Gen Y PI's, Please Tell Us Your Story.
- Thread starter josko
- Start date
I remember well a very special chap who used to frequent another property forum (amongst other investing forums). He was around 22 or 23, and had been investing for 4 or 5 years, and had amassed a portfolio of over 20 or 30 properties, most producing good cashflows. This was on top of the large share portfolio he created from nothing.
Unfortunately, he is no longer with us.
His star certainly shone brightly whilst he was alive. Some of the older forum members may remember him also.
Unfortunately, he is no longer with us.
His star certainly shone brightly whilst he was alive. Some of the older forum members may remember him also.
Nathan
I can tell by reading your posts!
Isn't passion a wonderful thing?
Well our parents have helped us all at some stage. Whether it's by giving us a bed to sleep in or making us save $100/week (Awesome Stu). It's what you did with your money when you got it.
Stu, you didn't give in to the peer pressure and buy a nice car like 99.9% of 18yr olds would have with that amount of money. I tried to talk my 21 yr old niece into buying an IP. She received an inheritance of 100k. She blew every single cent in 2 years O/S.
Dazz;
Dazz, Are you serious, that's so sad? We would love to have heard that story.
Regards Jo
I can tell by reading your posts!
Isn't passion a wonderful thing?
Well our parents have helped us all at some stage. Whether it's by giving us a bed to sleep in or making us save $100/week (Awesome Stu
). It's what you did with your money when you got it. Stu, you didn't give in to the peer pressure and buy a nice car like 99.9% of 18yr olds would have with that amount of money. I tried to talk my 21 yr old niece into buying an IP. She received an inheritance of 100k. She blew every single cent in 2 years O/S.
Dazz;
Dazz, Are you serious, that's so sad? We would love to have heard that story.
Regards Jo
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Well I left highschool and started a cadetship at KPMG 1st year of uni.
It was tough, earning $21k a year is only about $350/week so not much to play with!
After the first year i had spent a bit, had no savings and $1.5k on the CC.
In the second year I started a business, and turned around my finances and paid off the CC, paid a couple extra thousand to uni studies and saved $2k (about a $5k or 25% gross turn around).
Then for the next two years up until 6 months ago I was at uni, working about 8 weeks a year at KPMG and running my business (for the experience, not the money). It also let me realise auditing wasnt for me.
So 6 months ago I went back to KPMG, have saved enough from working etc for the first deposit + paying KPMG back $10k for assistance whilst I was at uni. Aim to be saving $1200/week and by the time I get my tax back at the end of the FY09 I should have about $30k ready to go for IP2, then rinse and repeat.
Ideally my goal is to get to $2M in property @ a high LVR. a 4.5% spread on the $2M is $90k neg geared which is worse case senario that I want to get to. I figure if I can get to $2M by the time I am 30 and only have natural growth I can retire by the time I am 45. BUT I plan to now buy land in key areas of melb (meaning houses on land content) and try to develop to build the equity.
So, it is all a bit away - I am back to the shadows to pop in with comments here and at MIG as I have been for the last three-ish years
It was tough, earning $21k a year is only about $350/week so not much to play with!
After the first year i had spent a bit, had no savings and $1.5k on the CC.
In the second year I started a business, and turned around my finances and paid off the CC, paid a couple extra thousand to uni studies and saved $2k (about a $5k or 25% gross turn around).
Then for the next two years up until 6 months ago I was at uni, working about 8 weeks a year at KPMG and running my business (for the experience, not the money). It also let me realise auditing wasnt for me.
So 6 months ago I went back to KPMG, have saved enough from working etc for the first deposit + paying KPMG back $10k for assistance whilst I was at uni. Aim to be saving $1200/week and by the time I get my tax back at the end of the FY09 I should have about $30k ready to go for IP2, then rinse and repeat.
Ideally my goal is to get to $2M in property @ a high LVR. a 4.5% spread on the $2M is $90k neg geared which is worse case senario that I want to get to. I figure if I can get to $2M by the time I am 30 and only have natural growth I can retire by the time I am 45. BUT I plan to now buy land in key areas of melb (meaning houses on land content) and try to develop to build the equity.
So, it is all a bit away - I am back to the shadows to pop in with comments here and at MIG as I have been for the last three-ish years
Hello all..Same here, on the cusp of Gen X/Y depending on definition at 28 years old.
