The situation is that I am currently 19 and am wanting to embark on a property investing journey but don’t know the best route to follow considering my situation. I currently have no debts and around 900k in the bank. I am looking to create an income of around 150k or more within the next two years. I would greatly appreciate any advice experienced investors would give me of how to do this. Whilst talking to the bank I am able to lend 500k+ if need be. I own my own house which I would like not to involve in this. Any help would be appreciated.
Matt.Tysonboss1Participant@tysonboss1Join Date: 2007Post Count: 306
The person holding the silver spoon in your mouth should be able to offer some good advice,
thanks really helpful. You are a genius! I will take what you said in consideration and try my very very best to practise it.
Again. freckin brilliant! You are somthing very special!
By the way is there any way i can contact you. to discuss what you said.
Since I have the ability I might as well use it. I want to see you do very well in your life and i will spend as much as i have to in order for this to happen.
read between the lines. I am not a ememy you want to make. smart ass.
MattTysonboss1Participant@tysonboss1Join Date: 2007Post Count: 306Myap wrote:thanks really helpful. You are a genius! I will take what you said in consideration and try my very very best to practise it. Again. freckin brilliant! You are somthing very special! Your friend Matt
Sorry if I offended you with my tongue in cheek answer,
I actually thought that this thread was a prank, surely If your 19 and you have $900,000 cash and own your own home, then you must be surrounded by some people who quite well off and very skilled at managing money, talking to them one on one would be the first thing I would do,
Your original question was quite open, if you do want to throw around some ideas ask some more specific questions about what it is you need to know,mackarMember@mackarJoin Date: 2006Post Count: 106
with your existing capital & potential to borrow & then re borrow I would consider commercial property as an option… greater returns & less outgoings (as the tenant is also liable for costs that are usually borne by the vendor)…. also depending on your region in Australia some potential high capital gains too… good luck
MichaelbeaniemonsterParticipant@beaniemonsterJoin Date: 2006Post Count: 48
a bit dissapointing matt, why do you feel the need to say 'i'm not an enemy you want to make'? that can sound a bit threatening don't you think, or was that your intention.
Tyonboss was a tad right, your post came off pretty vague and i think we could all agree there are not many 19yr olds with that sort of money.
Just remember respect can go a long way and there are a lot of experienced people here that i'm sure would be willing to help if you shed more light on what path you would like to take. Maybe do a bit of reading on commercial, residential, shares etc and chat to your accountant. I'm sure with that sort of money you can diversify and be successful if you undertake proper due diligence on any venture. You don't state if you are at uni or have a job, maybe a franchise that you could be hands on with.
Keep us up to date with how you go along the way, we all love a success story!beaniemonsterParticipant@beaniemonsterJoin Date: 2006Post Count: 48
Sorry Matt, i forgot to mention if you aren't working or at uni you could embark on a few reno's in some suburbs with growth potential and then rent them out and then in 10yrs time develop on the blocks for further growth and depreciation. Suburbs close to any beach and within 10kms of a capital city usually are your best bet. Research, Research, Research….Location, Location, Location…..NucopiaMember@nucopiaJoin Date: 2007Post Count: 102
At the moment what you lack the most is , knowledge and practical experience !
At 19 you seem to be a very fortunate young man, and weather you inherited the hard work of some one else or just chose the correct numbers in tats lotto is not important . Whats important is that you realise that you need to develop the correct attitudes and charecter traits of a mature minded investor. While you may not have a silver spoon stuck in your mouth , the chip on your shoulder is self evident. .If you want to be taken seriously here on the forum then cut out the vailed threats…
Children often react and are controled by impulses that more mature minds will not be influenced by, and most succesful invester do not operate on impulse but on clear well thought out and logical reasoning they would assess the circumstances of any given situation and then determine the appropriate response.There is very little room for emotional responce in investing.
If you learn to control the impulse to act based on emotional responce, then you will more likely then not, make better (investment )choices..
Read, ask and learn all you can from the forums, the experiences of the members and from books, articles and web sites that are dedicated to property investing.
Investing is a life long journey worth the effort so Invest in your self and good luck on the learning curve!
Welcome to the Forum….Cath WoodParticipant@cath-woodJoin Date: 2007Post Count: 19
Gosh things got a bit heated here for a few moments, didn't they?
The problem with tongue in cheek is that one can't see it in writing. And we all know the problem with firing off a quick response.
Matt, I would think that with 900 000 in the bank, you have many options open to you if you want to make 150 000 a year. I have recently been looking at a company that "is a boutique fund manager focusing on investing in Australian listed shares and securities in a tax effective manner." (I just lifted that from their website).
They have been achieving returns of 30-40% per annum, which in your case would mean a return of 270 000 to 360 000 per annum.
So you might want to look at a combination of tactics. I mention this because your original post does not specify that you only want to look at real estate, though obviously the fact that you're here indicates that.
I think the advice to further your education is also sound. If I were in your situation I would attend a variety of courses by different presenters. I would look at real estate as well as other investments and businesses, and I would definitely look at personal development – investing is 90% about what's going on upstairs. You have the means to develop yourself into a really noteworthy human being, and you will offer a lot more to both yourself and the world in this way.