Reload original page
 |
|
|
$1M Achieved1 2redwing [2752 Posts]  Just a quick post to say we've hit the Magic Million in Property Assets according to the latest appraisals (just over in fact). This was one of our Goals for 2006 and we've already achieved it before the end of January. I realise its only the paper value and worth less if we actually sold everything, however, its an achieved goal and a psychological stepping stone for us; our LVR has dropped from 71% to about 64% and we are still looking at our options for 2006. Its nice to know that the properties values have gone up by about $95,000 (over double what our yearly income is from wages without overtime) anything else this year is a bonus.. DSR is still a problem, however if i take a new job offer this should ease up also. Now to work on the other goals for 2006 and set the bar slightly higher for some goals (Dr X made me feel bad that I set the bar too low REDWING "Money is a currency, like electricity and it requires momentum to make it Effective" Derek [2693 Posts]  Hi Redwing, Congratulations - they say the first mill is always the hardest and thereafter it will continue to leapfrog (or is that snowball). Is that $1m in equity or $1m in property? Now get out there and keep looking. Derek  AmandaBS [553 Posts]  Well done Redwing. We're catching up too just need the bank to agree to lend us more money !! Amanda cata [559 Posts]  Congrats Redwing I didn't think it would take you all year to do it. Now on to the next mill hay CATA Don. [975 Posts]  Well done redwing! Almost time to start buying again in sydney they tell me ( looks right to the news bar). Regards, Don ---------------------------------- hb [178 Posts]  well done redwing and DLPP....how do you work out that its time to buy in NSW? unless your a CEO ($65,000/wk) or a property investor (like redwing), the rest of us are only making (according to research) 50k a year where's the money? come on .....share it with the rest of us....there's a money tree..isn't there? TracyD [87 Posts]  Great work Redwing, TD the owner [2 Posts] wow that's awesome, Congratulations Redwing! Colin Gowan [88 Posts] Well done redwing however the adventure continues. Those of us following your lead could do with some learned advice. "Learn from the mistakes of others, you won't live long enough to make them all yourself" Richard Denny. Email colingowan@bigpond.com. Terryw [11895 Posts]  Good stuff Redwing. If you are having serviceablity problems, RAMS have just released a 80% LVR No Doc. Terryw hb [178 Posts] Now terry we'll all being positive here lets not talk about that nasty word "serviceablity" redwing [2752 Posts] Originally posted by the owner: Hmm..bought my first house ever in about 1990, there's been ups and downs since then, about 5 yrs ago I earnt less than $20k for the year and found things pretty tight Worst thing i did was sell a duplex block in Broome for about $15k profit after costs (3 month turnaround between buy and sell) paid around the $40k's for it..now worth "buku" dollars to quote Dazzling.. Thanks to everyone here for thier advice over time..it's all appreciated, especially some of the great PM's.. Colin..what did I learn along the way.."tons" of info..though my main thoughts are, "No" is not an answer just an opinion, learn from as many investors as you can (you can learn something new from someone at any level) and - its not what you earn, but what you do with what you earn.. "Money is a currency, like electricity and it requires momentum to make it Effective" benderfile [42 Posts]  just saw your post, good one. cheerz mapleleaf [51 Posts]  It is wonderful to hear a success story and of you meeting your goal early! My husband and I just did our goal setting and I can only hope to have the same success! Well done, Mapleleaf Achieve the Dream! redwing [2752 Posts] Thanks everyone.. Still doing the groundwork for my main goals for 2006, hopefully with help from some of the more experienced Forum Members who I've been in contact with I can achieve them.. "Money is a currency, like electricity and it requires momentum to make it Effective" redwing [2752 Posts] *BUMP* Update regarding our situation Now sitting on $2.1M in Property Assets and we've leveraged into some Income Producing Managed Funds that provided an 18.5 % return last year (thre have been some great 50-60% Funds, but we consider ours slightly less risky). New QLD and WA IP's bought this year so far and drawing out more equity for a Safety Buffer and to look at new investments Thanks DrX and many other posters on the forum Regards Redwing "Money is a currency, like electricity and it requires momentum to make it Effective" 1 2 |
User loginInvesting Resources
Active forum topicsRecent blog postsHSBC anticipates more cuts to cash rate Author: SteveMcKnight 'Modest easing' recorded in house prices Author: SteveMcKnight Join Our Facebook CommunityFeatured Investing Resource
Register Your Copy
Who's onlineSocial Media
Today's TipYour deal's in trouble if the difference between making and losing money is <more> |
|
)
