On to the next

[Ramos023]

Hi guys just realized how busy and lazy as a result I have become and haven't been on here for ages!!!

There are so many clever and savvy people posting here, so I have gained a lot of knowledge just generally browsing before bed!

Alittle about me :

im 25 years old ( 26 in August ) and currently have 3IP's.
All in the NSW in the Wollongong region.
1 about 10km from CBD worth approx. $350k conservative price, in which I owe 151k still

It returns $330 per week never put it up as I have had great tenants from day dot.
1 alittle further out 15km from CBD worth approx. $330k conservative price, in which I owe $238k

It rents out for $360 per week as I did do some minor works after purchase

and 1 alittle further again 20 ish kms worth approx. say early $300's which is unencumbered which returns $340 per week.

I work for ALDI in stores, in a management role, in Sydney but have been driving from Wollongong daily as I moved back in with the parentals after the guy I was living with had a family issue ( long story short ) and had his brother come into the room I was in. Anyway that's irrelevant I live with mum and dad for now....... they are happy for me to stay as long as I need so no pressure.

I was just wondering what I should do next? My land tax bill slowly crept up this year over 3k ( tiny I know ) but I was thinking interstate to avoid that figure going higher or something along those lines!


Also where would be the best place to post about finding out how to go about getting a job in real estate. I have found I have a passion for it, and absolutely hate retail and hate driving over 90 mins each way for work. Only reason I have stayed is its money, and I was saving nearly all of the $4400 per month pay


THANKS for looking and thanks in advance for any help

RAMOS

 

[pinkboy]

Hi guys just realized how busy and lazy as a result I have become and haven't been on here for ages!!!

There are so many clever and savvy people posting here, so I have gained a lot of knowledge just generally browsing before bed!

Alittle about me :

im 25 years old ( 26 in August ) and currently have 3IP's.
All in the NSW in the Wollongong region.
1 about 10km from CBD worth approx. $350k conservative price, in which I owe 151k still

It returns $330 per week never put it up as I have had great tenants from day dot.
1 alittle further out 15km from CBD worth approx. $330k conservative price, in which I owe $238k

It rents out for $360 per week as I did do some minor works after purchase

and 1 alittle further again 20 ish kms worth approx. say early $300's which is unencumbered which returns $340 per week.

I work for ALDI in stores, in a management role, in Sydney but have been driving from Wollongong daily as I moved back in with the parentals after the guy I was living with had a family issue ( long story short ) and had his brother come into the room I was in. Anyway that's irrelevant I live with mum and dad for now....... they are happy for me to stay as long as I need so no pressure.

I was just wondering what I should do next? My land tax bill slowly crept up this year over 3k ( tiny I know ) but I was thinking interstate to avoid that figure going higher or something along those lines!


Also where would be the best place to post about finding out how to go about getting a job in real estate. I have found I have a passion for it, and absolutely hate retail and hate driving over 90 mins each way for work. Only reason I have stayed is its money, and I was saving nearly all of the $4400 per month pay


THANKS for looking and thanks in advance for any help

RAMOS

Id say time to move out of mum and dad's pocket and live a life and let them live theirs.

pinkboy

 

[Brady]

Id say time to move out of mum and dad's pocket and live a life and let them live theirs.

pinkboy

Pretty poor comment, you dont know anything of the living arrangement. Just because the OP is back at home doesn't mean living in parents pockets. As for the living lives comment, you might find parents are happy to have their child back home.

Back to OP's questions, jobs in real estate will usually have you moving around alot... you dont like the 90mins of driving each way now... could be more. A job in real estate could be many things, broker, agent, BA, conveyancer... what part actually interests you?

As for land tax I would assume it would be pretty obvious diversify, look interstate. Brissy seems to be the flavour at the moment.

