Hi guys - first post and im already asking for help lol! I promise I will contribute something in the future when the need arises. But when I came across the forum, i thought I would gain the opinion of some like minded and not so like minded individuals who I have no personal connection with (yet)
So currently, my situation is Im a 26 (27 mid march) single male living at home with very few living expenses. I've been catching the same old tin can to work every morning for the past 2 years and 10 months doing the same telesales job and I am completely over it!
Background info - I took the job initially to earn a "quick buck" to ultimately build a small portfolio of 10 positive cashflow properties so I will have a very basic income for me to survive on before I take my "risk" in a business, property venture, becoming a rockstar etc. So far I have been grossing 95 - 100K per annum and have managed to buy only 2 properties in that time (yes i know im way off lol)
Properties and financials - the 2 properties I have are worth in the region of 880k combined of which i own 20% of. I have 100k in cash sitting in an offset and currently I am slightly negatively geared, however, I am in the midst of a reno project on property no.2 which should bring my combined cashflow to positive by about $150 a week after holding costs
Dilemna - Im over my job. If I was an emotionless robot I would probably have made it by now, or would have the mental strength to achieve my initial goal, but a few hundred dials/3 - 4 hours pitching something I have absolutely no interest about every day for almost 3 years will do anyones head in! That said, the job is quite easy for me and although Im tied to my desk between 9 - 5, I have the freedom to conduct "other business" with the internet, phone etc - basically a cruisey environment. If I were to leave, I will be leaving a pretty "easy" 100k a year and I will definetly not do another 9 - 5 I dont care about because I know in another 3 years time, I would be back where i am now but with less money than what i would have if i stayed...
My ultimate goal is to be a full time residential developer. I have been toying with the idea of taking a sacrifice and get the relevant credentials/start from the bottom at a construction/development company (not REA) and learn as I work, however, of all the successful developers ive spoken to, the way is really to "tough it out sweeping streets" and develop your own house, townhouse, villa, apartment etc and work your way up which i dont feel i am anywhere near a capacity to do so even on a small scale (aside from renos etc)
On the other hand I feel I am quite entreprenuerial, good at sales and have always wanted to start my own business importing/exporting goods from china. I have done a great deal of research on this and am at a stage where its pretty much a matter of travelling to china, buy a specific stock from suppliers ive found, and sell online/ebay/wholesale. (Yes it will not be nearly as straightforward as this and I do recognise the risk involved)
There is also ofcrouse an impending need (or at least my girlfriends need ) to get married, buy a place, live together etc etc which will significantly impact my career goals as mentioned above
What would you do if you were in my shoes?
(reading over that i sound like a typical gen y-want-everything-today-and-dont-want-to-work-for-it-snob lol, but hey, i guess this IS an investment forum where most people want to make as much money in the least amount of time possible!)
Thanks very much in advance - your advice is hugely appreciated!
So currently, my situation is Im a 26 (27 mid march) single male living at home with very few living expenses. I've been catching the same old tin can to work every morning for the past 2 years and 10 months doing the same telesales job and I am completely over it!
Background info - I took the job initially to earn a "quick buck" to ultimately build a small portfolio of 10 positive cashflow properties so I will have a very basic income for me to survive on before I take my "risk" in a business, property venture, becoming a rockstar etc. So far I have been grossing 95 - 100K per annum and have managed to buy only 2 properties in that time (yes i know im way off lol)
Properties and financials - the 2 properties I have are worth in the region of 880k combined of which i own 20% of. I have 100k in cash sitting in an offset and currently I am slightly negatively geared, however, I am in the midst of a reno project on property no.2 which should bring my combined cashflow to positive by about $150 a week after holding costs
Dilemna - Im over my job. If I was an emotionless robot I would probably have made it by now, or would have the mental strength to achieve my initial goal, but a few hundred dials/3 - 4 hours pitching something I have absolutely no interest about every day for almost 3 years will do anyones head in! That said, the job is quite easy for me and although Im tied to my desk between 9 - 5, I have the freedom to conduct "other business" with the internet, phone etc - basically a cruisey environment. If I were to leave, I will be leaving a pretty "easy" 100k a year and I will definetly not do another 9 - 5 I dont care about because I know in another 3 years time, I would be back where i am now but with less money than what i would have if i stayed...
My ultimate goal is to be a full time residential developer. I have been toying with the idea of taking a sacrifice and get the relevant credentials/start from the bottom at a construction/development company (not REA) and learn as I work, however, of all the successful developers ive spoken to, the way is really to "tough it out sweeping streets" and develop your own house, townhouse, villa, apartment etc and work your way up which i dont feel i am anywhere near a capacity to do so even on a small scale (aside from renos etc)
On the other hand I feel I am quite entreprenuerial, good at sales and have always wanted to start my own business importing/exporting goods from china. I have done a great deal of research on this and am at a stage where its pretty much a matter of travelling to china, buy a specific stock from suppliers ive found, and sell online/ebay/wholesale. (Yes it will not be nearly as straightforward as this and I do recognise the risk involved)
There is also ofcrouse an impending need (or at least my girlfriends need ) to get married, buy a place, live together etc etc which will significantly impact my career goals as mentioned above
What would you do if you were in my shoes?
(reading over that i sound like a typical gen y-want-everything-today-and-dont-want-to-work-for-it-snob lol, but hey, i guess this IS an investment forum where most people want to make as much money in the least amount of time possible!)
Thanks very much in advance - your advice is hugely appreciated!
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