My (shortened version) story:
Bought my first PPOR back in 2004, AFTER the 2003 Brisbane boom. However, I never thought of that house as a PPOR but as an IP, since, as many of you who know the Logan area, I did not want to live in Kingston for the rest of my life. Now, it could have ended then and there, make repayments for 30 years and bingo, I'm done. I still remember thinking that the $300/week repayments were going to be tricky to make (LOL/ROFLMTO). ANYWAY, job got repetitive and boring, so moved out west and it was the best decision I've made. Prescribing to my self belief that renting is crap, I elected to get out of govy housing and bought a dog box, which (apparently luckily) doubled in price in 2 years (Miles, QLD). At a similar time, I liked Tassie, having never been there, but I wanted land so I bought 28 Acres near New Norfolk 30min from Hobart, which, in about 2 years funnily enough LUCKY is another word that was used) has almost doubled too. Finally I purchased a block of land with a personal loan (didn't want to refinance again) near Stanthorpe. This block has doubled in 1 year (did I mention I was Lucky???).
As finances grew (from salary increases), we decided to bite the bullet and buy our most expensive place ever (in fact, it was more expensive than all our other mortgages together) in Ferny Hills in North Brisbane. So far so good, holding it's value well in a downward market.
At the end of last year was a big change for us, we moved again, so made the decision, as I think at a very "lucky" time, to sell both the Kingston and Miles properties. This paid off the Tassie land mortgage and the Stanthorpe land as well, AND a bit of cash left over.
How did all this happen I hear you ask? The four secrets to Gen Y investing:
1. There are A LOT of Gen Y individuals. There is no way I could have done this if I didn't have my lovely wife (then g/f) to invest with. So I put my success down to having two incomes.
2. Bought - I didn't sit on my hands, I acted...A lot of Gen Ys as I see it, do not prioritise buying. They actually do not care about owning a house/unit/whatever and hence it never happens. They may say they do, but they don't...it's priority Number 15.
3. I got the ball rolling by buying in a shitty suburb. I didn't give a rats **** about how crappy it was or how people hated it. If I had done it sooner (ie. 1999 when I was looking at units as a 20 year old) I could have bought one for $15,000, now about $220,000. In a crap suburb!!!!
4. Of course go and live your life, but do it financially sensibly. My wife and I have mobiles, but we're on $10 plans and use it when we needs to. We don't have pay TV, we have the best broadband, but not with Telstra and we try to think/budget our money with all we do. I've had to sell my motorbike to buy a house, so don't forget there will be sacrifices. The money that bike sale has created, has bought back the bike 10 times over (and yes, I did buy another Ducati ) .
Phew..short version over...
My (shortened version) story:
Bought my first PPOR back in 2004, AFTER the 2003 Brisbane boom. However, I never thought of that house as a PPOR but as an IP, since, as many of you who know the Logan area, I did not want to live in Kingston for the rest of my life. Now, it could have ended then and there, make repayments for 30 years and bingo, I'm done. I still remember thinking that the $300/week repayments were going to be tricky to make (LOL/ROFLMTO). ANYWAY, job got repetitive and boring, so moved out west and it was the best decision I've made. Prescribing to my self belief that renting is crap, I elected to get out of govy housing and bought a dog box, which (apparently luckily) doubled in price in 2 years (Miles, QLD). At a similar time, I liked Tassie, having never been there, but I wanted land so I bought 28 Acres near New Norfolk 30min from Hobart, which, in about 2 years funnily enough LUCKY is another word that was used) has almost doubled too. Finally I purchased a block of land with a personal loan (didn't want to refinance again) near Stanthorpe. This block has doubled in 1 year (did I mention I was Lucky???).
As finances grew (from salary increases), we decided to bite the bullet and buy our most expensive place ever (in fact, it was more expensive than all our other mortgages together) in Ferny Hills in North Brisbane. So far so good, holding it's value well in a downward market.
At the end of last year was a big change for us, we moved again, so made the decision, as I think at a very "lucky" time, to sell both the Kingston and Miles properties. This paid off the Tassie land mortgage and the Stanthorpe land as well, AND a bit of cash left over.
How did all this happen I hear you ask? The four secrets to Gen Y investing:
1. There are A LOT of Gen Y individuals. There is no way I could have done this if I didn't have my lovely wife (then g/f) to invest with. So I put my success down to having two incomes.
2. Bought - I didn't sit on my hands, I acted...A lot of Gen Ys as I see it, do not prioritise buying. They actually do not care about owning a house/unit/whatever and hence it never happens. They may say they do, but they don't...it's priority Number 15.
