Join Australia's most dynamic and respected property investment community

Where do you want to be in Five Years Time,.

Discussion in 'Investor Psychology' started by willair, 25th Jun, 2015.

  1. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    1,693
    Location:
    Brisbane..
    Just wondering how far do people plan ahead,and where will you be in that time frame?..

    Five years in investing is not a long time,and so much can happen,.
     
    BigL likes this.
  2. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    685
    Location:
    TAS
    Hehe... When I was in primary school I was planning businesses to run in my retirement! Right now... I have a very structured 25 year plan.

    In the next five years I will but IP2, buy land and build PPOR and then buy IP3 whilst smashing off PPOR debt.
     
    SWprop likes this.
  3. Kinnon Bell

    Kinnon Bell Finance Broker

    Joined:
    14th Jun, 2015
    Posts:
    475
    Location:
    Cairns
    I am a massive planner. I like to have all details figured out for the short, medium and long term. Fortunately I'm now fairly adaptable so if it doesn't go to plan it's not the end of the world.

    A high level view of my 5 year plan is to invest more, grow my business and upgrade PPOR.
     
    SWprop and bythebay like this.
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,145
    Location:
    Canberra and Sydney
    Courtside at an NBA game :) ok - well maybe just in attendance at an NBA game.

    We were supposed to be heading to the states later this year but a nice little surprise (third child) has put a halt to the trip.

    So 2020 is the next big holiday for the fam - and it's going to involve dad dragging everyone around to watch lots of live sports in America.

    Oh and of course there's all the business/investing stuff goals too.....without those the really fun stuff wouldn't be possible.

    Cheers

    Jamie
     
    Jerry O and WattleIdo like this.
  5. Hodor

    Hodor Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    742
    Location:
    Homeless
    Only have 5 years of my 10 year plan to go :p

    Which means steady purchasing of balanced IPs (between CG and CF) after that all my goals are based around travel, friends and family.
     
  6. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,382
    Location:
    Somewhere in the land of Oz
    we have 12 month plan - mostly with work/travelling, and cash saved
    short term goal <5yrs buying ip's
    med term goals 5-15yrs cg kicked in buy more ip's, part time work. but also starting a business
    long term 20yr+ position to retire, probably wont and keep working.
     
  7. Brian84

    Brian84 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    961
    Location:
    Sydney
    I'm hoping in 5 years time I will have atleast 10 ips. I haven't got any yet but I still have hope to get to where I want to be with my goals.
     
  8. tomlemke

    tomlemke Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    358
    Location:
    Newcastle
    5M in assets :mad:
     
    Redom likes this.
  9. jafeica

    jafeica Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    99
    Location:
    Sydney
    Very similar to my own thinking
     
  10. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,382
    Location:
    Somewhere in the land of Oz
    get over to the mindset page. i dont want to hear you say "hope" again! you will do it!
    Now drop and give me 20! You're my boy blue!!

     
    SWprop, LMD, Hysteria and 1 other person like this.
  11. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,217
    Location:
    At work
    No idea.

    I just completed my 10 year plan, going to consolidate and settle in for a while.
     
  12. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,434
    Location:
    33°41'24.7"S 150°55'34.3"E
    Current goal is 3 IPs by mid 2016 and 7 by mid 2020. That will put me at a portfolio value ( including PPOR ) of around $3.5mill in today's dollars if I buy IP's of similar value to my recent purchase.

    I really need to run better projections once I get a better understanding from the operating costs and actual income from my first IP.
     
  13. Rixter

    Rixter Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    572
    Location:
    Portfolio Perth Brisbane Sydney Melbourne
    We do 1,3,5, 10 & 20 years goals...set them working backwards from 20.
     
    Daniel007 likes this.
  14. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,434
    Location:
    33°41'24.7"S 150°55'34.3"E
    A great approach!
     
  15. Brian84

    Brian84 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    961
    Location:
    Sydney
    Yes drill Sargent lol thanks for the confidence boost bob.
     
  16. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,560
    Location:
    Sydney or NSW or Australia
    Living la vida loca.
     
  17. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,707
    Location:
    Perth
    In the next 5 years I am hoping to finish building a townhouse in Cloverdale, develop or sell my Melbourne property, buy a block in Perth and build a main residence and buy a renovator in Perth, renovate and sell. Not sure what after that but I'm sure it will be a good time to reassess my goals.
     
    SWprop likes this.
  18. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,413
    Location:
    Perth, Melbourne, USA
    Doing what I am doing today, but having my 2 daughters on board.

    Mtr:)
     
    sanj and Perthguy like this.
  19. Bayview

    Bayview Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    2,716
    Location:
    Mornington Peninsula
    I'm 54 so, retired in 5 years from having to work, but still do a few property projects of some sort, will still have the workshop, but very limited appearance at it...
     
    Last edited: 26th Jun, 2015
  20. Bayview

    Bayview Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    2,716
    Location:
    Mornington Peninsula
    Don't you mean; $5m in assets - but with a nett yearly return of 10%
     
    Last edited: 26th Jun, 2015