Hey Everyone,
Long time lurker, but haven’t been posting much. I've finally got myself into a position to dive head first into the property market and wanted to openly discuss some options.
Brief background
I'm 25, and recently come back from a gap year (get the travel out of the system whilst I'm young). I've settled into a good job on the Sunshine Coast (QLD) and am currently saving significantly. I haven’t plenty of opportunity for promotion and within 10 years aim to be earning 200k+ per year (salary).
I own 50% of a property worth 500k (400k owing) that is neutrally geared.
I am currently saving $3,500 a month (earn 100k a year) and have $20k saved up thus far for a deposit.
The aim is to acquire a property per year (more if possible) that are neutrally/positively geared. I am aware that the days of 10 year cycles are somewhat behind us, therefore more creative methods need to be utilized.
I work in construction (project management) therefore I am comfortable with developments/subdivisions etc... but don't have much experience with small scale projects (houses/units etc...).
I have spent the last 2 months researching into the northern side of Brisbane and am actively looking in around Chermside. However, on the flip side I have been considering apartments in the CBD (little maintenance, hold and forget).
Below is a few of the options I'm exploring
- Subdividing blocks
- Build a granny flat
- Convert to dual living
- Regional CF+ areas
- Block of land and build a house/duplex/villas
As a general note, I've only been looking for properties with potential for improvements (to increase return/equity).
I feel that I'm looking too wide, and that I should pick a strategy and stick to it. I am also open to the idea of shares/metals etc...
I'm meeting with a 'property strategist' next week to discuss options and hopefully tailer a system that suits my situation.
I have little knowledge about setting up trusts etc... but feel that whilst I'm at the beginning of my journey, I should build the foundations correctly (apologies for the poor thread title).
Additionally, I don't want to leverage myself up to the eyeballs so that I sit stagnant for 5 years waiting for either a higher salary or the properties to increase in value.
I realise that this post sort of jumps all over the place, but I just wanted to throw my situation out there and hopefully some experienced players can provide some insight as to what they'd do in my situation.
Thanks in advance!
Felix
Long time lurker, but haven’t been posting much. I've finally got myself into a position to dive head first into the property market and wanted to openly discuss some options.
Brief background
I'm 25, and recently come back from a gap year (get the travel out of the system whilst I'm young). I've settled into a good job on the Sunshine Coast (QLD) and am currently saving significantly. I haven’t plenty of opportunity for promotion and within 10 years aim to be earning 200k+ per year (salary).
I own 50% of a property worth 500k (400k owing) that is neutrally geared.
I am currently saving $3,500 a month (earn 100k a year) and have $20k saved up thus far for a deposit.
The aim is to acquire a property per year (more if possible) that are neutrally/positively geared. I am aware that the days of 10 year cycles are somewhat behind us, therefore more creative methods need to be utilized.
I work in construction (project management) therefore I am comfortable with developments/subdivisions etc... but don't have much experience with small scale projects (houses/units etc...).
I have spent the last 2 months researching into the northern side of Brisbane and am actively looking in around Chermside. However, on the flip side I have been considering apartments in the CBD (little maintenance, hold and forget).
Below is a few of the options I'm exploring
- Subdividing blocks
- Build a granny flat
- Convert to dual living
- Regional CF+ areas
- Block of land and build a house/duplex/villas
As a general note, I've only been looking for properties with potential for improvements (to increase return/equity).
I feel that I'm looking too wide, and that I should pick a strategy and stick to it. I am also open to the idea of shares/metals etc...
I'm meeting with a 'property strategist' next week to discuss options and hopefully tailer a system that suits my situation.
I have little knowledge about setting up trusts etc... but feel that whilst I'm at the beginning of my journey, I should build the foundations correctly (apologies for the poor thread title).
Additionally, I don't want to leverage myself up to the eyeballs so that I sit stagnant for 5 years waiting for either a higher salary or the properties to increase in value.
I realise that this post sort of jumps all over the place, but I just wanted to throw my situation out there and hopefully some experienced players can provide some insight as to what they'd do in my situation.
Thanks in advance!
Felix