New member - Adelaide

[Zincsilv]

Hi everyone,

I have been reading this forum sporadically and have only recently registered. It has been a very informative and great resource so far and I have really been inspired by many members on here!

I thought I'd better introduce myself before doing too much else. My name is Jen and I'm a 25 y.o. lawyer, currently in the Commercial Litigation team, but also have a commerce degree. Hopefully that will assist with property investing.

I bought my first PPOR in September 2009 and currently own shares, but am looking to purchase my very first IP in the next few months (once I receive the results of my performance review, of course).

I am very keen on embarking on property investing with a long term goal of owning 5 properties within the next 10 years (perhaps I'm being too ambitious...)

Given the amount of information, I'm not quite sure where to even start. It seems that the more I read, the more I realise how little I know! Quite a humbling experience.

I should probably start with a good mortgage broker in Adelaide to determine how much equity I have built up in my PPOR before doing anything else, so I definitely welcome any suggestions.

I look forward to interacting with you all, and hopefully can contribute in due course!

Have an excellent day!

Jen

 

[buzzlightyear]

Its not unexpected when starting out to say I want x properties in x years. I was exactly the same. Let me ask you this, are you referring you established inner city properties, apartments, regional properties, commercial properties?

For example, it may be better to say, in 10 years, I want to have a passive income of $150,000 from a mix of shares, properties. Of course planning possible marriage/family, wanting to start a business and your own home will all need to be factored in. That at least allows you to quantify and frame the task ahead of you.

BTW, 5 properties in 10 years will be a no brainer if that's what you want. The first is always the most difficult.

 

[Zincsilv]

Im looking more at established residential properties in the suburbs surrounding the city, at least to start off with. Once I'm more familiar with property investing, I may look at branching out. You're definitely right that the first is always the hardest. I'm still very much a newbie!

 

[Corey Batt]

You should read the posts of Hobo-Jo on the housing market, he's from Adelaide too!

Might give you a different perspective to some of the views perpetuated. Remember two sides of the coin.

 

[tarah]

Hi Zincsilv,

If you buy in popular coastal suburbs or close to city locations you normally get consistent growth in SA. A good mix of houses and units works well for a mix of CG and CF.

You should read Jan Somer's books and Michael Yardney has a good book 'How to grow a multi-million dollar property portfolio in your spare time'.

If you want a good mortgage broker in SA, Wendy Higgins is excellent. She owns the franchise below and has multiple properties herself.

3/670 Anzac Highway
GLENELG EAST SA 5045
Tel: 08 8376 8168
Fax: 08 8376 8167

Hopefully see you for the dinner on the 8th.
Tarah

 

[Zincsilv]

Hi CJ, thanks for your reply, definitely agree there are lots of different perspectives out there! I will have a look at his posts! Thanks

Hi Tarah, what's CF? I will definitely start reading various books as a starting point. I can't make the 8th because I have a committee meeting that night! Pls keep me posted for the next one though!

I have a few questions that I posted in a thread call "new Adelaidean" in the Where To Buy forum. If you guys have a moment, I would be very grateful if you could consider them! Any suggestions at all would be great!

 

[tarah]

CF is cash flow. The next meeting is 6th July and I will let you know where it is.