First article I wrote for Smart Property Investment - Rentvesting!

Discussion in 'Investor Stories & Showcase' started by Taku Ekanayake, 23rd Jan, 2017.

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  1. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    thanks for the feedback @Luke T - 20 yrs of rentvesting is impressive! good to hear!

    Please do @Dan Donoghue - much appreciated!
    very good point you raise there @DiligentPM. absolutely can resonate with the temptations of nice cafes, ammenties etc. definitely need to be disciplined on it! thanks for the feedback and sharing the additional article.
     
  2. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    no way i would be able to afford a place in marrickville at the time. my limit was $390K and median values were $850K at the time. hence, I needed to find a better alternative for my money to be put to profitable use. thanks for the feedback @God_of_money

    @Watson17 thanks for the comments. good to hear you're thinking about alternatives, and good to do your DD depending on your situation. @DiligentPM shared a good little read also which highlight pros and cons. admittedly I didnt highlight any negatives in the article because I am biased towards rentvesting. i probably could/should have...
    What is rentvesting and is it better than buying a home? | finder.com.au
     
  3. Watson17

    Watson17 Member

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    Thank heaps for the reply @Taku Ekanayake i have read the article. Was wondering if there are any other pro's or con's that this strategy has that weren't in the article for a beginner like myself.
     
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  4. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    @Watson17 tbh I can't find too many negatives about rentvesting. What is your current living situation?

    What is your current life situation?
     
  5. Watson17

    Watson17 Member

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    @Taku Ekanayake My partner and I currently rent ($350pw privately from a friend). We are both employed full time albeit she is in a post graduate position and wage. Have around $80k in the bank doing very little (that could be $100k as my father has previously told me he can help).
    The area we live in at the moment we both love, 15km to the city (her work), close to freeways (to my work), close enough to everything we want and need but no way could we afford to buy in this area apart from a 1 bedroom apartment, hence the thought of rentvesting. Neither of has have any debts or credit cards etc.
    Any other questions please let me know.
     
  6. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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  7. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    First of all, great work, @Taku Ekanayake
    I believe that article will definitely help others who are in similar situation like yourself.

    But in my own situation, I thought about rentvesting and won't work out well. Kids keep on drawing on walls, keep on taking out door stopper and lost count of how many times I have to patch the holes on the walls because of the door knob. Personally, I like doing home improvements/renos myself and love seeing the valuation going up to provide me equity to invest further. My missus loves gardening and we love growing plants. So I think each individual's lifestyle affect so much on whether one sees rentvesting is feasible or not.
     
  8. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    thank you @Property Twins! most definitely :)

    fair call - sounds like some high energy kids you have! but then again, what kids aren't! whatever works for you
     
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  9. Darren

    Darren Well-Known Member

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    I really enjoy reading about your quick progress, nothing better than setting a goal and pushing to get it done with a solid strategy must be a great feeling.
    Wondering if you have a strategy to move forward in terms of hitting the serviceability limit if or when it happens, do you have a debt reduction strategy?
     
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  10. BeachBabe

    BeachBabe Well-Known Member

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    Hi Taku

    Strangely I've just seen this thread on PC and your article was one of the first things i read this morning.
    I also read another article where you were featured by SPI i believe.

    Good going. Keep up the good work
     
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  11. Lollie

    Lollie Well-Known Member

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    Terry w's comment was also my thought. Having a CGT exempt property would be a good plan and easy to do by moving in and then out again and still being able to rent the property out for another 6 years.

    Do you feel your Business Management degree helped you in any way regarding your understanding of property investing?

    I think I have your API article somewhere too. I would like my 18 year old to read it. Well done with your achievements!
     
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  12. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    appreciate the feedback @Darren! don't have any detailed strategy right now other than to continue to keep increasing income. In regards to debt reduction, I'll be looking at reducing debt later down the track when I begin to consolidate my portfolio most probably. still early days but i should start planning for this now.
    @BeachBabe good to hear and thanks for the feedback - hopefully you don't get sick of me too quick haha

    good point @Lollie thanks for the feedback and kind words.

    business degree didn't help me one bit. i'll be honest i still regret going to uni those years, racking up HECS, etc. I should of got a sales job straight out of high school and work my up.
     
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