Advice for a failing portfolio and a poor start

If you think this is failing in the investment world then hand me my noose now please . Not sure if fishing for compliments or not though haha

Hold tight for a few years and you'll be cheering. You've done well mate..

 

With 5 properties I hope you're not sponging of mum and dad.

 

Looks pretty good to me too!
Just give it more time, you can't expect things to pan out immediately!
Real Estate is a long term game

 

Is this a joke?

I'm not going to blow smoke up your ass, you need to chill!

Get your goods revalued. Sheesh. Way to make the rest of us feel lousy.

 

After reading hotmail's post, I am not happy.

 

Best PC post combination so far.

 

Are you here to look for compliments just like those teen girls that post their photos on girl forums with a title of "I'm ugly and fat don't click in" and hoping people will leave a comment complimenting they look great? LOL just kidding boy you are doing great

If you genuinely thinking that you have a bad start and got yourself into a mess, from the name of my cat I'm happy to take over your portfolio from you at no cost so you can have a fresh start

 

1. Your yields are good. Have you looked at what kind of yields Sydney is generally getting these days?
2. There's nothing wrong with having your properties at different price points.
3. Nothing wrong with different LVRs either

Switch to interest only on all your loans if you haven't done so. Save up a bit of a cash buffer as your LVRs are generally quite high for when IRs move up

 

I stupidly bought a serviced apartment as my first investment. Now that was a failing portfolio move right from the start. I was lucky to get out of it with only a low 5 figure loss.

I think you need to read up on the process a bit more and not expect massive gains over night. If you want to take that risk then do developments. Otherwise sit tight and be happy that you are off to a flying start.

 

Sell it all, problem fixed... You are just baiting for complements.

 

Woah. Helluva start. I take that as start if I could.

 

I'm also wondering whether this is a joke as there are not many people who can accumulate 5 properties in about a year. Hotmail hasn't yet responded to any of our posts yet.

 

Since he said he's an introvert maybe he is sitting in the corner now drawing circles and having some private time with himself considering some of our offers to him (including mine, pick me pick me!)

I'm sorry this will be my last dig of this thread, I will shut up from now on

 

Plenty of members here would love to trade portfolios with you.

 

Maybe that post is to make us all feel bad about ourselves?

Hotmail says that he's living at home with parents. If his expenses are small and serviceability large enough, he could possibly accumulate that many properties in a year... Maybe the brokers on the forum could confirm if it's doable.

 

Step 1) Print out the property clock and look at 7 o'clock
Step 2) Look at the location of those IP's
Step 3) Enjoy

 

Property investing is not for instant gratification! It can take years to bear fruit, but when it does, it's the tastiest juiciest fruit you'll ever taste.

 

Hello everyone, I am a bit shocked at some of the replies but nevertheless thanks I guess.

To all the people who think I am joking or trolling, I am not unfortunately. I wouldn't waste my time typing up a wall of words for a "fish" or "troll". If I wanted to enjoy myself I would certainly not spend it making a big joke on the forum. And it's certainly not to make anyone feel bad? I think we all have much better things to do than that. To BigWill posting about selling the portfolio, even though I have never sold properties before I'm pretty sure I can't do that due to capital gains meaning that I will have lost money overall

I actually posted this because yesterday I had an offer rejected on a property recently and yesterday night could not sleep properly and was worried about the situation with markets increasing so rapidly, not a lot of good stock on the market particularly in Sydney, but now also Brisbane. I usually try not to post much here because I know some of the criticism can be quite harsh, but I was desperate and needing ways to improve.

I genuinely believed and still believe a lot people on this forum have property portfolios of 7-9% (buy and hold) as I have been reading the boards for a couple of years now. I was hoping to get some advice on how to negotiate those properties. I'm not sure why people are raving about the 6% yields, after holding costs these properties are still slightly negative cashflow by about 20-40 dollars per week each when in suburb threads a lot of people are buying things which are 10-20 dollars per week positive.

I think I may go and read some books on negotiation now and use the strategy of calling all the property managers in the area before I buy to get a good idea. Even with the flames I thank everyone for the encouragement in between. I didn't know about the idea of calculating deals using 105% lend as I used to just calculate it using the buy LVR%

 

A couple of rent rises and you are positive cash flow, have you even done a tax return since your most recent purchases?