Hi all, My name is Shawn. 23 years old as we speak and started my Property Investing journey earlier this year. A bit about me. I grew up in a middle-class family where my dad was the sole breadwinner and my mum effectively quit her job as a teacher when I was 7-8 to focus on raising me and my younger brother (I'd like to say she's done quite a good job!) I graduated from University earlier this year but have been in the workforce since 2013 (first job did not pay so well, but the one I started in January this year and the even newer one I'm starting next week have given me a whole lot more income than I myself thought I was worth) I work in an industry where most people tend to stay back till 7-8pm and are constantly on the move and a lot is expected of you. However, I am unlike the rest of my colleagues, but more so like the Bill Gates quote " I choose a lazy person to do a hard job. Because a lazy person will find an easier way to do it" From small things like putting a soap bottle on our water filter at work (which is really slow!) to automating most of our reporting and creating new /simpler processes around how we do our day-to-day work, I've done alright. However I feel like my 9am arrivals and 5pm departures have been frowned upon by most of the office, which lead me to feeling like I wanted to get a second source of income to help me with escaping this rat race. This is when property came into the picture. I've acquired 2 properties this year. 1 x 3 bdrm townhouse in Mildura VIC - $285,000 1 x 3 bdrm Highset in Slacks Creek QLD - $320,000 They are doing their thing, but my end goal is to walk away from the day job at 35 (so 12 years from now). I'm saving 80-90% of my income and still live at home in an attempt to achieve this, and by buying positive cashflow properties with potential for CG in the future, I hope to achieve my goal. (I know Mildura does not have much CG) Hope I get to meet other PC'ers soon!
Nicely done so far. At 23 you are in a great place. Do you know what kind of income you would require to walk away from your job? Fairly generous parents letting you live at home still, will this be ongoing for the next 12 years? Lifestyle goals can change in this area! Best of luck, looking forward to seeing your progress
Sounds like your doing great and your about 10 years ahead of most ... By not wanting the ridiculous hours and having an exit plan! You've barely bent over for working life yet! Interested to hear what industry, but that is the norm for a number and it depends how you want to play the game with the hours and career progression. Rather than a second job stick it out and work your way up perhaps to get the extra income. Play the game and do some over time. My ex boss hated me leaving at 5 (I loved it! And made that clear when I started) but he was an unorganised micro manager. Show face and do an extra hour... But make sure your reading this forum for an hour! It may improve the work colleague love
@Hodor Parents won't let me live at home for next 12 years. Plans are to grab the 3rd property as a PPOR (small apartment in inner-west Sydney) With that in mind, I think I would walk away from the job with a 50% LVR on my PPOR & $8K a month net income. @bob shovel I can't do it. My brain is programmed to work within those hours and I get very very restless if I'm in the office after 5. Before 9 is generally okay but after 5 I just want to get out/get home ! @MsAli Thanks MsAli!
Gday Shawn, welcome aboard. That's a good quote. I'm a bit lazy, but I can also get a lot done in a short time. Sounds like you've made a good start. 12 years should be plenty of time if you play your cards right
@Shawn I'm the same! Go in early then, the trick is to send an email so it's noticed what time your in then when everyone rocks up at 9 you have to say "hi afternoon shift "
Hi Shawn, Congrats on your success and achievements so far. Keep doing what your doing and you should be able to reach your goal. might see you at a western Sydney meetup one day.
Now you have an income in mind you can use to work back and work out how much property you need to acquire, LVRs and rental returns etc. Having specific ideas about these things helps you track progress and stay motivated.
Nice one @Shawn. You're off to a cracking start. Most of the folks around here would not have had one property at age 23, let alone two. Bright future ahead.
Wow Shawn good on ya for starting out so young. Well done for having 2 properties already. Stay focused I am sure you will achieve your goals
