My Property Investment Journey - Week by Week

Tks. @Jose Eduardo Slompo Who's the PM?

 

Won't post it publicly, happy to give you his name on a private message.

 

I think that sounds like the agent goes above and beyond from my experience . I can understand them doing something for the seller as that is ultimately their client who is paying them . Some would maybe do a little hamper and or Champaign for the buyer but some of that other stuff is very nice of them

 

Tks @Patrick Bateman, that's great to know.

 

It’s a good selling agent who is also putting in your mind that if you ever decide to sell who is the first person you’ll likely reach out to?
Good work by the agent on building a long term potential client for a little bit of follow up, rather than ignoring some basic help to the buyer that costs them not much.
Think of it as a bit of quality service = best advertising.

Congrats on the purchase too!

 

Makes perfect sense, tks for taking the time to post.

 

Hey @Jose Eduardo Slompo I've read your whole thread and it was very motivating, so thanks for sharing your journey .

I'd love to get your thoughts on a dilemma that I have on whether I should buy a potential PPOR first or go completely interstate for investment. Would appreciate if you could please give me your honest thoughts on my thread Syd or Brisbane? Analysis Paralysis

You just need to read my first post. Thanks!

 

@Ali555 super glad that you read my whole thread and that it was useful for you. I've learned a lot from it and it makes me happy every time someone says they're also learning from it.

Just replied to your thread, hopefully it helps.

 

Congrats @Jose Eduardo Slompo fkr all sharing Complete journey and thanks for this thread, I have read Complete thred. I learned so much from reading it. Keep up the great work,

Thank you for being transparent about your mistakes and honest about what you don't know, you are an inspiration in the forum. Thank you.

 

Thanks a lot for the kind words, @Joy1111 JD, it means a lot. Really glad you could learn from the thread. I'll be back to posting weekly as soon as I can, just super busy with the interstate move. Stay tuned!

 

Hey Jose, tell us about your move

I also thoroughly enjoyed your journey and learnt tons of value from your story! Maybe if you dont mind, give us an update or breakdown of what value your IPs are currently sitting Thanks!

 

Glad you got value from the thread, @Irove. That's what it's all about and why I started it in the first place. I got tons of learnings and connections myself through this thread, but it has also helped a countless number of people, which makes me unashamedly proud.

We moved to North Lakes (QLD) in early Jan, after almost 11 years in Sydney. We always loved Brisbane, used to visit almost once a year for a few days, and always said we'd someday move here, but it was never the right moment as we were focussed on our careers in Sydney.

Then COVID came, remote work became widely accepted (at last!) and we managed to move up here without changing jobs, which is the best of both worlds really: living where we love while keeping our income from Sydney.

This story is far from unique - lots and lots of people doing the same, leaving Syd and Melb and moving to QLD. I can totally understand why.

Regarding my IPs, I won't publicly post their market value but happy to talk about it through direct messages. All I'll say is that they were all great buys. They never had any vacancy, weren't impacted by the floods and all 4 went up in value considerably (2 of them around 40-50% and the other two 70-80%). As I always say, buying well is key as you can make money on the spot, when you buy, if you get a good deal (and that's why I always tell people to use a Buyer's Agent, but that's a different story).

Lastly, I haven't posted weekly because the move has been keeping me busy pretty much every weekend, with lots of things to do in the house, constant trip to Bunnings, Nick Scali, Freedom... it's a lot of work, but it's cool and exciting.

Once things calm down a bit I'll definitely come back to my weekly posts.

 

your journey is so inspiring that this is always the first thread i check coming to the forum! just exciting to see on your progress and also learned a lot.

For newbies like me, having a good team really matters especially a very good BA and a mortgage broker then eventually an excellent PM.

 

Tks for the kind words @Redjane!

And yeah, nothing beats having a good team around you, regardless of whether you're starting out or own 50 investment properties.

 

Congrats on the move! North Lake is now becoming a little hub for the outer north areas, great amenities and well connected. We are also closely looking at Redcliffe Peninsula but the boat might have sailed...again well done! You have certainly ride the Brissy wave big time.

What is the next one then?

 

Redcliffe did well, very good point. Even North Lakes, where land is anything but scarce, went up a lot.

That's correct, I certainly enjoyed pretty good growth by having all my IPs in Brisbane, but I invest for the long-term and I believe there's still a lot of growth to come. Definitely not on the same level as last year (not sustainable), but I'm talking 10-15 years, so will buy again in Brisbane.

 

Lol mate, Brisbane again? Have you seen your new land valuations? Paying a lot more land tax…

I think you should diversify, Perth is looking good hehehe

 

Yeah, received them by email, definitely not a great email to receive. There are ways around land tax though (one IP and PPOR are already on wife's name), definitely not a concern for me. Add to that the fact that our beloved QLD government is looking at considering all the land you own across the country for land tax and it doesn't really matter at all (this change might have already been confirmed, not sure where it's at to be honest but I know it's just a matter of time).

So, with land tax out of the way, the real question is whether it's best to invest or Brisbane or Perth, and I think that depends on each individual's preference. Agree with you when you say that "Perth is looking good". I personally think Perth is a good short-term play (buy now, sell in 2-3 years), but can't imagine it being close to Bne, Melb or Syd when it comes to long-term growth (10+ years from now) due to several factors: local and global economic relevance, jobs, immigration etc.

My approach is 100% long-term (10+ years), hence my preference for Bne/Melb/Syd.

 

Great Story mate. I've just read it.

Kudos to you my man.

 

Thanks a lot, mate, really appreciate you taking the time to leave a comment. Hopefully you got some value out of it.