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A little about me..

Discussion in 'Introductions' started by SK Investments, 10th Oct, 2015.

  1. SK Investments

    SK Investments Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    174
    Location:
    Wherever the wind takes me, currently Brisbane
    Hi fellow investors and those aspiring to be,

    I was a late comer to the great Somersoft forums and caught the last year, I am now lurking around PropertyChat everyday, wearing out the "New Posts" tab.

    I'm from the South Coast of NSW, currently in East Gippsland Vic.

    I developed a keen interest in property in my teens, I came close to buying an acre of land in Laidley/Plainlands for $20k back in 2002. From memory they were $60k the following year. I even tried to get my parents to buy a 2 bedder in Coopers plains for $170k while I was living up there.

    I bought my first house at age 21 with some help from family. After a few career changes and some lost years I finally became determined to make up for lost time. At 30, Having sold my first home I bought 2 Ip's in Bethania Qld, and a renovator in Bairnsdale Vic.

    I'm now keen to get into some small scale developments but, due to the APRA changes will have to get creative to keep moving forward.

    Looking forward to the challenge!

    S.K
     
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  2. DanW

    DanW Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    400
    Location:
    Sydney
    Welcome S.K.

    What part of south coast are you from?

    Re APRA I think it affects ability to grow total portfolio size and buy and hold.

    But a develop to sell seems less affected according to the people I've been talking to. Even develop to hold some sell some can put you in a better income situation than before due to low LVR from the development profit.

    Something I'm investigating and I'm sure the brokers and developers on the forum can elaborate further.

    Talk to @Be Developer as well as he has been doing a lot in Vic market.

    Cheers
     
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  3. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
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    Location:
    Sydney
    Welcome to the forum :)
     
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  4. SK Investments

    SK Investments Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
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    Location:
    Wherever the wind takes me, currently Brisbane
    Hi @DanW

    I'm from Milton/Ulladulla/Mollymook.

    I've found a few good low entry point 2 lot subdivision opportunities, I was planning on a refi to get things started but banks serviceability is real tight. Should know next more week.
    I'm also looking into bringing my current IP's up to 7.5% yield with granny flats, hopefully that'll help a bit.
     
  5. DanW

    DanW Well-Known Member

    Joined:
    26th Jun, 2015
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    Location:
    Sydney
    Nice spot, I grew up in Nowra but did alot of holidays down south as a kid. Used to be good fishing down there but I can't seem to catch anything last time I went down.

    My parents are still in Nowra and my brother has a permanent site in Durras caravan park I visit down there a bit. Nice quiet relaxing beaches.

    You buying the sites in Vic? Or south coast?
     
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Gday @SK Investments , good to see you.

    It is a nice area, are you considering investing anywhere in the South Coast?
     
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  7. SK Investments

    SK Investments Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
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    Location:
    Wherever the wind takes me, currently Brisbane
    Yeah It's a great spot @DanW. We used to go shopping in Nowra, I think it was Supabarn back in the day. These days Ulladulla has a lot more to offer and my home town Milton is no longer the sleepy little village it was when I was a kid. We had friends in South Durras so used to visit there often.

    Hi @Azazel, Always looking for opportunities but obviously limited by finance. I look at termite damaged or renovation potential (Mollymook is good for this), and development potential.

    Reno examples:
    http://www.realestate.com.au/property-house-nsw-mollymook-116184539
    http://www.realestate.com.au/property-house-nsw-mollymook+beach-118883499
    http://www.realestate.com.au/property-house-nsw-mollymook-117689695

    And Dev site:
    http://www.realestate.com.au/property-residential land-nsw-ulladulla-200577527

    The family still hold a property in the centre of Milton, I will probably end up back there one day.
     
  8. Be Developer

    Be Developer Property Developer Business Member

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    Location:
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    @SK Investments

    You are spot on Mollymook for reno potential properties.

    If you are intending to flip that sort of prop, I strongly suggest to set up buying structure correctly. It may save you few thousand in tax!

    Good luck!
     
  9. SK Investments

    SK Investments Well-Known Member

    Joined:
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    Location:
    Wherever the wind takes me, currently Brisbane
    Thanks @Be Developer.

    Forgot to mention @DanW, sites I'm looking at are in Vic as entry cost is low $100k and subdivision costs only around $15k.
     
  10. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,390
    Location:
    Mt Druuiitt
    Welcome SK.

    Bit about me.

    I'm an investor in Mount Druitt. Welcome to Bogan country (the magnificent 7 music playing). You can have a chuckle, I'm used to it.
     
  11. BuyersAgent

    BuyersAgent Well-Known Member Business Member

    Joined:
    19th Jun, 2015
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    Location:
    Oz
    Gday SK, nice intro mate.

    I can vouch that @SK Investments is a talented investor, fast learner and has already done very well on limited income. He will go far.

    Matt
     
  12. Azazel

    Azazel Well-Known Member

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    Location:
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    South Durras brings back memories too, we used to camp and (try) surf at the unpatrolled beach there.