3. I got the ball rolling by buying in a shitty suburb. I didn't give a rats **** about how crappy it was or how people hated it. If I had done it sooner (ie. 1999 when I was looking at units as a 20 year old) I could have bought one for $15,000, now about $220,000. In a crap suburb!!!!
4. Of course go and live your life, but do it financially sensibly. My wife and I have mobiles, but we're on $10 plans and use it when we needs to. We don't have pay TV, we have the best broadband, but not with Telstra and we try to think/budget our money with all we do. I've had to sell my motorbike to buy a house, so don't forget there will be sacrifices. The money that bike sale has created, has bought back the bike 10 times over (and yes, I did buy another Ducati
) .Phew..short version over...
I dont know if I qualify, I'm 30 so I'm on the cusp .....
Had a great upbringing, scored a scholarship to a nice private school and did really well at school. I went to uni, and finished a degree .....only just .... before I went off the rails and decided to live a life of drugs.... I was a loser. I was an embarrassment to everything my parents had instilled in me and I was going nowhere fast. I realised I was on dangerous path so on my 23rd birthday, I asked my parents to buy me a bus ticket to sydney. I had absolutely nothing to my name.
1 week after my 23rd birthday I hoped on that bus with a $79 suit, a bag full of clothes and a resume and sat there for the night looking out the window wondering wtf I was doing.
I was lucky enough that an old school mate who had done well for herself let me sleep on her loungeroom floor for a couple of weeks while I found my feet in Sydney .... pretty awe-inspiring place for a young lad. Within 2 weeks I had a job and started to try and rebuild my life.
No, it didn't mean I walked into property riches within months.... i wasn't in that mindset for another few years. What I did do was get myself out of the lifestyle I had been leading. I left all those "friends" behind and found new people to associate with - that was really hard. I concentrated on building up my earning capacity. I had the degree but I needed some experience.
In 2001 I met my future wife. We married in 2006. We are expecting our first child in 10 weeks. How lucky am I. I am rich already... way beyond the bricks and mortar.
But I like bricks and mortar too.... We bought our first investment property in 2006. Block of land for $85k - valued last year at $115k owe $80k
We bought our second IP in 2007. Bought in Seven Hills (inner south), Brisbane for $445k. Valued at $530k. owe $415k.
We are on the right path. Hardly comparable to some of the amazing things people do on here but doing ok ... I look back and think how life could have been if I didn't make the changes. It scares me.
Had a great upbringing, scored a scholarship to a nice private school and did really well at school. I went to uni, and finished a degree .....only just .... before I went off the rails and decided to live a life of drugs.... I was a loser. I was an embarrassment to everything my parents had instilled in me and I was going nowhere fast. I realised I was on dangerous path so on my 23rd birthday, I asked my parents to buy me a bus ticket to sydney. I had absolutely nothing to my name.
1 week after my 23rd birthday I hoped on that bus with a $79 suit, a bag full of clothes and a resume and sat there for the night looking out the window wondering wtf I was doing.
I was lucky enough that an old school mate who had done well for herself let me sleep on her loungeroom floor for a couple of weeks while I found my feet in Sydney .... pretty awe-inspiring place for a young lad. Within 2 weeks I had a job and started to try and rebuild my life.
No, it didn't mean I walked into property riches within months.... i wasn't in that mindset for another few years. What I did do was get myself out of the lifestyle I had been leading. I left all those "friends" behind and found new people to associate with - that was really hard. I concentrated on building up my earning capacity. I had the degree but I needed some experience.
In 2001 I met my future wife. We married in 2006. We are expecting our first child in 10 weeks. How lucky am I. I am rich already... way beyond the bricks and mortar.
But I like bricks and mortar too.... We bought our first investment property in 2006. Block of land for $85k - valued last year at $115k owe $80k
We bought our second IP in 2007. Bought in Seven Hills (inner south), Brisbane for $445k. Valued at $530k. owe $415k.
We are on the right path. Hardly comparable to some of the amazing things people do on here but doing ok ... I look back and think how life could have been if I didn't make the changes. It scares me.
My answer would be........because a lot of people in their 20s are still pi$$ing their money away.
The responses from the "younguns" on this thread is inspiring and I wish them all well.
As far as those neg geared properties go...as long as they are seeing overall growth is the main thing as eventually they will become positively geared.
Regards
Marty
Very true mate... well done... enjoy the sleep now
I remember well a very special chap who used to frequent another property forum (amongst other investing forums). He was around 22 or 23, and had been investing for 4 or 5 years, and had amassed a portfolio of over 20 or 30 properties, most producing good cashflows. This was on top of the large share portfolio he created from nothing.
