My Story
- Thread starter Nathan
- Start date
Nathan,
This was 18mths ago.
On your website it says you achieved 1 million in equity at 21?
Thanks for the clarification.
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Hi JIT,
Have added the figures of holdings at that time again I wasnt taking in all factors.
First House $248k loan $192k val $350k
T/H $140k loan 125k val 250k
House $234k loan $222k val $360k
House $246.5k loan $202k val $310k
Unit $160k loan $160k val $210k
TH $137k loan $132k val $195k
th $130k loan $125k val $220k
TH $173k loan $164k val $240k
Unit $165k Loan $150k val $230k
Loan $1472000 Val $2365000
These were actual numbers from the period, also take into consideration my portfolio was purchased in sydney and there was movement in marketplace where it fell in price between 2004, and 2008.
And this was limited to holdings at this point in my investing period, not ones which were sold, and not including other asset classes I was purchasing at that time (I held a signifigant number of Centro shares too which I got raped on) and I invest in coins too, along with surplus cash holdings.
*bump*
Hey Nathan, been a while since you updated the "story" thread
Thanks Mate!
Current holdings 23 IP's.
$4,200,000 (approx assets)
$2,100,000 (approx debt)
Ask more questions away.
Hi Nathan,
been following your story and i must say it is impressive! Well done!
A couple of questions mate if you don't mind. How have you gone getting finance so far? I am assuming you turn over a lot of these properties to enable cash flow, further deposits etc. Do you have a percentage of properties you hold to what you sell or no hard and fast rules?
Cheers mate, and keep up the good work
Morty
been following your story and i must say it is impressive! Well done!
A couple of questions mate if you don't mind. How have you gone getting finance so far? I am assuming you turn over a lot of these properties to enable cash flow, further deposits etc. Do you have a percentage of properties you hold to what you sell or no hard and fast rules?
Cheers mate, and keep up the good work
Morty
Hi Morty,
I keep like 80% of them. no hard or fast rules.
I like to keep everything however buy the occasional flip which may be not in my best interest to keep. e.g. poor yield, or money borrowed at high interest etc...
Financing can be an issue however if you set your purchases up correctly you shouldnt hit the "wall".
Nathan.
No one can predict the market with 100% accuracy, I think its important we all do own due diligence and decide that for ourselves. Read lots of the posts on here and subscribe to some investment magazines like API to broaden your understanding. Only you can make the decision of where to buy. Good luck in the journey.
Good luck in the journey.Hi Luckyone,
Firstly thanks for the kind words.
Secondly I dont believe in there being such advice as timing the market I reckon I could sniff around your backyard and find a half dozen good buys in a couple of days if I were to venture there.
When purchasing I focus on the deal not on the location now days. If the numbers dont work dont buy!
If you just set up a minimum standard with the numbers and take any emotion out of the equation I think this could be the greatest key.
Nathan.
Thanks Mate!
Current holdings 23 IP's.
$4,200,000 (approx assets)
$2,100,000 (approx debt)
Ask more questions away.
So you wouldn't be able to live off that holding alone would you? You have to keep flipping or renovating for cashflow?
Thanks for your reply Nathan, i really appreciate it! So how do you do your research on recent property sales prices? We have a great site in ACT called allhomes.com.au, but lately the past sales information doesn't seem to be getting updated all that regularly, so not sure how else I can find out this info?
On another note, I've dived in and bought 2 IP's here in Canberra in the last couple of months (though I have a long settlement on both so haven't settled on either yet). I really think the market will do well here, but want to know whether I should be looking elsewhere for my next purchase. And if so, how do I make sure I don't buy over the real value?
On another note, I've dived in and bought 2 IP's here in Canberra in the last couple of months (though I have a long settlement on both so haven't settled on either yet). I really think the market will do well here, but want to know whether I should be looking elsewhere for my next purchase. And if so, how do I make sure I don't buy over the real value?
That sounds very vinegary mate.....not much love and compassion there for your fellow man. How do you sleep at night, knowing you have no emotion towards a piece of dirt and some bricks. You come across as very harsh.
I love my bricks, especially the faux fibro ones.
Why do you assume that he could not live off of this? From what I know of Nathan, he invests in places with a higher than average yeild. Sitting on gearing of around 50%, he is in a very healthy cashflow position and I would presume that flipping and reno's are just gravy.
Thanks Invstor,
I have average yeild of 14% and LVR of 50%, you dont think that there is fat in there to live off?