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Discussion in 'Introductions' started by teetotal, 8th Nov, 2015.

  1. teetotal

    teetotal Well-Known Member

    Joined:
    7th Nov, 2015
    Posts:
    398
    Location:
    Sydney
    Hi All,

    Good to see many people like me curious to learn more about investment properties.
    I have recently entered into the property market after a long struggle to save up enough deposit.

    Hope to visit here regularly and gain/exchange knowledge. :)
     
    MsAli likes this.
  2. MsAli

    MsAli Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,147
    Location:
    Sydney, Australia
    Congratulations teetotal. Struggle = character building!

    Well done. Look forward to reading more about your journey.
     
  3. House

    House Well-Known Member Premium Member

    Joined:
    13th Sep, 2015
    Posts:
    767
    Location:
    Sydney
    Well done, it's a tough one to hand over that hard earned cash and start something like property investing. What's the 10 year plan?
     
  4. teetotal

    teetotal Well-Known Member

    Joined:
    7th Nov, 2015
    Posts:
    398
    Location:
    Sydney
    10 year plan is to retire (very optimistic, i know) :D.
    But 5 years plan is to create a mixed portfolio of properties, ideally 5-6 properties.
    My entry into the market is also a little different as i have only invested in OTP properties at the moment which will be ready in 2017 to realise the equity. So at the moment i have 1 and half year to save some more and once i gain some equity (hopefully) then i am getting into it with full throttle :cool:
     
  5. Ozzie in Texas

    Ozzie in Texas Well-Known Member

    Joined:
    3rd Nov, 2015
    Posts:
    497
    Location:
    San Antonio, TX
    My 10 year plan is also to retire. I'm also kind of stuck for the next year as that is how long it is probably take my husband and I to reestablish a credit history in the US (we relocated last year). I am absolutely dying to get my hands of credit. I often find myself checking out the local market in San Antonio and think, oh man. Yes - we could tap out credit cards and seek hard money loans to do it now......but then we would be forever stuck in a cycle of bad credit and high interest rates.

    Like you, just one more year.

    Just some examples of those I've been drooling over today.

    8311 Clays Pt, San Antonio, TX 78250-2883 - 3 beds/3 baths

    114 Noria St, San Antonio, TX 78207-7745 - 3 beds/1 bath

    The first one is in an excellent school district and from photos, the fence needs requires but other than that, it rent ready. A bigger renov budget makes it a potential for a potential flip.

    The second one is a rental.....its already renovated and for the price, potential rental return is decent.
     
  6. teetotal

    teetotal Well-Known Member

    Joined:
    7th Nov, 2015
    Posts:
    398
    Location:
    Sydney
    First one looks good...looking at the price and i know what you mean when you say you are dying to get your hands of redit...
     
  7. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,381
    Location:
    Somewhere in the land of Oz
    Looks like a fun working holiday! Head over do a Reno, watch a rodeo or two,then head home!
     
  8. Ozzie in Texas

    Ozzie in Texas Well-Known Member

    Joined:
    3rd Nov, 2015
    Posts:
    497
    Location:
    San Antonio, TX
    Well - one the bright side, I finally found a lender who is willing to finance property purchases to foreign / non-US citizens today. No more waiting around for my US credit score to improve.
     
    teetotal, Gockie and Jaik2012 like this.