Recent content by Tyrones

  1. Tyrones

    End of an Era

    Wow, I'm quite surprised to have read this thread and see an end to this era. I've been hearing about Somersoft for years from other investors and only started participating a few weeks ago. Since then I've been learning so much and started recommending friends to join this forum. All is not...
  2. Tyrones

    What are your plans for 2015

    As I discovered this thread only halfway through 2015 (or 2 quarters in), I feel it's not too late to set some goals and share them here... Investing Goals 1. Invest into my property education to learn how to buy properties for capital growth and understand how it works in various markets...
  3. Tyrones

    Why do you Invest in Property?

    My why is to buy property to generate capital growth, so I can use those funds to purchase a PPOR in Sydney in the next 2-3 years for my family and I to live in. I also want the portfolio to generate 150K of "passive income" to allow me to choose to work. (I love my job, so I won't be leaving...
  4. Tyrones

    advice needed on first investment property

    Hi Eks, Have you considered the Logan central area? I've been reading up from other SS members that would be a good area to invest into. It's a little further out from Brisbane and since it's within your price range of $300k - $350k it may be worthwhile to look into. In addition, you may find...
  5. Tyrones

    Journey so far - $75k salary (average), 5 years, 10 properties

    Hey Simon, Awesome post and thanks for sharing an inspiring story. Just curious, what are your goals for the next 5 years? Reason why I ask is what happens once you reach this current stage in your property journey. I'm still a newbie and trying to set my goals. I didn't think it would be...
  6. Tyrones

    Western Sydney Meetup - Wednesday 22/7/15

    Please count me in and looking forward to meeting everyone for the first time. Thanks for organising Skater.
  7. Tyrones

    What paid resources do you use?

    Personally when I was in the real estate industry as an agent everyone used RP Data to produce sales data for the vendor, so my preference has been RP Data. I've also used nearmaps as well since work has it for our roofing business. Both great softwares. There's a really cool feature that's...
  8. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    Thank you for everyone's feedback and opinions. I thought I'd share this with you as it's another opinion: "First, if the market turns against you, so much so that your equity falls below a certain amount or even go negative, whether the bank has the right to "call in" the loan. Second, if you...
  9. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    Thanks Brady - that's a very good money management idea. I'll keep that in mind and won't be maxing ourselves out.
  10. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    Totally agree - I'd rather have money that's not tied up and not buy more doo dads!
  11. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    Thanks Jamie. So realistically a deposit of 16% would be the best way to leverage in this current market? And this allows us to buy more properties? At what stage would I be starting to pay these off if I set them up as IO loans?
  12. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    They are worried that we would be putting not enough money into the property and would be risking too much if the market goes down. Their reasoning is to reduce the risk involved. I'm still trying to figure out their reasoning as well, and that's why I wanted to get further opinions and see...
  13. Tyrones

    Thoughts on this sydney purchase?

    In my opinion, I reckon you would be better to put your money in other markets to get a better return for now. If your goal is to move into the property in the next few years and you need a place to live, then sure buying a property to live in would be important for you. Otherwise from an...
  14. Tyrones

    Pros and Cons Of Using Equity To Buy Properties

    Hi SS members, My wife and I are in the process of looking to build up our portfolio of properties and currently own 1 investment property that has equity to draw down from. I would like to get some feedback and honest opinions on the pros and cons of using say 10% equity compared to say...
  15. Tyrones

    Settled on 2nd IP in Logan!

    Congratulations Justin! I feel like I'm in a similar situation like you. I've got one property in Sydney and now moving onto the 2nd one and looking in QLD as well. Great to hear you purchased your property under market value and that's instant equity! Just wondering, what were your criterias...
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