I’m 25 and I’d love to hear if there are any young people out there (say 25 and under) with some inspiring stories of how they got started and what they’re up to in the world of property investing.
Dan LewisloungeactMember@loungeactJoin Date: 2005Post Count: 15
Nice thread, I second that. Would be very interesting to hear from you, should be inspiring to those of us who are young but yet to jump in to it yet.Fast LaneMember@fast-laneJoin Date: 2004Post Count: 527
I’m 23 and relatively new to the property game. For the future I’m seriously thinking about getting into the wrapping business, at this stage I’m into cashflow, not exponential capital gains.
For me it’s all about lifestyle, and the more money coming in the better.
A few years ago I thought property investing was for wimpy old codgers who were too scared of the stockmarket. I became enlightened to my ignorance just as the boom was winding down, but plan to be ready for the next.
Hope this helps…G7destined_for_millionsMember@destined_for_millionsJoin Date: 2004Post Count: 38
I’m 19 and bought myslef a PPOR about a month ago. I’m planning to do some reno’s myself eg. front garden, paint inside and out and maybe the kitchen. Hopefully i can add substantial value without spending too much and then i’ll use the equity to borrow for my first IP. The plan is for one before i’m 21. Then i’ll be on my way to financial freedom![biggrin]
Hey Destined for Millions,
I love your name… I believe it! I take it you used the First Home Owners Grant for that one. If you don’d me asking, did your parents give you any financial assistance to help you get started? What area did you buy in?
Dan Lewisdestined_for_millionsMember@destined_for_millionsJoin Date: 2004Post Count: 38
Yes i did use the FHOG to help with the deposit and buying costs. My parents offered me $3,500 as a gift… of which i have only used $1000 for necessities such as a $500 factory second washing machine and other bits and pieces. I had already saved around $6,000. (I also used LMI, which was covered by the FHOG) I bought where I live, which is a medium sized town called Naracoorte in South Asutralia. The house was somebody elses ‘renter’ @ $145 p/week and is in no way cf positive, which doesn’t really matter to me as yet as there are improvement options.
Hope this answers your queries
CheersStill in SchoolMember@still-in-schoolJoin Date: 2003Post Count: 1,844
Hi Tribe of Dan,
i started out my property investing career in April 2002, at the time i think i was 20 years of age, anyways.. i started out with completly nothing.. today im age 22 (turning 23 this year) i have close to or around 20 investment properties under my name, ive only ever sold 2, but my goal is to attain 100 properties by the age of about 30 and before i go beyond the grave, i want to see that, when i have children, that my own family have a portfolio of over a 1000 properties in total. (that is my ultimate goal)
today i no longer work, im not retired or anything, but i treat property investing as a business, it does take alot of determination, but also its not luck, but in the words of Peter Spann’s book.
if you have that in place, and you understand that money is just an idea.. you will quickly understand and think of a strategy, that will help you produce a plan, that can lead you to great fortunes or on the path to wealth..
sisjopieMember@jopieJoin Date: 2004Post Count: 15
im 20, just purchase my first +CF property recently..
its netting over $2000 per annum (net=after ALL expenses).
i will be looking for the next one asap!
dont have much time to go into it more but if any other keen people want to talk business, property, or securities, or just talk please feel free to add me to your msn or send me an email!
JakeCrownOfGoldParticipant@crownofgoldJoin Date: 2004Post Count: 26
Hi. I’ve just turned 25. My background is this:
– I spent 4 years in Uni studying Engineering, straight after school. I started Uni at 16. A bit young I guess…so I had 4 years to mature[cap]
– I then got a full time job at 20 earning about 45k. While working, I also studied IT part-time, tutored high school students, lectured one unit at Uni and saved like mad. I bought a second hand corolla for 10k with my savings within a month and my first IP within 3 months. I stopped tutoring & lecturing because I was heading for a mental breakdown![blink]
– My first IP was a CF +ve fluke because I was clueless about investing. My parents went guarantor for me (bless their souls) or else I couldn’t have done it. It was a one bedroom unit in downtown Darwin. Fantastic returns, zero vacancy, great depreciation.
– I bought another new 2 b/r unit in Darwin a year later. Again, my parents were guarantor and my savings as a deposit. Very good returns, good depreciation.
– I bought a 3 b/r townhouse 2 years later on the outskirts of Brisbane, 5 mins from the sea. CF -ve. Probably not the best move in hindsight, but it’s possibly neutral now and should experience nice gains. With this purchase, I put down a huge deposit and removed my parents as guarantors for all my properties.
– I sold the first unit this year because they are building a monstrous 33 story apartment right next door, replacing my harbour views with a concrete wall. I made a reasonable profit from the sale which I’m now sitting on.
– I’ve enjoyed dabbling in shares along the way, just for fun. I treat it more as a learning experience more than anything, but I’ve probably made better returns from it than property.
– I’ve also thrown in a healthy dose of ‘life’. Although I am a bit scroogey, I really enjoy travelling and have done long trips to Canada, USA, Asia and all around Australia. Mostly to attend church camps and do the work of God.
– Now, I’m about to get married and am focusing on moving out of home and paying down the ppor by consolidating assets. It will give me time to bake cakes, dress our home, think about babies and on the more important things in life…. We will probably invest again when the market’s down and we’re in a good position to reap the deals.
