Hi! Byron here.. I'm here to learn and want to build a property portfolio.

Hey! Byron here from the Sunshine Coast..
I've been passionate about real estate investing for about 14 years now and have owned three properties including two owner occupiers.
I love renovating, being creative and finding opportunities to create instant equity.
I've been engaging in some of the free education on offer from Facebook marketers and am torn between 'going it alone', based on the research I've been doing, the experience I have and the support of this group and other professionals..
A little Google search and reading a review about one of the Buyer's Agents I've been looking at landed me in this forum.. Suggesting some of the support and guidance on offer here is just as good or better than many of the overpriced education and services offered on Facebook.
I'm here to learn and listen to the advice and experience of those who have walked the path before me

 

Welcome!
So much valuable info here. Invest some time reading posts.

 

Awesome! Thanks @Travelbug Where are you located? What’s your strategy / experience?

 

What sort properties are you looking at ?

 

Regional towns that are highly likely to increase in value around the Sunshine Coast / Norther Brisbane area. Potential to surface level renovate, subdivide or granny flat addition. Have earmarked Gympie and Moreton Bay Area (Caboolture, Deception Bay etc..)
I live in Mount Coolum and like the idea of finding, renovating & managing my first couple of properties myself, with assistance from professionals as needed of course..

 

I am not experienced in this area or type of properties so you would not gain anything over a discussion over a coffee in Brisbane with me.

 

Haha! All good! Thanks for your honesty and welcome :-D

 

I've always found working backwards as a good starting point to develop a strategy.

What are your goals from investing?
Time frame?
Current financial position?
Risk tolerance?


I would let those factors determine my strategic approach to what kinds of deals I then buy.

 

What are your goals from investing?
Passive Income, financial independence, more time and opportunity for myself and my family.

Time frame?
5-6 years to be 100% independent and continue to grow into retirement age.

Current financial position?
Self employed with $900k in equity, a solid passive income from our business and a little be of savings. Have been pre-approved for a $750k interest only loan.

Risk tolerance?
Working on this tonight, but feeling a balance of growth and aggressive. (Doing Terry Ryder’s Quick Start Guide)

 

How much more passive income do you require for your goal to be accomplished?

 

$200k per annum. Our current income covers all our comfortable living expenses.

 

So you want another 200k PA of passive income. Your goal is to achieve that in 5 years. You would need to create approx another 6mil (probably more) in net worth in the 5 years (give or take) to then get a yield off it to amount to your 200k net more income. All Approx figures. Resi yields. Not taking commercial yields into account.

Is that what you're saying?

 

Using Terry Ryder's guide of say 7.5% net yield , a borrowing interest rate of 2.5% and a lvr of 30%, $900k equity we get.
Property $3,000,0000
Deposit $900,000
Loan $2,100,000
Interest $52,500
Rental $225,000
Net profit before tax $162,500

Buy something under rented or add a bit of value ...you could be at your $200k goal in five or six months not five or six years

Do you really mean $2,000,000 is your real goal ? as $200k appears like "a walk in the park"

 

Hello - you are from my neck of the woods. It’s a shame you (and me for that matter!) didn't buy up big in Mt Coolum 5 years ago, there were so many bargains to be had.

 

Net profit of 162k pre tax. So short of his 200k goal. And that's pre tax. So what would he need then for 200k after tax?

 

Hi, we mainly bought in Sydney's west. Low end properties and did a full, 5 week reno before renting them. CF+ from day one and manufactured equity.

Sold half and retired in 2015.
Now living on the Gold Coast.

There is a meetup 4th June at Benowa if you can get down. Lots of experienced investors going. Look in the meetup section.

 

Haha! I like your thinking! But the bank is only willing to lend me $750k at this stage, So it will be 1x Solid or 2x cheapies to begin with.. Of course I could go to a broker and get more.. And.. I could also get assistance in the field, hence why I'm here.. But anything is possible right!? And by saying 'a walk in the park'.. That's music to my ears! :-D

 

Tell me about it! There were still some when we arrived about 18 months ago! If I was in a position to invest I could have doubled my money in 12 months! Well.. At least I got to do that with our PPR.. Good part of the world we live in BTW ;-)

 

Awesome! Exactly what I'm looking for.. Meet ups with like minds. Thank you for sharing your story too! Very encouraging :-D