All Topics / The Treasure Chest / How many you got?

Register Now for My Free Live Training Series!
Viewing 12 posts - 61 through 72 (of 72 total)
  • Profile photo of suzieqsuzieq
    Member
    @suzieq
    Join Date: 2003
    Post Count: 149

    Hi guys,

    After researching heaps over the past 2 years (books, newspapers, internet, this forum…), finally took the plunge 3 months ago with first IP in regional WA, got the bug and now in the throws of purchasing 2nd IP (just waiting for finance approval)offer has been accepted, in another WA regional town and have a PPOR in Perth. With my children off to high school in 2-3 years time thought it was time to get stuck into a bit of property investing and build up a portfolio (need to pay heavy school fees…which really made me think about pushing things along) Set some goals and go for it – thats my philosophy!!! Slummy your an inspiration, keep goin. SQ.

    Profile photo of GrimasGrimas
    Member
    @grimas
    Join Date: 2003
    Post Count: 3

    Hello all,

    Another Newbie to this site and like others only found out about this site after having read Steve’s Book. This site is great and look forward to further discussions.

    I personally have 8 properties, soon to be 12 (design phase of development underway). All residential properties located in Melbourne < 15km from CBD. Most positive cash flowed but the ones that are negative were purchased as bargains and have huge capital growth (ie instant equity). After having read Steve’s book, he has reminded me of my initial intent to become an investor. I am happy with my progress to date, financial freedom by 35 (and I’m not even 30 yet).

    Its great too see so many enthusiastic people!! Good luck to all!!!! [:D][:D][:D]

    Profile photo of babsbabs
    Participant
    @babs
    Join Date: 2003
    Post Count: 38

    None, but hopefully we should have a couple in about a year.

    Profile photo of calroncalron
    Participant
    @calron
    Join Date: 2003
    Post Count: 78

    Hi all

    Here’s my story.. It has been posted in another stream tho..

    We have 7 properties bought in under 2 years, all +ve geared.. with 3 more next month coming..

    we basically got into the market here in GoldCoast QLD when we moved up from Sydney. 20% down into our first property being our Home. That 20% consisted of the $13 that was left of our savings/shares (shares went from $40k to $10k in a week because of sept 11) and the pay that we earnt over then next 2 months that we had to wait for settlement.

    We took out a principal interest loan for the first year through a broker. I asked him at the time when we could buy another property, he said call him when we felt we we’re ready cos we should have no problems at anytime.
    I was making alot of money back then ($120k), alot for me anyway at the time.

    After 3 months we decided that we felt ready to go another, so I asked the broker about this. He said ok, go find the one you want. So we went out and found 3.

    He used the new assessed value of our home to leverage against the 3 new properties that were in turn secured against each other.
    The downside for this sort of deal meant that our solicitor had to organise 3 similtaneous settlements at 3 banks in 3 different states, each conferencing to each other so that the deal went off without a hitch. Our solicitor wasn’t happy with this, we have since found a better solicitor.

    All of these properties are nicely +ve geared and over the next year all four, as far as the banks were concerned had doubled in value.

    Chomping at the bit again, about 2 months ago after reading my first ever “property book” and getting rich book “Real estate riches” by Dolf de Roos ( I have until then, always hated people talking to me about them). I discovered the idea of using OPM. I have read a few other books since then on the subects of OPM and property.

    So we refinanced keeping 20% equity in all of the properties. The reason for the 20% is that it means that we pay no mortgage insurance on any of the loans and the bank is happy with the LVR.
    These 3 investments, we are holding for income sake. The capital growth is also rather good too.

    So we then refinanced and established credit lines for upto 80% of the values of each of those properties. From this we put down a 10% deposit for the Yves tower down in Melbourne. We were fortunate enough that my wife was designing the website for the developers, Sunland Group. They offered our pick of units prerelease.
    This is a trade rather than investment.. We are going to flick it on when the time is right, but b4 it is complete. We have already been offered an extra $100k for it so we anticipate that in the next 3 years we should make a little more than this.

    so so far we have the Home, 3 buy and hold residentials, 1 off the plan.

    That brings us to the latest.

    2 Commercial units in Brisbane CBD.
    With 30% down using the credit line we have just picked up 2 commercial units that are returning a minimum of 10% from existing leases with options.

    This brings up the 2mil.

    We have 3 more prerelease off the plans that we have put expressions of interest on and they should be in our hot little hands next month.

    We as yet haven’t done the build a property or reno or develop thing. We are fortunate enough though to have close friends who have done each of these, so we are going to learn from them the hows and wherefores and whos:)

    The primary goal for me personally is to be retiring at 35 at the latest so I can bring up our son, who is due in December and one more when he or she arrives. It’s amazing how having children can allow you to focus.

