Hi Peeps, I am and 'from' Mumbai! I turned 37 last month and a very late starter to my investment journey. I work as a IT Manager. Travelled to this beautiful country on a student visa, along with my wife, in 2007 with a $15000 debt (student loan in India) and savings just enough to keep us afloat for 3-4 months. Luckily, wife got a permanent job soon and I worked part time (student visa req) for 2 years before getting residency in 2009. We were blessed with a girl, early 2010. After paying off my student loan and home loan (apartment in Mumbai), we bought our first car outright in 2010. In hindsight, I should have bought a demo/used car, thus freeing some money for our house deposit. Anyway, we bought our PPOR in 2011, which kick-started our journey. We have bought the following so far: 2011 - 3 bed house, Girraween, Sydney (PPOR) - $480,000 2012 - 3 bed house, Girraween, Sydney - $392,000 2014 - 3 bed house, Doonside, Sydney - $460,000 2014 - 4 Bed house, Rochedale South, QLD - $415,000
Done very well Mumbai - great work. I assume those Sydney places in those locations have done incredibly well for you.
Hey Mumbai... What motivated you to keep the apartment in Mumbai..What sort of yield does it achieve (if let)?
Well, its always good to have something where you were born. That's too emotional. Financially, it is a paid off apartment and based on what I paid when I bought it, the yield is around 18%. The cg is amazing though
18 % on buy price , what about on current value ? I have a lot of clients from the region that hold property or business stock, so its not just an emotional thing per se, but a cultural one im guessing ? ta rolf
Next up is Brisbane again. I could not bring myself in terms with investing in Adelaide ATM. I don't see the fundamentals as strong yet.
Great achievement in such a short time Mumbai. Have you considered another purchase in India? Maybe another city that hasn't taken off yet?
Really? Didn't know that. We'll he has a property there at 18% yield. So definately CF+. I assume he has a method of taking money out or he has some kind of setup in India. Interesting point though. Maybe @Mumbai can shed some light?
It's not that 'hard' to cash big amounts out of India, if you know what I mean. But, I don't need it. I keep my money in the local bank and use it when I visit India once in a year. I also send money to my parents as frequently as I can.
