Another day. Another young property investor

Discussion in 'Investor Stories & Showcase' started by Mumbai, 15th Jun, 2016.

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  1. Mumbai

    Mumbai Well-Known Member

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    Mumbai, 15th Jun, 2016
    #1
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  2. trinity168

    trinity168 Well-Known Member

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    He's young, dedicated and focused. Good on him. @Jamie Moore, are you his broker? There was mention of your name in the article.
     
    trinity168, 15th Jun, 2016
    #2
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  3. bobbyj

    bobbyj Well-Known Member

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    Mindless comment #1: it's not the number of properties that matters, it's the total value and the LVR.
     
    bobbyj, 15th Jun, 2016
    #3
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  4. bobbyj

    bobbyj Well-Known Member

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    Working at maccas and saving $20,000 is amazing. They pay like $6/hR to kids
     
    bobbyj, 15th Jun, 2016
    #4
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  5. C-mac

    C-mac Well-Known Member

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    This guy has a healthy LVR risk exposure for his age and portfolio value to date. Plus, the high-yield chasing strategy he's employed, while on a modest salary, is a pretty smart way to build a sustainable portfolio at this age/salary composition.

    Good on him and @Jamie Moore well done for the mention too.
     
    C-mac, 15th Jun, 2016
    #5
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  6. HUGH72

    HUGH72 Well-Known Member

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    He has done well, good effort doing what he has so far on a low income.
    I'm not a fan of the property mix but they make sense in this situation.
     
    HUGH72, 15th Jun, 2016
    #6
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  7. EN710

    EN710 Well-Known Member

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    Yes, but CG wise, 40% increase in 4 years is pretty darn good ;)
     
    EN710, 15th Jun, 2016
    #7
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  8. Azazel

    Azazel Well-Known Member

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    Yep, you're famous @Jamie Moore :
    "But investing and accumulating many properties at a young age with income limitations is a difficult prospect for many, Pass Go Home Loans managing director Jamie Moore said."
     
    Azazel, 15th Jun, 2016
    #8
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  9. Barny

    Barny Well-Known Member

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    Fantastic cashflow. Bout 350'per week after all expenses straight in his pocket not including any extras such as depreciation etc into the mix. Well done
     
    Barny, 15th Jun, 2016
    #9
  10. Jennifer Duke

    Jennifer Duke Well-Known Member

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    He isn't his broker, I started speaking to Jamie after finding him through Prop chat :). Very knowledgeable and I'm a big fan of his.
     
    Jennifer Duke, 15th Jun, 2016
    #10
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  11. Steven Ryan

    Steven Ryan Well-Known Member

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    Good on him. Excellent portfolio built on that income in that timeframe. Avg yield over 9%. Great foundation.

    My property portfolio consisted of 0 IPs at 24.
     
    Steven Ryan, 15th Jun, 2016
    #11
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  12. Jennifer Duke

    Jennifer Duke Well-Known Member

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    (Also if anyone has detailed feedback about stuff they want to read more of, please email me: [email protected] - I took some info on board from last comments about details you'd wanted to see in a profile and did my best to include them in this article.)
     
    Jennifer Duke, 15th Jun, 2016
    #12
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  13. DaveM

    DaveM Well-Known Member

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    Great story. And not even a loosely veiled spruiker mentor company advertising piece, with numbers backed up by actual bank vals. Nice change for once from the real estate media.

    Good to see some SA holdings in there as well :)
     
    DaveM, 15th Jun, 2016
    #13
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  14. Shawn

    Shawn Well-Known Member

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    I want to be like him. Same ages, but we have got a huge difference in the number of properties.
     
    Shawn, 15th Jun, 2016
    #14
  15. Mumbai

    Mumbai Well-Known Member

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    Dont worry. Remember, once a great man said "it's not the number of properties that matters, it's the total value and the LVR"

    Actually, its was just @bobbyj. Ignore it ;)
     
    Mumbai, 15th Jun, 2016
    #15
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  16. bobbyj

    bobbyj Well-Known Member

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    It's the sqm size that matters most

    Great article. Reading it makes me want to buy more properties.

    If this guy continues to do what he's doing he should be able to sit on an amazing portfolio by 30.
     
    bobbyj, 15th Jun, 2016
    #16
  17. Chabs

    Chabs Well-Known Member

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    I'm 24 too, so its nice to see how successful people our age are going. I like that his buying patterns have echoed general somersoft sentiment (for example buying in QLD last year)

    Very true, your last line was amusing too, I'm sure you have come a long way now though.
     
    Chabs, 15th Jun, 2016
    #17
  18. Azazel

    Azazel Well-Known Member

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    Never let the truth get in the way of a good story ;)

    "His property portfolio returns $1500 a week, or about $200 a week in his pocket after costs. He uses this money to pay down the mortgages further, build a security buffer and save for future investments."
     
    Azazel, 15th Jun, 2016
    #18
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  19. Redom

    Redom Mortgage Broker Business Plus Member

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    Its a great story - kudos to him. These stories definitely inspire some young people and i certainly enjoy reading them (great work Jennifer).

    There'll obviously be a few more hurdles in the way for him moving forward when it comes to accessing bank funding, especially for properties 6-10. Continuing to purchase at low price points is also a big factor as it lets him split up his debts between lenders more easily (important for a strategy of lots of cheapie high yielding properties).

    For young people that are ambitious and have views to do big things in property (someone with 6 properties at 24), over the medium/longer term and through the next stage of acquisition, there's no substitute to working on increasing that income figure significantly. I usually find that people with this approach and determination find a way to do it given time and knowledge and continue to build the portfolio.
     
    Redom, 15th Jun, 2016
    #19
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  20. bob shovel

    bob shovel Well-Known Member

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    I am unable to comment until i recieve valued commentary from me peers on Facebook. Stay tuned:p
     
    bob shovel, 15th Jun, 2016
    #20
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