Unfortunately, he is no longer with us.
Wow, thats incredible. Would love to meet him/her. Perhaps one of the Gen Xs or BBs can track him down....?
Well said, marty, I wsa choosing to ignore him.
Meatgroup:
You weren't lucky, you chose your path and your success at this moment is due to your decisions. Sure people can choose to help us, but it's up to you to accept the help and learn. You have done really well and deserve the credit for it. Pat yourself on the back and enjoy your new baby when he/she comes. Lots of fun times ahead for you.
Handy:
Great story Handy, proof that you guys CAN go without the cliche Plasmas and nice cars..(except the Ducati's
)Point 3, is what alot of us Gen x's and Baby Boomers have been saying. Most of our parents, and probably alot of yours did it really tough when they were younger. My parents split 5 kids up. 3 lived in a caravan and the other 2 lived with my Aunty for 12 months, while Dad built a fibro house. It was before I was born. When they were first married, they lived in their parents garage and had 1 baby before they were able to move out and buy a house.
I can't imagine too many of us living in a garage with a baby these days. Even I have to admit that would have been tough!
I love all these wonderful stories guys..Brendan, did you end up putting in your low offer?
Regards Jo
Great story Handy, proof that you guys CAN go without the cliche Plasmas and nice cars..(except the Ducati's
Regards Jo
*Cough* *cough* I have a 42 inch HD LCD *cough*
No nice car though..am working on it...until then its the Hyundai Getz and the BA Falcon...
No matter what you do, no matter how hard you work, no matter how much you achieve, there's always going to be someone that's going to knock you.
I say 'fantastic job!' to every one of you who has done something! You're all marvelous and it's great to see. Also good for the older people on here who think that people in their 20's do nothing but spend all their money. Well guess what - people OF ALL AGES do that, not just young people. You all young fella's should be really proud of yourselves!
Mark
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Unless you can find someone who can speak to the dead, you're not gonna have much luck.
Mark
I'm 23.
1 IP I'm waiting on to be settled on. $366k, rental appraisal of ~$350/week.
I started saving at about 15 when I started working in my grandparents' bakery, bought TAB shares when I was 16 and got fully into the share market when I was 19-20 with about $10-13k, investing in commodity stocks looking for producers, or soon to be producers who didn't have the cash flow, or future cash flow factored into their share price/market capitalisation... made 300%+ on OPL, 80%+ on MAE which helped to more than double my savings, but I was also lazy and stopped working periodically while I partied hard, so that chewed up a fair bit of savings... also spent $5k on a comercial coffee machine + grinder, more money on cars - been through 3 in the last 12 months and have spent $18k alone on the damn things! Still got $6k left on a personal loan due to my latest car which I bought for $13.5k. Wish I hadn't spent so much on a car, but what's done now is done and I'm trying to pay it off ASAP.
Most of my deposit money came from profits I made gambling in the last 12-18 months... betting on MMA (Mixed Martial Arts), mainly on the UFC (Ultimate Fighting Championships).. it is a nice little money spinner for me to supplement my income and I tend to return at least a 20%+ ROI overall and I will churn over $100-150k in bets this year easily.
I lost $15k+ in the space of 4-6 weeks... lost $7k on the stock market after liquidating my entire portfolio over 18 months months ago and jumping on a "hot insider tip"... lost several plays gambling, including a couple of real heavy plays gambling that I considered "LOCKS", this was after going 15+ fight win streak and over $20k in profits before the end of April was up. I think I was placing too much pressure on myself to gamble more aggressively and more often while I was "hot" than what I would otherwise which forced me to make a couple of plays I normally would not make, as I tend to go with a slow and steady, grinding, approach.
It was there & then that I realised I needed to borrow other people's money and leverage to create the wealth I was after, working harder, saving harder & gambling harder & more aggressively was not going to give me the financial freedom I was after. So I pulled the trigger and decided to invest in property as I figured that going by the average historical returns of ~7-10% p.a, that would generate me as much money as a terrific year gambling would... my decision was perhaps a little rash as in a period of 2 weeks I had contacted a mortgage broker and agreed to buy a property OTP in a new estate through an investment group, but I was very impressed with this group's past timing & results, buying in Brisbane and Perth just before the boom and and their systematic and disciplined approach on the DVD of buying in a major city, etc...
