cut off ... argh only a few short years and im there ! I'm almost double your cutoff- and I only consider myself experienced. Not even middle aged.

[coolstyle]

hey Davo (and other young dudes/dudettes)!

I'm 25yrs old and aim to quit my F/T job in 4.5 yrs.

I have 0 IP's but I've made a few offers of late (to no avail .. market not feeling the crunch just yet :p) ...
I am becoming much of an entreprenuer and slowly building a network of likeminded individuals.

My position:
I have a reasonable (35-50k) share portfolio, and approx 60k tied up in cars i'm 'trading'.
I have a 'good job' with a large I.t management consulting firm (means nothing to me)
I have just started a business modifying performance cars .. i'm the business development mgr, and we have 1 investor .. so 'we' pay me a few hundred p.w. for my time, with option to share equity upon high performance at years end.
I'm looking at some other ventures .. and always willing to consider new things .. I often 'do the maths', and will have a go if makes sense on paper.

I've learned that if you have the motivation (and the eternal optimism), then you will find a way to come up with a path to ambitious (aka 'unrealistic') goals.

I'm new to property, but feel that it is a great place to be active ... i'm a little hesistant in todays market .. and like the idea of making money with the booms .. but I also cannot wait 3-5 years to start to work my plans .. so here i am.

Please do PM / email / any contact to me if you like my style ... as I'm alwasy willing to learn and speak with other inspired individuals (whatever your age may be) ..

You ya'll around! .. hopefully I can report in the next few months that I have made a good purchase!

Cheers,
Coolstyle

PS: thx for the lesson in arranging finance first .. i have already made a few offers 'subject to finance from my banker' .. and should be a little more prepared in future ;)

[XBenX]

oooooer performance cars.... tell me more :)

ive got a sr20det just waiting for a rebuild....any suggestions ?

id like to hear what u guys would do

im thinking 12 sec FWD - probably a pulsar... want a sleeper to chop all the boy racer wrx drivers and HSV nuggets

power shouldnt be the problem - its finding the traction - i still want it to be streetable

[The Wife]

I'm under 25 in my mind. Oh and I was knocked back for a loan at 17, came back at 18, but I had a large deposit.

[Aceyducey]

Originally posted by The Wife
I'm under 25 in my mind.

So am I - the problem is convincing my body :)

However I did find out the other day that my hand writing is still as poor as when I was 11....

Cheers,

Aceyducey

[The Wife]

Hey Ace, I'm a crap speller, but you should see my investment portfolio!

[Jas]

Originally posted by The Wife
Hey Ace, I'm a crap speller, but you should see my investment portfolio!


Proof that there's hope for the rest of us

Dyslexic’s of the world untie!

Jas

[Aceyducey]

Originally posted by Jas
Dyslexic’s of the world untie!

More proof there is a dog!

Cheers,

Aceyducey

[geoffw]

On the opposite end of the forum from the young ones..

I've just bought Jan Somers' book "Building Wealth Story by Story"- at the prompting of Les.

I've just read about the oldfella (an aside, not a main story), 110 years old, being interviewed by Johny Carson (?)

He said that the best thing he had ever done finiancially in his life was buying condominium(s) at age 105.

(Sorry, the book is in the oval office with MrsW atm).

It's never too late to start- as well as never too young!

[Les]

G'day Geoffw,

I can't believe this - you've just topped 2000 posts, and yet... You've ONLY JUST met up with "Story By Story"? Where you bin?

;) Congratulations anyway, GW

Regards,

[Ruby]

Gee, I'm with you on this one Les!!! I'm shocked Geoff :eek:

Story by Story is one of my all time favourites.....can't quite remember how many times I've re-read it. I just love it!!

I'm glad you listened to Les's promting :) I hope MrsW enjoys it as well.

Ruby

[geoffw]

Hey people!

We've been encouraging people to budget, and to spend carefully.

I've been doing that, of necessity.

One book a month has been my budget.

OK, perhaps this one should have been earlier in the shopping list- but you don't know until you've got it.

But I have a special reason for buying this one now.

My 13yo daughter was watching one of the infomercials for Anthony Robins.

She was asking me if this stuff was for real.

I told her that what he was saying was possible for anyone (not really knowing what was in the infomercial).

So she has asked me to teach her what this porperty stuff is all about, and how she can be financially independent in ten years.

Hey, wow... but does she really know what it's all about?

My first response was that she needs to lower her sights a little- and that that combination mobile/digital camera/VCR/2 way wrist TV is not quite achievable on her budget.

But the "Story by Story" I thought would be a good introduction to the concepts.

Except that MrsW and myself have to finish it ourselves before we pass it on.

And we have to do so well before the next Harry Potter book is released.

[Clint]

Hello to all those young investors out there,

How stoked are you that you found this forum, it is an unbelievable source of information.
Anyone on the Gold Coast?

Clint




We are the future of wealth in this country!!!!

[add]

Hi guys! Im 22 just purchasing first ip at the moment, plan to be first of many, good to see some other young investors doing the same!!!!!! Happy & Successful Investing to all!
regards add.



PS keep up the OUTSTANDING work on this forum everyone!