Just wanted to see how many of you have actually left the rat race of 9-5 and are now full time investors or developers. The thought of just focusing 100% energy into development has been weighing on my mind. I clearly have never done one, but have seen a few people make the transition. I'm not the smartest person in the world but some of the people ive seen successful at this aren't either! Currently sitting on an LVR of around 0.22 and really want to make it work harder for me and this is what I deem the best with access to these funds. Dual occ sites are what ive been researching lately and currently have 3 IPs in the south Wollongong area so know the area decently well. So that area has had tremendous growth and not sure if id want to overcapitalise there. Can anybody weigh in on further south like Nowra, Batemans, sanctuary point etc ( I have read the forums but most info is 2015 ) Cheaper price point. But growth. Demand. Etc. Current play is a yield play - looking to do a 2br granny flat at my Figtree IP. Meantime reading and trying to absorb any and everything I can off this site.
There is quite a few here who have good experience with small (and largish) developments. @Westminster @MTR @D.T. To name a few. I think it's @euro73 who is the dual occ specialist on site at the moment. Plentvof others will be able to pitch in as well. Blacky
Congratulations on what you have achieved I probably would not give up your day job, unless you have other income streams? Its possible to do both until you start generating profits and continue tweaking and learning. Best way to learn is getting your hands dirty and pay attention to market conditions. Build what people want, dont be the trail blazer make re agents your friend. They can provide you with lots of valuable information, ie product demand, what to build, local builders etc Check out what developers are building in the area, dont reinvent wheel copy a successful formula Cant comment on suburbs you mentioned not familiar with this area All the best Mtr
