young property investors
- Thread starter toylux95
- Start date
I dropped out in year 11, I have worked since the day I left (5 years ago) . . . Been managing the family plumbing business for the last 2 years of my life.
Crazylikeafox,
Both my husband and I were at uni when we purchased our first IP - we just juggled a lot of work with our schedules. I finished my degree in 2.5 years by doing summer school so was working full-time at 20. By then we had saved a sizeable deposit. Hubby didn't end up finishing his engineering degree! False economy if you ask me! But he did do a Cert IV in another area, and now earns a great wicket but it could have gone very sour.
It was easier for us than others here, because of the double income and we both lived at home so small expenses.
Perservere with uni and you'll be in a great position when you finish. Start saving ASAP if you haven't already started. Good luck.
Both my husband and I were at uni when we purchased our first IP - we just juggled a lot of work with our schedules. I finished my degree in 2.5 years by doing summer school so was working full-time at 20. By then we had saved a sizeable deposit. Hubby didn't end up finishing his engineering degree! False economy if you ask me! But he did do a Cert IV in another area, and now earns a great wicket but it could have gone very sour.
It was easier for us than others here, because of the double income and we both lived at home so small expenses.
Perservere with uni and you'll be in a great position when you finish. Start saving ASAP if you haven't already started. Good luck.
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Bought mine @ 19 but never went to Uni. IT at Uni is focused heavily around software development (rather than network administration which I wanted to do), so when I was in Year 11 at school, TAFE had a program called "Joint Schools Tafe Program" which allowed me to drop units at school and do IT at tafe as well as complete my HSC.
The result was that I graduated @ 18, then got an entry level job and never looked back. I much prefer working compared to studying and probably wouldn't have enjoyed uni at all. I'm not saying uni is not worthwhile but its not for everyone.
It may limit my earning potential eventually by not having a degree but I've been promoted a fair bit (I'm now 25) so hasn't stopped me so far!
I had saved some money by working at Pizza Hut while still @ school. So this helped get a deposit ASAP.
Hi Everyone
I am 29 and have 15 investment properties. I now focus on small scale developments.
When I was 20 mum drove me to the front of a house and told me to buy it, even put the very small deposit in my hand and went guarantor. Yes, I spent the next 4 years telling her that she ruined my life and made me get a mortgage so young and tied me down :> (not true because I spent 3 years travellings O/S)
I thank her all the time for pushing me so young and thank her for my mindset and the position I am in today.
Get started asap.
I am 29 and have 15 investment properties. I now focus on small scale developments.
When I was 20 mum drove me to the front of a house and told me to buy it, even put the very small deposit in my hand and went guarantor. Yes, I spent the next 4 years telling her that she ruined my life and made me get a mortgage so young and tied me down :> (not true because I spent 3 years travellings O/S)
I thank her all the time for pushing me so young and thank her for my mindset and the position I am in today.
Get started asap.
I'm 23 and now (as of Friday 
) have two investment properties. I completed my double degree at the end of 2005 (4 year course). I worked part time during uni, while also running a small business from home. The business has done pretty well so I stopped working part-time around the same time I finished uni (to focus on the business). I needed a low doc loan, which meant saving a deposit of around $40,000 eek. Through a small amount of renovation and buying in a great location, the property was recently valued at almost $50,000 more than I paid for it 8 months earlier. So I have since bought another property borrowing 100% + costs using equity. Sevicability is a bit of a killer, so I will probably wait at least a year before buying another. Right now it's a bit tough, but I am hoping (and know) it will get better
) have two investment properties. I completed my double degree at the end of 2005 (4 year course). I worked part time during uni, while also running a small business from home. The business has done pretty well so I stopped working part-time around the same time I finished uni (to focus on the business). I needed a low doc loan, which meant saving a deposit of around $40,000 eek. Through a small amount of renovation and buying in a great location, the property was recently valued at almost $50,000 more than I paid for it 8 months earlier. So I have since bought another property borrowing 100% + costs using equity. Sevicability is a bit of a killer, so I will probably wait at least a year before buying another. Right now it's a bit tough, but I am hoping (and know) it will get better I finished my degree at 21. Finished high school at 16, Four years Uni but got offered a job in the final year and took 2 years the finish the final 12 months. Handful of major promotions later and now I'm 24 holding a Principal position (I worked part time through highschool/uni) in a top security company.
But I think being the eldest out of 4 boys my folks but the pressure on.
Jeez, I'm at the age now where I don't know if I'm still young or old.
I'm 23 now and I purchased my first IP a couple of weeks before my 22nd birthday. Saved hard for about 6 months with my now ex boyfriend and we purchased a small one bedder in South Melbourne.
Broke up about 1.5 months after settling and I recently purchased his share of the apartment for the bargain price of 18k. Planned to purchase IP number 2 in 2007, but the buyout and breakup stalled that. 2008 will be the year for IP 2!
Broke up about 1.5 months after settling and I recently purchased his share of the apartment for the bargain price of 18k. Planned to purchase IP number 2 in 2007, but the buyout and breakup stalled that. 2008 will be the year for IP 2!
Wow! What a bargain. Why was he happy to let it go for $18k?
That was probably half the equity?
Hi all, I'm 18 and don't have a property just as yet, but hoping to buy one within the next 6 months
^^ Are you studying?
A small query.
Good going to all the young folks buying up. A small query I have is did having property affect your relationships. For eg. if you own property(ies) did a future partner become more interested in you i.e. money aspect. I could imagine it would create tensions. Still how did it go for you? Cheers and thanks for sharing.
Good going to all the young folks buying up. A small query I have is did having property affect your relationships. For eg. if you own property(ies) did a future partner become more interested in you i.e. money aspect. I could imagine it would create tensions. Still how did it go for you? Cheers and thanks for sharing.
Put it this way, I think deliberately choosing poverty just because you're afraid someone will go out with you because you have money shows a lot of insecurity.
I see having money / investments as just one of my characteristics. No different to, say, being tall, etc.
Alex
Not for me, my GF doesn't have much interest in money. Then again I didn't go bragging about how many I had either (and if I did I reckon she would have thought I was a tosser). I think I only told her how many I actually had after we'd been together almost a year.
Having said that, I guess there are plenty of girls out there who would be the opposite.
My GF is the same. I had already started before we met, but really didnt talk about it for a while. She still really isn't interested anyway... So I do my own thing
Can be frustrating at times going it alone but thats life.
