1M equity

S

soyabean

Hi,
Work has been very stressful with pressure from below and above so I just want to escape it by sharing my good news that the son has just reached the 1M equity in a break-even portfolio becoming +ve with current low interest rate.

He has been investing since 2003, just ordinary buy/hold, no reno, nothing fancy. I recently forwarded Rixter's strategy to him. He then had his IPs revalued by bank(s), ready to buy another IP, I believe he now wants to apply Rixter's strategy. I don't think he had a clear strategy before.

Hope you don't think I am bragging. I just want to write/think about something good to forget about work (which I will have to go to in 30 mins :eek:).

Thanks,
 
Congratulations! it has been a 7 yr wait. i think that's about the ave.

He should def buy his mummy something nice or maybe a nice dinner!
 
Fantastic news; congratulations to your son. You should be proud, that's wonderful.

What does he plan to do with his life, now that his options are opening up?
 
soyabean said:
He has been investing since 2003, just ordinary buy/hold, no reno, nothing fancy. I recently forwarded Rixter's strategy to him. He then had his IPs revalued by bank(s), ready to buy another IP, I believe he now wants to apply Rixter's strategy. I don't think he had a clear strategy before.
Click to expand...

That's awesome. The funny thing is that those who achieve this level of success don't do it the fancy way. It's always simple and reproducable. Over and over again.
I do the same. Buy, reno, rent and hold.
Rixter's strategy rocks.
I'll be putting up a post like this in 12-24 months. It will be bragging when I do it. In your case, it's not bragging as your just sharing anothers good news with the SS community :)
 
That is just wonderful, soyabean! Thanks for sharing the good news. It must be such a comfort as a parent to know that your son is well set-up financially.:)
 
ozperp said:
What does he plan to do with his life, now that his options are opening up?
Click to expand...
Thanks for asking. He plans to purchase another IP in the next 2 months before quitting work here so bank sees that he still has a permanent J . O. B. He then will go overseas to work/play for a year or two.
I think he will steadily add more IPs to the list.

Now I am worried that he may meet a beautiful Danish girl and won't come back down under :cool:

Oh oops I am running late, I have forgotten about going to work already !! :D:D

Thanks all for your encouraging and kind comments.
 
4 IPs $1mil equity in 7 years, fantastic results, just think a worker might not have achieved this much wealth even after a lifetime of slaving in a job. Are the IPs in capital cities ? It also highlights the flaw of chasing cashflow +ve properties (in some cases), it's another story ......................
 
Oasis,
The IPs are all in inner city Brisbane.

His first IP was a choice/sacrifice between a 25K secondhand sport convertible car, or a deposit for an IP and a 5K car . He nearly went for the sport car, very tempting for a 21 yrs old, but did not, and that one decision has made all the difference.

Sue,
The biggest unknown in my life now is "who will be my daughter i-l". I am ready to love her just want to know who she is :D . Told the son "who your wife-to-be is , is very important to my life". His response: "and my life too" :D:eek:
 
Great achievement for someone so young. Plenty of time to let compounding weave its magic. Whilst he's made some disciplined decisions along the way, he'll soon be listening to the "oh, you're so lucky" chorus from his mates et al.

You must be proud of his milestone soyabean :) and also that what you've done to lead by example has now borne fruit.
 
Hearing this news brings Mudita to my heart SB.

Knowing a little of your background I have nothing but great admiration for your family achievements.

May your wealth continue to multiply in all areas of your lives. :)
 
Because of this thread & all your comments I am able to live the good moment many many times over thank you thank you all :D

Hi Rockstar !! I have to ask teacher Google
The term mudita is usually translated as "sympathetic" or "altruistic" joy, the pleasure that comes from delighting in other people's well-being rather than begrudging it.
What a good word to know (and use) , thanks.
 
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