    Oh yeh, I want to buy a brand new Porche 911 carrera s4 by the end of next year, bought with OPM of course:)

    I have found that sitting down and talking with other people that I have met, who are doing, who are wanting to do and who have done is helping me reinforce ideas and allowing me to invent ideas on my own, that are allowing us to escalate our investment strategies.
    The main thing for me, is when people tell me that we are taking too much risk in doing this, I am thinking now that it is too risky not doing it..
    Have no fear. In the word of Nike….. Just do it!

    This is funny, but less than 2 years ago my wife was having fits at me when I was talking about owning 50 properties within 5 years.. Nows she’s asking if thats all we’re going to own:)

    Flexibility and diversity is our key.. Keep exposure manageable and comfortable for your own peace of mind.

    So. Timeline.
    OCT 2001 – Home
    June 2002 – 3 rental, Buy and hold
    June 2003 – 1 off the plan pre release, Buy and Flick
    Aug 2003 – 2 commercial, Buy and Hold
    Sept 2003 – 3 off the plan pre release, flick 2, hold 1.
    Sept 2003 and onwards – Lots More of allsorts.
    December 2003 – Xavier Calvin is born.
    b4 June 2004 – Buy Porche.

    So I hope this helps.. If you have anymore questions then just ask..

    Cheers

    Calron the Alcamist
    Turning things into gold is fun.
    [email protected][;)]

    Profile photo of nugennugen
    Member
    @nugen
    Join Date: 2003
    Post Count: 58

    I am just new to this. No IPs yet, but selling up in summer and using profit to put deposits down on a few. Rents cheap here so I will rent. Everyone in here is an inspiration, and are unknowingly helping newby’s like myself to accerlerate our knowledge of the property market.

    Worst case scenario is that I lose my job, market crashes, and I end up on an acreage in the tropics.

    Keep up the positive vibe.

    Profile photo of Rich1Rich1
    Member
    @rich1
    Join Date: 2003
    Post Count: 5

    HI SlumLord

    Reading your post (and the short time frame in which you have achieved what you have) is very encouraging.

    My wife and I have 2 IP’s (and we rent ourselves) of which one is +ve CF (through no real planning of mine I must admit I bought just before the big boom in Melb. and have been able to cash in rent wise) and one is -ve CF. Both are in Melbourne eastern siuburbs.

    The light has turned on for me after reading Steve’s book – I always knew that we did not have quite the right strategy (ie: -ve and neutral geared) as we have been finding it tough to get money together for deposits.

    However we will be financially free in 5 years (my 35th birthday!!). And I will have bought a +ve CF (my first of 10 by Christmas) property within the next 30 days as I want to prove to myself that procrastination is the thief of time…. and in ourcase the thief of our freedom.

    Keep you posted on my short term goal

    Rich

    “In life we often think if we dream it, we have to make huge steps towards it. We will get to our dreams when we make little steps.”

    Profile photo of rajohn1rajohn1
    Member
    @rajohn1
    Join Date: 2002
    Post Count: 11

    I have 43 Ip’s

    JF

    Profile photo of hgwellshgwells
    Member
    @hgwells
    Join Date: 2003
    Post Count: 127

    1 ppor – 3 -ve’s and a 4th one at slab stage. All have more than doubled in price giving good equity but not positive cash flow. But have started to read Steve’s book – and read this forum and am starting to think there is a smarter way to do this. Learning curve starting to kick in. HG

    Profile photo of ShabbyShabby
    Member
    @shabby
    Join Date: 2003
    Post Count: 1

    Hi everyone

    We have 1 ppor, 1 vac block purchased pre-release
    and good capital growth.

    I have just read Steves Book and would like to thank him for the valuable info.

    I am currently looking for my first +ip, the goal from there is more to follow.

    Profile photo of BernadetBernadet
    Participant
    @bernadet
    Join Date: 2003
    Post Count: 6

    A big fat 0 at the moment, but I have enough equity in my ppor to hopefuly purchase an Ip before the end of the year. I’m about to order Steve’s book, cant wait to curl up with it, it’s the perfect weather for it here in freezing Adelaide at the moment.
    [;)] [:)] Bernadet

    Profile photo of MerlinMerlin
    Member
    @merlin
    Join Date: 2002
    Post Count: 11

    I have 2. Have 1 PPOR, 1 IPs and am working on the third !!

    Have had 2 IP in the past. Made zero profit on the first.. but made $40,000 on the second. (But put that money in shares…opps).

    Profile photo of showusshowus
    Member
    @showus
    Join Date: 2003
    Post Count: 3

    As a new member to both this forum and the Property Investent game, I would firstly like to say a big hello to everyone [:)].

    Currently, I am still in the process of aquiring knowledge (uni degree and investment) while my property count stands at zero.

    It’s very inspirng and helpful to hear of your investments, looking forward to learning more and perhaps adding my own “two cents” at some time.

    Tim

Viewing 12 posts - 61 through 72 (of 72 total)

The topic ‘How many you got?’ is closed to new replies.