Strategies for growing portfolio

+ 1

gee at 18 so many choices some many options

yes read and learn but also think about which paths you want to travel in life

take care

 

Rent it out. Definitely use a good PM a.k.a @Lil Skater
If you are not working permanently, go on a good 6-12 months backpacking trip. Enjoy the time when you can.
Not only will you have that 42k to help you with the trip, you dont have to worry about paying your rent in the meantime (if you were renting)
When you back, read up on this forum and others and also some books, if you interested.
DO NOT sell or invest any money unless you have your goals and steps to acheive them chalked out.
If you are single, be extra careful if you commit to get hitched. Try not getting a GF by telling her about your inheritance.
See a financial advisor. Start your journey with a clear head.
Keep posting your progress on this forum.

 

Disclosure. This is my Mum.

^^ Not my Mum

@Jake H, that’s an exceptional start and one that many people will be envious of. Use it wisely and don’t waste the opportunity, but it looks like you’ve got that pretty well covered by being here.

As above, don’t disclose this information either. Being so young people will try to take advantage of it and it’s not worth it.

I would rent it out too.

I assume you’ll be finishing school soon and said you want to go into a building company? I’d follow this path and build a career out of it. Use the income from the property and save. You’ll be able to leverage off that quite nicely whilst still young to build up a further asset base (whether that be in property or elsewhere) - but before you start purchasing other assets read and get the information you need before putting your money into it.

Also feel free to come along to meet ups, usually we meet in Mitcham and other members host a western suburbs meet. I went to my first one with Mum when I was 13 or 14, and have been going to the ones in Melbourne since I moved here at 18. Trust me when I say people will be super eager to help you out and give you some advice.