Loving all these stories, they’re all so inspiring. Keep them coming! I could learn so much from you guys thanks.
Still in school, you blow me away. Let no one say it can’t be done huh?
CrownOfGold you’re sound like you’ve got your head screwed on. Thats so awesome… congratulations on getting married.
Perhaps some of you guys could give me some advice. As you know I’m currently 25 and have only about 8k to my name. I have no debts and generally save around $230 per week. I’m keen to get going with my first +ve CF IP hopefully before September this year.
My folks would possibly be willing to help me with my first down payment (which they would have no trouble doing)
What would you guys do in my situation?
[suave] Dan LewisFast LaneMember@fast-laneJoin Date: 2004Post Count: 527
Here’s one for you Dan, when I was 18 one of my friends of the same age wanted to buy a house in our town for $80 000 to do up and live in. He was pretty handy on the tools and was an apprentice landscaper at the time. However, his parents and others that he worked with laughed at this suggestion so he canned his plans and probably any plans for a RE investing journey.
This house would now be worth atleast $200 000 and instead of owning it, he bought a fancy car instead and promptly wrote it off within 12 months.
I think you’ll figure out the moral of this story, so be warned, be careful who your taking advice from!BonbeachParticipant@bonbeachJoin Date: 2004Post Count: 214
I am 24 (ok, ok – 25 next month)… Ill give you a quick run down to keep you motivated. I dont think there are enough of us under 30’s out there investing so I like to ‘try’ and help others around my age…[blush2]
I left school at the end of year 10, after working part time since 14. Got a full time job in 1997 and bought my first car. Changed jobs, got a promotion, bought my next car. Car crashed so I bought another car while that was getting repaired. Started my own business in 1999 then bought a different car. Bought project car and spent 45k on it all up over 3 years (ouch) Business grew so I bought 2 more cars and employed staff. Bought my first house in 2001 and renovated it from top to bottom. Traded two of the work cars and bought a Monaro. Sold business in 2003 and moved to Sydney to get full time job. Bought 2nd property in April 2004 (still got the Monaro), relocated with work to Melbourne after living in Sydney for 13 months and bought 3rd property in November 2004. Finally settled down here in Melbourne and have just purchased my 4th property about 300m from the beach on a dual occupancy site with an old house on it.
There you go. My advice: Dont buy cars, dont try and do everything now, take your time and things will happen. Have a plan written down and how you are going to acheive it. Get a GOOD MORTGAGE BROKER (I can suggest a good one who is on this forum)
I have spent a fortune on getting into and out of the wrong loans, if only I knew a good contact back then, but you learn from these mistakes! I have lost probably 100k on the 10 or so cars I have bought, but I have enjoyed it.
Feel free to message me if you have any questions or what to know anything else [cap] I will be happy to help!
Go for it, have fun while you build your future, and live with NOREGRETS!
Dev [biggrin]quy17187Member@quy17187Join Date: 2003Post Count: 22
Hi, my age is above 25 but I have a sister who is twenty-four. She has done Environmental Science and now a fashion course. She’s just going to settle on a property soon. My parents are wrapping her the deal.
Thanks.KidMember@kidJoin Date: 2004Post Count: 6
Would like to say a big thank you. I am 23 years old and I am only just staring out in the property game. The reason I say thanks is that with the amount of us that are young is amazing and as well as how well you guys are doing. There is hope for me yet. Keep up the good work.
[biggrin]AdministratorKeymaster@piadminJoin Date: 2013Post Count: 3,225
Im glad there are so many young guns comming out of the wood work. I have been reading alot from this site only. As a first time poster still finding my feet i have actually learnt alot from the past few weeks of reading. So thanks guys
AND YOU CAN TAKE THAT TO THE BANK !!!!!!!!!!achieverParticipant@achieverJoin Date: 2004Post Count: 23
Congratulations to you all. What great achievements. I wish I could say I was in my 20’s.
Keep up the good work.
AchievereconomistMember@economistJoin Date: 2005Post Count: 3
Wow! This is so impressive! I am finishing my degree in economics (economist) and thinking to do Masters in Professional Accountency…but then…well, if everything works out the way I plan I will be able to post an amazing story of my own. For now, though, thanks for keeping the flame of my hopes burning bright and strong
Work hard today so that you can rest well tomorrow…NahnaMember@nahnaJoin Date: 2005Post Count: 8
Well, here’s my story. Currently 25, my partner and I bought our house at 20, bought our first investment property at 23 (took a bit to convince my partner). I am looking forwarded to doing heaps more, still trying to convince my husband who thinks that doing one once a year is good.tony wpbMember@tony-wpbJoin Date: 2005Post Count: 88
i love these stories. i am now outside your age bracket at 30 , but i began investing at age 17 , i have had the good fortune of time being on my side(as all of you youngsters do) and now have in excess of 60 IP . I tend to have a different strategy to most on this site i only buy bluechip properties. Any how i started my working life as a sparky , and thought it would be good to invest in property . I guess what i am saying is any one can do it … just remember your dreams and stay focused.castonParticipant@castonJoin Date: 2005Post Count: 58
I’m 24 and I don’t own any properties yet. I’m self-employed (but less than someone on min wage would earn) and I live with my parents. At the moment I’m just saving as much as I can.
Got my eyes on the stock market, property trusts, full time jobs, cf+ properties etc.