Hi All,
I wanted to ask some of the people who have been there before who have seen great success and failure in there times investing what you thought of my strategy! I fully expect to be panned for this but having exchanged on my first property recently and wanting to quite the daily grind of working I am doing what i can to save for deposits and buy property!
My Goal is by the time im 30 ill be close to not having to work again (im 26 now)
(ALSO by posting this on a forum I feel that I’ll be accountable for what I have said and actually spurr me onto fulfilling it!!)
Mt strategy is to buy atleast three properties this year. Target properties are small one to two bedroom units around the 150,000 to 200,000 Mark within regional areas (metro if possible) with returns of 7-9%
So far i have one that i have exchanged on with the help of a BA showing 9.53%. Each month i bank 2.4K easy so ill pay this into a offset (tenants rent cover all out goings with money to spare) all will go into offset. So mathematically this will work (my accountant also agrees). (Exchanged property bought for $132,500 comparable is circa 155,000 - 160,000) I’ll use the Same BA next time as the results are fantastic
The following year I should be able buy similar properties or properties such as houses requiring some renovating (my confidence should have increased more so by then) I may buy 2-3 again dependant on the amount of success I have had with the renovations to this point.
I earn good money for a young person (circa 70K+) with it to go upto 80-90K around August. I have moved to a regional town to increase my pay (plus not knowing many people out here i have heaps of time to study markets and read books)
This is the two year goal,3-5 Year Goal is to have found a investment system so that I can invest in more properties and speed up the timing to buy and Hold more properties. I’m assuming that there will be hiccups along the way also and will be looking to minimise this by asking from the outset what I should be doing.
5 years ill be 31 and HOPEFULLY we’ll down the investing path!
This is a rough Mud Map of where I want to see my investing heading over the next couple of years, I want to be able to achieve this.
Please feel free to comment and give suggestions on what you think. Thanks again, I couldn’t have found this forum more help, even when reading other peoples threads… I maybe becoming addicted to this!
I wanted to ask some of the people who have been there before who have seen great success and failure in there times investing what you thought of my strategy! I fully expect to be panned for this but having exchanged on my first property recently and wanting to quite the daily grind of working I am doing what i can to save for deposits and buy property!
My Goal is by the time im 30 ill be close to not having to work again (im 26 now)
(ALSO by posting this on a forum I feel that I’ll be accountable for what I have said and actually spurr me onto fulfilling it!!)
Mt strategy is to buy atleast three properties this year. Target properties are small one to two bedroom units around the 150,000 to 200,000 Mark within regional areas (metro if possible) with returns of 7-9%
So far i have one that i have exchanged on with the help of a BA showing 9.53%. Each month i bank 2.4K easy so ill pay this into a offset (tenants rent cover all out goings with money to spare) all will go into offset. So mathematically this will work (my accountant also agrees). (Exchanged property bought for $132,500 comparable is circa 155,000 - 160,000) I’ll use the Same BA next time as the results are fantastic
The following year I should be able buy similar properties or properties such as houses requiring some renovating (my confidence should have increased more so by then) I may buy 2-3 again dependant on the amount of success I have had with the renovations to this point.
I earn good money for a young person (circa 70K+) with it to go upto 80-90K around August. I have moved to a regional town to increase my pay (plus not knowing many people out here i have heaps of time to study markets and read books)
This is the two year goal,3-5 Year Goal is to have found a investment system so that I can invest in more properties and speed up the timing to buy and Hold more properties. I’m assuming that there will be hiccups along the way also and will be looking to minimise this by asking from the outset what I should be doing.
5 years ill be 31 and HOPEFULLY we’ll down the investing path!
This is a rough Mud Map of where I want to see my investing heading over the next couple of years, I want to be able to achieve this.
Please feel free to comment and give suggestions on what you think. Thanks again, I couldn’t have found this forum more help, even when reading other peoples threads… I maybe becoming addicted to this!
