Hi from Brisvegas

I joined a while ago, and had been reading for years before that (aka a lurker).

My name is Kim.

I have loved real estate since I was a teenager. Mainly because I love houses - different styles, their potential, the stories behind them, what factors influence their popularity and price, what makes one suburb more popular/expensive than another or one area in a suburb more popular /expensive than another area in the same suburb. Following real estate and reading about homes and renovation is a hobby.

I have helped several family and friends in house hunting over the last 20 years.

Also assisted a client of my husband's in a case of 'if only I had had the money, I would have bought it myself'. It was about 15 years ago. Husband's client was not based in Brisbane, but was wanting to buy a home in the inner north west of Brisbane. They were considering a particular listing. Husband asked my opinion of the house they were considering, and I gave him feedback along the lines of: 'No way - good suburb, but that house has major drawbacks with the position. But if I had that budget, there is this fabulous old Queenslander I just saw in Paddington on a double block in a fantastic position. I would totally buy that' Husband passed on my feedback, and a little while later the client invited me to come and check out their renovation of the old Paddington Qlder - bought for $500k! They were pretty chuffed with the purchase at the time, and I guess they are probably even more chuffed now - it's probably worth triple what they paid for it.

I can often spot potential, but not always so good at following through myself to fully see it through. I am a serial purchaser and seller of homes with potential. Have managed to do some small improvements such as polishing floors, painting, a small bathroom etc. Despite not finishing all the renovations I dreamed of each time, first two homes bought and sold for good profits. The 2nd home I managed to sell myself, and for higher than the range quoted by a variety of agents.

Currently onto our third home in need of renovation. Humble and very basic 1970s house, but big yard in a family orientated suburb in Brisbane: handy to good schools, good transport and local shops and cafes.

 

Welcome aboard Kim

Cheers

Jamie

 

Welcome Kim,

it’s really a great part of the world we are in. The ability to spot opportunity is a fantastic one.

have you thought of some form of a career in a property related industry?

 

I agree that we live in a great part of the world. I feel very fortunate.

A few agents have asked me whether I would consider a career in property.

However, I started working for the public service at a time when we had a super scheme that is sometimes referred to as the 'golden ball and chain'. It makes little financial sense for my family if I were to quit the job. I need to maximise the benefits of the scheme by staying the service as long as possible, and contributing a fair whack of my salary to it - no salary sacrifice for us.

So real estate will have to remain a bit of a hobby and spectator sport for now.

It is a fortunate 'problem' to have.

My practical application of my interest in real estate has been mainly focused on making our homes a good investment, which has worked out well for us so far, in part because I bought my first home in 2000, just before the start of the big Brissie boom.

If I am every in a position where it is time to depart the public service, and I wanted to keep working then I probably would look to something in real estate.

 

Ahhhh public service hey, I grew up in Canberra and like most spent time in the public service and actually within comsuper. If you were on CSS or even PSS to a lesser degree you would be made to miss out on those benefits. It was an outrageous scheme.

Your attention to detail, knowledge and ability to provide value would put you in a strong position of you ever wanted to get into R/E. I have to ask, would you consider doing anything on the side, casually at all?

From your few posts I have seen, property has been a success for you up until this point so congratulations on that front, do you plan on doing a few more transactions over the coming years?

 

Yes, I am PSS. It does require allocating a fair amount of income to contribute to maximise the benefits, but worth the financial sacrifices.

Thank you for the compliment. I would never say never to work on the side if it didn't conflict with my work. However, at the moment it might be biting off more than I can comfortably chew. Besides full-time work, my time is currently heavily invested in my children, working on plans for current home, some informal study to improve my digital skills, supporting husband to expand his business and trying to increase health and fitness.

Real estate wise, I have a bit of a roving eye and am always on the look out. My mum is getting older and dad died a couple of years ago. When she visited recently, I realised how much she finds stairs and any kind of slope harder to navigate. Sometime in the next 5-10 years, we may need to consider moving to a home with a bit more of a level access from the street to at least one level of the house, should she need to move in with us.

Funnily enough, I just found out a house which I have on my 'one that got away' list may be coming on the market in one of my favourite streets. It has better accessibility:completely level entry from street.. Alas, I don't think the timing will work for us at the moment to make a shift. We are not far enough advanced on our plans for this home to make a shift. And it would involve taking out a mortgage which will get in way of the goal to put more money into superannuation. Heart says 'do it', but head says 'no'.

 

Hey Kim,

Welcome to PC, been reading a few of your posts and loving them already. Looks like you’re really keen to share you knowledge with everyone so sure you will be a hit on here.

Cheers