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the property investment thread

The Hulk said:
In all honesty, you are the only one who can truly answer that question.
And you can find the answer after doing more research and projections while considering the future risk vs reward, how long it will take, what sacrifices you are willing to make, and whether it will suit your personalities and lifestyles.

To be good and sucessful at something, it helps to have a passion for it.
You can become passionate about new things and experiences.
Or you may try new things and like it at first, but hate it later.
Click to expand...

This is a brilliant post.

Most people want to know the "how", but if the mindset isn't right and you aren't prepared to put in the effort required, you'll get nowhere.

So many parallells with lifting..... Simple? Yes. Easy? No.
 
hyjak said:
ive been looking at the jan somers books to buy, which one would you suggest i start with?
Click to expand...

More wealth from residential property is the best one. Fact is, if you read this book, and acted on it's advice, you would retire wealthy. Simple as that.

Also well worth reading:

  • How to get rich - Getty
  • Richest man in Babylon - Classon
  • Think and grow rich - Hill
 
thanks for the answers guys, it is easy to get carried away reading this thread but i wont be acting on anything for awhile yet, Adrian your comment about "investing in yourself first" has stuck in my head and improving my income through my trade and getting through our wedding debt free will be my first priorities, after that if i am still researching and looking at property then i guess we will begin to look at it seriously.
 
Yeah investing in yourself is something I agree to highly. My combined income is $250k and have been pre-approved to borrow 3mill maybe more now since I have more equity.

I would never have this kind of borrowing power if I didn't take control of my personal career first. This is not to say a person making 40k can't invest I've seen uni students having 2 units while working at hungry jacks on the weekend they just have to watch what they spend more.
 
lol I wish one day. I only work 35 hours a week. I worked hard when I wad younger doing the jobs most people wouldn't do. Lots of hours and shit.

I'm currently a senior sccm infrastructure architect. Simply I can deploy windows 7/any software to 40000 plus machines in 3 weeks with 3 juniors at our desks.
Pretty boring shit it's just a job as with most it had it's days.

Paid 50k in taxes before I started investing. Fcuking taxman!!
 
I'm really keen to get investing and have been trying to establish some good habits for myself. I work about Full time at the moment (uni break) but when I get back to uni work drops down to around 30 hours / week + study.

The bitch is finding time (and motivation) to do research.

With regards to habits in place

33% of net income in to a savings account
15% of net income in to a 'float' account (there to pay bills, rego, textbooks)
52% Remainder is pretty much spending money (petrol, food, the lady, expenses add up quick >.<)

I'm 21 and aim to have about 25k saved up by the end of next year (as long as everything goes to plan, car keeps running etc.) I'd ideally like to have my first property purchased before 1st Jan 2012, where and what sort of investing strategy I haven't decided yet.

The tried and true duplication seems easy, however there's some areas around my way which seem ideal for the "Buy big block of land... rent, rent rent and then when the cash is there add a granny flat".
 
very interesting thread, and you guys have motivated me to pursue this further.

in short, at 24, i have saved up about $250K, and i am not on a good salary. this is purely throuhg saving, putting my money in high interest accounts etc. i have a very strong maths background and can see this being something that would appeal to me.

early last year, i saw a financial advisor who recommended i put my money in managed funds. i lost about 6% within 2 weeks of the funds being transferred. i have since gone back in the black by investing some more when the funds were down.

i feel this is a waste of time, but i also feel that property is so expensive. i was for a house to live in around feb 2009, but everything just looked, well, shit.

i think i might sign up to that somersoft forum, might see some of you around there!
 
pistachio said:
in short, at 24, i have saved up about $250K, and i am not on a good salary.
Click to expand...

That's incredible - how much have you been putting aside each week?

pistachio said:
i lost about 6% within 2 weeks of the funds being transferred.
Click to expand...

Warren Buffett says if you aren't prepared to see your funds drop by 50% you shouldn't be in stocks; and you should be in for a MINIMUM of 10 years.

pistachio said:
i also feel that property is so expensive.
Click to expand...

It won't get any cheaper....

pistachio said:
everything just looked, well, shit.
Click to expand...

$250k is a 20% deposit on a $1.25m property, but your limitation is probably income.

Have you been to the bank to ask how much they would lend you?
 
Ben said:
That's incredible - how much have you been putting aside each week?

Warren Buffett says if you aren't prepared to see your funds drop by 50% you shouldn't be in stocks; and you should be in for a MINIMUM of 10 years.

It won't get any cheaper....

$250k is a 20% deposit on a $1.25m property, but your limitation is probably income.

Have you been to the bank to ask how much they would lend you?
Click to expand...

most of my income: i have basically been living very frugally my whole life, i've been saving since my first job. i don't spend a lot on clothes, cars etc, i figure once i am loaded, i can have all the nice things i want then :) being a maths man, i am aware that money in my hands now is worth a LOT more later down the track. the $50K i could spend on an awesome car now will be $200K later on which i can buy an even better car!

i know about all that for shares, my point was more that my financial advisor was pretty shit... I am prepared to leave it in there, although at the moment, I am sitting at a modest 5% gain over about 10 months. of course if i want to use it for property investing, i'll need to take it out..

and thats always the argument for property and i am inclined to agree with it now.. after studying an investment course as part of my studies, property is beginning to look more attractive.

i'm only on about $70K at the moment, but it is in government (ie very secure) and i have a demonstrated savings pattern which should help a bit when it comes to the bank. i always pay off my credit card in time too, not sure if that helps. but in short, no i haven't been to the bank yet...
 
property goes through lows and highs.. Just gotta know when to sell if u do.

e.g one of my properties pre 2008 was valued at 410k..

It went down to 375k during the whole Global financial crisis.

Now in 2011 the bank has estimated it at 480k..

I bought this particular property for only 3 years.
 
pistachio said:
very interesting thread, and you guys have motivated me to pursue this further.

in short, at 24, i have saved up about $250K, and i am not on a good salary. this is purely throuhg saving, putting my money in high interest accounts etc. i have a very strong maths background and can see this being something that would appeal to me.

early last year, i saw a financial advisor who recommended i put my money in managed funds. i lost about 6% within 2 weeks of the funds being transferred. i have since gone back in the black by investing some more when the funds were down.

i feel this is a waste of time, but i also feel that property is so expensive. i was for a house to live in around feb 2009, but everything just looked, well, shit.

i think i might sign up to that somersoft forum, might see some of you around there!
Click to expand...

Out of curiousity, what degree do you do? Quant risk/actuarial or something?
 
pistachio my mate is an actuary. He earns 200k a year for price water house coopers (PWC) and does audits for mega large companies. He didnt even top his uni classes :D
 
unt0uchable said:
Out of curiousity, what degree do you do? Quant risk/actuarial or something?
Click to expand...

i did a bachelor of science with majors in pure and applied maths.

i am now studying actuarial sciences through the institute of actuaries (so basically teaching myself). i'm half way through part 1, still got about 3-4 years to go, although I should be able to nab a job in the industry in 2012

ceffo said:
pistachio my mate is an actuary. He earns 200k a year for price water house coopers (PWC) and does audits for mega large companies. He didnt even top his uni classes :D
Click to expand...

hehe, yeah they are meant to get paid pretty well. but i need to DO something with my money, earning a decent crust certainly helps, but it won't provide me with an early retirement. i need to start using OPM!
 
JDizzle said:
my $50 says it will
Click to expand...

My $50 says that if you buy in a reasonable location, over my investment timeframe (MINIMUM 10 years, preferably don't sell at all) you'll do well.

It's time IN the market, not timing the market that counts.
 
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