New investor looking for accelerated growth

Hi Everyone,

I'm Ryan, new member in this group and looking for inspiration and direction to be a property investor.

There are a lot of strategies available, but what I'm looking at the moment is a quick turnaround in order to move to the next project quicker. I am also considering JVs.

Can anyone recommend a group/business/mentor who do this? Giumelli group, ateam property group seem to match what I'm looking for. Does anyone have experience with them or know similar business?

A bit about me... have been in IT for 10 years and would like to establish myself as a full pledge property investor to get away from the 9-5 rat race.

Appreciate everyone's input on this. Thanks!

 

I’ve heard the PropertyChat group is pretty good.
How’s your bankroll looking after 10 years in IT?
In my opinion, if you want to make fast progress you will need a lot of capital and a lot of cash flow.
This way you won’t be at the mercy of the banks and their ever changing lending rules.
You can achieve success in property starting from a lower base with limited cash flow, but it’s going to take much longer and you will be more under control than in control.
Get the cash first to fast track the process.
There was a good post on this recently, about building equity first, or something like that.

 

Grow Capital First

and this

 

How Will You Grow Capital over the next 5 years?

 

@MTR Yes, that’s the post I was thinking of

 

Yes, its a catch 22, you need capital first, makes sense.... how do you create income streams if you don't have the capital.....

 

Hi Ace,
Thanks for quick response. I agree the need to have a big capital to leverage from it.

We acquired 2 properties.
A rental which we renovated & then used the equity to buy our home. Family doubled along the way now with 2 kids.

We sold our home and currently renting. I have about 50k to invest. Not much to start with hence considering JV and other programs/opportunities.

Researching and finding out what options are out there, we are leaning towards an accelerated plan compared to buy & hold similar to what the above mentioned business are offering. I will have my first meeting with one of them today and see how it goes.

 

Don't have any experience with them but personally I don't think you need them. From my own experience and close peers around me, the people who generally want to accelerate their progress and wealth creation tend to be hardcore, proactive knowledge seekers/self learners as well as transform their mindset at the same time. Don't underestimate the power of transforming your mindset. Most do. Big mistake.

If you want to establish yourself as you put it 'full pledge property investor' then the advice I have is to read books/online resources and build your basic knowledge base as well as network with other successful individuals on here and else where. After a few months things will start to fall together and you will gain traction, a direction and likely a chosen strategy based on your current financial situation and risk profile. Imo this is probably one of the best ways to approach this whole game for someone who is very determined and wants to accelerate their progress. You need to know more than most other people investing (not that hard tbh) and then choose the right strategy for your goals and build it up from there as you put a simple team together.

A lot of wealth can be built up from quite a simple team, doesn't need to be overly complicated to start with. You will also need to have a realistic timeframe based on your current money you have to invest with and serviceability. Many people want to reach the moon but have limited fuel.


Only my 2 cents.

 

You can invest in yourself first, then you become the valuable asset which generates high returns.

No, like this:

 

50K? that may just enough to cover stamp duties, legal cost and all other cost associated with properties.

Keep saving and investing, there is no get rich quick scheme in properties
you may even learn in time selling your PPOR and renting and pocket 50K will end up costing you far more down the road

 

You have 50k and no experience. Why would someone jv with you?

 

Join one of the meetings or phone and chat to people who have achieved a reasonable passive income from properties
I find most people on PC are happy to meet or chat for a cost of a coffee

 

Sorry what I meant was I am looking for opportunity where I can invest my 50k with someone who is better experienced.
Thats why I am looking for a mentor. I am learning, going through seminars, reading, joining this group (which is awesome with all the responses and ideas)
Even though I am new.

 

Thanks Beano, that is a very good tip

 

You may find people to learn from, but no one needs partner who can only invest 50k. Really you need to save and learn.

 

Thanks, its good to know what amount could be considered as investment.
I agree, the need to save and learn more is much needed and its ongoing. Cheers

 

50k isn’t a lot of money for serious investors, it be pocket change for most of them and they no way want to introduce another party to the equation that could potentially causing a lot of head ache

On another hand if you meet scammers they take 50k off you easy.

So In short save more, educate yourself more because no one good will join you with 50k
And the bad one will take your money and spend it for you

 

Thanks for the sound advise. Its all appreciated especially for a newbie in this forum.

 

I think you can still do a lot with 50K as a start, eg. option strategy which may not cost you anything even. Let us know how you feel after you've spoken to Giumlli and the A team. I am also exploring to fast track my property investing by doing JVs. have a fair bit in my SMSF now.