Tom replied to the topic Over 55's Complex – Deal or no deal in the forum General Property 4 months, 2 weeks ago
So, with respect to the question of ‘getting around the issues’ and limiting the impact of a parties (be it a body corporate member/s or an onsite manager/caretaker), the process and complexity differs depending on the state/territory and the nature of the agreement with the onsite manager.
In my region/situation the onsite manager has purchased…[Read more]
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Tom replied to the topic Over 55's Complex – Deal or no deal in the forum General Property 4 months, 3 weeks ago
Hello all, time for an update.
I ended up purchasing 3 units in the over 55’s complex in total. Each of them cost me $86K, rented for $220 each (all positive geared).
Fast forward to August 2022 and I have commenced selling all 3 units.
The reason for the sale is related to issues with the on site manager/caretaker (he has a lease for the…[Read more]
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Tom changed their profile picture 4 months, 3 weeks ago
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Tom replied to the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 1 year, 9 months ago
Hey Julian, saving 30% of your income is an awesome achievement, keep that up and you will have a portfolio that will sustain you in retirement for many years.
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Tom replied to the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 1 year, 9 months ago
Hey Julian, if you are referring to the book “Creating Real Wealth by Michael Kemp” you may be right, I don’t know the author.
My personal story is factual, and as an update 2020/2021 has been an interesting journey.
I manage my share investments based on the theories of Austin Donnelly…[Read more]
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Tom replied to the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 1 year, 9 months ago
Hey Julian, if you are referring to the book “Creating Real Wealth by Michael Kemp” you may be right, I don’t know the author.
My personal story is factual, and as an update 2020/2021 has been an interesting journey.
I manage my share investments based on the theories of Austin Donnelly…[Read more]
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Tom started the topic My secret for pandemic proof rental incomes in the forum General Property 2 years, 5 months ago
I have five rental properties, all of which were positive geared at time of purchase.
Buying positive geared properties leads to a certain type of property:
– High yield
– Below median purchase prices
This property type attracts tenants who are on some form of government support. All of my tenants are on some mix of:
– Aged pension
– New…[Read more]
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Tom started the topic My secret for pandemic proof rental incomes in the forum General Property 2 years, 5 months ago
I have five rental properties, all of which were positive geared at time of purchase.
Buying positive geared properties leads to a certain type of property:
– High yield
– Below median purchase prices
This property type attracts tenants who are on some form of government support. All of my tenants are on some mix of:
– Aged pension
– New…[Read more]
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Tom replied to the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 3 years, 2 months ago
Indeed Benny I didn’t start accumulating at $147 a day. From my spreadsheet our progress over time tracked as follows:
$102 per day – first 5 months (July 2001 – Nov 2001) – note: we had a few quick wins, downsizing our car and selling some other items to build up capital
$65.35 per day – 5 years (2001 – 2006) – note: this includes travelling and…[Read more] -
Tom replied to the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 3 years, 2 months ago
Indeed Benny I didn’t start accumulating at $147 a day. From my spreadsheet our progress over time tracked as follows:
$102 per day – first 5 months (July 2001 – Nov 2001) – note: we had a few quick wins, downsizing our car and selling some other items to build up capital
$65.35 per day – 5 years (2001 – 2006) – note: this includes travelling and…[Read more] -
Tom started the topic Turning $147 a day into $1,000,000 in the forum Forum Frolic 3 years, 2 months ago
I am reading Creating Real Wealth by Michael Kemp and there was a little section on compound interest with an example of saving $5 a day over 30 years @ 8% ROI = $200,000. It got me thinking, how much have my wife and I saved per day on our journey to $1,000,000 net worth.
As luck would have it we have maintained a balance sheet every three…[Read more]
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Tom replied to the topic Where to start? in the forum General Property 3 years, 4 months ago
Hey guys, for those following this post I have written another post analysing a real estate deal. You can read it here – https://www.propertyinvesting.com/topic/5056137-analysing-the-deal-2/
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Tom started the topic Analysing the deal #2 in the forum General Property 3 years, 4 months ago
Analysing the deal – number two.
In this overview I will talk through a property I did purchase. For future readers this overview was written in September 2019.
You can read an analysis of a property I didn’t purchase here https://www.propertyinvesting.com/topic/5054913-analysing-the-deal/
The house is a 3 bedroom house, 1970’s build. In the e…[Read more]
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Tom started the topic Analysing the deal #2 in the forum General Property 3 years, 4 months ago
Analysing the deal – number two.
In this overview I will talk through a property I did purchase. For future readers this overview was written in September 2019.
You can read an analysis of a property I didn’t purchase here https://www.propertyinvesting.com/topic/5054913-analysing-the-deal/
The house is a 3 bedroom house, 1970’s build. In the e…[Read more]
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Tom started the topic Analysing the deal #2 in the forum General Property 3 years, 4 months ago
Analysing the deal – number two.
In this overview I will talk through a property I did purchase. For future readers this overview was written in September 2019.
You can read an analysis of a property I didn’t purchase here https://www.propertyinvesting.com/topic/5054913-analysing-the-deal/
The house is a 3 bedroom house, 1970’s build. In the e…[Read more]
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Tom replied to the topic Analysing the deal in the forum General Property 3 years, 4 months ago
Hey Ian, that’s an interesting question.
Firstly I have determined weights for my investing portfolio of 50% real estate/50% shares. My cash/bonds component can be as high as 50% depending on what is going on with my life (maybe I just bought a new home I live in, so I want to reduce non-tax deductible debt and sit a bunch of cash in an off-set…[Read more]
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Tom replied to the topic Analysing the deal in the forum General Property 3 years, 4 months ago
Hey Ian, that’s an interesting question.
Firstly I have determined weights for my investing portfolio of 50% real estate/50% shares. My cash/bonds component can be as high as 50% depending on what is going on with my life (maybe I just bought a new home I live in, so I want to reduce non-tax deductible debt and sit a bunch of cash in an off-set…[Read more]
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Tom replied to the topic Analysing the deal in the forum General Property 3 years, 4 months ago
Hey Ian, that’s an interesting question.
Firstly I have determined weights for my investing portfolio of 50% real estate/50% shares. My cash/bonds component can be as high as 50% depending on what is going on with my life (maybe I just bought a new home I live in, so I want to reduce non-tax deductible debt and sit a bunch of cash in an off-set…[Read more]
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Tom replied to the topic Analysing the deal in the forum General Property 3 years, 4 months ago
Hey Ian, that’s an interesting question.
Firstly I have determined weights for my investing portfolio of 50% real estate/50% shares. My cash/bonds component can be as high as 50% depending on what is going on with my life (maybe I just bought a new home I live in, so I want to reduce non-tax deductible debt and sit a bunch of cash in an off-set…[Read more]
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Tom replied to the topic Over 55's Complex – Deal or no deal in the forum General Property 3 years, 4 months ago
Thanks Ian, having now purchased 2 of these units (over 55’s), a 3 bedroom house and a 2 bedroom unit (in a little complex of 12 units) over the past 2 years, I think it is important to diversify one’s real estate portfolio. The over 55’s get a higher rental yield, and these older tenants pay on time and are really the best tenants, they really…[Read more]
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