Profile: Handy Andy
Here is another profile of the speakers! I personally hope I can make it ( baby due anytime) as Andreas story is inspiring and a classic example of why a JOB is no level of security.
read on, Peter 147
Real Name:Andreas
Handle: Handyandy
Location: Sydney
Interests: investing and tax minimisation, tropical fish, travelling for a reason , live in general
Occupation: Company CEO been operating computer service company for last 11 years ceasing operation at end of Sept as have lost contract
Investing Specialities: Business, renovating to hold, SMSF
Aim: Back in 1980 was to be a millionaire. Now to have a million dollar income per year
History: Immigrant from Holland arrived in 1965 at age 10. One of 8 kids so not a pampered childhood. No investment experience in the family.
We bought our first house in '79, worked for same company for 10 years company closed down computer bureau was retrenced with nice handshake in '85 so bought our first investment property.Went overseas for 1.5 years came back with more money bought another investment property. So through '87+ boom we had 3 properties.
Early '93 got my hands on more money so bought another investment property. This one had potential for full blown granny flat, turned into a 3br,2b house and 2br,1b flat.
'94 landed contract to supply booking system. Mortgaged everything to start up company.
Mid '95 paid out all money effectively debt free. Bought a new PPOR then Bought a 400sqm factory unit (includes 70sqm office) and move business to own premises.
'97 bought block of 7 units, '98 block of 6 units, '99 block of 15 units, '00 block of 9 units. Bought a further 6 individual units during this time.
'02 bought 3 townhouses
All properties are in Sydney.
In addition to property we have a substantial investment in shares through our SMSF, also directly and through managed funds.
We build value by renovating and do the unit renovation to a formula, costs $8-10k per unit which means total gutting and reinstall kitchen, bathroom, flooring, paint etc.We have renovated about 30 units to date.
One of the blocks
http://www.somersoft.com/forums/gallery/showphoto.php?photo=626&password=&sort=1&cat=500&page=1
Will be looking for new property investments when I feel the time is right again.