Yay! Investing seems fun and scary, but mostly fun

Hi. Im Badger St Croix (john) from Melbourne and new to property investing.

I have two properties with my wife. Our PPOR and an IP that we built last year.
Im now in the process of researching strategies to roll again and get a 2nd IP this year.

The goal is that I can 'retire' in about a ten years on modest income and work on investing and developments full time.

I work as a project manager in residential building industry and am trying to absorb as much knowledge as I can.

Very green though

Ive been lurking on the site for a while but recently signed up and am off to my first meet-up next week in Melbourne.

 

Hi and welcome,

Fun and scary is good

 

Welcome aboard!

Just saw this. It's good to be scared

Skip to 15:25 luck, timing and fear!
Then go back and watch the whole thing

 

Hi @Badger St Croix

Welcome to PC!

Must be excellent working in the real estate industry already and know the building trade.

 

Every significant decision in life should feel a little scary

Welcome aboard @Badger St Croix.

Don't get too bogged down in strategies until you get clear on what your goal is. You want to 'retire' on a modest passive income. Great start. Determine how much that is and work back from there to figure out the best way to go about it

 

Welcome.
Where is your IP you built?

 

Investing should ultimately become boring. The reason is that you come to a point where you work out what works for you and then do that over, and over and over.

If it gets scary after that, you are doing something wrong or completely new and dangerous again

 

Northern Suburbs Melbourne

 

Exactly what I anticipate. Hence my goal is to be in a position where my property investments have got to a point where I can 'retire' from full time work and pend time doing my own developments for a bit more excitement. Thats the plan anyway.

 

Thats what I have done. Im sure it will change though I have a figure in mind that would support my wifes and my lifestyle and also allow me to further invest in small developments of my own.

 

@Badger St Croix - nice. That should help with your strategy then. Can you get there just buying and holding? Is cashflow important from day one? Will income be a limiting factor? Will you need to add value? Will small developments be the way?

I can say my goal has changed (become larger, and sooner) as I've progressed. I think it happens to a lot of us

Enjoy the research!

 

Good luck achieving your goals.