Another day. Another young property investor

Well I based it off 4.12% mortgage rates, and with initial buy in costs stamp duty etc etc.
He's paying to much interest then. Should be more.

 

he has lowish lvr for a first ime investor which is great to see, he is not one of those, high leverage type buy and hope strategy

a lot of townhouses and apartments in not so great areas (like me)

I would imagine at 100% lvr, he would be cashflow neutral at best

 

Just shows that even though it is tough/tougher - it is still doable.

 

Well done to the young man. he is very determined and is very planned person with clear goals for himself.

 

A good read Jen

I'm not the young guys broker (just contributed to the article) - but kudos to him for doing well. I know what I was doing at 24....and it didn't involve collecting houses.

Cheers

Jamie

 

It is good. He has focused on cash flow and buying at the lowest end of the market.

Properties worth a mil with almost 30% equity. It is awesome. I hope my 3rd one brings a mil figure but equity will be a close call.
Good post @Mumbai . Another mindless post from me though.

Regards

 

Good on him. Nice work.

 

Wow what an awesome story good on him. Seems very humble and his stratergy looks pretty solid

 

@Jennifer Duke

Is Edward associated with Binvested?

Zoominfo thinks so:

 

He recently has a job there in customer service (not as a BA or anything advisory) but they weren't involved in his portfolio at all, he tells me.

He also approached me directly based on details provided to him by a member of this forum and it was unrelated to Binvested.

 

I retract what I said earlier about good to see it was not a loosely veiled advertorial for an investment mentoring/spruiking company.

@Jennifer Duke if you are going to write articles like this at least have the decency to disclose their affiliation with these sort of companies, otherwise it just erodes peoples confidence in you as a journalist and we just see you as a binvested ad writer.

 

I wouldn't mind doing that but in my eyes I didn't want to give them credit for the portfolio he had built... Thoughts?

 

I agree with @DaveM here. Though you believe and have been told binvested is not involved, it would not hurt disclosing on PC his affiliation, but does hurt when we 'come to know'

 

Point taken - I genuinely thought I was making the right call. Will make an amendment.

 

I feel it is good not to disclose any agencies where they were bot involved.

Why would you give unnecessary credit to an organisation that was not involved.

I think Jennifer made the right call.

Regards

 

If you interview me, just say I'm a regular member of PC. but let me buy the shares from simon first.

 

Couldn't agree more.I know him and from what I gather he has done all of his buying/negotiating from his own research. Great article Jennifer

 

hes up over 17% in a few weeks on his June 2016 purchase based on bank val...impressive buy?!

 

If he built the bulk of his portfolio prior to any involvement with binvested then who cares if he now is involved with them. If they are not mentioned then I don't see a problem.

 

Good detective work, you don't miss anything.