I have been on the property journey 3 years now, after buying my PPOR and seeing it gain value thats more than my income in 18 months, I decided to put some focus on this. I have bought an IP since and hoping to build a portfolio that will help me retire with a passive rental income I am not too young so dont have much time but also gratefull I have started now than later. I wish to learn from the forum and make friends that we support each other on issues.
From what I am reading many markets in Australia are in for many years of low capital growth. Hard to find one cash flow positive and having good potential capital gain. $500k worth of share portfolio is a lot less stress than a $500k house.
welcome to the forum @daKing congratulations, to your current achievements, "I have bought an IP since and hoping to build a portfolio that will help me retire with a passive rental income" make a plan, hoping is not a strategy, "I am not too young so dont have much time but also gratefull I have started now than later." how young is "not too young", 60 yro if the new 30s, . never too late. "I wish to learn from the forum and make friends that we support each other on issues" most of us ( members on the forum) are on the same journey, some have done exceptional well, some are on their way, I am sure you can make loads of good friends, reaching out, getting in touch with ppl, attending meet ups.
Thanks all for the nice welcome, I will try answer your questions below. I wish I had discovered this forum earlier as people are really nice
Thanks Property twins, Its true I have a dream, and I will work hard to make it reality my basic goal is to replace my income in 10-15years. From some case studies I have read, making right choices can help reach the goal sooner
only issue with shares is leverage, with 50k the bank can give me 500k for a house but never for shares. I dont know much about share (they feel more speculative ) but am happy to learn if you can refer me to good resource
Welcome. Ask and learn - they are a friendly bunch. The ETF thread and the LIC thread here is good for share investing (better than most share sites as the spruikers of their own companies are not here).
Welcome. Never too late to start, it just means you have to work harder faster. I hear people in their late 20's saying they wished they'd started earlier. HA!! (I wish!) I started at 50. Had to work flat out as I didn't want to be working until I was 65. Sounds like you are off to a great start. You'll get great support here.
Started buying in 2008. We bought houses that needed a reno. Did a full house reno in 5weeks making them CF neutral to positive from day 1 on 105% lend). Did a few of these, creating instant equity. I "went crazy" according to my hubby and bought a fair bit in 4 years. I concentrated on CF as I wanted to retire. The Sydney boom was very kind to us. Sold some and retired at the end of 2015 (pretty low CF). Sold two more 2018 to increase CF as we travel A LOT.
Only thing that can speed up the process is to add value to a site in some way. Usually adding value means a higher risk strategy, but renoing is probably one of the 'lower risk' add value strategies available. You also need to keep in mind your age and what is an appropriate level of risk to take on for yourself., Only you can answer that. To me, hands down what will make the biggest difference is to simply thoroughly educate yourself about this game so you know what options are available and how to best go about pursuing them, making the best decisions possible along the way. At the end of the day, all the above is useless unless you have an income machine (employment/income of some sort) that will allow you to keep borrowing to expand your portfolio. Income/serviceability is vital. Without it, its game over. Depending on your age, you may want to look at more than 1 asset type to realise the CF you eventually are after.
