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Hi all from Brisbane

Discussion in 'Introductions' started by KUS50, 29th Jun, 2015.

  1. KUS50

    KUS50 Member

    Joined:
    29th Jun, 2015
    Posts:
    15
    Location:
    Brisbane
    Hi

    I just wanted to introduce myself - I'm here to network with some like-minded people and get some fresh ideas.

    My wife and I began investing in 2006 at the age of 26, we had a break for a few years as our focus turned to having kids. We got back into it in 2013 and have been accumulating property ever since.

    We have focused on buying ugly duckling properties, the best have been deceased estates, with solid fundamentals and increasing the value through cosmetic renovations.

    Below is an overview of our portfolio as it sits today

    2006 - Macgregor - 3bd 2bth $305,000 - val 2015 @ $550,000 PPOR
    2007 - Durack - 4bd 2bth 1100m2 $323,000 - val 2015 @ $495,000/$445/wk
    2013 - East Ipswich - 990m2 4bd 2bth $320,000 - val 2015 @ $485,000/$410/wk
    2013 - Redbank Plains - Duplex pair 2 x 2bd 1bth $323,000 - val 2015 @ $380,000/$500/wk
    2014 - Coopers Plains - Duplex pair 2 x 2bd 1bth $352,000 - val 2015 @ $515,000/605/wk
    2015 - Morningside - Unit block 4 x 2bd 1bth $1,150,000 - val 2015 @ $1,340,000/1310/wk

    Moving forward I aim to buy more multi unit dwellings - unit blocks and duplex pairs - and hopefully develop some of my existing properties.

    I still consider myself a new investor (I really only started seriously working on my portfolio in 2013) I'm hoping to learn a lot here and also help others from my own mistakes and experiences.

    Cheers Jay

    *Where you see a large capital gain in a short time frame - this is due to a quick cosmetic renovation
     
    Tekoz, Leo2413, Gockie and 3 others like this.
  2. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,948
    Location:
    Brisbane
    Hi there. That is an impressive portfolio for someone calling himself a "new investor" :p.

    I'm also from Brisbane but at age 55, not really accumulating. We have a DA in council to build four townhouses which is a new direction for us. We've always bought ugly ducklings in good areas near where we live (Coorparoo) and gradually upgraded them. I chose to be a stay at home mum so we had only one income and three kids, or we would have more. But it was a choice we gladly made.

    With one income borrowing was always stopped us buying more often (but we have enough and are happy without pushing ourselves). How do you buy so much so quickly... well paying job, two incomes?

    However you've done it, well done! :)
     
    Perp likes this.
  3. Perp

    Perp Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    455
    Location:
    Brisbane
    Hi Jay, that's an incredible achievement, well done!

    I used to organise get-togethers in Brissie a few years ago. It's been quiet for a few years, but perhaps it's time I re-started. Hope to meet you one day. :)
     
  4. KUS50

    KUS50 Member

    Joined:
    29th Jun, 2015
    Posts:
    15
    Location:
    Brisbane
    Wow - 4 town house development congrats, my goal is to eventually do some developments - much respect to you wylie

    Yes we have had two (good?) incomes for the last 2 years, my wife took 5yrs off with our daughter when she was born. The momentum has been due to property choice, and ensureing the rental income covers outgoings.
     
    Last edited: 29th Jun, 2015
  5. KUS50

    KUS50 Member

    Joined:
    29th Jun, 2015
    Posts:
    15
    Location:
    Brisbane
    I'll stay tuned for the get together - it would be a great way to socialise with others who invest - like to meet you too :D
     
  6. WTSUI

    WTSUI Member

    Joined:
    4th Jul, 2015
    Posts:
    23
    Location:
    Brisbane
    Holy moly, that is impressive. Hats off to you Sir. Do you spend your weekends trawling through properties?
     
  7. KUS50

    KUS50 Member

    Joined:
    29th Jun, 2015
    Posts:
    15
    Location:
    Brisbane
    LOL - I'm really only trawling when I'm positioned to buy, then I immerse myself in the market until I find a deal that speaks to me...............
     
    Gockie likes this.