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Discussion in 'Introductions' started by AnDy62, 22nd Oct, 2018.

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  1. AnDy62

    AnDy62 Active Member

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    Hey guys and girls,

    New member here. Work in professional services. Gen Y bloke!

    Bought my first property - an older style 2-bedroom unit a couple of year ago and got the property bug.

    Watched the stories of the Nathan Birchs of the world with interest. I left uni at 24 with $60k in debt and no real assets and realised I'd been sold a pup.

    Cheers,
    Andy
     
    AnDy62, 22nd Oct, 2018
    #1
  2. wylie

    wylie Moderator Staff Member

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    Welcome to the forum @AnDy62

    I'm curious to know what you think is the pup you've been sold?

    Is it having gone to uni and wishing you hadn't? Or something to do with having bought your first property?
     
    wylie, 22nd Oct, 2018
    #2
  3. AnDy62

    AnDy62 Active Member

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    Partly taking the ****. But I regret going for uni as long as I did and having a surplus degree which really only acted as a financial anchor. The thing is at 17 you don't know much about the world, hey I got 99 let's do law... hmm.
     
    AnDy62, 22nd Oct, 2018
    #3
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  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Welcome aboard Andy :)

    Cheers

    Jamie
     
    Jamie Moore, 22nd Oct, 2018
    #4
  5. Buynow

    Buynow Well-Known Member

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    Welcome Andy - enjoy the forum
     
    Buynow, 22nd Oct, 2018
    #5
  6. Eric Wu

    Eric Wu Well-Known Member

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    Welcome to the forum Andy.

    What is the for next step?
     
    Eric Wu, 28th Oct, 2018
    #6
  7. MTR

    MTR Well-Known Member

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    Good work.

    I would be paying close attention to property cycles, get this wrong and your gains will go south and you will erode any capital you made.

    Dont wish to rain on your parade, but this is critical if you want to succeed moving forward.

    Market sentiment is negative in Australia atm. Just do the research before you decide to jump in. This combined with low yields and interest rates rising. Most property investments today will be lucky to keep up with inflation.
     
    Last edited: 28th Oct, 2018
    MTR, 28th Oct, 2018
    #7
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  8. Guest

    Guest Guest

    Welcome.

    What's with the profile pic? Are you an NPC? :D
     
    Guest, 29th Oct, 2018
    #8
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  9. AnDy62

    AnDy62 Active Member

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    Thanks all for the welcome.

    I'm not rushing into things by any stretch. I'm a seasoned investor, but have mainly been in stocks to date. Experienced enough to have got a belting during the GFC so I know about market cycles.

    Currently, I am weighing up the positives of the market (strong population growth) against the negatives we all know about (credit tightening, interest rates etc). I like the regional markets going forward, but don't see a huge downside in waiting and building up some more cash. Agree it's not a time to be going headlong into debt without an understanding of risk.

    A
     
    AnDy62, 29th Oct, 2018
    #9
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  10. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    JacM, 30th Oct, 2018
    #10
  11. The Y-man

    The Y-man Moderator Staff Member

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    That financial anchor can be very important!

    By surplus degree - you mean you did a double?

    I'm back at uni to upgrade my degree as I can no longer hold the position I am in due to policy changes :oops:

    The Y-man
     
    The Y-man, 30th Oct, 2018
    #11
  12. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Hi Andy, welcome to the forums. If nothing else, that law degree might enable you to have no LMI for life - so that's a semi-win. :)
     
    Jess Peletier, 30th Oct, 2018
    #12
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  13. The Y-man

    The Y-man Moderator Staff Member

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    ... and do your own conveyancing? :D

    The Y-man
     
    The Y-man, 30th Oct, 2018
    #13
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  14. AnDy62

    AnDy62 Active Member

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    Yeah Economics degree as well. I fear I may need to do further study at some point as well! :eek:
     
    AnDy62, 30th Oct, 2018
    #14
Accountants - Washington Brown Values Your Time