Hit my goal of 2mil+ portfolio at 28 years old!

Discussion in 'Investor Stories & Showcase' started by Frank M, 8th Nov, 2020.

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  1. Frank M

    Frank M Well-Known Member

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    Interesting, would you say the slow down is from the success in your property investing journey or as we age and get wiser?
     
    Frank M, 9th Nov, 2020
    #21
  2. Lacrim

    Lacrim Well-Known Member

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    APRA
     
    Lacrim, 9th Nov, 2020
    #22
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  3. Frank M

    Frank M Well-Known Member

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    Haha okay I understand now
     
    Frank M, 9th Nov, 2020
    #23
  4. spludgey

    spludgey Well-Known Member

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    I'm not quite at that stage yet, but it's just that investing has in the past consumed so much of my time and money, so now that the constant cash injections into my IPs have slowed significantly, we can live on our salaries quite comfortably.
    I'll enjoy it for a while and then get cracking with my first development.
     
    spludgey, 9th Nov, 2020
    #24
    Frank M likes this.
  5. Shazz@

    Shazz@ Well-Known Member

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    Thanks for the reply :)
    What’s your next step now? Pay down debt and keep building portfolio?
     
    Shazz@, 9th Nov, 2020
    #25
  6. Frank M

    Frank M Well-Known Member

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    Next step will be pay down debt, increase income for the next 12-24months :)

    How's your investing going?
     
    Frank M, 9th Nov, 2020
    #26
  7. Shazz@

    Shazz@ Well-Known Member

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    Similar to you. Have hit the servicing wall which was why I was asking your next steps.
     
    Shazz@, 9th Nov, 2020
    #27
  8. Frank M

    Frank M Well-Known Member

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    Great, have been hearing that APRA will axe current lending regulations and we possibly can borrow more !
     
    Frank M, 9th Nov, 2020
    #28
  9. Lacrim

    Lacrim Well-Known Member

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    Unfortunately don't think that's the case.
     
    Lacrim, 9th Nov, 2020
    #29
  10. fols

    fols Well-Known Member

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    Not yet. Waiting on the magazine and podcast feature to come out:D
     
    fols, 9th Nov, 2020
    #30
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  11. Frank M

    Frank M Well-Known Member

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    Hahaha you'll be waiting a lifetime my friend
     
    Frank M, 9th Nov, 2020
    #31
  12. Empire

    Empire Well-Known Member

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    His portfolio is worth 2 mill, he just has a 1.6 mill liability. :)
    But yes, good points.
    Out of interest Frank, how much of your money have you put down to build up that equity?
    That's the real return.
     
    Empire, 9th Nov, 2020
    #32
  13. Frank M

    Frank M Well-Known Member

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    Thank you,

    My dept to my portfolio is at about 1.5mil

    To be honest I've never really looked at it haha I'd say it would be somewhere between 120-150k
     
    Frank M, 9th Nov, 2020
    #33
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  14. gach2

    gach2 Well-Known Member

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    Congrats on achieving your goal

    But what seems more impressive is you/your broker's ability to get 1.5 mil in loans (thought I read in a previous post your income being <100k) and most of your properties being post APRA (well even as recent as 2020)
     
    gach2, 10th Nov, 2020
    #34
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  15. Frank M

    Frank M Well-Known Member

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    Thanks.... Yeah his pretty awesome
     
    Frank M, 10th Nov, 2020
    #35
  16. VICPER

    VICPER Well-Known Member

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    Great achievement. May I know the suburbs?
     
    VICPER, 19th Nov, 2020
    #36
  17. Frank M

    Frank M Well-Known Member

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    Thanks, Sure!
    IP 1 - Caroline Springs
    IP 2 - Kurunjang
    IP 3 - Crestmead
    IP 4 - Kingston
    IP 5 - Corio
     
    Frank M, 19th Nov, 2020
    #37
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  18. TDevereux

    TDevereux Member

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    Great achievement. I'd be very interested to hear how you avoided DTI limits affecting the portfolio growth. I'm guessing you and your broker were very smart in the order you used different lenders in?
     
    TDevereux, 20th Nov, 2020
    #38
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  19. Frank M

    Frank M Well-Known Member

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    Thanks !

    Yes correct, loan structuring played a massive key role in growing my portfolio. We mapped this out early into my investing
     
    Frank M, 20th Nov, 2020
    #39
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  20. MFol

    MFol Member

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    Hi - may I ask who your broker is? We want to grow and acquire more properties and need some help with a broker and tax. Thanks
     
    MFol, 11th Jan, 2021
    #40
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