How did you start out in property?

My journey: I have been in Aus 7 years came on a work visa. Spent the first 3 years not really worrying about the future and saving but mostly finding that saving going to better causes than any I had. One was my brothers Uni. I didn't need to do it, but I wanted to. Once that finished, no aim again, until I had a bit of a wake up call personally in 2014. Realised that a dissatisfied me makes for a lot of motivation to invest. Had full support and 10 percent out of a 20 percent deposit for the PPOR from a super amazing father. So I bought one in 2015. In 2016 realised i had deposit to buy another (my father again pitched in about 5%). In 2017 finding I can buy once more plus helping younger brother out a bit on his first property. Let's see how we travel..

 

My goal is to create passive income for regular bills and couple of international holidays per year. Tried my hand with shares and then started reading or considering property investment. During this process the sydney prices was touching sky. However, due to wife pressure had to settle for a OTP PPOR. Have paid 5% ( means I own only 5% ) . It will take an year for my dream home to be ready and then I think I may have to wait al-least an year for my first IP . Till then I hope to read and learn about investing and be ready to make the plunge .....

 

I was chasing after the great australian dream of owning home, having finished my masters in uni and only starting out working fulltime when I 26 didn't help me much. In 2013 we paid a deposit for land which was settling in 3rd quarter of 2014 house was finished building by mid 2015 my aim was to pay as much of the mortgage as I could but wife had other ideas after reading about property investing. She dragged a very reluctant me to a seminar in early 2016 and after hearing to Tim Guest a bulb went out. We were forced to sign up with them but lucky we didn't.. Read a few books, signed up for magazine and went for a few more seminars. In the end decided we will get another house and land as wife works for a home builder. First investment finishing up in April, comparable H+L in the area are selling for 120K more than what we paid. Fingers crossed we will buy another towards the 4th quarter of this year as a renovation project. We are still testing out which strategy would work for us.

 

Hi Wellknow, out of curiousity, where are the house and land packages if you don't mind sharing? That's what I ultimately want to do as a PPOR

 

IP is in clyde north. Suburbs like beaconsfield office have quite a few too