Whats your strategy to become financially free thru propertie ?

My current building has NRAS on the first two floors & given the number of police call outs & domestics I've witnessed, umm yeah there is definitely some housing commission similarities, its the main reason we would never buy in this building.

Based on my experience of watching several years worth of NRAS tenants come and go, pick the old pensioners. They are quiet and keep to themselves.

Current NRAS gems include:

• "Methy Pete", the really nice meth head labourer (think he's a painter?) who I've seen passed out in the lobby and gets so cooked he leaves his ****** bicycle and groceries in the elevator. Actually a really nice guy though.
• "Rapey Jesus", Because he looks partially like Jesus & partially like a sex offender. Pretty bad BO. Fairly chill except for when he's high/drunk and locked out of the building, then he just yells until someone lets him in.
• "The Fijian Screamer", Large middle aged Fijian guy. Mostly seems like a gentle giant until the football is on then there seems to be a 50% chance police will be visiting his unit to stop him/his partner screaming at each other
• "Specky Eminem wannabe", seems to mostly hang out on his balcony listening to rap & smoking the wacky tobaccy 10+ hours a day. Based on the people I see coming and going from his unit I'm pretty confident he's a drug dealer. He looks like a strange mix of Harry Potter and and a stereotypical rapper. He looks 15 but he's probably at least 18. Got some really bad tattoos.

 

Financially Free, however you can never have enough... that's not called greed, its called passion

This is what I currently do -

Develop property ( 3-4 unit developments) at least 1 or 2 pa (Perth and Melb market)

Buy property in rising markets as many as you can and then sell down to turn negative cash flow to positive cash flow and reduce debt.

Buy development sites (Melb market) and put together plans and permits and on sell to builders, much shorter time frame, less risk and works well in Melb Market.

Buy US cash cows to generate income, network and learn from the locals.

MTR

 

@Plutus hilarious write up mate. Comedy gold!

 

interesting ... will need to learn this from you

 

Hey,

Did u end up finding your perfect strategy?

How's your portfolio going

 

Step 1, Slumlord: I've bought 10 low-value high yielding IPs, which has also allowed me to buy properties worth over 20 times my annual salary. I've had good capital growth in some. So phase 1 complete.

Step 2, Development: I was very close before Covid19 hit to start developing one of my properties and putting townhouses up. I want decent quality, low energy and sustainable developments, I think there's probably a market for that.

Step 2B, Development ad nauseam: If I enjoy step 2 and make very good money, I might just keep doing that for a while and potentially can step 3.

Step 3, CIP: Buy a commercial investment property for $3m+ that returns 7%+, borrowing as much of the money against the RIPs as possible, due to the lower interest rates. This would give me over $50k positive cashflow.

Step 4: Retirement!