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Leaving my lurking days behind

Discussion in 'Introductions' started by tapouttim, 3rd Nov, 2015.

  1. tapouttim

    tapouttim Member

    Joined:
    18th Jun, 2015
    Posts:
    15
    Location:
    Sydney
    Hi all,
    Tapouttim
    Having identified my self as longtime lurker i thought i should introduce myself , get in the game and get involved.
    I started my property journey in the 90s and have stumbled along ever since with property my asset of choice . Having just turned 50 ( mid life crisis ? ) i am now looking for an end game ( destination ) rather than just forward motion!
    So I am in the process of working out exactly where i am , ( This weekends homework )
    My end game is $100k pa in todays $ in 6 years.
    This forum has so far given me the inspiration , motivation and commitment to start and will hopefully provide some direction along the way.
    Every journey starts with a first step...

    Thanks Tim
     
    bob shovel and WattleIdo like this.
  2. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    767
    Location:
    Sydney
    Welcome :) What/where have you you been investing in in all that time?
     
  3. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    685
    Location:
    TAS
    Welcome! It is great that you have the end point already, it should make it much easier to work backwards... Especially if you already have a decent asset base! You have done the right thing! Joining in on discussions really deepens your learning, watching from the sidelines just isn't the same! Keep us update as you formulate your plan.
     
  4. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    443
    Location:
    Brisbane
    Welcome Tim - we are in a similar situation with our investment journey with IPs so looking forward to hearing your thoughts on our discussion forums
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Welcome @tapouttim (Tim). Good on you for becoming a contributor. You'll learn a lot more asking questions and being involved in the discussions.

    If you began investing in the 90s, odds are good that in a pretty decent spot.

    What does your current portfolio look like? :)
     
  6. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Gday Tim.
    Sounds like you could be close to doing whatever you want in about 6 years?
     
  7. tapouttim

    tapouttim Member

    Joined:
    18th Jun, 2015
    Posts:
    15
    Location:
    Sydney
    Currently my wife and I have 2 iPs and a PPOR in Sydney,1 ip in Darwin and an apartment in Atlanta ,
    We also have an apartment in Perth that was done as a joint venture under management ( Crido has a thread on here ) that will be completed around the new year which we will settle or sell depending on the numbers which we should have soon.
    We also have an apartment in Brisbane in a SMSF.

    The Sydney properties we purchased in 1993 , 2002 ( X PPOR ) and our PPOR in 2008. The capital gains have been very kind.

    Darwin has been disappointing and not going any where soon.
    Atlanta is a mess but the fall in the dollar will save us.
    Perth is a good location but has missed the boat.

    Always going forward but with the benefit of hindsight I could have done better.

    So Goal ,strategy action ...... Feet up
    If only it was that simple
     
  8. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Go Falcons!
    Have you been over there?
    Parts of it are a bit rough.

    Good on you.
    Must have a fair bit of equity there.
    Where to next?
     
  9. tapouttim

    tapouttim Member

    Joined:
    18th Jun, 2015
    Posts:
    15
    Location:
    Sydney
    Need cash flow to keep moving so have been looking at Brisbane and to build in rear. However I feel I need to put the Perth deal to bed either way first before jumping in to anything else.
     
  10. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,375
    Location:
    Perth, Melbourne, USA
    make sure you are cashed up for Perth, if value comes in low you will need to fund shortfall. Apartments are getting hammered, I am aware of thread by Crido, hope it all works out well

    All the best
    MTR:)
     
  11. bob shovel

    bob shovel Well-Known Member

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    Location:
    Somewhere in the land of Oz
    Good to see you're out of the lurking closet! Well done ;)