Hi Somersoft

Hi,

After noticing several threads of newbies introducing themselves, I thought id jump on the thread-wagon and say hi

My name is Kayne, I'm from Perth, 26yrs old working as a chef (FIFO) and starting on my investment journey.

I have been educating myself on investing over the last 6-9months, books, magazines, forums etc.

I Have been inspired into action by some of the usual suspects; Chris Gray, Kiyosaki, Steve McKnight, to name a few, not to mention all you guys here.

Currently on the hunt for my first IP, hopefully decide on one in the next couple of weeks. In 10 months time plan is to rent out my current PPOR as IP#2, leading onto IP's 3 - ??

My plan is to buy and hold a mixture of brand new villas/townhouse along with properties to do minor cosmetic renos on. Intending to have a nice balance of tax benefits, better yields, low maintenance from the villas and opportunity to create equity via renos.

End game? Lots of IP's hopefully :) ...One of my biggest hurdles so far is coming up with a number id be comfortable leaving the rat race on and working backwards like many of you suggest.

So that's the general plan in a nutshell... though I daresay in need of a lot of fine tuning.

Look forward to talking to and learning from all of you in the future and I'll apologise now for all the dumb questions to come!!!
 
Welcome aboard and good luck with your journey, you have come to the right place.

Hope your a decent chef, come accross some shocking food out there :D
 
End game? Lots of IP's hopefully :) ...One of my biggest hurdles so far is coming up with a number id be comfortable leaving the rat race on and working backwards like many of you suggest.

It's not really about the number of IPs, it's more about the number they deliver to you.

* How much do you want when you leave the rat race?
* What $$ amount of assets would deliver the income you want? (you need to figure out what sort of yield is realistic).
* Now figure out how to build a portfolio of that value and yield. This will determine how many IPs you need and what the numbers for the IPs look like.

Work through this process and you'll start to put together a plan that you can follow.
 
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