What do you wish you would have done differently

roypropertyinv

roypropertyinv

For all the successful investors out there, I have a question for you.

When you were just starting out in property investing, what do you wish you had done differently to what you actually did?
 
Thanks Y man. A very interesting read.

1 question. What made you think investing in property may not be as efficient or effective to build wealth in the next decade? You posted that in 2006. Just curious. And were you thinking of an alternative? and now 7 years later, what's your opinion on that.

Cheers

leo
 
LeoT said:
1 question. What made you think investing in property may not be as efficient or effective to build wealth in the next decade? You posted that in 2006. Just curious. And were you thinking of an alternative? and now 7 years later, what's your opinion on that.
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Yeah.... I'll do a "revisited" series of interviews hopefully, including myself.

At the time, we were starting to hit the serviceability wall (in fact we hit that wall in the following year!).

Wanted more leverage, so used the equity in the IP's as collateral for margin loans. Even that wasn't enough, so went into ETO's too :D

Was going great guns.... until something people call the GFC came along....

The Y-man
 
The Y-man said:
Yeah.... I'll do a "revisited" series of interviews hopefully, including myself.

At the time, we were starting to hit the serviceability wall (in fact we hit that wall in the following year!).

Wanted more leverage, so used the equity in the IP's as collateral for margin loans. Even that wasn't enough, so went into ETO's too :D

Was going great guns.... until something people call the GFC came along....

The Y-man
Click to expand...

All out guns blazing! I love it! It suited your risk profile so awesome. Did you manage to mitigate your risks somewhat from an event like the GFC? I know its a bugger mate.

Leo
 
I can summarise what I would have like to have done differently in just two words: Start earlier!

Sure I've made mistakes along the way, but I think that mistakes can become great lessons, if you're willing to learn from them.
 
I don't think I would change anything.

We raised our family and paid off our PPOR asap.

When I was 44 we purchased our first rental property...and then we retired 6 yrs later.
 
kathryn d said:
I don't think I would change anything.

We raised our family and paid off our PPOR asap.

When I was 44 we purchased our first rental property...and then we retired 6 yrs later.
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Hi Kathryn,

Its really amazing that you've achieved your dreams, and so early on! Well done! Enjoy the fruits of your labour!

Leo
 
I would start earlier and would not sell anything. I always hunted the quick profit rather than looking long term. If i had a 10 year plan rather than a 2 year plan i would be retired. Still have another 7 years i estimate.
 
Haha to OP, i'm not sure i can post on this thread - i feel like im a loooooong way of being considered a 'successful investor', especially in these circles!

Things i could've done better?

Build a great like-minded network as early as possible. I'm a people person, learning from people is a great way for me to become better.

Cheers,
Redom
 
roypropertyinv said:
When you were just starting out in property investing, what do you wish you had done differently to what you actually did?
Click to expand...

Don't rush.

Whilst it's important to be decisive and not get bogged down with paralysis analysis - it's also important to not rush things. Just because you've got some equity or a deposit sitting there - doesn't mean you should rush out and buy the first thing you see.

Cheers

Jamie
 
roypropertyinv said:
For all the successful investors out there, I have a question for you.

When you were just starting out in property investing, what do you wish you had done differently to what you actually did?
Click to expand...
I have done ok but I think I have been overly cautious when I could have made my money work for me. I passed up some pretty decent opportunities because I thought they were "overpriced" at the time but I was completely wrong.
 
I would've bought more western Sydney cheapies rather than regionals. Mind you at 9.5pc interest rates we probably couldn't have covered the negative gearing of any more properties at that time. We would be taking semi retirement now if we had bought 4 more back then.

I look around at properties I'd dismissed back then - old houses on big blocks that could be subdivided or at least developed and strata titles now. But back then any sort of development would've been beyond me.
 
perthguy said:
I have done ok but I think I have been overly cautious when I could have made my money work for me. I passed up some pretty decent opportunities because I thought they were "overpriced" at the time but I was completely wrong.
Click to expand...

I am still doing this now and I find it soooo difficult to overcome!!!!!
Everything look so expensive.

And I wish I had invested in property market rather than share market.
 
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