Hi all, Glad to be involved in this terrific forum and am hoping to learn much off many experienced investors. A bit about me - I'm 23 years old and have been looking into property investing for the last two years. My ultimate goal is to build a passive income of $100k - $150k (AT) by the age of 50 for myself and my partner. I do not want to spend my older years working to pay for my lifestyle. I want to enjoy going out, taking holidays, and spending time with the family I will soon create. I think it's imperative that the people of Australia (and in particular young people) to understand the importance of financial security at at the least, financial literacy. As the Australian population continues to grow at faster rates that historical data shows and faster than previous forecasting, and doubled by the fact that increases in living standards will mean we are all living longer, healthier lives, the government is going to have serious problems if people continue to believe that the aged pension will be sufficient for their retirement lifestyle. (This is a rant for another thread) I am currently looking in Perth for established properties with land sizes over 700sqm under $450k. (Ideally under $430k to access all FHB concession, but also flexible on land size considering this) I think its possible but once theyre listed theyre not listed for long. I've had a meeting with a local buyers agent and mortgage broker to understand my position, but note the buyers agents fees are not within my price range at present. Hence i'm investing in my own education and going to do it alone (for now). I'm looking forward to speaking to like minded individuals in the forums and will likely post my proposed strategy in the strategy thread at a later date. I'd also be interested in organising local meetups to speak to established property investors, and will look to potentially add an educational component to these meet ups (Ie, Knowledgeable speaker on zoning, finance, etc) Regards,
Hi and welcome to the forums! Have you been reading the forums for long? I think the best education you can give yourself is spending a good few months reading as much as you can here pretty much religiously - especially since there are a lot of experienced Perth members with local knowledge and contacts too. And a funny coincidence about wanting to organise a meetup - we've been overdue for someone from Perth to set one up actually... @charttv @Westminster The usual meetup for us is just a casual chat at a pub or bar over a long table.
Absolutely. First person to mention when is the next meetup gets the honour of orgnising it. So thanks @Ketsle !! The upside is that you get to hold it wherever you want. Don't bother asking people if they want a weekday evening or weekend. Just pick a date and a location and people will turn up As a FHOB a BA will chew through your deposit so I agree that it's sensible to go it alone with some guidance from your new internet BFFs (aka propertychat) and some common sense. There is no rush, the deal of a lifetime comes along once a month.
Cheers all. @thatbum I have been reading these forums since joining (not that long) however without sounding pretentious, feel as though I understand the fundamentals of the resi investment strategy a bit better than the average newcomers that are posting here with no knowledge whatsoever. (Not that thats not ok, although im sure it gets frustrating for the older members that see those posts often) I'm deep into the podcasts, getting books from the library (Taken with a pinch of salt as there are A LOT of **** "your property will double every 7 years!!!" books), and also reading CBRE/JLL/Colliers etc market updates and reports. P.s I'm actually studying Property Development & Valuation at curtin. Its a great course and perfect for me, however heavily skewed towards the Valuation theory side and at present, I have not done any development units. As they say the first purchase is the most important, so i'm hoping to get my foundation rock solid before jumping in. Its just a matter of saving the initial capital, the broker has indicated I/we can easily service a ~$500k loan, its just the deposit that is hindering me right now. The purchase will hopefully happen in 2019. Re Meetup: Happy to put my name forward for organising! Watch this space
Hi Ketsle! I'm from Perth too, and started my journey at 23 just like you! I would love to come to the meetup and put a face to all these names! Cheers, Angad
Not a problem Angad you'll be sure to get a message once it's organised. I got a message about your event on the 19th also, however im going to another finance seminar on that day at the same time. Is there any chance your event will be webcasted or recorded? Cheers
In reference to a meet up, what is typically best suited to everyones schedules? Weekday? I was thinking maybe a saturday arvo/lunch although don't want to cut into peoples saturdays if they have sporting/family committments. Regards,
Weekend lunches/arvos have been successful in the past, as have weekday evenings. Your pick really, and there's always going to be some people that can and can't make it because of the time.
