My journey: How it started / How it's going

Umm well going off the fact that no where in this thread is there a mention of anything about Elizabeth, my answer is going to be "a small amount of random irrelevant information".

Oh, I started with the personal attacks?

Funny thing about this forum thing is everything is literally recorded.

 

I'm not sure in who's book ~10% is considered extremely low levels of growth per annum over the last few years. Sorry that doesn't match your standards but I hate to tell you, we didn't do this for you. This is working quite well for us. We really couldn't be happier. It's performing higher than we projected it would, it's tracking considerably higher than our target growth rate for this portfolio. Sorry it doesn't tick your box bro but we just met so we just didn't have the time to consider your feelings. Soz! It ticks our boxes so we're gonna roll with that.

You keep throwing that random poster line out there that must've really hit home! Yes yes random poster I will do what you keep telling me and literally not listen to you and sort my own affairs out. Yes. Noted. Got it!

 

Too immature to waste my time on.

Best of luck.

 

We went into these places because of the growth that we were seeing. We're literally experiencing it right now.

I love how you misinterpreted my own post in an attempt to throw it in my face that was clever. But trust me I wish I could take credit for my strategies but they are influenced by those among the 20,000. There's no need to ask the buyers agent if they receive fees from the developer. Of course they receive fees from the developer. It's not surprise knowledge. Developer premiums are a known thing. But rather than shutting down at "developer premium" you should try opening up. That ties in to your mindset and your strategy. People will spit at a developer premium and then go and spend 5 times as much on maintenance costs in their portfolios for example. A developer premium doesn't make a deal a bad deal. Everything has to be looked at and factored in accordingly. And it will never work for you if you choose to be ignorant about it and never actually look into it.

 

That is not a personal attack, that is just suggesting that you do more research.

And as for the reference to Elizabeth, have you looked up the location of Direk and Andrew's Farm? That's right! Just off of Elizabeth. In fact, Andrew's farm is right next to Davoren Park.

 

Yeah, right!

 

I mean you don't have to take my word for it I've got better things to do with my time than to sit here and lie to randoms on the internet bro. Believe whatever keeps that beautiful smile on your face. Just saying Kiyosaki for example has a few strong words about negative gearing and so did all 3 of the property advisors and buyers agents that I interviewed before choosing one. And the one I chose is an investor himself. He owns 65 properties and has a net worth of $80 million dollars. I mean but look I can hear you now "haaahahhahaa ya ****ing right dude what a load of bs" But again you love believing in what you love to believe in so go with that it seems to make you more comfortable.

 

Look it’s really great you’ve achieved some growth. But don’t be surprised if that growth is short lived and you have a decade of flat growth or worse negative growth. Which can and does happen. There is a heap of supply around those suburbs.

With your cashflow, I’d strongly suggest buying inner/middle ring Adelaide. By all means use a buyers agent, but use one that you pay for their service.

Good luck with it all.

 

It is a persona attack. You are implying that I don't know what I'm doing which is CORRECT, but nonetheless it is indeed a personal attack.

Anyway again, no one mentioned Elizabeth. In the world of investing there are markets within markets. You could have properties down to the STREET level that significantly underperform properties across the street. We all have things we need to learn. So I too, suggest you should do more research about the markets within markets that exist in real-estate. Just because a suburb next to a suburb is underperforming, it doesn't mean all suburbs surrounding that suburb are also going to underperform. That's an extremely shallow approach to asset selection and the primary reason why I lean on the expertise of people that know what they're talking about. Because they are way better at picking assets than you.

 

No one works for free mate. And property never grows all the time. Property only grew 10 out of the last 30 years. Trust me there will be no surprises there. That's why yields are also important because they help to support your asset during times when it isn't growing and going backwards.

I appreciate your suggestion respectfully and will take that on board. However, you have to have a little more than cashflow to get in to the inner/middle ring. You also have to have cash. Cash or equity. And at the time I got in I had no equity so I had a choice with my cash to either go in to one negatively geared asset with lower yields and stagnant growth (given the property cycle), it was a better choice to spread risk across two assets counter-cyclicly in an area that has taken off but not quite boomed. That lined up with our targets of minimum 5% growth and 4.5% yield. Its right in the sweet spot to where we can take advantage of the growth in the boom while setting it up to target where we want to be long term with our strategy. We don't ever plan on selling these assets. We don't expect them grow constantly for eternity. We expect them to grow at least 5% averaged over a 10 year period, we expect them to pay for themselves, and we expect them to support the lifestyle we want for our family.

And you know what? That's the kindest message you sent to me all day. And I want to thank you for that and thank you for wishing me luck and thanks for bringing it back to positive. We all learn more when we get along.

 

Best to keep an open mind and look at the possibility rather then attacking @skater and @Sackie but looking at your post you been quite hype up.

 

My comment's value has doubled in the last 12 months though, from 2.5c to 5c

 

Links for OP to some possible starting points for further research:

Belief perseverance - Wikipedia

“maintaining a belief despite new information that firmly contradicts it. Such beliefs may even be strengthened when others attempt to present evidence debunking them"

Boomerang effect (psychology) - Wikipedia

“the unintended consequences of an attempt to persuade resulting in the adoption of an opposing position instead.”

 

That's an interesting take. Keeping an open mind and looking at possibility is exactly why I joined this forum. Beautiful insights and lots of experience. Your own advice would also work well for you. You could also keep an open mind and look at the possibility. My situation for example is working well for me. I did not start this thread to attack these two. These two came in and decided to tell me that I don't know what I'm doing, my portfolio isn't growing the way they want it to grow, I should be negatively gearing because I can afford it, without considering me, who I am, what I want, what my strategy is, what I am and am not comfortable with doing, absolutely nothing about what I am doing related to me.

And now here you are as another example. Rather than simply enquiring on what I'm trying to get out of all this or asking me to elaborate or wanting to know more about anything, you are assuming i'm closed minded and that i'm "hyped up" based on your interpretation of what you read, telling me what is "best" to do. Bro i'm not your son. No offense. And don't take that as me getting "hype". Trust me you'll know when i'm getting "hype". I know what is best for me but thank you. It's unfortunate that this presented itself as two people who think they know more about my situation than my property advisory team of industry professionals that actually took time to get to know me and my entire situation from personality to finances and then build a strategy based off that all of a sudden start telling me what I should be doing different knowing 0 about my situation. I mean it didn't have to be this way. Others have simply just asked questions and who knows if they hated what I was doing? I don't because they kept it to themselves or a simple "good luck" you know, interpersonal skills 101. Not everything is for everyone and there are many ways to accomplish goals.

 

Much appreciated!

 

Great point for anyone of thinking where to start! You need dreams and goals and plans but they don't come into fruition unless you take responsibility and action, IMHO!
DREAMS + ACTION = RESULTS ?

 

All due respect Simon, I certainly don't mean to intend or imply or admit for a second that I have more experience than anyone. And although time in forum doesn't necessarily equate to time in markets, you are correct I'm extremely new to this and learning more and more everyday. What I am currently doing is investing using a financial services advisory team of buyers agents, conveyancers, accountants, brokers etc. with collectively 40 years of property experience. The properties chosen go through several panels of industry professionals that make sure the properties that are selected match the strategy laid out for us. I have a lot of confidence in the assets they've picked as they are performing well in line with the strategy, however I apologise if I'm coming off as aggressive. It's a shame it turned out this way because if you spoke with anyone who knows me, i'm actually the least aggressive person they know. Social media unfortunately has that affect at times.

Happy to lay out dates
Direk - March 2019
Mount Barker - December 2019
Sorell - December 2019
Andrews Farm - Feb 2021

 

That's it!!