Who's achieved 50+ properties in their time on earth?

[aussierogue]

great stuff bigtone! You mention 7 years ago your net wealth was 73k - can I be cheaky and ask approx what it is now!.

You started the same time i did. Im guessing you must be around 2-3 mill by now? (wealth that is)..

 

[Bigtone]

Thanks guys for your kind words, can't really talk to any of my friends about specific numbers so this is a great place to be able to talk to people who understand and are all working towards their own property goals.

Aussierogue your figures were pretty spot on until the boom in melb really kicked in the last 6 months, i bought a lot of places in 2008 that are 25-40% higher now so that has pushed equity a fair bit higher in a quick time.

A few times along the journey you go backwards during the expanding period with all the stamp duty, holding costs etc but when that next stage of the cycle goes through an area you have property in it really makes a huge difference in equity position. Initially I didnt care at all about equity I just wanted as big a portfolio as possible and then let time as "player" said work its magic.

I am a big beleiver in diversifying property in lots of areas, if I started buying in 2003 in melb where i live there would have been minimal growth for 4 years so diverifying has helped me a lot build quickly.

I am pretty new on this site but it looks like the drug of choice for me is the same for a lot of people here.... Property!

 

[aussierogue]

Bigotone thats some nice numbers - congrats. Kicked my but over that time and I had much better serviceablity. Having said that i have reached my goals so I still feel successful.

Question - is there a time when you can see yousefl say 3 mill is enuf? ie cash in - buy a 1.2 mill place to live invest 1.8 mill and live of the 130k per year income?

 

[Bigtone]

Bigotone thats some nice numbers - congrats. Kicked my but over that time and I had much better serviceability. Having said that i have reached my goals so I still feel successful.

Question - is there a time when you can see yourself say 3 mill is enuf? ie cash in - buy a 1.2 mill place to live invest 1.8 mill and live of the 130k per year income?

I have slowed down last 12 months but that was more to do with ability to get cash as 80% of my loans are low doc. Recent growth spurt means i can access equity and buy at 60% on a few so i am back in the game my short term aim is upgrade home to around $2m, currently $800k approx , buy a few in syd and then later brissy and perhaps a couple of $40k's now is usa for a laugh.

The enough is enough amount seems to keep getting bigger as i guess i have enough already especially since business is now worth a fair bit as well but i enjoy the work and especially enjoy the acquiring stage of property so for now happy to keep buying at a slowish pace.

cheers

 

[aussierogue]

Awesome stuff.

 

[Andrew L]

I have slowed down last 12 months but that was more to do with ability to get cash as 80% of my loans are low doc. Recent growth spurt means i can access equity and buy at 60% on a few so i am back in the game my short term aim is upgrade home to around $2m, currently $800k approx , buy a few in syd and then later brissy and perhaps a couple of $40k's now is usa for a laugh.

The enough is enough amount seems to keep getting bigger as i guess i have enough already especially since business is now worth a fair bit as well but i enjoy the work and especially enjoy the acquiring stage of property so for now happy to keep buying at a slowish pace.

cheers

mate I have to say I'm blown away by your success. Not to be putting anyone else down but your comments are so un-assuming and yet you have built an empire the packers would be proud of.

I look forward to hearing you story in more detail.

Cheers
Andrew

 

[Monopoly]

i have 30+, about 35 approx i buy and hold only and all res, lowest amount of effort involved is what i want, no developing or renos for me, cant use a hammer personally. I have not bought any for 12 months but bought 10+ in 2008 when many were saying the world was ending, bought mostly in Melbourne at that time.

In my business i have a bookeeper and she deals with the PM's as part of her job, i know i will be ripped of thousands of $$$$ every year and just budget for it. Small change in the big picture. Forget the little stuff is a lesson I learned early. (interest rates, mortgage insurance, paying $5k too much, management fees etc, focus on those and your eyes are not on the ball IMHO.

