Tell us about your lifestyle (wages, job, age)

[our obsession]

...and I can see you being wealthy too, want2bewealthy!

I think it is just fantastic you are earning that money, holding down 2 x jobs, ALREADY have an IP and have found a place to rent for $50.....and can save like the blazes.

Good for you and may you have lots of lobsters to enjoy in your lifetime.

You are just a credit to yourself and quite inspirational.

At 26....one smart dude.

 

[Glucose]

I too am inspired. Wish I'd started in my twenties. You WILL be wealthy & sooner rather than later, with your great attitude!

 

[alexlee]

I earn bugger all, Im 26, about $40,000 after tax working two jobs,
Although I dont spend any money on much, I save most of it, Im currently paying $50 a week rent and have 1 IP, Im saving for more right now and can see myself being wealthy in the future, thats a good thing cause I really love lobsters

Great stuff, W2BW. And $40k isn't bugger all. I bought my first IP at age 22 when I earned $35k BEFORE tax. I think my after tax was something like $25k.
Alex

 

[pursefattener]

Age 40 Wife is 39
Dairy farmer
1.6k
Been married 15 years just gone
Have 3 piglets B12 G10 B7
Been investing since 1988.
Numerous propertys including residential , rural , industrial both in Aus and NZ

 

[crazylikeafox]

1. 18
2. Student
3. 33,000
4. Single
5. 0. I'm aiming for the biggest deposit I can while I look for something perfect for me.

 

[Body-By-Jake]

29
Sales
$190k +
Married, 1 son
$1m PPOR, no IPs - but 9 buy & sell homes so far

 

[oc1]

Me:

1. Age: 28
2. Job Profession: self-employed
3. Annual Salary/Wage from job (before tax): Zero
4. Single
5. Year of 1st IP purchase was 2003 + Total IPs: over 50 individual titles with some as joint ventures

Cheers

Oscar

 

[wealthyjay]

1. 36yrs
2. Profession: Am a Site Service Chemist in the Oil & Gas game
3. Salary: $90K before tax, Wife $50K
4. Married, no kids....yet
5. Just got the PPOR, well most of it as we are building at staying with the inlaws. Not sure about property now, strongly considering a move more heavily into share based investments.

 

[WBG Redcliffe]

1. 41 years
2. Queensland Police officer
3. 65k
4. Married, 3 kids, one with multiple disabilities. She is the reason i have started investing in property. Sick of asking for help from govt.
5. Renovated/built 5 over the past 18 months and still hold 3 IP's + PPR. Managed to pay out most of my PPR with the profit from 2 sold.

Its exciting stuff once you work out a system to create the profit up front.

Wayne

 

[nats12]

1. Married, both 26
2. Me: buyer, him: property research manager
3. Salary pre-tax: combined $200k+
4. Married, no kids
5. PPOR plus 2 investment properties.Currently shopping for a 3rd.

 

[BoatBoy]

Probably get shot down in flames here, but does it seem that the people here with LESS than $70k total earnings hold more property than those that earn MOREthan $70k total earning's.????

Some of the numbers people earn is a real eye opener.

Looking back I see the same thought's here in post 170 and more comment's after.

http://www.somersoft.com/forums/showthread.php?t=11443&page=12



BB

 

[nats12]

Boatboy, this can vary greatly by people's mechanism and pathway to wealth.

Owning a PPOR and 10 properties worth an average of $150k each in regional locations and being leveraged at 80%+ is very different to owning a mortgage free PPOR and 3 or 4 inner suburb capital city properties worth $500k each and leveraged at say 30%. The latter is much closer to retirement than the former when you look at current market dymanics, historic capital growth and potential rental returns. Total net assets would be a much better indication of overall situation.

statistics are just statistics and don't say anything of a person's risk profile, personal time to be able to invest, personal ambitions to enjoy life, family situation etc.

it's great people with below average incomes are doing above average investing, but we're all here for an end game of enjoying life and we all have different ways of doing it.

 

[BoatBoy]

Boatboy, this can vary greatly by people's mechanism and pathway to wealth.

Owning a PPOR and 10 properties worth an average of $150k each in regional locations and being leveraged at 80%+ is very different to owning a mortgage free PPOR and 3 or 4 inner suburb capital city properties worth $500k each and leveraged at say 30%. The latter is much closer to retirement than the former when you look at current market dymanics, historic capital growth and potential rental returns. Total net assets would be a much better indication of overall situation.
statistics are just statistics and don't say anything of a person's risk profile, personal time to be able to invest, personal ambitions to enjoy life, family situation etc.

it's great people with below average incomes are doing above average investing, but we're all here for an end game of enjoying life and we all have different ways of doing it.

I would agree with that, as long as they are asset's and not possesions.

BB

 

[nats12]

Yes agree also - an asset is as per Rich Dad Poor Dad classificatin - has to provide a return to the owner and grow in value, not decline.

Which wipes any car from the list in case anyone out there was thinking a car is an asset.

 

[kathryn d]

I had a mortgage free PPOR once.
Then I decided to use the equity and bought more properties.Now my "job"basically pays my mortgage (takes 75% of my take home pay).
I only make 28K a year,but 100K+ in rent.

 

[tobe]

Age 34

Mortgage Broker

Salary $35ky Car allowance $10ky Bonus/commission $10k/y

Engaged, she has 2 kids, I have 3 chickens and some goldfish

First IP in 2002 now 5 IPs, living in fiancee's PPOR.
gross property asetts 650k, net property assetts 70k.
-ive cashflow of $75 per week.

 

[BoatBoy]

it's great people with below average incomes are doing above average investing, but we're all here for an end game of enjoying life and we all have different ways of doing it.

Indeed, but a lot that are on big incomes that could achieve so much, so easily, seem not to be doing anything.

I'd like to think that if we were given the opportunity to have a couple of hundred k coming in , my lifestyle would'nt really change from what it is now.

I'd reckon we'd control 20 more properties than we do now though.

I see this all the time, people I know earning the big buck's who can't afford to buy an IP, but can alway's afford the new car, $200 dinner and the new Mobile Phone/holiday/ipod etc etc.

All thinking Bloss and I are idiot's for not spending the $$$ on the thing's they spend earning's on , my old man included.

What they fail to understand is that they may not earn those big buck's forever, and that we plan to retire from work at 45, whereas they will work till they are 65 and then wonder where all the $$$ went.

BB

 

[BoatBoy]

Age 34

Mortgage Broker

Salary $35ky Car allowance $10ky Bonus/commission $10k/y

Engaged, she has 2 kids, I have 3 chickens and some goldfish

First IP in 2002 now 5 IPs, living in fiancee's PPOR.
gross property asetts 650k, net property assetts 70k.
-ive cashflow of $75 per week.

Good on ya Tobe, you seem well on your way.

BB

 

[HockingWA]

Age: 23
Sales rep earning 70kish + Fully maintained vehicle and mobile etc.
Single (Not in defacto or married anyway) no kids that I know of. (Hopefully none floating around Europe)
Only got my PPOR for the moment but looking to get a IP portfolio right now basically.

Cheer

 

[Nards]

Wow! What a great portfolio at such a young age! Would love to hear your story, of how you got started, and continued to buy property, and what structures you use etc. Also what was your inspiration?
I'm sure many others here would love to hear you story - how bout starting a thread?? Would be a great inspiration/motivation!

Cheers, Nadia