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Yay! Investing seems fun and scary, but mostly fun

Discussion in 'Introductions' started by Badger St Croix, 6th Apr, 2016.

  1. Badger St Croix

    Badger St Croix Member

    Joined:
    31st Mar, 2016
    Posts:
    6
    Location:
    Melbourne
    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.
     
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  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,603
    Location:
    Adelaide, SA
    Hi and welcome,

    Fun and scary is good :)
     
  3. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,394
    Location:
    Somewhere in the land of Oz
    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 :)
     
  4. monalisa

    monalisa Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    314
    Location:
    Sydney
    Hi @Badger St Croix

    Welcome to PC!

    Must be excellent working in the real estate industry already :) and know the building trade.
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    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 :)
     
  6. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,262
    Location:
    Melbourne
    Welcome.
    Where is your IP you built?
     
  7. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,241
    Location:
    NSW
    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 :)
     
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  8. Badger St Croix

    Badger St Croix Member

    Joined:
    31st Mar, 2016
    Posts:
    6
    Location:
    Melbourne
    Northern Suburbs Melbourne
     
  9. Badger St Croix

    Badger St Croix Member

    Joined:
    31st Mar, 2016
    Posts:
    6
    Location:
    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.
     
  10. Badger St Croix

    Badger St Croix Member

    Joined:
    31st Mar, 2016
    Posts:
    6
    Location:
    Melbourne
    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.
     
  11. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    @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!
     
  12. Kate Moloney

    Kate Moloney Well-Known Member

    Joined:
    10th Dec, 2015
    Posts:
    445
    Location:
    Australia
    Good luck achieving your goals.