I guess the main key factor which has enabled me to get into the property market is relocating to Mount Isa 10 months ago from Newcastle to start working full-time where I earn a much higher income than what I would otherwise seeing as I am unskilled and unqualified. My income at present is $85k+/year, working 2 jobs and about 60 hours/week. I never have a weekend off because of the cash I can earn working on weekends with penalty rates, so I work every Fri + Sat night doing 6 hours security at a minimum, but there are weekends where I work Fri and/or Sat day, as well as Fri + Sat night and get virtually no sleep...
I live pretty basically, don't drink or smoke... I only really spend money on rent, food, phone/internet and some cheap entertainment... share a little dump of a place with very cheap furniture and cutlery and what not, but I don't mind in the least as I see it as a way to get out of the rat race and becoming financially independent and self-sufficient.
Right now, I desperately want a second IP as I know I have the cash flow to service it and would even go and work a 3rd job, doing 80-85 hours a week if that's what it meant I had to (maybe for a 3rd one?!) - I enjoy working long hours, helps me to avoid the drama in this small town, stay out of trouble and stay focused... the bank said no go to a 100% home loan, but I have a small debt remaining on a personal loan which may change things if I pay it off. Basically, they said they would lend me up tp $250k now, but if I pay it off, they would lend me up to $350k. I will have IP #2 in several months all going well.
1 IP I'm waiting on to be settled on. $366k, rental appraisal of ~$350/week.
I started saving at about 15 when I started working in my grandparents' bakery, bought TAB shares when I was 16 and got fully into the share market when I was 19-20 with about $10-13k, investing in commodity stocks looking for producers, or soon to be producers who didn't have the cash flow, or future cash flow factored into their share price/market capitalisation... made 300%+ on OPL, 80%+ on MAE which helped to more than double my savings, but I was also lazy and stopped working periodically while I partied hard, so that chewed up a fair bit of savings... also spent $5k on a comercial coffee machine + grinder, more money on cars - been through 3 in the last 12 months and have spent $18k alone on the damn things! Still got $6k left on a personal loan due to my latest car which I bought for $13.5k. Wish I hadn't spent so much on a car, but what's done now is done and I'm trying to pay it off ASAP.
Most of my deposit money came from profits I made gambling in the last 12-18 months... betting on MMA (Mixed Martial Arts), mainly on the UFC (Ultimate Fighting Championships).. it is a nice little money spinner for me to supplement my income and I tend to return at least a 20%+ ROI overall and I will churn over $100-150k in bets this year easily.
I lost $15k+ in the space of 4-6 weeks... lost $7k on the stock market after liquidating my entire portfolio over 18 months months ago and jumping on a "hot insider tip"... lost several plays gambling, including a couple of real heavy plays gambling that I considered "LOCKS", this was after going 15+ fight win streak and over $20k in profits before the end of April was up. I think I was placing too much pressure on myself to gamble more aggressively and more often while I was "hot" than what I would otherwise which forced me to make a couple of plays I normally would not make, as I tend to go with a slow and steady, grinding, approach.
It was there & then that I realised I needed to borrow other people's money and leverage to create the wealth I was after, working harder, saving harder & gambling harder & more aggressively was not going to give me the financial freedom I was after. So I pulled the trigger and decided to invest in property as I figured that going by the average historical returns of ~7-10% p.a, that would generate me as much money as a terrific year gambling would... my decision was perhaps a little rash as in a period of 2 weeks I had contacted a mortgage broker and agreed to buy a property OTP in a new estate through an investment group, but I was very impressed with this group's past timing & results, buying in Brisbane and Perth just before the boom and and their systematic and disciplined approach on the DVD of buying in a major city, etc...
I guess the main key factor which has enabled me to get into the property market is relocating to Mount Isa 10 months ago from Newcastle to start working full-time where I earn a much higher income than what I would otherwise seeing as I am unskilled and unqualified. My income at present is $85k+/year, working 2 jobs and about 60 hours/week. I never have a weekend off because of the cash I can earn working on weekends with penalty rates, so I work every Fri + Sat night doing 6 hours security at a minimum, but there are weekends where I work Fri and/or Sat day, as well as Fri + Sat night and get virtually no sleep...
I live pretty basically, don't drink or smoke... I only really spend money on rent, food, phone/internet and some cheap entertainment... share a little dump of a place with very cheap furniture and cutlery and what not, but I don't mind in the least as I see it as a way to get out of the rat race and becoming financially independent and self-sufficient.
