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Hi , I'm See Change

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

  1. See Change

    See Change Timing Lord Premium Member

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    Hi

    I'm from Sydney .

    I started my investing journey the day after my 40 th birthday .

    Sitting down , contemplating the phrase , life begins at fourth , a back of the envelope calculation showed that mid 70's was more likely ..

    A couple of days later I heard Richard Kiyosaki being interviewed on ABC radio about his book " rich dad , poor dad " and my journey began . Not long after I discovered somersoft and the rest as they say is history .

    15 years later we've bought and sold over 30 properties and , if we wanted , could put our feet up and relax . I enjoy doing things so that's not the end game for me .

    Cliff

    It's better to be guided by your dreams than your fears
     
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  2. meme plecko

    meme plecko Well-Known Member

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    Great, we have something in common - a big decision made after turning 40 to take property investing seriously :)

    If I could replicate only 50% of what you achieved in 15 years I would be VERY happy.
     
  3. wombat777

    wombat777 Well-Known Member Premium Member

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    Wow - 30 properties! That's a significant turnover. You must have lots of war stories. What has been the best and the worst transaction? ( in whatever way - location, agent, vendor, etc )

    I'm only 4 months into my journey.
     
  4. Catalyst

    Catalyst Well-Known Member

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    Inspiring, Cliff! How did you get started after listening to Kiyosaki?
     
  5. See Change

    See Change Timing Lord Premium Member

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    First thing was a change of mind set .

    A couple of years before , we'd thought about buying an investment property and had been told to talk to a financial adviser .

    Advisor had told us that the best investment we could make was paying off the mortgage on our PPOR . As he was an expert i accepted his advice .....

    Once I read RDPD i kept on reading and quickly realised that the concept of good debt and bad debt was the most relevant issue .

    Our first step was to consider selling our house at the time , buy somewhere debt free and start investing . One of the agents suggested we could subdivide our block . I'd already considered doing this and talked to council but had been told that it didn't comply with the guidelines and it didn't . The agent said that the council could be reasonable and bend the guidelines if what we proposed was reasonable . She gave us the name of someone who could advise us . We talked to them but decided to go it alone l which we did and ended up subdividing , selling off one block and building a new house on the remaining block which we kept for a year before selling , buying another house on 3000m2 which also didn't comply with guidelines which we were also able to subdivide and repeat the process .

    I discovered somersoft ( ? In 2000 ) while doing the first subdivision and became hooked.

    While we did well with both subdivisions , if we hadn't done them , I wonder whether we might have done even better with considerably less disruption and stress .

    On both occasions while we were busy markets we were watching moved significantly . Initially we watched Sydney's boom around us and during the second one we did our dd on Geraldton ( at the same time as Karina was busy buying ) but didn't go ahead due as we were being financial stretched by the second subdivision . We also sold some of our rocky properties to help pay for this knowing the market up there still had a way to go .

    The first PPOR we bought in concord west in 1988 was at the top of the market and went sideways for the next 7 years .

    For me the easiest money we've made has been with simple buy and holds when the market has been moving , hence my current emphasis on getting the timing right .


    Cliff
     
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  6. Coota9

    Coota9 Well-Known Member Premium Member

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    I am like a few others that have had that light bulb moment at the big "40" to start investing.

    The question I ask myself is why didn't I start earlier,why did I waste my 20s & 30s?.

    The answer I think although may seem a little ignorant is -you only know what you know.

    Thanks See_Change for your story as it is a great inspiration for us that have started investing a little later on in life

    Coota
     
  7. bob shovel

    bob shovel Well-Known Member

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    great story! and thanks for sharing so much on ss and now here as part of the next chapter.

    i wonder how many investors have started off with poor advice?? plus like coota said waiting to make that start! i know for me it was buying at a peak and being somewhat disheartened plus poor financial advice (even though i understood the basics - buy, take on debt, rent pays down debt)
    plus a big thing is that light bulb moment of mindest!
     
  8. Perky29

    Perky29 Active Member

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    I think its also the investments that Cliff didn't make which have proven to be the smartest too , unlike some of us others here (if that's the same Financial Adviser which Cliff mentions).
    Good thread Cliff.
    David
     
  9. Mick C

    Mick C Well-Known Member

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    Top stuff Cliff!

    Sold and bought 30+ properties ....gosh that's a lot of work for your tax accountant :)
     
  10. See Change

    See Change Timing Lord Premium Member

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    David , I wasn't referring to Steve . This was my dad's FA and that would have been around 1995-1996 which would have been a good a time to buy in Sydney .....

    But as you raise steve , there have been several investments which we've looked at which we've chosen not to be involved in .

    For me to invest in something I need faith in the motivation and expertise the person running the scheme and the scheme needs to be simple to understand with no obvious flaws ( KISS ) .Ii won't go into my reasons for not getting involved with steve as I think it's been done to death before and I think everyone wants to move on now .

    Cliff
     
  11. Natedog

    Natedog Well-Known Member

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    Good to see you over here Cliff,

    I have enjoyed reading your posts over the last 10 years over on somersoft.

    Don't forget to get that "hyping Brisbane" thread going :)
     
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  12. aussieB

    aussieB Well-Known Member

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    Good stuff @See Change. Do you reckon starting after 40, gave you more access to saved monies and thus making your journey relatively easier ?
    Being in your profession you may have escaped LMI every single time but to come up with the required 5 - 10%, before your 40s, would you still have to cut corners and live frugally ?
     
  13. Rixter

    Rixter Well-Known Member

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    Inspirational read Cliff - well done on your achievements & success.

    Like you, I had one of those life reflection moments at the turn of a life span decade.. mine was at 30.

    It must be something about birthdays & life reviews. :)

    Once again well done.
     
    Last edited: 22nd Jun, 2015
  14. See Change

    See Change Timing Lord Premium Member

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    If i knew back then what I know now , I'd be much further ahead

    No question about it .

    Time is an important factor and many of the enthusiastic 30 something's on the forum will be much further ahead than we were at 40 on considerably less income

    Cliff

     
    Last edited: 23rd Jun, 2015