I started investing in mid 2003 and my net wealth was $73k and income around $80k, first property was in Tassie for $72k went up 100% in 12 months, next few in Darwin gone up 300% since and just did what every body else does and kept buying as property increased in value, Last purchase was for $860k in Black Rock Melb, now trying to buy in Sydney, keep losing at auction!. Strategy was I hotspotted initially for quick growth and used that to buy bluechip.

Might buy a couple of cheapies in USA just for fun and it is a cheats way of getting the numbers up!!

My income has increased a fair bit since 03 which has helped but i have often borrowed to service debt. LVR is currently low 60%'s Coincidentally that increase in my income came from discovering my passion for IP and structuring my business to concentrate on areas related to that so I can focus on what i enjoy everyday.

It's funny when i started i wrote down my goals and the numbers going forward for each year end upto 2013, just seemed ridiculous and unachievable but each year except end of 2007 I have been miles ahead of those 'ridiculous' numbers.

I guess I have been lucky but I have also made some bad mistakes that i will avoid in future that held me back and slowed progress. So in summary I don't have 50+ yes but I want to and am very determined to get there. Also agree it is about equity and not numbers but it is fun playing real life monopoly and numbers are also good for goal setting with the end result hopefully heaps of equity!

Bigtone, that is awesome!!! 30-35.... WELL DONE

 

[boods99]

keep buying at a slowish pace.

cheers

hehehe...

Kudos to you. Good work mate, very inspirational. I guess you learn something new every day on here!! Never would have picked it!

Boods

 

[kathryn d]

Bigtone,
Well done !!!
This monopoly game is more fun than the board version

 

[jingo]

Congratulations, Bigtone.

I am very inspired by your post. Makes me want to keep purchasing!

If you don't mind me asking, is your portfolio neutrally or negatively geared?

Regards Jason.

 

[Bigtone]

Thanks for the kind words everyone.

After i put in my original post I went to bed and couldn't sleep, thought i would get canned for big-noting myself especially when it said 50+ and I don't have that many. Was kicking myself for writing it especially as a new member on the forum. So thanks to everyone who has offered encouragement and support. Helped my SANF ( couldn't work out what that meant on other threads at first didn't know what people were talking about!

Portfolio is heavily negatively geared at the moment, most early purchases are cashflow positive now by a big way but many more recent purchases especially blue chip Melbourne are basically land value, Black rock for example was bought for $860k gets $400pw. It is a corner block that two and with a stretch 3 townhouses could go on, it was valued by the bank first week of March at $1.25m so if i borrow other $50k to hold it for for the next two years it is still a pretty good result.

I don't develop but I have often bought sites that can be developed as the CG can be enormous when the developers are back in the game. I have also noticed when I have been hotspotting in towns like Mackay (2004) and Townsville (2005) you could buy development sites with no premium to normal houses. When population is booming all the builders are fully booked building new estates 5-10ks from CBD and you can buy 1-2ks out a big block with a period home and eventually those blocks have a huge premium on them, have a few good examples of this.

As i said earlier I kind of made up my theory on the run so made some mistakes but the only ones i really regret are the ones i didn't buy.

Cheers

 

[kissfan]

After i put in my original post I went to bed and couldn't sleep, thought i would get canned for big-noting myself

Yeah, what a show off, what a poser.

Just kidding Bigtone. That's a massive achievement and you have every right to be proud of all you have done.

Congrats
Marty

 

[RedCat]

Can hardly be seen as bignoting when you've answered the question in the asked thread. Good luck to you and thanks for sharing

 

[WASP]

Thanks for the kind words everyone.

After i put in my original post I went to bed and couldn't sleep, thought i would get canned for big-noting myself especially when it said 50+ and I don't have that many. Was kicking myself for writing it especially as a new member on the forum. So thanks to everyone who has offered encouragement and support. Helped my SANF ( couldn't work out what that meant on other threads at first didn't know what people were talking about!

Portfolio is heavily negatively geared at the moment, most early purchases are cashflow positive now by a big way but many more recent purchases especially blue chip Melbourne are basically land value, Black rock for example was bought for $860k gets $400pw. It is a corner block that two and with a stretch 3 townhouses could go on, it was valued by the bank first week of March at $1.25m so if i borrow other $50k to hold it for for the next two years it is still a pretty good result.