Right now, I desperately want a second IP as I know I have the cash flow to service it and would even go and work a 3rd job, doing 80-85 hours a week if that's what it meant I had to (maybe for a 3rd one?!) - I enjoy working long hours, helps me to avoid the drama in this small town, stay out of trouble and stay focused... the bank said no go to a 100% home loan, but I have a small debt remaining on a personal loan which may change things if I pay it off. Basically, they said they would lend me up tp $250k now, but if I pay it off, they would lend me up to $350k. I will have IP #2 in several months all going well.
Hi Mark
Not sure if your comment was for me, but what I meant was that yes, whilst many people of all ages squander money, it's quite common for a lot of people to spend up, party etc in their 20s, then get to a later stage of life (perhaps their 30s) and start to think about getting ahead (investing). My point being that if someone in their 20s starts investing (as opposed to say 10 years later), they are so far ahead of their peers, it isn't funny.
Some (it seems) seem to never give up that spending habit as you pointed out.
Regards
Marty
Hey!! We have a Hyundai Excel and a BA Falcon too, but I consider them excellent cars - the best I've ever had!!
Is there something wrong with me??
On other exciting news, we just upgraded our TV from a small 56cm box, to our mates old 80cm box!! It looks huge on our little table, even though its 9 yrs old...
I think I've posted my stuff before, but the synopsis is:
Saved for deposit with GF (now fiance) straight out of uni and bought at 21yr an old 3x2 in a "bad-name" suburb 10km from CBD. It was a PPOR for 12 months while we improved bits-and-pieces. Then at 23 (2007) we bought the place next door and moved into a rental. So now control 2 IP's but no PPOR.
Also keep adding to my share portfolio / MF's, which is around 12% of the gross assets at the moment.
But I measure the share performance on % of my partners income replaced. ie. last FY the shares/MF generated 13% of my partners salary in divs & distributions, which is the equivalent of 1.3 days a fortnight.
She makes it hard for me though, by continually raising her salary!!
Cheers for the good stories everyone!
Chris
Hi Marty,
Not directed at you - directed at the LOOOOOONG line of uppity older people on this forum who are always jumping on the 'Gen Y do nothing but p1ss their money up the wall and complain about not being able to afford property because all they do is spend their money' bandwagon.
Mark
Not directed at you - directed at the LOOOOOONG line of uppity older people on this forum who are always jumping on the 'Gen Y do nothing but p1ss their money up the wall and complain about not being able to afford property because all they do is spend their money' bandwagon.
Mark
hi all,
i havent been on here for a few years so i thought id make a post to get the juices flowing again. I have a problem of not staying focused on things and thinking that i know too much which stops me from coming on here and learning. Something I feel I must overcome.
born 1980 now 28yrs old
graduated uni in 2002 and got into the workforce
2004 with savings bought a villa in mudgee NSW $154k valued now at $190k
at this stage i was not remotely interested in property investing, i had some money saved and my parents encouraged me to buy.
Around 2006 I started getting sick of working as a computer systems administrator and felt I would soon go postal, so i started looking into ways to become financially independednt.
2007 bought a 3 bed house in sydneys west $201k worth $269k
2008 just settled on a 3 bed brick house again in sydneys west $225k worth minimum $270k max $300k but we'll see in a few months time.
its been slow going, lost some hard earned trying a stint in real estate sales late 2006 early 2007 but was unable to 'crack it', have since settled into a job i can tolerate. Still not investing at full potential as my partner has been having back problems.
But hey thats life, im still happily on the journey.
i havent been on here for a few years so i thought id make a post to get the juices flowing again. I have a problem of not staying focused on things and thinking that i know too much which stops me from coming on here and learning. Something I feel I must overcome.
born 1980 now 28yrs old
graduated uni in 2002 and got into the workforce
2004 with savings bought a villa in mudgee NSW $154k valued now at $190k
at this stage i was not remotely interested in property investing, i had some money saved and my parents encouraged me to buy.
Around 2006 I started getting sick of working as a computer systems administrator and felt I would soon go postal, so i started looking into ways to become financially independednt.
2007 bought a 3 bed house in sydneys west $201k worth $269k
2008 just settled on a 3 bed brick house again in sydneys west $225k worth minimum $270k max $300k but we'll see in a few months time.
its been slow going, lost some hard earned trying a stint in real estate sales late 2006 early 2007 but was unable to 'crack it', have since settled into a job i can tolerate. Still not investing at full potential as my partner has been having back problems.
But hey thats life, im still happily on the journey.
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