Howdy folks!
I very much value & appreciate all the help on offer here! This site is a wealth of information, literally I'm going to present my current situation & I'd welcome any comments or feedback, especially suggestions - I'd guess the majority of you are far more experienced than I, so hearing what your next steps would be would help me a great deal. Of course, I'm not just looking for an "easy button", more a nudge in the right direction. If nothing else this could be a good progress marker for me to look back on!
About Me
I'm 27, just about to finish my Uni degree (I've been banned from mentioning the area of study, sorry ) & pretty much your typical mid-20's guy... Actually, wait. Scratch that. I'm by definition quite atypical
In March of 1998 I broke my neck in a diving accident which left me a Quadriplegic. As I'm sure you can imagine, that's had quite an effect on the course of my life since (the mother of all understatements!), not to mention ahead! Fast-forward a lifetime & here I am.
My Goals
I want to build things. Pretty simple! To be more specific, I'd love to have a role in creating properly accessible housing, especially apartments. State & federal legislation has really let the wider community down in this regard (grand total of apartments required to cater for the ~20% of Australians with a disability: 0%) & there's a lot of inertia still, much unwarranted. The human element aside, universal design will become the new "green", I'd put money on it All we need is a few trailblazers to show that making a house/building accessible to everyone doesn't mean it has to look like a hospital, doesn't mean it has to cost the Earth & can even increase value, all while making you feel warm & fuzzy on the inside. So there's me on the long(er) term.
I need to build up to that though, so I aim to start smaller: houses, townhouses, the standard PI gig until I can afford to take on some bigger ideas.
Yes, I'm a dreamer, & totally proud of that
Today
So here's my game right now:
Hands-off account (managed fund) - Currently ~900k which is basically my living expenses. This is not to be touched. It cannot be risked, as it's for care, equipment etc.
Investment property (unencumbered, no loan) - I jumped out of a margin loan in early 2007 (phew) & pumped it all into 2 acres of residential-zoned acreage. Currently renting for $290pw & about to submit plans for a 9 lot subdivision. Hoping to keep at least 2 (possibly 4) & sell the rest.
Tomorrow
A big priority for me is a PPOR. I'd love to buy & modify an apartment in town (Newcastle), but most places suitable are in the 600k area, add the modifications (20 - 80k), so I'm not sure if this is wise just now.
If all goes well (read: in my dreams) I'll sell 5 lots in the next 18 months & free up some capital, so I'm doing my homework now so I can reinvest straight up.
So there you have it! Thought? Comments? Suggestions?
Being new to this, I'm still quite conservative with investments but I've been pondering borrowing against the property to buy up an IP or two, but I don't want to delay the PPOR purchase for too much longer. Am I being too timid? Should I self-educate more before I dive in? I'd value any input you might have Thanks for taking the time to read!
I very much value & appreciate all the help on offer here! This site is a wealth of information, literally I'm going to present my current situation & I'd welcome any comments or feedback, especially suggestions - I'd guess the majority of you are far more experienced than I, so hearing what your next steps would be would help me a great deal. Of course, I'm not just looking for an "easy button", more a nudge in the right direction. If nothing else this could be a good progress marker for me to look back on!
About Me
I'm 27, just about to finish my Uni degree (I've been banned from mentioning the area of study, sorry ) & pretty much your typical mid-20's guy... Actually, wait. Scratch that. I'm by definition quite atypical
In March of 1998 I broke my neck in a diving accident which left me a Quadriplegic. As I'm sure you can imagine, that's had quite an effect on the course of my life since (the mother of all understatements!), not to mention ahead! Fast-forward a lifetime & here I am.
My Goals
I want to build things. Pretty simple! To be more specific, I'd love to have a role in creating properly accessible housing, especially apartments. State & federal legislation has really let the wider community down in this regard (grand total of apartments required to cater for the ~20% of Australians with a disability: 0%) & there's a lot of inertia still, much unwarranted. The human element aside, universal design will become the new "green", I'd put money on it All we need is a few trailblazers to show that making a house/building accessible to everyone doesn't mean it has to look like a hospital, doesn't mean it has to cost the Earth & can even increase value, all while making you feel warm & fuzzy on the inside. So there's me on the long(er) term.
I need to build up to that though, so I aim to start smaller: houses, townhouses, the standard PI gig until I can afford to take on some bigger ideas.
Yes, I'm a dreamer, & totally proud of that
Today
So here's my game right now:
Hands-off account (managed fund) - Currently ~900k which is basically my living expenses. This is not to be touched. It cannot be risked, as it's for care, equipment etc.
Investment property (unencumbered, no loan) - I jumped out of a margin loan in early 2007 (phew) & pumped it all into 2 acres of residential-zoned acreage. Currently renting for $290pw & about to submit plans for a 9 lot subdivision. Hoping to keep at least 2 (possibly 4) & sell the rest.
Tomorrow
A big priority for me is a PPOR. I'd love to buy & modify an apartment in town (Newcastle), but most places suitable are in the 600k area, add the modifications (20 - 80k), so I'm not sure if this is wise just now.
If all goes well (read: in my dreams) I'll sell 5 lots in the next 18 months & free up some capital, so I'm doing my homework now so I can reinvest straight up.
So there you have it! Thought? Comments? Suggestions?
Being new to this, I'm still quite conservative with investments but I've been pondering borrowing against the property to buy up an IP or two, but I don't want to delay the PPOR purchase for too much longer. Am I being too timid? Should I self-educate more before I dive in? I'd value any input you might have Thanks for taking the time to read!