Money money money

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.

 

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?

 

You're doing great so far

 

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!

 

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!

 

From what I've seen in the workforce, no one knows what they're doing, ever

 

On yer Joel. That's a really strong and fast start. Keep it up!

 

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

 

Welcome Joel - nice intro

 

@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.

 

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

 

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

 

Good stuff bud.

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

 

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.

 

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

 

Net is about 120-125k.

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

 

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

 

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.

 

Not most of the bunch in PC

This is still a great number