 

[Ramos023]

HAHA I am pretty much only home to sleep! I barely have meals here etc as im always working or out but thanks!! As for you highlighting the saving the entire pay thing, its true I did, but I had the other 1k a week from the rents as well, so both being paid monthly on the 1st for rents and 15th for work I do get a chance to "live"

Looks like ill get back to my research

 

[pinkboy]

I moved back in with the parentals after the guy I was living with had a family issue ( long story short ) and had his brother come into the room I was in. Anyway that's irrelevant I live with mum and dad for now....... they are happy for me to stay as long as I need so no pressure.

Pretty poor comment, you dont know anything of the living arrangement. Just because the OP is back at home doesn't mean living in parents pockets. As for the living lives comment, you might find parents are happy to have their child back home.

The OP looks perfectly capable to live outside mum and dad's house, only circumstance changed that. Doesn't appear the move was to be a live in carer for the parents which would be reasonable reason to move back home. Why not look for a new place to reside as priority instead of looking to make the next buck while mooching off the folks???

If you are living under your parents roof at age 25 and 'paying your own way' and treating the household living arrangements as clinical as living with housemates.......I call BS! If you live under your parents roof, you are going to get meals cooked, washing done....etc, etc, etc!

pinkboy

 

[Brady]

The OP looks perfectly capable to live outside mum and dad's house, only circumstance changed that. Doesn't appear the move was to be a live in carer for the parents which would be reasonable reason to move back home. Why not look for a new place to reside as priority instead of looking to make the next buck while mooching off the folks???

If you are living under your parents roof at age 25 and 'paying your own way' and treating the household living arrangements as clinical as living with housemates.......I call BS! If you live under your parents roof, you are going to get meals cooked, washing done....etc, etc, etc!

pinkboy

I'm 25 pay board/rent, wash my clothes, do my own ironing, expected to cook on different nights (usually I'll go to shops and get fresh veg & meat to cook), when I don't cook I will clean up. Jump on a plane happy to have you over for dinner (but heads up means you're cleaning up ).

 

[pinkboy]

I'm 25 pay board/rent, wash my clothes, do my own ironing, expected to cook on different nights (usually I'll go to shops and get fresh veg & meat to cook), when I don't cook I will clean up. Jump on a plane happy to have you over for dinner (but heads up means you're cleaning up ).

Seems my slightly trolling post has exposed you out, but I do have to admit I had a slight advantage knowing most of that as you said!

I'm not up to scratch on the protocol for interstate dating? I mean, it's a lovely offer for dinner and all, but I would feel slightly awkward being at your parents place - and when I reciprocate, especially so as my wife will be home! Oh, and you're a dude!



pinkboy

 

[starter]

Well you are called pinkboy, can't blame Brady for having the wrong idea.

 

[Ski-bum]

...back to the original question

You've done very well for 25, keep up the good work!

By my calculations, you have a $1M portfolio @ 40% LVR, returning $1030 rent/week. Therefore you should be quite positively geared?

With that much equity available and cashflow from properties, you may want to consider something bigger like commercial or development?

Or keep doing whatever you're already doing - you obviously know how to save and invest.

You're still young, upwardly mobile, sound like a go getter - go and take some risks as you can afford to (and don't be afraid to live a little too)

 

[Ramos023]

...back to the original question

You've done very well for 25, keep up the good work!

By my calculations, you have a $1M portfolio @ 40% LVR, returning $1030 rent/week. Therefore you should be quite positively geared?

With that much equity available and cashflow from properties, you may want to consider something bigger like commercial or development?

Or keep doing whatever you're already doing - you obviously know how to save and invest.

You're still young, upwardly mobile, sound like a go getter - go and take some risks as you can afford to (and don't be afraid to live a little too)

Yes ski you are correct. It started as a hobby and has grown substantially. Most minor works have been completed by myself or father, he is good at painting etc and im not too shabby!

Yeah I think im gonna have to research those possibilities, as in still a newb and don't know how they would affect land tax etc etc
Its actually embarrassing how limited knowledge I have in comparison to alor of people on here!! But plenty of time to learn

haha thanks! I think im gonna try get some real estate qualifications behind me and try my hand in the industry doing something!!