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Goals for 2016

Discussion in 'General Property Chat' started by Brian84, 21st Nov, 2015.

  1. Brian84

    Brian84 Well-Known Member

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    After reading the thread on what have you accomplished this year I thought now would be a good time to start a thread on setting goals for 2016.

    I will start it off on what I want to achieve and anyone is welcome to add theirs.

    - purchase first investment property by March
    - purchase second investment property by September/October
    - start advertising for my 2nd business to get more work. At the moment it is just word of mouth.
    - become a dad for the second time (already underway) wife is due in March.
    - buy a new 4wd ute to take my son 4wding and motorbike riding in the bush.
    - kitchen Reno in my ppor by end of the year. Pretty big Reno.

    That's all I can think of for now.
     
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  2. Blacky

    Blacky Well-Known Member

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    Love these two!

    Awsome - congratulations
     
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  3. Brian84

    Brian84 Well-Known Member

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    Thanks blacky
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Great idea for a thread! Hopefully we can look back here this time next year and see how we've all gone.

    In no particular order, for me:
    - Grow my business and employ more staff
    - Do 2-3 Buy->Reno->Reval type projects
    - Strengthen my relationship with my SO
    - Excel at all the education and continuing professional development I take on throughout the year
    - Try to eat better and stay fit (I feel like this one makes an appearance most years)
     
  5. Azazel

    Azazel Well-Known Member

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    It's a good idea to get your goals down on paper (or on the screen), seems to be likely to happen once you put it out there.

    Sounds like it's all happening at the moment, congratulations.
     
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  6. Bran

    Bran Well-Known Member

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    lol x2
    ill put things on paper soon
     
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  7. bob shovel

    bob shovel Well-Known Member

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    I'm hoping to do 2 things next year so I'll add one on each
     
  8. Brian84

    Brian84 Well-Known Member

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    Thankyou. Yep couldnt be happier
     
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  9. bob shovel

    bob shovel Well-Known Member

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    Congrats!
    What do you ride, where do you go?

    My goals... I'll need to sit down with the boss first to go over in more detail this week.
    On the list so far, head north to explore the Kimberley and NT
    Buy 2 IP's minimum.
    Work out what I want to do when I grow up! :D
     
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  10. Brian84

    Brian84 Well-Known Member

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    I haven't rode for a few years but I had a Honda xr450. I am going to buy my son a peewee 50 and buy myself a yzf450 or a kx450. At the moment I just ride my Harley.

    We used to go camping at oallen ford near Goulburn. Few tracks through the bush and a nice creek we can swim in if it gets to hot.
     
  11. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    If he's born in March won't he be a little young for a peewee 50? Give him a few months in the side carriage at least!

    Great spot and great plan btw.
     
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  12. Brian84

    Brian84 Well-Known Member

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    I have a 3yo son and have a daughter due to be born in March.
     
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  13. Brian84

    Brian84 Well-Known Member

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    I'm not going to say 2016 is my year because every time I say this is my year something goes wrong. Whatever will be will be
     
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  14. Blacky

    Blacky Well-Known Member

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    Ok - here is my start

    Financial
    1) finish BlackMinster development and sell.
    2) Purchase 3x IP
    3) Purchase development site (this will be the stretch goal)
    4) purchase shares
    5) reduce debt (target 30%).
    6) Build on vacant block.
    7) Negotiate a pay rise

    Life
    1) Move countries
    2) Travel - Japan, Australia, ++++ (TBC).
    3) Sort out my parents retirement.
    4) Finalise long term re-location plan and goals.
    5) Set - and actually achieve - my fitness goals
    6) read 12books - including more on personnel development.

    Thats all... maybe.

    Blacky
     
  15. adrian_christian

    adrian_christian Well-Known Member

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    Massive list. Kudos! Where were you thinking of moving to?
     
  16. Blacky

    Blacky Well-Known Member

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    The plan is to move to Baku (Azerbaijan) for a couple of years. See how things pan out.

    Still sorting out the finer details of it, but if things go according to plan (when do they?) should move around the 3rd qtr 2016.

    Blacky
     
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  17. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I am currently completely confused for strategy for 2016. Here is what I've written, and there is no way I could pursue all the property ideas on it so that really needs refining. But I also think if maybe if I decide to move to Brisbane, life would change anyway...

    Work:
    • Make 2 years at CBA (or in banking in general). I really enjoy my job. But.... still happy to think about any other interesting job ideas that pop up. I have to think about it.
    • Plus continue with Airbnb
    • Continue with volleyball
    Personal:
    • Have a partner who is into investing
    • Maybe move to Brisbane
    Property strategies:
    Let's assume I can finance 1 more resi.

    At the rate we are going I should have no interest to pay on the PPOR debt at the end of 2016.

    Capital growth ideas:
    • Redfern/Darlington/Chippendale. Pyrmont/Ultimo too. Close to city but not high rise. Low strata <$1000.
    • Newcastle development
    • Purchase of 1 more house in Brisbane (bay views) and ideally with good land.
    • Could maybe diversify into Melbourne but I would need to know about the areas
    Cashflow
    • More airbnb (Sydney City, or somewhere Brisbane if i'm there.)
    • NRAS
    • USA properties (I would need to understand the USA Market)
    I'm sure 1 more purchase in NSW will tip me into the need to pay land tax. I assume trusts dont get their own thresholds in NSW.

    Manufactured growth
    Look for:
    • Under market val purchases (solid purchase...no other buyer situation)
    • Reno potential
    • Addition of extra bedrooms/better usage of space opportunities
    • Development.
    Or.... once I cant do any more standard resi (assume I might hit a servicing wall after 1 more purchase) I could look into Commercial and/or an SMSF.

    I suppose... if I was to sell the PPOR then I have great equity. Not sure how much it will help my serviceability though.

    Call this a Brain dump/WIP....

    Edit: Decided the stuff I have underlined is what I should focus on.... I am not a timing lord (unlike @See Change) and I am of the opinion that 2016 will not be a year of massive capital growth anywhere in Australia unfortunately... but I can confidently and comfortably do the stuff I underlined.... no problems.... so that's what I'll focus on.
    Rinse and repeat. :)
     
    Last edited: 22nd Nov, 2015
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  18. JDP1

    JDP1 Well-Known Member

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    2016 is all about family for me...
    ..and ofcourse, to hype brisbane some more...
     
  19. Beelzebub

    Beelzebub Well-Known Member

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    Goals 2016

    Property / financial
    Finish current PPOR (still a few little jobs left to finish off)
    Buy the block I want for next PPOR
    Figure out another source of additional and consistent cash flow (any ideas people)

    Work
    I need to move closer to home (easier said then done)

    Personal

    Get my 6pack back
    Learn a new skill (was thinking of learning to play the ukulele)
     
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  20. bob shovel

    bob shovel Well-Known Member

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    Go the yami! I had a wr450 used to go out the back of Oberon to a mates farm, watagans, Nowra state forest area. great fun!