Well I had to wait 13 months to buy my 1st ip after having bought my ppor and it seemed and felt like an eternity. Just remember the time goes really fast. It will be here before you know it
Here's how I kept myself motivated.
1. Continued to read motivating/inspirational topics here on ss (especially threads posted by lower income earners who have become successful pi's. I would actually go hunting for people who started off the same way as me (on a lower than average income/or average income) and check out their stats haha.
2. Kept reading pi
3. Kept to a strict budget. I was writing all my expenses down in a book from a cup of coffee to a new hot water system I had to buy. This made me accountable and kept me on track. Was focussed.
3. Allocated 30% of my pay a fortnight into my offset account to remain untouched
4. I also concentrated on something else. losing weight. This was handy because for a good few months there it gave me another obsession/hobby to work on so that all my time and energies wern't on the one thing (investing) Try to develop some other interests to keep balanced and sane.
5. Set yourself mini goals. Such as Saving $5 K after a certain amount of time. It was so exciting for me to see my savings going up and when I hit the $30 K mark I have never felt so proud of myself and on such a high.
I see others here on ss talking about buying 3 properties in the one year. I remind myself of my goals and that I'll be ready in 2012 for another one. 2012 will be an amazing accomplishment for me when I do it. Then when I have 4 or 5 I am sure even if I'm on the same average salary I'll be able to buy more frequently like some others on here. But I'm just not in the position yet to do so. Everyone is different and you have to do things at your own pace.
Keep up the good work, dont get too despondent,
hey and before you know it you will be able to afford to buy. Every year comes around quicker and quicker, just remember that.
It will all be worth the wait. Believe me!!
I reckon if I had of bought my 1st ip shortly after my ppor i wouldn't have appreciated it so much because I wouldn't have had to fight and work hard to get it. This is why this 1st ip has meant so much to me.
Edited to say: Most people (unless your a high income earner) who pi have been in a similar position. It is very slow at first. The first couple are the hardest because you dont have as much equity (in your property and as savings) You need to have a lot of patience and perseverance when you buy your first couple. Then when you have more than a few ip's the equity growth really starts to compound each year and your able to add more quickly to your portfolio. So for me personally I will have to show some true patience over the next 5 years.