G'day

Hi PC,

Been a lurker for a few months, finally decided to get an account to post on Have learnt a lot from everybody here – biggest step has probably been getting my mentality right. Have talked to a few guys here like @Michael_X , @Taku Ekanayake, and @David Shih to name a few, and it’s been a great ride so far trying to build out my fundamental knowledge and foundations (pun not intended) of property investing.

I’m 26, at the beginning of my property journey, with 1 IP in Sydney (Unit in the North Shore). Goal is to be financially free by 40, with a stretch target 35. What does this mean? To be honest, I’m not too sure myself. I’ve set 100k passive income as an initial target for now, using a variety of asset classes to help me achieve this.

Really looking forward to the accumulation phase and whilst lending conditions get tougher, this will only challenge my thinking and creativity to source deals. Guys, please challenge my thinking on this – would you keep your head down and just go for it if you were me?

I hope to learn a lot, please be patient with me guys and I hope to contribute back in my own way too.

Cheers,
Dalts

 

Welcome to PChat @Dalts and congrats on landing at the right forum to start your property journey

Lending condition is getting tighter but as you pointed out the first thing should be believe in yourself. Like what the book Rich Dad, Poor Dad said, instead of thinking "I cannot afford it", think "how can I afford it?". And @Taku Ekanayake is really the best example of this - to get the deposit together in the early days he would do Uber on weekends so he can afford the next IP. I hope this give you the inspiration and the "whatever it takes" attitude you're looking for.

Dare to dream!

 

Hey @Dalts sorry for the late reply. I've been absent on here over past couple days. With your IP in north shore when did you buy this?

You may have some equity there to help fund your future purchases. I would absolutely keep your head down and go for it. I'm keen to see how you progress in your journey. Surround yourself with like-minded people that will support and encourage you on your journey to financial freedom.

The technical aspects of property is good to know and important, but what I have found that has personally helped me more than anything else in my investing journey and also starting my own business is more so on the mindset & personal development side of things. This might sounds cheesy but this has helped instill in me discipline, confidence, and focus as I strive towards my goals also.

If you have any questions hit me up!