YIP investor of the year - Steven Ryan

Ah, so investing in suburbs starting with the letter "M" is the key... Congrats, @Steven Ryan!

 

Money Making, Meditation.. all starts with M
Congratulations Richard Feynman! I like to remember you as 'Richard Feynman'

 

Hey mate, contratulations. The haircut looks good.

 

Also know one of the other guys who was one of the runner up's
Ralph Nicholson..great guy

 

Congrats @Steven Ryan

Well done mate. I enjoy your contributions to the forum. The YIP feature was a good read too.

 

Nice one Steven , congratulations!

 

You're just saying that cos now he's the spitting image of you

 

Congrats @Steven Ryan!

 

Congratulations Steven. You've done very well and it was great to see your story in YIP!

 

You forgot Mindset

Also DaveM ends in a M so thats also close

 

YIP sent me a copy of the full article (incl other winners) which I'm free to share. So, here it is:

(let me know if you have trouble downloading)

 

Congrats! Steven Ryan what's an inspirational story, 15 yrs fixed interest rate at 8%....and then turn it all around. Amazing.

 

Thanks for sharing Steven, well done mate! Not what I expected with the Marrickville units but you certainly jumped into Sydney at the right time.

Care to share the basics of each of the units? (bedrooms, bathrooms, number in complex). In your strategy are the units all a long term hold?

 

Good on ya. And, I spent 10 bucks buying a copy to read. Never mind, I know of a few young 'uns who would benefit from reading this so have downloaded and will forward on to them.

The one thing I was very impressed with young skywalker was sharing errors your of.

Most (and I mean most people in real life and especially in media do not share their mistakes like your fixing of interest rates and the timing working against you and the calculated breaking of those loan terms and how it set you back both time wise and financially. It takes a big bloke (and ya ain't that big in person) to share errors for the information and education of others. Another person, however on the equities front, who I heard speak once declare his errors in the stock market (and this guy is a professional commentator) was David Bassanesse. Most of those "gurus" can do no wrong according to themselves

Well done again Steve. I know that your future ambitions and aspirations shall be met as you hasten slowly

 

8.09%. Even worse

Longterm hold but I never say never. IMO, Marrickville will outshine most of Sydney in the inevitable lull we're entering now and perform excellently in decades to come because of great transport 4 train stations either in, or within 1 min walk of the suburb, light rail, multiple citybound bus routes), amenities (a huge % of the suburb is parks and open spaces including the Cooks River), a pro-active council, massive investment – over the next 5-10 years hundreds upon hundreds of millions are going into the area (shopping centre upgrades, new library etc), along with it's out of control gentrification. There's a dozen hectares of commercial/industrial stuff set to be rezoned over the next 20 years as well.

On to the apartments themselves..

All within 400m of Train + Light Rail + Bus in 1960s double brick buildings. And importantly, they're not in walk-ups. There's plenty of space and each apartment's strata allocation gives it more sqm of land content than it has of internal living space. Not easy to find, especially 8km from the Sydney CBD. On street parking isn't an issue (yet) either.

2010 - $313,000 - 1 bed, 1 bath. 18 others in building.
Elevated ground floor, north facing, floor to ceiling windows, internal laundry bla bla. 50sqm internally. Rent $400/week.

2013 - $460,100 - 2 bed, 1 bath. 21 others in building.
First floor, nice outlook, 66sqm internally. Rent $490/week.

2014 - $500,000 - 2 bed, 1 bath. 12 others in building.
Second floor (top), nice outlook, 72sqm internally. Rent $500/week.

Rents have moved a lot in the last year and the 2 x 2 bedders are up for review mid year.

 

cheers for the story mate...a good read and well done

do you think you would have won if you didnt have the fixed interest story?

 

Who knows

 

This is a very stupid question but looking at the articles, how come none of these people (despite some large equity gains) are getting any cash flow to speak of? A couple of them have been investing for a lot of years. Am I misreading it? Just confusing because I get enough cash flow from my IPs to live comfortably on, so what are these people doing wrong, or what am I doing wrong? I've had similar equity gains.

What's the point in collecting houses, and equity, if there's no cash flow to contribute to your financial freedom? Apologies if I've misread it because I'm totally confused by the numbers. I guess they intend to sell up at some point and pay off debt of the higher yielding ones, but some of these people have been waiting a loooong time.

Edit: just scrolled down to the last couple who actually have good cash flow.

 

This all depends on what people are trying to achieve with property, and by when–which includes exit strategy. Some seek immediate cashflow, others use it to build wealth while generating income elsewhere and others have different plans such as amassing a mountain of equity on a cf negative/neutral portfolio with plans to liquidate some of the portfolio in the future to wipe out some/all debt and dramatically increase cashflow in one fell swoop.

For what it's worth, 5 years after my first purchase, my portfolio is currently "costing" me $3.50/day after tax (the article figures are a bit old now). And I'm ok with that. It fits into my larger plans

 

Yep, so many ways to achieve your goals. I couldn't understand it when I looked (not talking about your example particularly) but those who've been investing for years, hold a bit of equity in there but no cash flow at all, or actually still costing them to hold. Each to their own though, agree everyone has their own strategy.