Hi PCers, It's a long way from Somersoft to PropertyChat. This forum has been the greatest resource that I use throughout my property investing journey. There are abundance of information anyone can obtain from the forum, lots of inspiration from other forum users, and lessons to learn from others. So I would like to share my property investing journey here in detail, hoping that forum users can get something out of this thread; be it inspiration, area knowledge, investment insights, etc. The Purchases Below is the list of our 8 property purchases from 2012 to 2019. Each property has its own good point and bad point. But I’d like to focus on the good point, and learn from the bad point as a lesson for the next purchase. So no losses here IMHO! PPOR: Wantirna South, VIC House: Built in 80s. 3 bedrooms 2 bathrooms 2 car spaces Land size: 500sqm Purchase price: $457,000 (2012) Current value: $720,000 The Good: The suburb next to Glen Waverley. Growth potential. Nice area with easy access to Eastlink. Close to a shopping centre and good schools. The Bad: Subdivided land. Not much land content. Reasonably renovated. The Bottom Line: The first home that fits within our budget. Got awesome growth that allowed us to take out equity and expand our portfolio. IP1: Ballarat East, VIC House: Victorian-style Period Home. 3 bedrooms 1 bathroom 1 car space Land size: 420 sqm Purchase price: $235,000 (2015) Current value: $375,000 Weekly rent: $290 The Good: Very close to Ballarat city centre. Located in better part of Ballarat East. Sought-after period home. Potential to add value through cosmetic renovations. The Bad: Small land size. Located on a semi-busy street. No heating. The Bottom Line: First step in our investment journey. Positive cash flow from day 1. IP2: Ballarat North, VIC House: Brick-Veneer that was built in 80s. 2 bedrooms 1 bathroom 4 car spaces Land size: 580 sqm Purchase price: $250,000 (2015) Current value: $395,000 Weekly rent: $285 The Good: Potential to subdivide down the track. Solid ugly brick house with potential add value through renovation. The Bad: 2-Bedroom properties have limited audience in Ballarat rental market. The Bottom Line: Scope for subdivision. Lots of potential to add values through cosmetic renovation. IP3: Woodridge, QLD House: Queenslander highset built in 1975. 4 bedrooms 2 bathrooms 2 car spaces. Land size: 770 sqm Purchase price: $335,000 (2016) Current value: $350,000 Weekly rent: $395 The Good: Next to Underwood and Springwood, which are half-million median-priced suburbs. Located in Townhouse precinct/zone. The Bad: Didn’t do well in buying below-market value, as the vendor is quite firm with the asking price. The Bottom Line: First inter-state investment. Happy to hold for long-term until the time is right for knocking down and then will develop townhouses. IP4: Crestmead, QLD House: 30-year old Queenslander highset. 3 bedrooms 2 bathrooms 2 car spaces Land size: 820 sqm Purchase price: $327,000 (2016) Current value: $390,000 Weekly rent: $440 The Good: Huge land. Potential to add granny flat at the back. Nice positive cash flow. The Bad: A bit further out from Brisbane CBD. Over-estimated the rent and put up at $480 initially, so had been vacant for a few months. The Bottom Line: The number stacked up. It’s great to have land of this size 800sqm+. Potential to earn fantastic cash flow. IP5: Crestmead, QLD House: Another 30-year old Queenslander highset. 3 bedrooms 2 bathrooms Land size: 600 sqm Purchase price: $315,000 (2016) Current value: $360,000 Weekly rent: $435 The Good: Awesome cash flow. Recently renovated upstairs. The Bad: Ordinary buy-and-hold property with no room to add values. No more car spaces, as garage area was turned into a living area. The Bottom Line: A great example of buy, renovate and hold strategy. IP6: Redan, VIC House: 50-year old triple-fronted brick-veneer house. 3 bedrooms 2 bathrooms 2 car spaces Land size: 1,100 sqm Purchase price: $320,000 (2017) Current value: $419,000 Weekly rent: $310 The Good: Huge land. Potential to build 2-3 units at the back. The Bad: Cash flow is not that good. $310 rent on 80% loan of $320k can give you an idea how it’s like in terms of cash flow position. The Bottom Line: Land is always the king! Redan is the suburb next to Ballarat Central and land scarcity will play a big role in terms of capital growth with this investment. IP7: Golden Square, VIC House: 100-year old Victorian-style Period Home. 3 bedrooms 1 bathrooms 1 car space Land size: 730 sqm Purchase price: $295,000 (2019) Current value: $295,000 Weekly rent: $295 The Good: Decent land size within 2-km of Bendigo city centre. Period homes are sought-after and people pay premiums to live in that type of home in Victoria, especially renovated ones. The Bad: As with any 100-year old properties, maintenance costs will be high. The Bottom Line: Happy with the purchase, as the type of the house and land size are the two main criteria that I set after the lessons I learnt from another similar regional city like Ballarat. The Strategy Our strategy has always been the one that can enable us to hold our portfolio as long as possible, even in economic situation like COVID19. As the properties are paying for themselves, we don’t actually need to worry too much about selling down to reduce debt or reduce mental burden that usually comes with highly negative-geared property portfolio. The Goal Initially, our investment goal is mainly to buy one or two properties and rent them out, without thinking anything much. As we accumulate the properties and expand our portfolio, the main goal is to achieve financial freedom through property investing or at least to have options with work (not to work because we have to, but to work because we want to). And there is an ultimate life-long goal of setting up a philanthropy foundation. Gratitude is everything! I would like to take this opportunity to show my gratitude to fellow forum users: First of all, @Michael_X for opening my eyes as my mentor, mortgage broker and a good friend @Rolf Latham for supporting me with mindset building and goal-setting @Simon Hampel for founding this form and taking over from Somersoft seamlessly @Toon, @TMNT, @C-mac for our discussions on everything related to Ballarat @Simon L, @RetireRich101 for their contributions on everything related to Logan @Xiao Hui for our discussions on everything related to Bendigo and beyond @Sackie for being an investor that I quietly look up to. Hope to catch up with you in person someday @The Y-man for holding PC meetups and some spiritual guidance with money and investing And other forum users that I might have missed out, but I do appreciate their positive and constructive contribution to the forum. If you have read to this point of the thread (or skipped ) and am wondering what the thread title has to do with the thread content. Our investment story was featured in May 2020 Issue of Your Investment Property magazine. That was the title that they chose for our story, so it must be a media-friendly one, right! You can get a hard copy from local newsagents, Coles or Woolies. Or download the excerpt in the attachment. Happy investing! Opportunity is everywhere!