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Money money money

Discussion in 'Introductions' started by joel, 11th Aug, 2016.

  1. joel

    joel Well-Known Member

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    I don't think I ever introduced myself.

    My name is Joel and I like money. Probably because I've never really had any.

    I grew up in a country town and moved to the city by myself at age 17 to study a double degree in Engineering. Without Centrelink I never would have made it. Even though I now work as an engineer, my best subject at uni was economics.

    Nothing inspired me to invest in property. I didn't read any books. I didn't inherit any money. I just struggled to find and keep a job and decided I need to take action so that I'm not perpetually reliant on Centrelink.

    Two years ago, I was an unemployed graduate with only $50 to my name. Now, my assets total over $500,000. I earn a below average wage but I have put every spare cent of it towards my investments.

    Growing up, I never thought I'd ever own a house. But here I am with two. To be honest I can't believe it.
     
  2. MsAli

    MsAli Well-Known Member Premium Member

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    Congratulations @joel. Vision. Goals....as Jim Rohn says

    "Goals. There's no telling what you can do when you get inspired by them. There's no telling what you can do when you believe in them. There's no telling what will happen when you act upon them"

    What's next?
     
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  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    You're doing great so far :)
     
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  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Imagine what you could do if you believed it :)

    ta

    rolf
     
  5. joel

    joel Well-Known Member

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    I'd like to keep going but it seems I've hit the ol' serviceability wall unless I buy a PPOR. Plus my second purchase was much more stressful than the first so I guess it's time for a break!
     
  6. bob shovel

    bob shovel Well-Known Member

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    You need to get a couple of years experience and chase a new job with better pay. Once you get a few years under your belt and you know what you're doing you should jump up higher. ... or just put the degree in storage and become a TA and earn the big bucks! :D
     
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  7. joel

    joel Well-Known Member

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    From what I've seen in the workforce, no one knows what they're doing, ever :p
     
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  8. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    On yer Joel. That's a really strong and fast start. Keep it up! :D
     
  9. bob shovel

    bob shovel Well-Known Member

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    True! So you might as well get paid more!

    Depending on your current field. A ta will be equiv to an eng with around 4 or 5 years experience. Might as well get the money now and keep buying ip's them in settle into a desk job with good site experience and once you've got more IP's!
    Just an outside the box idea:D
     
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  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Welcome Joel - nice intro :)
     
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  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @joel use your struggles and hardships to drive you and go insanely hard. The treasures you'll gain along the way and in the end will far outweigh the effort put in. And stay away from the negative loony toon people, they only offer poison to derail you from your dreams.

    Well done so far.
     
  12. datto

    datto Well-Known Member

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    Yeah good on you Joel. And thanks, your quick success is making me jealous.
     
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  13. Azazel

    Azazel Well-Known Member

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    Good on you Joel!
    Enjoying reading your updates in your reno thread.
     
  14. Greyghost

    Greyghost Well-Known Member

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    Good stuff bud.

    So assets over $500k.
    What about liability value?
    What is the net position?
     
  15. devank

    devank Look, lets just get on with this, ok? Premium Member

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    True... The more you know, you realise there are lots more to learn.
    Before my research masters I thought I was the expert in my field. Now, I feel like a fraud.
     
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  16. bob shovel

    bob shovel Well-Known Member

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    What about it? I'm guessing they weren't free
     
  17. joel

    joel Well-Known Member

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    Net is about 120-125k.

    I refer to total assets because people are more impressed by big numbers.
     
  18. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Still very good coming from nowhere and it should set you up for a bigger portfolio.
     
  19. Greyghost

    Greyghost Well-Known Member

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    Doesn't mean jack if I have 2m of assets and 2m of debt. That's all ego in my book..

    My favourite saying "turnover is vanity, cashflow is king".

    You will come unstuck if one of your primary drivers is to impress people.

    But $125k from where you started if noiicee! That's what I want to hear!!

    Keep up the good work.
     
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  20. EN710

    EN710 Well-Known Member

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    Not most of the bunch in PC ;)

    This is still a great number :)
     
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