Long time lurker, first time poster,
I thank everyone's posts, it has been a pleasure since Day 1.
I was wondering if people could point me in the right direction for my situation, dreams and goals,
I turned 30 in Jan 2011 and purchased my first IP as a birthday present to myself and to get me in property investment,
Fast forward 18 months, I currently have 16 IPs @ average value of $147kish, net portfolio value 2.3m, (based on purchase price) LVR 80% with approx 5% in offset, I believe I have purchased under market value each time, between 5% and 20% off market value, so current value may be up to 10% higher then purchase prices. Current yield 7.8% before any costs, after management costs, rates, insurance, Landlords insurance, its about break even which im pretty happy about,
Im finding that residential property might not be suitable for me long term and by purchasing at the rate im going at, I feel my risk profile will become too high,
My ultimate goals is to become a hot shot and even large scale developer or even renovator, where I work full time doing one or all of the above. Eventually, I would like to either get into a joint venture for a far larger project(s) or keep on doing the same thing but still on a less sized scale but a joint venture where I do less of the physical work and more of the management with less risk due to the joint venture. At present I feel the current options for me are:
a) renovate existing properties in between tenants, increase equity, increase rent, and refinance, assume each project takes 3 weeks, thats 10 per year
b) as above but with buying properties
c) Buy blocks of land with existing houses and subdivide in to 2-3 units, hopefully this will lead to 5 unit sites, and eventually maybe entire villages
In order to achieve my goals, should I do a combination of all of the above? or do one of them or any of them? Am I on the right track?
For the record I am single father and have full custody of my daughter, and have only worked part time for the past few years for a multitude of reasons.
I thank in advance for responses
I thank everyone's posts, it has been a pleasure since Day 1.
I was wondering if people could point me in the right direction for my situation, dreams and goals,
I turned 30 in Jan 2011 and purchased my first IP as a birthday present to myself and to get me in property investment,
Fast forward 18 months, I currently have 16 IPs @ average value of $147kish, net portfolio value 2.3m, (based on purchase price) LVR 80% with approx 5% in offset, I believe I have purchased under market value each time, between 5% and 20% off market value, so current value may be up to 10% higher then purchase prices. Current yield 7.8% before any costs, after management costs, rates, insurance, Landlords insurance, its about break even which im pretty happy about,
Im finding that residential property might not be suitable for me long term and by purchasing at the rate im going at, I feel my risk profile will become too high,
My ultimate goals is to become a hot shot and even large scale developer or even renovator, where I work full time doing one or all of the above. Eventually, I would like to either get into a joint venture for a far larger project(s) or keep on doing the same thing but still on a less sized scale but a joint venture where I do less of the physical work and more of the management with less risk due to the joint venture. At present I feel the current options for me are:
a) renovate existing properties in between tenants, increase equity, increase rent, and refinance, assume each project takes 3 weeks, thats 10 per year
b) as above but with buying properties
c) Buy blocks of land with existing houses and subdivide in to 2-3 units, hopefully this will lead to 5 unit sites, and eventually maybe entire villages
In order to achieve my goals, should I do a combination of all of the above? or do one of them or any of them? Am I on the right track?
For the record I am single father and have full custody of my daughter, and have only worked part time for the past few years for a multitude of reasons.
I thank in advance for responses
You must have a great income or maybe inherited or borrowed from family? 
