Hello all,
I have been lurking here for some time, after reading Jan Somer's More Wealth From Residential Property, earlier this year. Prior to that book, I read Graham J. Airey's The Property Investor's Handbook.
I'd just like to say that this place has a nice sense of community to it, and I am glad to become a part of it. This is by far the most friendliest forums I've ever read online.
So a little about myself...
I finished High School in 2001, and only 2 days ago, found out I now officially graduate from university. I am 20 years old and currently living at home.
So how did I get interested in property investment?
On A Current Affair a couple of years ago, I remember seeing a segment on residential property investment, and how people are using it to make capital gains in property, (of course, anything on that show, I tend to take with a grain of salt). Anyway, I thought this was very interesting, and naturally talked to my Dad about it. He noted that a few people he knows from work are property investors, so I considered this to be a little "inspiration". Hence, I bought a couple of books, and since, have been getting most of the monthly editions of API magazine.
I have since thought about the kind of property investment I wish to get involved in, and I think the "buy and hold" strategy is best. I would like to retire on the rental income that this property would provide. Retire is a strange word to contemplate, at the age of 20, but I think it is no less important at my age!
I am now at the stage in my life where I can now start looking for a job in my field, after just completing my university degree.
I know it is important in any investment disciple to have some sort of a plan in place, to let one know their direction, how they're going, and where they're at.
At the moment, I would eventually like to start investing, by firstly getting my own PPOR, and to pay that off as quickly as possible. Then, when enough equity has been acquired, to buy some more property, and keep on going. As of yet, I haven't really set a goal for where I would like to be in property investment later in my life, although I know I wish to become "financially independent", and I would love to be able to financially contribute to research that I believe is important, e.g. renewable energy sources, etc...
It would also be really good to be able to still live at home for a few more years with a good job, and buy a place for renting out. This way, I could plough some of my income, as well as the rental income, into paying off the loan as fast as possible. But then again, who knows where I might be looking for a job.
Anyway, I was just wondering if anyone has any past experiences, or advice, perhaps that relate to my position, that may help me, and others, in starting out? I consider that in my position of wanting to enter property investment, puts me in a much better position than my friends, who don't think about this sort of thing.
Thank you very much,
-Merovingian.
I have been lurking here for some time, after reading Jan Somer's More Wealth From Residential Property, earlier this year. Prior to that book, I read Graham J. Airey's The Property Investor's Handbook.
I'd just like to say that this place has a nice sense of community to it, and I am glad to become a part of it. This is by far the most friendliest forums I've ever read online.
So a little about myself...
I finished High School in 2001, and only 2 days ago, found out I now officially graduate from university. I am 20 years old and currently living at home.
So how did I get interested in property investment?
On A Current Affair a couple of years ago, I remember seeing a segment on residential property investment, and how people are using it to make capital gains in property, (of course, anything on that show, I tend to take with a grain of salt). Anyway, I thought this was very interesting, and naturally talked to my Dad about it. He noted that a few people he knows from work are property investors, so I considered this to be a little "inspiration". Hence, I bought a couple of books, and since, have been getting most of the monthly editions of API magazine.
I have since thought about the kind of property investment I wish to get involved in, and I think the "buy and hold" strategy is best. I would like to retire on the rental income that this property would provide. Retire is a strange word to contemplate, at the age of 20, but I think it is no less important at my age!
I am now at the stage in my life where I can now start looking for a job in my field, after just completing my university degree.
I know it is important in any investment disciple to have some sort of a plan in place, to let one know their direction, how they're going, and where they're at.
At the moment, I would eventually like to start investing, by firstly getting my own PPOR, and to pay that off as quickly as possible. Then, when enough equity has been acquired, to buy some more property, and keep on going. As of yet, I haven't really set a goal for where I would like to be in property investment later in my life, although I know I wish to become "financially independent", and I would love to be able to financially contribute to research that I believe is important, e.g. renewable energy sources, etc...
It would also be really good to be able to still live at home for a few more years with a good job, and buy a place for renting out. This way, I could plough some of my income, as well as the rental income, into paying off the loan as fast as possible. But then again, who knows where I might be looking for a job.
Anyway, I was just wondering if anyone has any past experiences, or advice, perhaps that relate to my position, that may help me, and others, in starting out? I consider that in my position of wanting to enter property investment, puts me in a much better position than my friends, who don't think about this sort of thing.
Thank you very much,
-Merovingian.
