Ten Year Investment Anniversary

Ten years ago I purchased my first property.

I had about $5000 at the time, parents went guarantor thankfully.

In the next 24 months I purchased every property I've ever purchased. PPOR and 3 others all in the same Brisbane suburb.

I went 50/50 on two of them with family members and eventually bought them out within a couple years.

All the houses I purchased were dumps requiring extensive work.

In this time I subdivided one property, and put a removal house on the spare block.

I've now sold two properties and hold 3 including my PPOR.

I did extensive work on my PPOR over the years, house going from 100m2 to 550m2.

I pretty much worked on houses for the past ten years, no holidays, just work.

So after ten years where has that all gotten me?

I currently have $200 000 in an offset account, and $1.5 million in equity on a portfolio worth $3 million.

My wife can afford to be a stay at home mum and I can afford to only work 4 days a week and spend lots of time with my family.

At current interest rates my investments are paying themselves off even when including principal payments.

If anyone has seen my Reno posts here you'll know I definitely took the hard road with property investment, lots and lots of back breaking labour doing all the building work myself. But after this last sale and being able to pay my parents back, and still having a couple hundred thousand in cash... I feel like these 10 hard years have finally paid off. A month ago we had about $1000 cash... It's so strange no longer needing to be stressed about finances and property Reno's and development taking up all our cash and time.

The plan from here is to keep doing what we are doing and then sell another house when the Brisbane Olympics arrive. And then semi retire. I'm currently 35yo so should be able to drop to one or two days work a week by the time I'm 45yo. At that point I'd like to start fostering some kids, and should be in a really nice financial position to dedicate time and energy to that.

So that's the journey so far

 

This is an awesome story, congratulations on your success so far! Goes to show what can be achieved if you are willing to work hard and invest from an early age.

 

Done well.

 

What an honourable thing to do. Well done and I hope you will be continuously blessed with your good deeds.

 

Haven't done it yet though and talk is cheap. Although as a kids counsellor I'm pretty passionate about helping kids so I'll keep doing it in one form or another. But I do like the idea of fostering

 

Yeah lots of hard work. Although I'm still really grateful and recognise I'm extremely privileged. Lots of people work just as hard just to make ends meet. I was very lucky to have been able to invest.

 

Awesome work @Tim86

We did similar and sold a place last year and went from having very little in the bank to having a very nice buffer, it’s definitely a weight off the shoulders!

Keep up the great work

 

If anyone has seen my Reno posts here you'll know I definitely took the hard road with property investment, lots and lots of back breaking labour doing all the building work myself. But after this last sale and being able to pay my parents back, and still having a couple hundred thousand in cash..

Some of those houses you posted several years ago were in need of a lot of work and the way that small area is changing very quickly you may be retired by 40..well done

 

Fantastic story. Well done.

It always sounds easy when you fast forward straight to the 10 year mark in story form. But I bet there were touch and go moments there, and you persevered though and got to a good place. Well done.

 

Yeah you aren't wrong. So many stressful moments. Developments knocked back, jumping through hoops with certifiers and council and engineers etc... Etc... It's not been a heap of fun. Many times where I'd wished I had never got into property investment. Lots of sleepless stress filled nights, tears shed, plenty of regrets along the way. But hopefully my family benefit from all of that for many years to come and it will have all felt worth it.

Handed my parents a bank cheque for $294000 today. Debt cleared with them. It's a nice feeling.

 

Yeah the last one I did I had to restump it and replace the floor and half the walls because of pest damage. That was a hectic reno. Came up really nice in the end though.

Salisbury is definitely growing a lot in value recently. Got a good $150000 more than we thought we would for the house we just sold. It's all a bit surreal.

 

Good on you! Truly inspiring story, thanks for sharing.

 

Well done!!
That's a great achievement. Looking forward to the next instalment.
Thanks for sharing.

 

Well done Tim! I've really enjoyed reading your renovation posts and seeing the progress photos.. That's some pretty impressive results. Enjoy the good times with your family now

 

Thanks mate.

 

Well done Tim. What an inspiring story and outcome. You sound like a wonderful person. So good your parents could help you get the the journey going, and amazing that you have repaid them too. Enjoy your time with your family.

 

I am new to property investing, hearing your story is very encouraging, thanks for sharing

 

Great to hear story of determination and grit. Any top 3 takeaways that you've learnt, or wish you knew when you started?

 

Well done! Keep going mate