I don't develop but I have often bought sites that can be developed as the CG can be enormous when the developers are back in the game. I have also noticed when I have been hotspotting in towns like Mackay (2004) and Townsville (2005) you could buy development sites with no premium to normal houses. When population is booming all the builders are fully booked building new estates 5-10ks from CBD and you can buy 1-2ks out a big block with a period home and eventually those blocks have a huge premium on them, have a few good examples of this.

As i said earlier I kind of made up my theory on the run so made some mistakes but the only ones i really regret are the ones i didn't buy.

Cheers

It's been a great read, maybe worth a new thread on the journey like this one

Rob's story

 

[handyandy]

Thanks for the kind words everyone.

After i put in my original post I went to bed and couldn't sleep, thought i would get canned for big-noting myself especially when it said 50+ and I don't have that many. Was kicking myself for writing it especially as a new member on the forum. So thanks to everyone who has offered encouragement and support. Helped my SANF ( couldn't work out what that meant on other threads at first didn't know what people were talking about!

Portfolio is heavily negatively geared at the moment, most early purchases are cashflow positive now by a big way but many more recent purchases especially blue chip Melbourne are basically land value, Black rock for example was bought for $860k gets $400pw. It is a corner block that two and with a stretch 3 townhouses could go on, it was valued by the bank first week of March at $1.25m so if i borrow other $50k to hold it for for the next two years it is still a pretty good result.

I don't develop but I have often bought sites that can be developed as the CG can be enormous when the developers are back in the game. I have also noticed when I have been hotspotting in towns like Mackay (2004) and Townsville (2005) you could buy development sites with no premium to normal houses. When population is booming all the builders are fully booked building new estates 5-10ks from CBD and you can buy 1-2ks out a big block with a period home and eventually those blocks have a huge premium on them, have a few good examples of this.

As i said earlier I kind of made up my theory on the run so made some mistakes but the only ones i really regret are the ones i didn't buy.

Cheers

Well done Bigtone you seem to have hit the ground running.

Just curious as to what sort of business you are running which gives you enough time to hunt around all over Aus locating property.

Cheers

 

[Bigtone]

Well done Bigtone you seem to have hit the ground running.

Just curious as to what sort of business you are running which gives you enough time to hunt around all over Aus locating property.

Cheers

"Handy" it didn't take much time really in those areas, Tassie was two weekends, Darwin 1 trip 3 days, Mackay 2 trips of 2 days, townsville 1 weekend and same in most other places so most people could do it without taking much time off work if any.

 

[handyandy]

"Handy" it didn't take much time really in those areas, Tassie was two weekends, Darwin 1 trip 3 days, Mackay 2 trips of 2 days, townsville 1 weekend and same in most other places so most people could do it without taking much time off work if any.

Sorry was more interested in the type of business your in Figured most of the 'shopping' is done on the net.

Cheers

PS re comments USA I think you would need to do a massive amount of homework as the markets dynamics are way different than here. There are a number of posts re the US that could be worth a read.

 

[kissfan]

Bigtone, I meant to ask you what kind of structure you have set up foer your IP's. I.e, do you purchase under your own name, into a trust, or something else?

Regards
Marty

 

[Bigtone]

marty,

all in my own name. with low docs made it easier to keep going as more lending options or at least there were

 

[willair]

I have slowed down last 12 months but that was more to do with ability to get cash as 80% of my loans are low doc. Recent growth spurt means i can access equity and buy at 60% on a few so i am back in the game my short term aim is upgrade home to around $2m, currently $800k approx , buy a few in syd and then later brissy and perhaps a couple of $40k's now is usa for a laugh.

The enough is enough amount seems to keep getting bigger as i guess i have enough already especially since business is now worth a fair bit as well but i enjoy the work and especially enjoy the acquiring stage of property so for now happy to keep buying at a slowish pace.

cheers

Just wondering hows it all going,are you still buying or selling..