Hey everyone,
I wasnt sure on the most appropriate place for this post, so I dont mind if it is deleted or moved…
Anyway, I just thought that I would introduce myself so I can get chatting to other like-minded forum members.
My name is Jake, I am 20yo, from Adelaide, SA (Australia). I currently dont own any property, but hope to very soon. I have made a substantial amount thgough my business interests and a bit of saving; which will be used accordingly between property, business & securities.
As I said, I do not own any property at the moment, but I have been searching and have made offers on several properties.
I began by looking and putitng offers on Adelaide metro property. i planned to live in the purchase and renovate/etc. whilst planning a (hopefully) profitable sale. I have since realised it is definately not the best place to start if I want to go far in this investment area…
After spending some time with some ‘mentors’ I am convinced to begin with a tenanted positive cashflow property whilst renting a residence for myself.
These people have helped me identify towns in which I can find this positive property (they also own substantial amounts of positive cashflow property in the town) and I am planning to take a short trip there in the next couple of weeks to get to know the area and introduce myself to local agents.
I appologise for the lengthy post, Im sure i could go on for hours, but I’ll end it here!
Hope to chat to you all soon!
Cheers.
Jake
Well done Jake and welcome to the forum.
I am sure that with an attitude like that you will have a string of properties quite quickly!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Fully Accredited With Derivex PTY LTD and IFHL PTY LTD
***Ask about our Interest Free Home Loan***
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi there Simon,
thanks for the reply.
and cheers for the support mate!
Jake
Welcome to the forum!
One of the greatest forumlas for wealth is to build business and buy real estate, and it looks like your doing it well!
Rgds.
Lucifer_auJake,
You’ve got the right stuff, I can tell. And with a string of mentors helping you out, you’re sure to go far. You’re already ahead of most of us. I’ve never had a mentor and have had to figure it all out the hard way. I’m 34 and nowhere near where I expected to be by this age, but there’s still time for me to get it right with what I know now. If only the internet existed when I was your age I would be a millionaire by now! [biggrin]
Cheers,
Michael.Hi Jake,
It is good to see another ‘south aussie’ on the forum! You sound as if you’re in the same sort of situation as myself. If you don’t mind me asking, what suburb are you in? I’m in a country town of approx. 6,000. What sort of areas are you looking to invest in (without giving too much away of course)? What has been your biggest difficulties so far in starting out?
Sorry if it sounds as if i’m being nosy, I think it’s interesting learning about others.Cheers
Destined.G’day Jake,
Im in SA as well
Im 26 and recently bought my first IP (6 months ago)…At the moment im cashing up to buy my 2nd IP in approximately a years time while keeping my finger on the property market pulse….
All i can say is you’re very lucky to have a mentor/s to assist you! Im still looking
Welcome to the forum and good luck mate!
Cheers,
Damon
P.S. Is there a PI group in Adelaide at all?
In theory, there is no difference between practice and theory, in practice, there is….
Jake,
Welcome to the forum, I am sure you will do well in the near future.
I have a couple of investment property in SA. So I am sure you will find plenty more over there.
Kind regards
Jet Dollars
“The road of some-day lead to the town of nowhere”Another South Aussie, we are swarming here.
Welcome and good luck.
SA is a state of opportunities.
Byronent
Adelaide SAHi Jake
These Mentors
How and where did you find them?
Abbee, anyone that does what you want to do and is succeeding would and could be classed as mentor.
Friends and family are also there I guess if you can count on them for support and brainstorming. I usually use business people in fields that I am trying to enter that I have met through networking.
You find there are lots out there wanting and willing to help.
You searching for a Mentor?
Byronent
Adelaide SAHi Byronet
Unfortuneately I dont know anyone likeminded, or to even talk to about properties I find which I think may be a good deal.
This is why I am still in my confort zone, still looking, finding and not moving forward as I would like.
Hey everyone!
its excellent to see so many replies,
and its good to see some other south aussies on the forums!Thanks to you all for the positive comments [biggrin]
Lucifer_au:
thankyou. i hope to do something ‘business-wise’ in the near future, i have kind of been just sitting for a few months now trying to decide what to do (analysis paralysis), but hopefully i will stop procrastinating and get into action.MichaelWhyte:
cheers mate! i wish you the best in your endeavours. yes the internet is a great tool when used for good! what is it exactly that you believe would have helped you the most had the www been around earlier?destined_for_millions:
hey i like your username mate! nice one.
I currently live in St.Peters near the Adelaide CBD but i have been moving out and as of monday, i will be living in a new place at HighGate. Where is the town that you live? is there many opportunities for you there?
The areas i am looking at are anywhere within a reasonable driving distance from Adelaide, say 3 or 4 hours drive. this is because i will be able to view the places easy enough and will keep me semi-within my comfort zone (my comfort geographic[biggrin])
i am avoiding towns along the murray because the prices are somewhat rediculous in places and i think it would be hard to get a good return without a lot of searching and research.
biggest difficulties would be making the right contacts (networking) and finding potential areas to invest in. this has been helped by meeting some people who are successful in the PI field who have been helping me along the way, and have been suggesting potential geographics to look at. also i have been reading and researching PI material (books etc.) for quite a while, which has helped me a lot. its getting hard to write this, as it is getting very long, but feel free to send me a pm and we can chat further!
and; YES!, learning about others is extremely interesting and helpful.kinks:
hey mate, where did you buy your first IP if you dont mind me asking? where are you looking to invest next?
I have found that most rich/wealthy and successful people are more than happy to help others who are aspiring to thier level or beyond. i figure this is becuase they get a sense that they have really achieved something, and that they are looked up to and respected. theres no harm in asking any questions to these people you look up to. you may be surprised; they might not shutup!
as for a PI group in Adelaide, im not sure, and if there is one i would be very interested to know, so let me know if you find out anything.
i wish you well with your investment journey too mate! cheers.JetDollars:
thanks for the support mate. i take it you have IP elsewhere? how do you find that SA fairs up against other locations in Australia, in terms of price, returns, tennants, etc.?byronent:
Thanks mate. another fellow SA resident, good to see!abbee:
well there are many people whom i admire in Adelaide (business people and property investors etc.). starting with my grandpa whom i admire greatly; he has given me some great tips about investments (though he is a little on the conservative side). his career began with his best friend when they started a furniture business which has expanded into the largest furniture retailer in the state (and possibly others)… see if any of you Adelaide residents can guess the business in question?
as for property investment, one of my friends (though a lot older than me) who has a very successful business introduced me to one of his friends who is an extremely successful property investor. they have then introduced me to one of their close friends who is also their main investment partner. they have both expanded beyond Australia with their property investing. both of these people have helped me a great deal and if you are reading (not sure if you are members here), you know who you are! i cannot thankyou enough!i better end it here because my fingers are getting sore! hehe.
everyone please feel free to pm me if you like.
Cheers all!
Jake
JetDollars:
thanks for the support mate. i take it you have IP elsewhere? how do you find that SA fairs up against other locations in Australia, in terms of price, returns, tennants, etc.?Short Answer: Dirt Cheat, and I believe you still can find them, but I haven’t do property research for 7 months now so they might be up since then.
Kind Regards
JetDollars
“The road of some-day lead to the town of nowhere”so your just sitting on your property holdings at the moment then?
cheers mate.
Im 26 and recently bought my first IP (6 months ago)…
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