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Hello everyone, I am Chris from Melbourne

Discussion in 'Introductions' started by Chris_R, 24th Nov, 2015.

  1. Chris_R

    Chris_R Member

    Joined:
    20th Nov, 2015
    Posts:
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    Location:
    Melbourne
    Hello everyone

    My name is Chris and I’m from Noble Park in Melbourne. Started reading posts in SS a few months before the transition and here I am in PC, this time as a member

    I am delighted to see the wealth of information the experienced investors share here, a big thank you for all. PC (and SS) are invaluable learning tools

    Currently own two IPs and PPOR in Melbourne suburbs (Dandenong/Noble Park area) with both IPs generating positive cash flow. Look forward to amplify my investment journey and be a part of PC community

    Cheers

    Chris
     
    WattleIdo likes this.
  2. JacM

    JacM VIC Buyer's Agent Business Member

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    Superb! Sounds like you're well on your way! Welcome!
     
  3. Greyghost

    Greyghost Well-Known Member

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    Hi Chris, welcome!
    What are your goals for the coming years? Or what is your end strategy?
    GG
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Canberra and Sydney
    Welcome aboard Chris :)
     
  5. Xenia

    Xenia Adelaide Property Manager Business Member

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    Location:
    4/136 The Parade Norwood, South Australia
    Hi Chris
    Good to have you here
     
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Location:
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    Welcome to the best property resource around, @Chris_R.

    Can I ask how you've achieved positive cashflow on both IPs? Reasonable period of ownership, high deposit, dual-occ, special setup or something else?
     
  7. Chris_R

    Chris_R Member

    Joined:
    20th Nov, 2015
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    Location:
    Melbourne
    Hi GG, I am
    Hi GG
    I am in the accumulation stage and would like to add more properties at this stage. I have not yet ventured in to interstate etc, in search of higher yields, however, when buying I try to find properties which are (at least) closer to break even or which I can convert so by cosmetic renovation.
     
  8. Chris_R

    Chris_R Member

    Joined:
    20th Nov, 2015
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    Location:
    Melbourne
    Hi Steven

    I have been owning them now for several years and they are below 80% mark. Also, both these properties are very close to the train station and well maintained (though they are not new) which achieves a bit higher rent.
     
  9. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    18th Jun, 2015
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    Location:
    Sydney & Gold Coast
    Nice one @Chris_R.

    Sounds like you have a lot of options for your next purchases–plenty of people on here have been achieving cashflow neutral or positive properties with (or without) minor renos, particularly around Brisbane, Adelaide and Hobart.
     
  10. Azazel

    Azazel Well-Known Member

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    Gday Chris, welcome aboard.
    Sounds like you've made a good start.
    Where to next?
     
  11. Chris_R

    Chris_R Member

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    20th Nov, 2015
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    Location:
    Melbourne
    Thank you Azazel. Not yet searching at this moment, probably next year if/when the market cools down a little bit.
     
  12. Coota9

    Coota9 Well-Known Member Premium Member

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    Well done Chris on having 2 IPs already as a lot stop,and only one
     
  13. Azazel

    Azazel Well-Known Member

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    It's not all Melbourne, there's always a cool market somewhere.
     
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  14. Chris_R

    Chris_R Member

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    Location:
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    Agreed Azazel, Haven't looked beyond Melbourne before. But will do going forward.
     
  15. Chris_R

    Chris_R Member

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    Thanks Coota
     
  16. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Brisbane
    Welcome ..you are in good company