Hey Guys,
I?m currently building the foundations of my strategy and would like some advice/suggestions/criticisms.
What are some good strategy pointers for someone who will be on good income in their 20s & 30?s. (e.g. $100-150k p.a. at age 25 & $250-350k p.a. at age 30 and beyond). PS No, I?m not in the mines ? I?m in finance.
I?m planning to focus on land in desirable and scarce areas (e.g. Sydney?s eastern suburbs). The reasons are:
I can afford the neg. equity
Low risk
Aiming purely for CG
Potential for development, Reno?s, subdivision etc.
I have project manager/building contacts who I trust
Planning on setting up PTY LTD company purely for investments and it will most likely be the owner of the properties.
I?m 23 at the moment and have a CF Neutral 2 bed unit within 5km of Brisbane CBD (purchased Dec-14). Will most likely purchase another 1 or 2 in Brisbane/Sydney within the next 1-2 years which should give me some good equity buy the time I?m 30 to either sell/leverage for land/house purchases in those desirable areas. From there my property net worth should skyrocket depending on depending on no. of development, purchases etc.
Does this sound like viable strategy?
I want to make the best use of my 2 strong points: 1) High income and 2) multiple properties by mid 20s
Any advice greatly appreciated.
I?m currently building the foundations of my strategy and would like some advice/suggestions/criticisms.
What are some good strategy pointers for someone who will be on good income in their 20s & 30?s. (e.g. $100-150k p.a. at age 25 & $250-350k p.a. at age 30 and beyond). PS No, I?m not in the mines ? I?m in finance.
I?m planning to focus on land in desirable and scarce areas (e.g. Sydney?s eastern suburbs). The reasons are:
I can afford the neg. equity
Low risk
Aiming purely for CG
Potential for development, Reno?s, subdivision etc.
I have project manager/building contacts who I trust
Planning on setting up PTY LTD company purely for investments and it will most likely be the owner of the properties.
I?m 23 at the moment and have a CF Neutral 2 bed unit within 5km of Brisbane CBD (purchased Dec-14). Will most likely purchase another 1 or 2 in Brisbane/Sydney within the next 1-2 years which should give me some good equity buy the time I?m 30 to either sell/leverage for land/house purchases in those desirable areas. From there my property net worth should skyrocket depending on depending on no. of development, purchases etc.
Does this sound like viable strategy?
I want to make the best use of my 2 strong points: 1) High income and 2) multiple properties by mid 20s
Any advice greatly appreciated.