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Spludgey's introduction

Discussion in 'Introductions' started by spludgey, 18th Jun, 2015.

  1. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    688
    Location:
    Sydney
    I'm a 32 year old engineer and started investing around five years ago and have bought the following so far:
    • 2010: House in Umina Beach NSW
    • 2012: House with granny flat in Woy Woy NSW
    • 2012: House in Rockhampton QLD
    • 2013: House that's divided into two flats in Rockhampton QLD
    • 2013: House in Logan QLD
    • 2014: PPOR (house) in Sydney
    • 2014: Semi in Elizabeth SA
    • 2014: Semi in Elizabeth SA
    • 2014: House in Elizabeth SA
    My strategies are to focus on high cashflow but I keep in mind that I look in areas that may also have capital gains down the road and aren't reliant on just a single industry. They have to be close to cities or be a regional centre.

    Other than investing, I'm very interested in anything that has to do with science and I enjoy spending time outdoors. This year I've also gotten into cycling and have now done well over 1000km so far this year, which is pretty good for a couch potato like me.
     
  2. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    763
    Location:
    Sydney
    2014 kept you busy spuldgey!
    Repeat in 2015?
     
  3. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    That is quite a rate of acquisitions.

    What's your portfolio cashflow look like today? Positive by 5-figures, I assume.

    Didn't know you were a lover of science. I'm in good company, it seems!
     
  4. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
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    1,443
    Location:
    33°41'24.7"S 150°55'34.3"E
    Congrats on the cycling. I took up cycling in 2010 after losing 30kg so was also a couch potato. Ended up cycling 4000km that year. Most k's I cycled in one week was 300ish when I was trying to reach my goal of 4000km in one year. I prefer challenging bushwalking now.
     
  5. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,595
    Location:
    Adelaide, SA
    Not a bad collection going on at all Spludgey :)
     
  6. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    688
    Location:
    Sydney
    I've only lost 2kg so far, but I can tell that I've lost a lot of fat and gained a bit of muscle, especially in my legs.

    We'll see, I'd like to buy at least three more this year, but it will be of much lesser value than last year if you include my PPOR.

    It's just in the 5 figures, yes. The good thing is that it's still negatively geared though. Love depreciation schedules!

    I'm not too much into astronomy (though I'll still read about it if there's nothing else around), but other than that I'm very interested in science and technology. Some of my regular youtube viewing are the Veritasium, Vsauce (1) and Kurzgesagt videos. So if you haven't seen those yet, they're worth checking out.
     
  7. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Adding muscle to your legs will add heaps of weight so you must be down plenty of fat from cycling.

    As for YouTube, I'm a subscriber of the Vs, haven't heard of Kurzgesagt though so thanks for the tip.
     
  8. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    863
    Location:
    Sydney (West) and Canberra
    Haha you've done very well for yourself spludgey - great work!
     
  9. Famil Man

    Famil Man Member

    Joined:
    20th Jun, 2015
    Posts:
    18
    Location:
    Rockhampton
    Where did you buy in Rocky mate? Have you noticed any CG?
    I am building up equity/cash deposit for another purchase in the not to near future. (most likeyl in rocky)
     
  10. C-mac

    C-mac Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    797
    Location:
    Sydney
    Well done Spludgey! A great accumulation in such a short period of time!

    Of all the properties I'm actually curious to know what growth you've seen out of your Woy Woy one. Care to share some insights on it?
     
  11. Perp

    Perp Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    455
    Location:
    Brisbane
    Well done on your portfolio, and welcome to the Kiva team, too. :)
     
  12. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    688
    Location:
    Sydney
    They're both in Park Avenue.
    To be honest, I wouldn't buy them again. There haven't been any capital gains since I bought them, vacancy rates are fairly high, insurance and council rates are very expensive.
    But the good thing is that the yield is fairly high so that they're definitely paying for themselves.

    I think even though the property purchases didn't turn out perfectly, it's still better than doing nothing and I learnt through it, so I'm not regretting buying them.

    This has definitely been my best purchase to date. I'd buy ten more of them, if I could.
    I paid $280k for the worst house in Woy Woy and a granny flat. It's a one bedroom fibro in a pretty sad condition without an internal toilet and an outhouse in the back.
    The things that it has going for itself is that it was renting for $410 per week (for the house and the granny flat) and is sitting at $425 now, plus as it's sitting on 700m2 of medium density land, it's value would be around the $400k mark now, which are great capital gains.

    Thanks, let's hope my first "investment" is a good one!
    I'll probably make a few more as I really like the concept.
    I'm assuming that it's tax deductible as well if not paid back and you can put it under a captial loss?
     
  13. tomlemke

    tomlemke Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    359
    Location:
    Newcastle
    congrats mate great read!
     
  14. bob shovel

    bob shovel Well-Known Member

    Joined:
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    Posts:
    5,384
    Location:
    Somewhere in the land of Oz
    Nice work spludge! (can we call you that?:D)
    What flavour engineer are you? What industry?