ABC TV Reporter

Are you going to get a plumbing ticket as well? Maybe a pest licence?

I have never heard of anyone getting a sparkies ticket so they can save some money on IPs.
Plumbing (at a normal maintenance level) is not illegal to do without a ticket is it? Certainly will need to upskill there too but for most stuff my welding cert will get me through (we had to do lots of brazing).

Pest license again I don't think you need a license for. But yes again I will definitely seek advice from professionals on how to recognise and treat various pest infestations (I am actually in the middle of trying to get better at carpentry as that is the primary requirement at home currently).
 
Plumbing (at a normal maintenance level) is not illegal to do without a ticket is it?

Pest license again I don't think you need a license for.

I believe both need tickets, certainly plumbing cannot be done by the home owner (but often is). At least you cannot kill yourself self-plumbing.

If you are earning what you say you are, why bother? Just pay for the sparkie or plumber.
 
Our aim is to accumulate a portfolio to pass on to the kids
The ironic thing is there will be some other couple out there who are relying on your kids paying silly money for housing in the future so that their IPs will still be worth big $$ when they pass them on to their kids!
 
It is not a monkey, it is the character I played in one of the star wars movies. But yes I talk a fair amount of trash over at GHPC, I don't tend to post here very often (I actually forgot my login for this site as I was only reading it and didn't notice I hadn't stored the password) as I don't think the audience here is quite as open to the style of post I often make.

If you have indeed read some of my funnies I expect you will see what I mean.

Regarding the clarification requested earlier by LA Aussie, yes of course I will need my sparky ticket, can't do electrical repairs without it. Perhaps my comment regarding that was unclear. I was pointing out that, yes, being a land lord is a viable option for me at some point however my investment strategy is to remove as many costs from the investment as possible. Therefore it should be rather obvious that I would like to do any maintenance on an IP myself.

As I said this in conjunction with mentioning I have acquired a small amount of interior decorating skills I thought it was fairly obvious.

If you read my posts you will see the underlying theme of up-skilling for my wealth creation.

Edit to add: Regarding "Hired Goon, Foundation, Scamp, Timeisnow, XGJunkie, Blogs etc?" yep I have insulted / ranted drunkenly at most of them at some point or another I guess.


Dont forget he is also a movie star!!!
 
L.AAussie:
So, he bought his first IP at aged 20?
Yes
Just to clarify things though; was he still living at home with Mum and Dad before he moved into the IP? This is important, because a 20 year old on an average wage living out of home would take a good deal of time to save a decent deposit.
Yes. Only lived out of home for a year when bought the 1st one (as PPOR ===> IP)
 
I believe both need tickets, certainly plumbing cannot be done by the home owner (but often is). At least you cannot kill yourself self-plumbing.

If you are earning what you say you are, why bother? Just pay for the sparkie or plumber.

Really? Oh well another thing to learn. TAFE love me hehehe.

As to why I would want to learn these skills. The official grown up answer is that I minimise my reliance on other people, reduce outgoings, increase skill base for covering off on if I lose my job blah blah blah.

Truth of the matter is I like being able to do stuff. So I spend a lot of my free time learning things to a level of basic competence (i.e. I probably could get a pretty bottom of the ladder job doing them).

For which martial art I do, Naginata. Don't worry if you haven't heard of it, pretty obscure.
 
Really? Oh well another thing to learn. TAFE love me hehehe.

As to why I would want to learn these skills. The official grown up answer is that I minimise my reliance on other people, reduce outgoings, increase skill base for covering off on if I lose my job blah blah blah.

Truth of the matter is I like being able to do stuff. So I spend a lot of my free time learning things to a level of basic competence (i.e. I probably could get a pretty bottom of the ladder job doing them).

For which martial art I do, Naginata. Don't worry if you haven't heard of it, pretty obscure.

You just finished telling us how your job was high paid and everybody would want you even if the world collapsed (or something like that).

Sparkie tickets take several years, don't they? Cheaper to just pay a sparkie when you need one, I reckon.

If you are earning as much as you say, why on earth would you spend five years learning a trade so that you could save maybe a couple of hundred dollars a couple of times a year at most. Just doesn't make sense.
 
You just finished telling us how your job was high paid and everybody would want you even if the world collapsed (or something like that).

Sparkie tickets take several years, don't they? Cheaper to just pay a sparkie when you need one, I reckon.

If you are earning as much as you say, why on earth would you spend five years learning a trade so that you could save maybe a couple of hundred dollars a couple of times a year at most. Just doesn't make sense.

Make it past the first paragraph of my post or not?

"Truth of the matter is I like being able to do stuff. So I spend a lot of my free time learning things to a level of basic competence (i.e. I probably could get a pretty bottom of the ladder job doing them)."
 
I have just been doing my taxes and by investing my time into getting better at my job I have had an average payrise of ~24% compounded each year for the past 16 years (top of my head calc, 24K -> 280K in 16 years).

This of course means that in an economic downturn such as we are potentially facing I will probably still be in demand, maybe not at the same stupid pay scale but certainly my skills which are required now will be require din a downturn and being one of the better ones out there I am likely to keep some cash coming in.

Unless, of course, you have invested a vast quantity of time into your career alongside your property gambit. Something I think most people would agree is unlikely. Most of us only have time to really invest our time into one aspect of our lives.

You say it is unlikely, but you plan on spending five years becomeing a sparkie. Why can others not multi-skill as well?

I did read you whole post, and it just doesn't ring true to me.
 
Truth of the matter is I like being able to do stuff. So I spend a lot of my free time learning things to a level of basic competence (i.e. I probably could get a pretty bottom of the ladder job doing them).
.

