What move next?

[Gecko235]

Great thread.

Living at home you can save quite easily if it's what you really wanna do.

I saved 100k in 5 years for my first house. 3 of those years on apprentice wages.

 

[J_aco]

well done on the saving and having 2 props already at the age of 26! you've got time on your hands and your end goal will definitely be achievable!

your parents must be very rich indeed - how could you only pay them $300 every few months... especially taking into account how much you earn... having said that, if it's your family tradition that you DON'T have to give money to parents every month, then all's good and well =]

 

[LarryC]

Wow, I've been away from the forums for a bit. Didn't notice this thread was still active.

Hi LarryC...

Was reading your posts... Im 34yo and we have arguably eerily similar investments, including in Wallan.

I built in 2006.... and i too have felt, and continue to feel it was a bad (innocent decision as i was young and guided by another for their personal gain) decision to buy in Wallan as an IP. I was born and still live in Sydney.

Im still tossing between still holding onto Wallan in the hope that it will go up and redeem itself with me, or cutting my losses, and the opportunity costs of holding it, and buying elsewhere, this time more smartly......

Mate, you and I are on the same boat. Still lost with this second one i bought. No idea what to do with it. Just like you, i listened to another person, who only guided me a for their own personal gain.

Probably not, but you may have mixed the loans. Did you set up a new split with ANZ for the $75k and was this an equity manager product? If not then how did you pay the $75k?

My original loan with ANZ, was for $360k, which was split into 260k fixed and 100k in variable. The mortgage broker increased the variable loan to 175k.

You've been given some great advice by people far wiser than me so I won't bother going there....what I do want to say is that you're 26, you have 2 properties, you're aware that you've made mistakes & your mind is open to learning more. You're doing fabulously!

Yeah I plan on reading a lot of books first, before i dip into another property again. I've fallen once, don't want another repeat of it again.

your parents must be very rich indeed - how could you only pay them $300 every few months... especially taking into account how much you earn... having said that, if it's your family tradition that you DON'T have to give money to parents every month, then all's good and well =]

Nah, not rich. They just haven't lived a rich and lavish lifestyle and likewise I've grown up in a similar fashion.

 

[sumterrence]

Hi LarryC,

I'm same age as you but I save way less than what you've done over the years, do you mind sharing your saving plan with us and maybe a bit of your life style? like do you hang out with friends or go out on the weekend or short trip etc? or just full hard core savings with absolutely no other activities? As I'm struggling to save lol

 

[Terry_w]

My original loan with ANZ, was for $360k, which was split into 260k fixed and 100k in variable. The mortgage broker increased the variable loan to 175k.

Where was the $75k placed on settlement?

 

[LeoT]

how did u go ?

ta
rolf

Hi Rolf,

Sorry for late reply.. I just missed your post.

Its a great book IMHO and a great addition to my library. There are some reviewers that complain that the book is terrible because its repetitive etc but they don't understand that the human brain first needs to be what I like to call 'positively brainwashed' into believing that massive success is indeed very possible. Anyway I think its a good book for ppl to read in general.

Thanks again ROLF.

Leo