Hi All, I've been searching the site for info and insights for a few months now and have finally got around to signing up. I'm based in Perth and relatively new to property investment but have already purchased IPs in VIC, SA, QLD and WA in the last 12 months. My wife and I have undertaken some courses and a lot of reading and pretty much became obsessed with property investment so decided to take the plunge. The ultimate objective is to retire as early as possible and be able to fund our lifestyle from our investment portfolio. I'm really keen to learn as much as possible and hopefully contribute where I can from my short but interesting investment journey to date. Jamie
Thanks Jess, We did a course with Destiny. I've read a lot on this forum about the pro's and con's of all the so called "experts" and the guidance they offer. For me the information we learned and the confidence it gave us from a very low knowledge base was invaluable.
You could do a lot worse than Destiny, that's for sure! Did they do your finance for you also? Sadly, they're a bit renowned for very poorly structured loans - they're a bit of an x-coll fan.
@Skinman welcome to PC. 4 IPs puts you in the top few % nationwide. May be a good idea to get your finance structures looked at as @Jess Peletier mentioned Destiny are xcol fans. This has the potential to trip you up in the future for 10+ reasons.
Yes we did our finance with them, we already had 2 IPs before we joined them and refinanced everything plus our PPOR. We did end up using a xcol structure and I did read a lot on the pro's and con's of this prior to making the decision. Again to be fair they did answer all our questions and explain the pro's and con's of this structure. Having said that, the reason I joined this forum is to listen and learn from others experience so I am always open to new ideas. Jamie
Hi Anthony, I'm happy to share as I'm sure I will be asking others to share info with me. We currently have IPs in Brisbane, Ipswich, Wodonga, Adelaide, Perth and Melbourne. Jamie
There’s heaps of threads in here about x-Coll, if you have time do a search. I’d strongly suggest getting it sorted before doing anything else as you may not be able to after another purchase. Or even a small tweak to lending criteria could make it difficult is servicing is getting tight.
Welcome to the group. That's a pretty impressive haul you've bought. What type of properties did you buy?
Thanks for the welcome, It's a mixed bag really 3 are established houses on blocks from 400m2 up to 600m2. 1 was a new build house and land package, we built this one back in 2014 and its not done much in terms of CG but helps balance the cash flow as the rental yield is really good. 1 is a 3 year old townhouse and the latest is a 3X2 villa in a triplex. Currently looking for the next and hoping to get some ideas / advice from this forum.
Thanks everyone for the welcome. Now I just need to get on and find the next IP. Looking forward to learning and sharing with you all along the way.
