Poll: New financial year, what is your top priority in next 12 months?

Hi,

Just curious what people's focus is for the next 12 months, able to select more than one. For me it is renovating my ppor and buying one or two more IPs. I know some may have additional but I ran out of spaces on the poll!

 

Renovate, buy next IP.
Will research developing as well.

 

Looking to really map out a finance plan and aquire some more properties. Think it is going to be a big one this year!

 

I voted for 3 options deleverage, invest in other asset classes and add another IP. I don't think that's a contradiction provided debt is reduced somewhere.

 

Possibly add another IP.

But I am looking for a change in job so might not happen

 

Add another ip
Look into other asset classes as I'll be out of the game for a bit changing jobs etc. Know a fin planner so might see what he has to say
Also look into other income stream/business and possibly some studies (yuck)

 

Just have fun and enjoy life.

 

Buy my family a house.

 

I'm in the process of searching for my next IP. Also topping up a portfolio of shares and ETFs.

I'm going to take more control of my super so I'm going to shift 80% of my funds towards direct investment in a selection of ETFs within my super fund. Waiting for the June 30 results to appear so I can decided how to invest the remaining 20%. Thought about an SMSF but they seem too complex and fiddly as well s being an administrative burden.

 

Build PPOR, deleverage and invest on different asset class... if 12 months is enough time

 

12 months is plenty of time... don't underestimate what you can do in a year....

Just have a plan, what will you do by next month. Write it down. Review it regularly and tick off what you completed. Can be little and big things, like engage a builder, get a loan etc. Share it with us/me to keep you accountable. Next month, update it - write your new goals. Continue doing this every month... you'll get more achieved than you would have thought 12 months ago.

 

I also voted for 3. New PPOR. Invest in other asset classes and deleverage. Though current PPOR will become an IP so I guess that's 4 votes by default.

 

My savings ability is kinda limited to the job at the moment, have planned the finance for the entire year including the move but I wish it could be better-faster

 

Finish renovating current PPOR
Land settles for new PPOR later this year
Sell an IP
Build new PPOR on our block early next year
Covert current PPOR into IP

Wow, writing that out I have a big 12 months ahead

 

Retirement looks probable within next year or 2. Spreadsheet says we can do it anytime we want.

 

My goals atm are to sell an IP, then use that freed up money to buy something/s with better cashflow and probably better future (near term/mid term/long term) CG.

That something i'm not sure of just as yet... maybe commercial or a land banking play (Recently rezoned land or a heck of a great location) but also giving good current yields.

For me, CG is all about looking at future demand vs supply. High demand with low supply --> higher future prices...
But must remember cashflow. I want a cashflowing investment with likely CG.

Edit:
So anyway... if tldr....
I plan to sell 1 IP and buy something to replace it with better cashflow and possible CG. End of story. The how and what are secondary questions.

 

Stop working is the only goal this year.
Will live off rent while doing all the things I didn't have time to do before.

 

voted for start/grow business and invest in other asset class.

 

I voted live off rent even though that's what we're currently doing. Not planning on making any changes.

 

I think I would set your priority to be, see what you can do to build savings/equity and take action in improving that.... that would be my advice to you looking at your situation from my pov. Once you have that you can move on better/quicker.....
You know I airbnb... could you do that?