How detailed is your strategy and planning?

How much does the cba mentor charge? What have they done for you? It sounds like something I might need. I feel like I'm stuck in neutral, passing a thousand ideas through my head but don't take the next step.

 

Start with reviewing your portfolio and how best to tweak it to move forward
What is holding you back?

 

Free. But it's a program organised by the bank for bank staff. Interested staff put in some info and they matched you up with a mentor (who also works for the bank).

I suppose you would have to set up your own mentoring relationship if you don't work for the bank.

 

I think he put the analyst before therapist on his business cards. Didn't seem to get much work with his combination job title.

 

I don't have a portfolio as such yet. I just have a ppor. What is holding me back- starting. Can't get another loan until my wife goes back to work in February from maternity leave.

 

If you work for the bank do you know if they offer a mentoring service to customers?

 

Staff can do a financial health check* for you... but I wouldn't necessarily call it mentoring.

Spoiler

*I'd personally call it either a tool to help sell more services or a tool to identify services a customer may find useful that the bank offers... you can decide on how you would interpret this service.

 

I see
There is always a way but you will require ABN number, RAMS Lo doc
However I would not recommend this if you cannot service debt

 

Plenty of time to narrow a plan down so you can jump into action feb 1!

Keep reading and asking questions etc

 

I have a company so yes I have an abn. Servicing will be a bit tight at the moment so I will rather just wait til feb and be comfortable until then.

 

Yep, lots of paper trading - working out what figures you need in the strategy/approach you want to follow, and watching the market in the strategy you choose.

 

When are you in Sydney. Would be good to meet up for a beer and chat.

 

That's the hard part. Well for me anyway. Deciding what to buy. Whether I should buy something and renovate it or buy something ready to rent.

 

You may find more equity if you buy something that can have value add applied to it. You need equity to buy the next one, and the one after that.... Or you could just time it really well. Anyway, come to a meetup....

 

I

have been to a few meet ups but the last few have just been bad timing for me because of the birth of my daughter and then I started the building course. I will hopefully make the next one.

 

Many will know I'm not a prop investor but I think this can work for any type of investor or goal setter. I've got a 10 year plan broken down to annual (end of calendar year) milestones. Covers everything from PAYG income & savings, Super balance and contributions, listed stock portfolio performance, dividends and additional investments, dividend income from unlisted businesses and proceeds of sale of primary business, PPOR valuation (incl. upgrade) and the like. There are a lot of moving parts but so it's not going to be spot on each year, it's about the end goal.

The end number is a total net wealth figure and an annual income stream derived from it, without "working" again.

 

A date? ....

I'll be back December i think. Bit of a crazy time of year but we can sort something out

 

Don't push your luck

 

This is not a bad thing, gives you a time frame, gives time to look at and watch various markets and suitable places for you guys, then once your ready to go you should be able to choose what comes up that suits.

 

So much hand wringing and hypothesis. You never know what's around the corner. Markets change and you have to change with it.