Do your friends/family invest in property?

[nhg]

I have one friend and one sister who does only. The friend got into it mostly on advice from me. I've passed info on to a few other people who have asked questions but they have never run with it. Most of the people around me seem to be be struggling just to stay afloat. not sure how I made the break but thank god we have and not stopped with one IP.

My good mate, and housemate have both contacted a mortgage broker and accountants etc this week.

Putting offers in on 2 properties. I'm actually a little proud of myself, not as much as I am for them though. This was a huge mind-shift for them.

 

[Truly Exotic]

no, nobody does,

but yet most are so willing to give expert advice on it

 

[nhg]

no, nobody does,

but yet most are so willing to give expert advice on it

When I started my dad would get really upset: "why didn't you ask me for advice", or "ask your uncle, he has a couple of properties".

I would respond:
"I asked my solicitor for legal advice, my accountant for tax advice and my mortgage broker for mortgage advice, then I consulted a few 'mentors' who have multi-million dollar portfolios what they thought. I didn't have any questions left to ask".

Let's just say, for my mental well-being, I've learnt to ask his advice. Sometimes people just wana feel like they can contribute (and he has), everyone has something to share.

 

[see_change]

We have lots of friends who invest in property .

Sim , jaques , handyandy , Michael G , Yuch etc ..........

But outside our somersoft friends only one .

Daughter has just bought her first .

Cliff

 

[Richard Feynman]

^ Good on her!

Any help from the folks (other than information)?

 

[ww2_nut]

None of my friends or close family have IP's.
My parents are totally against the whole idea. Only believe in shares
Parents in law would love to invest, but don't have the $$$$$$$$$
My mates (gen y) are living for now and living from pay cheque to pay cheque.
I was lucky and started working from the age of 15 in a piggery, just so I had enough money to buy my PPOR at the age on 18.. My mates thought I was nuts...

 

[Deltaberry]

I guess the question is, how do they fund their passive income and retirement income?

 

[see_change]

^ Good on her!

Any help from the folks (other than information)?

Less than what we got from our parents 30 years ago... And she's paying it back over next 2 years .

Cliff

 

[Richard Feynman]

Less than what we got from our parents 30 years ago... And she's paying it back over next 2 years .

Cliff

Good stuff. My folks lent me a little for my PPOR which was paid back in under a year. I'd have missed the boat in a rising market otherwise.

 

[Nth Brisbanite]

Some of my family invest in property. I don't like talking too much about investing as they would probably think of me as a "tall poppy" which they'd love to knock down. In some of our family gatherings, investing (particularly in property) is banned as the non-investors get sick of the investors talking about property. Most of my friends don't invest in property and I know that a few of them would get jealous if I mentioned that I did.

All in all, about 25% of my big family invest in property while virtually none of my firiends do so.

 

[Esel]

1) none of my close family or in laws do, but four friends have one IP each. In three cases it is a unit they bought as their first PPoR that they now rent out.

2) I've been researching Property investment recently after a conversation with a friend.

 

[libertyrx]

We have 2 friends that have multiple properties (3-4) who have held them since mid '00's or earlier.
couple of people at work do as well but we only have quick 'private' chats about it.
Family wise my sister has an ip & my parents did for a while, but we dont talk about it on the out-laws side as we are now apparently the 'rich' ones...

 

[Richard Feynman]

For my records, presently, 69% have answered the poll with a yes.

 

[tobe]

soes friends on somersoft count? otherwise no.

 

[Wirra436]

I have the old man to thank for my property Investment journey.

I started a little later in my journey (28yo)
Was not ready to invest earlier on in the years.

but yes...... The old man did well with his portfolio, figured I would follow suit and try and trump him hahaha.

Cheers,
Wirra

 

[Norwester]

So I voted no........


My parents are ignorant of any investing at all, my siblings are pretty much the bucket of mud crabs anology. Seriously don't even bother bringing it up, and always shut it down when they do......

Mrs Nors family are pretty much the same although not quite as bad.

I have the old man to thank for my property Investment journey.

That's good, I'm sure he would be quite proud of you.....

Ciao
Nor

 

[oc1]

I have the old man to thank for my property Investment journey.

I started a little later in my journey (28yo)
Was not ready to invest earlier on in the years.

but yes...... The old man did well with his portfolio, figured I would follow suit and try and trump him hahaha.

Cheers,
Wirra

Similar here. The folks have always invested so I've naturally been curious since a young age.

Family gatherings always involve property development discussions.

Plenty if friends in the industry too.

 

[Coota9]

Son 21 invested in investment property(2 bedder unit) before he has brought PPOR and brother in law brought property via SMSF this year..

 

[china]

Almost everyone I know has some share investments but are not active investors. I don't know many property investors.