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Hi, I'm Roy....

Discussion in 'Introductions' started by jafeica, 20th Jun, 2015.

  1. jafeica

    jafeica Well-Known Member

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    Location:
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    Hi I'm Roy. Formerly roypropertyinv.

    I'd like to be more active on this forum, so to start, here's a bit about me.
    • I've been in Australia since March 2013, and have bought two IP's in that time.
    • I'm originally from the UK, but am here as a Permanent Resident.
    My IP's are:

    Ingleburn, NSW - 3 bed townhouse - bought Jan 2014
    Redcliffe, QLD - 3 bed house - bought Feb 2015

    More by luck than judgment, my first IP purchase in Ingleburn has (so far) turned out to be a winner. The market has moved a lot in the 18 months I've had it and I recently got a valuation done. Turns out there is some good equity available, so I'm now looking to use this to purchase 1-2 more before the end of 2015.

    I bought my second IP earlier this year with a long term outlook, with a view to develop in the future. At the moment this potential isn't guaranteed, as to be able to develop I'll need to buy the place next door. I've done my research and if/when the place next door is available, the land size and zoning is such that it's suitable for an apartment block of 20-22 units (there was one done on the same street, which I found and downloaded the planning application via PD Online planning website). If I do eventually manage to buy the next door house I'm not quite sure how I'll proceed after that as realistically a development of that size is beyond my financial capability at present.

    But to paraphrase Grant Cardone "Whatever goal you currently have for yourself, you should multiply that by 10. Go 10 times higher than what you think you are capable of achieving."

    For the next IP's I'm looking to buy properties that have more immediate (within 3 years) subdivision potential (buy a 600-900m2 block and build 2-3 new houses). I'm confident this kind of development is within my capability at the moment with both my finances and my skills (I work as a Quantity Surveyor and Project Manager on Civil Engineering projects).

    Looking further down the track (5-10 years) I also see a potential business opportunity offering subdivision feasibility and project management services to individual investors, so my immediate goals of doing subdivisions to create equity are tied into my long term goal of being involved in development as a way of making a living.

    Aside from property investing, I love travelling. My two biggest trips so far are backpacking for a year in Central and South America, and a 5,000km cycle tour through SE Asia.

    My dream big trips are
    • Camper van around Australia
    • Cycle from Australia back to the UK
    • Cycle the Americas from Alaska to Ushuaia
    • Walk the Te Araroa trail in New Zealand
    I'm always up for a chat, so send me a message any time.

    Thanks for reading

    Roy
     
    Gockie, No Probs and Singo like this.
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Seriously though how much did you buy the property in ingleburn and how much was it revalued at?
     

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  3. jafeica

    jafeica Well-Known Member

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    Location:
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    Bought at $390k, revalued last week at $530k
     
  4. Rixter

    Rixter Well-Known Member

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    Portfolio Perth Brisbane Sydney Melbourne
    Hi Roy, keep those dreams alive mate... they sound great.
     
  5. Azazel

    Azazel Well-Known Member

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    Crikey! Well done!
     
  6. jafeica

    jafeica Well-Known Member

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    Azazel likes this.
  7. Azazel

    Azazel Well-Known Member

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  8. jafeica

    jafeica Well-Known Member

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    Yeah it sounds amazing, definitely on the to-do list!
     
  9. Azazel

    Azazel Well-Known Member

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    I had never heard of it, but had 2 separate friends who did the round Australia trip say it was one of the highlights.
     
  10. Travelbug

    Travelbug Well-Known Member

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    WOW! I love your link. Hubby wants to do the Big Lap in our Motorhome. I'm more into Europe so we;ll have to do a few months of each when I retire.
    Great work with the Ingleburn townhouse. I have one there. The growth in the last 2 years has been pretty amazing. Mine's doubled in the 4 years I've owned it. :)
     
  11. jafeica

    jafeica Well-Known Member

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    At the time I was concerned I had missed the boat in Sydney, was overpaying and that I wouldn't see any growth for a long time.

    Glad I didn't listen to my own economic analysis and that I put those doubts to the back of my mind!
     
  12. Louis XIII

    Louis XIII Active Member

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    Well done Roy, good luck with your next purchases.