What is the average time between joining the forum and buying an IP?

Me, I am a major procrastinator in all aspects of my life. Too much indecision. Paralysis analysis.

The main progress I have made since joining the forum is learning that property investment has to be part of a diversified portfolio - allowing hedging against inflation in order to create a passive income from a substantial asset base.

I have also learnt about the best financial setup for initiating this, mostly from Aaron's posts. I have LOC created against my ppor ready for action. This allows a 500k deposit on an investment property. I know that my cash should be preserved and placed in offset.

I peruse realcommercial.com.au daily in various postcodes located close to sydney cbd and ring agents sporadically.

I have also decided from reading the many posts that comm IP may be the better way to go for me and this is where I am almost two years since joining this forum.

Am I way behind in terms of time to action or on par with others?
 
When I joined in June 2010, we had six properties - 4x two bed apartments, 2x single bed apartments. In the intervening time we've sold both single bedders, and bought three 3x1 villas.

Being on the forum hasn't impacted on our investment motivation - we are much more likely to buy when we start getting a bit too far ahead on our PPoR mortgage. Can't have all that spare money sitting idle :rolleyes:
 
ok. what do you believe is the average time frame between joining somersoft and acquiring resi IP?

At least 12mths before you :)

Good to see that you have been playing close attention to what everyone has been saying. I think you are getting closer just by the sounds of your confidence in your ability to pick something.
 
At least 12mths before you :)

Good to see that you have been playing close attention to what everyone has been saying. I think you are getting closer just by the sounds of your confidence in your ability to pick something.

Certainly so. I suspect that everyone has a different appetite for risk, knowledge base and learning curve.

It took me four years of searching before I purchased my PPOR. I knew the sale prices and sales history of every house on about ten streets in the area I wanted to purchase. So I suspect that the IP will take a similar time frame?

Maybe I should pay myself a wage per hour when reading this forum. Maybe this would be tax deductible just like other educational expenses incurred in generating an income?
 
In the thread that this was split from, I'm sure you asked about the time between joining the forum and buying a "commercial" property, but the word "commercial" has been left off this thread (unless I read it wrong).

It does make a bit of a difference to what sort of answers you will get.
 
In the thread that this was split from, I'm sure you asked about the time between joining the forum and buying a "commercial" property, but the word "commercial" has been left off this thread (unless I read it wrong).

It does make a bit of a difference to what sort of answers you will get.

Geoffw replied to my question on time to buying commercial IP - that most readers in this forum may not buy commercial ip.

In response, I asked about time to buying resi IP and thats when he commenced this thread with my latter question.
 
I bought my first property 20 years ago. I had three properties before I started actively using the property forums. I procrastinate a lot more now than when I was younger.
 
It took me four years of searching before I purchased my PPOR. I knew the sale prices and sales history of every house on about ten streets in the area I wanted to purchase. So I suspect that the IP will take a similar time frame?

Wow .. I thought I over analysed things .

China it's not meant to be that hard. It doesn't need to be.

With a PPOR , fair enough , but IP's are commodities . As long as they're not a dog , and with a bit of experience you can tell that by the time you drive up to nd walk in the front door.

Cliff
 
Joined June 2012 after purchasing 1st property in March 2012, after joining looking through threads the property I purchased was mentioned in a thread :)

Purchased 2 more since then.

Hoping to purchase #4 soon which will be developed into #5 as well
 
I'm settling on IP #1 in just over a week... you do the math. I hadn't been in a position to purchase until the beginning of this year, so I don't think you could really conclude whether it had anything to do with being on the forums.
 
4 months after joining the forum I had signed a contract on #1.

In retrospect 4 months isn't that long, but at the time (2003) it seemed like an eternity - especially as I was spending a lot of time in the chatroom and just about everyone in there had an iron (or multiple irons) in the fire.
 
Geoffw replied to my question on time to buying commercial IP - that most readers in this forum may not buy commercial ip.

In response, I asked about time to buying resi IP and thats when he commenced this thread with my latter question.
Feel free to answer about commercial properties as well.

The topic was way different from the thread topic in the thread where it was. It just seemed an appropriate post to start a new thread.
 
We had already bought 5 between 2001 and by the time I had found this forum in 2007.

Haven't bought anything IP wise since 05.

Bought our current PPoR block of land in 05 (just before leaving for USA), sat on it until we built current PPoR in 2010.

Renoed our previous PPoR in 2008 (after returning from USA) and sold it in 2009.

Bought the workshop business in 2009.

Have since sold off 4 IP's and only have one now.

The reason we have sold 4 is because of life curve balls of varying types - needed dollars.

NOTE: Between thinking about investing in property consciously and actually buying one was about a year....lots of book reading, studying areas, did a few seminars etc first.

Then selected an area for expected CG (Mentone), studied it for about 3 months and bought one I was watching. Bought it reasonably well priced; not cheap, but a little undermarket at the time...

It was a fizzer - expected rent turned out to be way off - was $100 per week short of that. Didn't get a tenant for first 3 months. Had to sell after 12 months - couldn't hold it. Came out even...just.

Second one bought soon after the first was renoed approx $20k. Expected rent turned out to be incorrect as well - both IP's in a soft rent market. Almost no CG on either - second one had no CG or rent increase in 2.5 years. Add reno costs - cashflow pain.

Sold No.2 just before moving to USA - had just bought PPoR block and we were nervous about cashflow while OS. Made farck all on that 2nd one.

Expensive education overall.
 
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