Join Australia's most dynamic and respected property investment community

Another day. Another young property investor

Discussion in 'General Property Chat' started by Mumbai, 15th Jun, 2016.

Tags:
  1. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    763
    Location:
    Sydney
    Dwalsh, Xenia, bob shovel and 13 others like this.
  2. trinity168

    trinity168 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    404
    Location:
    Sydney
    He's young, dedicated and focused. Good on him. @Jamie Moore, are you his broker? There was mention of your name in the article.
     
    Jennifer Duke likes this.
  3. bobbyj

    bobbyj Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    193
    Location:
    Sydney
    Mindless comment #1: it's not the number of properties that matters, it's the total value and the LVR.
     
    MJS1034 and Plutus like this.
  4. bobbyj

    bobbyj Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    193
    Location:
    Sydney
    Working at maccas and saving $20,000 is amazing. They pay like $6/hR to kids
     
    Paterson00 and Elives like this.
  5. C-mac

    C-mac Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    794
    Location:
    Sydney
    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.
     
  6. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,122
    Location:
    FNQ
    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.
     
    Leo2413 likes this.
  7. EN710

    EN710 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,105
    Location:
    NSW
    Yes, but CG wise, 40% increase in 4 years is pretty darn good ;)
     
    House likes this.
  8. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    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."
     
    Jennifer Duke likes this.
  9. Barny

    Barny Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    1,178
    Location:
    Melbourne
    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
     
  10. Jennifer Duke

    Jennifer Duke Well-Known Member

    Joined:
    23rd Oct, 2015
    Posts:
    286
    Location:
    NSW » Sydney
    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.
     
  11. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    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.
     
    Tekoz, albanga, Cactus and 2 others like this.
  12. Jennifer Duke

    Jennifer Duke Well-Known Member

    Joined:
    23rd Oct, 2015
    Posts:
    286
    Location:
    NSW » Sydney
    (Also if anyone has detailed feedback about stuff they want to read more of, please email me: jennifer.duke@fairfaxmedia.com.au - 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.)
     
    Jkat, MRO, Terry_w and 12 others like this.
  13. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,099
    Location:
    Sydney & Adelaide
    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 :)
     
    ross100 and Kinnon Bell like this.
  14. Shawn

    Shawn Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    146
    Location:
    Sydney, NSW, Australia
    I want to be like him. Same ages, but we have got a huge difference in the number of properties.
     
  15. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    763
    Location:
    Sydney
    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 ;)
     
    Observer, showtime94, Elives and 2 others like this.
  16. bobbyj

    bobbyj Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    193
    Location:
    Sydney
    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.
     
  17. Chabs

    Chabs Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    152
    Location:
    Sydney
    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.
     
  18. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    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."
     
    Tekoz and Sea Eagles88 like this.
  19. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    857
    Location:
    Sydney (West) and Canberra
    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.
     
  20. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,378
    Location:
    Somewhere in the land of Oz
    I am unable to comment until i recieve valued commentary from me peers on Facebook. Stay tuned:p