Good on you! :)

Cheers,

The Y-man
 
I did read you whole post, and it just doesn't ring true to me.

Which bits do you have an issue with?
Index investing?
Me doing well in a really obscure martial art (like not enough people even know about it to be that good at it)?
Me being in Attack of the Clones (which got me a reference on wikipedia, every nerds dream and, in IT, it is cool to have on your resume, guaranteed to make interview phase hehehe)
Me liking to learn skills such as blacksmithing, brewing, cooking, painting and wanting to get more like electricals, plumbing and carpentry?
I have done a bunch of other things too, simply because I like to learn stuff.

I think you will find it is not that uncommon. I know people that do way more cool things than me (I have a long term relationship which also requires some of my time :). When you are old you have had time to pick up tons of skills. As I approach 40 I only intend on trying to expand my "mediocre skills".

I don't know how I could prove them to you. If you have suggestions I will gladly accommodate where I can.

and I am assuming that the bit in red was yours as well. Could be wrong. Anyhow:
You say it is unlikely, but you plan on spending five years becomeing a sparkie. Why can others not multi-skill as well?
Oh no I am not saying they can't, I think everyone should. One of the sensei I really really respect came out openly stating that your naginata will never be any good if you can't cook or make a cup of tea (it was kind of controversial when she did that). She was pointing out that you must learn many things to become a real person. If you focus only on one thing you may become good at it but you will not be an interesting person and she considers that important.

What I am saying is that I am pretty crap at most of the things I do outside of my speciality. I do these things for fun and to have in my back pocket for future eventualities. I do not compare my skills outside of my primary occupation to be particularly useful for planning my foreseeable financial situation.

For example, I have a pretty specific job type currently. It is conceivable that this skill could become redundant and I would be out of a job and need to pursue a different path. When evaluating whether to become a landlord and attempt to maintain even close to my current income I would assume (ignoring capital gains) that I would need on the order of 10 reasonable places to be rented out (assuming say 400 / week / property). I would assume that with that many properties maintenance would no longer be a once a year thing but quite a regular occurrence.

If I were to consider this option a significant factor would be my tradesman bills I should think that it would be handy to know that I am a crap plumber / carpenter / electrician and could probably ramp the skills up significantly if I were to follow this path rather than to be completely unaware of the whether I could do this stuff or not.

In the meantime of course it is cool just to know the basics of various skills. I can cook, it is unlikely I would ever be a good chef but it good to be able to cook. Same for most skills.

I realise my replies are probably taking this thread wayyyyyy off the initial topic and, if anyone is really upset just pm me to stop replying and I will.
 
I don't think you need to prove to us D&G-ers that it can be done. Looking back at the market over the past 8 years, it's impossible not to make money. It's no different to the share market. While you guys were pushing property sky high, increasing debt exponentially, a lot of this excess money was following into he economy and was shown as company profits.

I didn't have any exposure to property, but did with shares. The share market took 4 years to double between 2003 and 2007. Prior to 2003, it took 11 years to double. I did very well during this period. Again, anyone could have made money in the share market in those years. It was almost impossible to loose. Housing, debt, company profits and the general economy was unsustainable. Just look at the following chart - If you couldn't make money from property in the past few years, something was very wrong.


However it is the smart investor that can do it in periods of 'normal' growth or during a downturn. I think most people agree now that its a myth that house prices double every 7 years.

The only question I have for this 25 years old who has 4 IPs value close to 2M, which is omitted, is how much debt does he carry?

Sustainability.


L.AAussie pretty much set this post straight.

To put the property "myth" straight, it is actually a period of 7-10 years, and

how much debt does he carry?
Lol!:D


Tor:
Me doing well in a really obscure martial art (like not enough people even know about it to be that good at it)?
Me being in Attack of the Clones :eek:(which got me a reference on wikipedia, every nerds dream and, in IT, it is cool to have on your resume, guaranteed to make interview phase hehehe)
Me liking to learn skills such as blacksmithing, brewing, cooking, painting and wanting to get more like electricals, plumbing and carpentry?
I have done a bunch of other things too, simply because I like to learn stuff.

Darn it, it's all about ME!

I appreciate the banter though. Yes, these guys need to be on the TV. This new show is perfect for them.:eek: Very funny.

Regards Jo

..wait for it. . . . . .
 
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I know a 25 years old who has 4 IPs value close to 2M, average salary, not a tigh a**, has travelled overseas etc. He has just moved to into one of the IPs coz-he-can now, and is looking for the 5th one very soon. His first IP was bought in 2003.
It can be done.

That is fantastic. Can you get him to tell his story on this forum? We'd love to hear it.:)

Regards Jo
 
Code:
The only question I have for this 25 years old who has 4 IPs value close to 2M, which is omitted, is how much debt does he carry?
Sustainability.
I am not sure what his debt is. I only know none of the IPs purchass price was >300K. If I remember correctly 2 were in the low 200K and 2 were in the high 200K

That is fantastic. Can you get him to tell his story on this forum? We'd love to hear it.:)
Regards Jo
Sorry, I did mention the forum to him a while back but seemed he was not that interested :)
 
It is not a monkey, it is the character I played in one of the star wars movies.
Sorry mate, didn't mean to offend Xenu. I read some gloomy posts next to what to me looked like a skinned gorilla and wrongly believed you're a Planet of the Apes doomsday scenario nut. My apologies again.
 
Also, is it my imagination or is the entire freakin internet 32? Did they put something in the water in 1976?

Maybe it has to do with the fact that today's 32-year-olds were at the peak "teenage technology guru" age when the net started to become known here (i.e. 14-17 years old around 1990-93).

-Ian
 
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