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Discussion in 'Introductions' started by eskander, 7th Feb, 2016.

  1. eskander

    eskander Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    75
    Location:
    NSW » Central Coast
    Hi everyone
    Been on here for about a month just lurking but thought I should introduce myself, didn't even see this thread and it's great to know there are other beginners on here as well.

    So I'm 21, work as an Optometrist, currently based in the central coast.
    My property journey I guess was inspired by my parents who came here from overseas in the early 90's with not much in the way of money, and managed to amass a decent property portfolio all while putting my brother and I through private school on average incomes.

    Currently own one IP in Geelong at about 6% yield. End goal is to get to a stage where full time work is not required and I (and my future family) can life comfortably on a passive income from both property and business investments. I would like to achieve this by my early-to-mid 40s (very difficult I realise, but hopefully not impossible)

    I realise that being in the health profession on a moderately high income (for a graduate anyways) will give me a headstart in my journey through professional loans, no LMI etc so want to take advantage of this as much as I can.
    Any help and advice is greatly appreciated! I've learnt so much already since being on here (including how very lucky I was with my first purchase considering my severe lack of knowledge back then!)
     
    WattleIdo and Gockie like this.
  2. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,936
    Location:
    Brisbane
    Welcome eskander. Hope you find the site friendly and useful.
     
    eskander likes this.
  3. eskander

    eskander Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    75
    Location:
    NSW » Central Coast
  4. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    861
    Location:
    Sydney (West) and Canberra
    Welcome Eskander. :)

    Some of my very sharp investor clients have turned their attention to Geelong and Western Melbourne of late - some very good price points and decent yields there. What made you purchase there over other areas?

    Starting at your age and having a 20 year plan is definitely a good start! The optometry pathway and access to LMI waivers should do you well and potentially accelerate any purchase plans. :)
     
    eskander likes this.
  5. eskander

    eskander Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    75
    Location:
    NSW » Central Coast
    Thanks @Redom
    To be honest it was because I lived there myself in one of the newer estates across the road from Deakin. In a 5 bedder rents were around the 750-800 p/w mark due to being able to charge per person, and they were selling for around 500 2-3 years ago, so excellent yields obviously. With the new Barwon Hospital across the road, shopping centre just getting built 1 km away, new train station, extension of the freeway, and also workcover and few other gov't depts moving there as mentioned elsewhere on PC, it made sense. Hopefully the uni aspect doesn't slow down CG.

    Only trouble is making sure your tenants don't throw crazy house parties (like we used to!)
     
    Last edited: 7th Feb, 2016
    Redom likes this.
  6. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,588
    Location:
    Adelaide, SA
    Hi and welcome, glad you finally came out of the woodwork ;)
     
    eskander likes this.