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How far along are you ?

Discussion in 'Investor Psychology' started by Ace in the Hole, 25th Sep, 2015.

?

What's your property accumulation journey progress so far, (excluding PPOR).

  1. Just starting out, don't have any IP's yet.

    11.6%
  2. First one down, many more to come.

    24.5%
  3. Gaining momentum, up to 1/4 of the way there.

    23.9%
  4. Well into it now, about 1/2 way there.

    9.0%
  5. In the home stretch, up to 3/4 done.

    11.0%
  6. Just about there, one or two more should do it.

    6.5%
  7. All done, but wouldn't say no to an irresistible deal, just one more...

    11.0%
  8. I'm done with buying for good, retired from the game, no more for sure.

    2.6%
  1. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
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    Location:
    Sydney
    Based on your current goals/expectations of where you want to be accumulation wise in regards to investment property leading towards financial freedom.

    Resi, commercial, whatever, based on value of portfolio.

    This poll is aimed at medium to long term investment holdings rather than property transacted as business transaction generally of shorter terms.
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
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    Posts:
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    Location:
    Adelaide, SA
    Interesting question!
    Voted half, but in reality its probably more like quarter because goals expand as I learn new things.
     
  3. EN710

    EN710 Well-Known Member

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    Location:
    NSW
    Getting IPs down, many more to come and no where near a quarter :confused:
     
    Last edited: 25th Sep, 2015
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  4. Sonamic

    Sonamic Well-Known Member

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    951
    Location:
    Sunny QLD
    Almost 1/4. Subject to Finance. ;)
     
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  5. FireDragon

    FireDragon Well-Known Member

    Joined:
    31st Jul, 2015
    Posts:
    171
    Location:
    Australia
    I have achieved financial freedom with my current portfolio, but I will just keep buying whenever there is a good deal. Should I pick the last option?
     
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  6. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Congratulations, probably the 2nd last option is most appropriate.
    It all comes down to your own goals and expectations.
    Financial freedom is great and could be your end goal, but for some, financial freedom may also be only the first stage of their goals.
     
  7. Beelzebub

    Beelzebub Well-Known Member

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    Location:
    Lost
    I think two things would happen with this post. As your portfolio grows you shift the goal posts, so in a sense you never really reach your goals or 2 after you have reached your goals this website becomes less relevant and meaningful and you stop logging on and seeing these types of polls. Anyone who has been in the game and on this site for a while have any thoughts?
     
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  8. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,392
    Location:
    Mt Druuiitt
    I never really set any property accumalion goals or any other target until about a month ago.

    After recently selling an IP I set a target of trying to accumulate one mill in cash. Just for the heck of it and in any way possible.
     
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  9. Leo2413

    Leo2413 Well-Known Member Premium Member

    Joined:
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    Location:
    Sydney
    I am currently financialy free and if i stopped all work and developments i would have a nice passive income.

    We choose to keep building to expand our level of financial freedom and also because it so much bloody fun! Why would we want to stop...:D
     
    Last edited: 25th Sep, 2015
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  10. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Location:
    Sydney
    The last property we bought was 5 years ago.
    Portfolio is + 10mil now, but I still log into this site, (previously Somersoft), religiously every single day, learning and looking for that next piece of gold.
    Have we bought our last property?
    I really don't know, but probably not.
    However, this forum is still as meaningful to me today as the very first day I joined Somersoft 13 years ago, and there is no way we would have come close to where we are right now without it.
     
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  11. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    685
    Location:
    Sydney
    I'm 5 years through my 13 year plan. But I've only got $10k positive cashflow out of my $100k (in 2010 dollars, so let's say $150k) goal. As your profile picture shows, the heavy lifting (hang on, that was your previous profile picture!) is done in the last few years of exponential growth.

    And to make the matrix even more confusing, I'm at 9 residential properties now, and I'm assuming that I'll end up somewhere around the 20 mark and probably a couple of commercial ones.
     
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  12. ellejay

    ellejay Well-Known Member

    Joined:
    19th Jun, 2015
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    Location:
    Kimberley and NZ
    I've got enough passive income for a reasonably comfortable life. Thought I was done but just heard that I can squeeze out another couple of loans. I guess plans evolve as we move along.
     
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  13. Elives

    Elives Well-Known Member

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    Location:
    Queensland
    how do you guys afford to keep buying in the new APPR changes? also if they are capital growth properties they will be neg 3-8k p.a. surely that bites away at your serviceability after every purchase. if they are cashflow / regional nvm the above
     
  14. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
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    Location:
    Adelaide, SA
    Buying requires 2 things, serviceability and deposit:
    - Capital growth (whether organic or manufactured) provides deposit.
    - Cash flow provides servicing. If c.f.+ your serviceability gets used up at a slower rate.

    I don't buy anything without thinking about how this purchase is going to affect subsequent purchases. At all times I want to know where my next deposit is coming from.

    APRA hasn't changed much for me because of the structured strategy my broker uses. He tells me he gets lots of clients whose brokers have told them no more.
     
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  15. MTR

    MTR Well-Known Member Premium Member

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    Location:
    Perth, Melbourne, USA
    Same, picked second last
    Do serial investors ever retire:p
     
  16. skater

    skater Capitalist Premium Member

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    Location:
    Sydney
    Like MTR, I also picked the second option. Hubby's retired now, but I seriously doubt that we've bought our last property.
     
  17. C-mac

    C-mac Well-Known Member

    Joined:
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    Location:
    Sydney
    I hit a quarter of the way there.

    With capital growth looking to slow for a few years in a couple of markets I play in; I think my overall % to goal will pause/slow a bit for the next couple of economic-turbulence years.

    Hopefully I can complete my acquisition stage which has been going for 7 years (about 2-3 more to go) and then be a bit more 'set and forget'; (hopefully) prosper through another CG boom in my chosen markets; pay down some debt, and that should get me there! (Oh, and add a pinch of salt, a few good luck charms, and a 'no unforeseen circumstances' caveat too all of that!)
     
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  18. ellejay

    ellejay Well-Known Member

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    Location:
    Kimberley and NZ
    Only one of my ips in cashflow negative. I also make sure I earn the max salary possible and pay down debt to increase serviceability.
     
  19. Johnny Cashflow

    Johnny Cashflow Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    740
    Location:
    SA
    Don't have an end goal yet.

    So not sure how far along I am :-S

    I am always buying ips that I can add value by either subdivision or bmv or renovation that can add value though.
     
  20. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Location:
    Sydney & Gold Coast
    A quarter of the way toward my baseline goal.

    But in $ value of portfolio, not even 10% of the way.
     
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