Found that last post quite inspiring. But with three young kids, I'm afraid to take risks. Still, we've managed to get 3 IPs and doing OK. Lucky to have got in when we did.
Meanwhile there are so many RE promoters continuing to ride the boom wave long after the boom has ended…..but I wonder if the numbers attending those seminars and buying those books are dropping. Surely they've made enough money by now….it's truly pitiful the way some of these gurus are still trying to squeeze out a buck from the ever-optimists or chronic procrastinatators who've well and truly missed the boom boat.

But I agree there's money to be made in any market. Finding the time to find that increasingly elusive niche (and then pursue it) is the problem! Good on you Kylie. I hope your success hasn't come at too high a personal price because if you've managed that challenging work/life balance then your achievements really are impressive.

And I agree with you – teamwork is sorely lacking when people complain that they can't get ahead.

thanks for sharing your story.

Carlin

Unfortunately mags like "Your Investment Property" are not independant commentators on the market and where it's headed. Like real estate agents, they will always be the ones talking the market up.

Bank commentators are also not independant – falling numbers of people taking out loans means they, too, are under pressure to encourage investors back into the market.

As a previous post said, just do your sums ….and most times you'll see that properties are still badly overpriced for the returns you can expect.

cheers,
Carlin

Paying interest only means not just leaves more money to buy more IPs but also more money to pay down non-deductible debt on your PPOR. Can't see the benefit off paying down principal on an IP when you still have outstanding debt on your PPOR.

The most effective gauge for the property market here in SA is The Advertiser, the local rag that derives a huge chunk of its revenue from real estate advertising. When it starts publishing "get rich, buy property now" articles you can be sure the market's either flattened or dropping.

Last Monday's article in the money section really takes the cake. A panel of real estate agents, real estate insurers, real estate developers and real estate lecturers. Guess what?!!! They all think now is a great time to buy. Incredibly, the developer also thought it was a good time to buy land and build. Well, knock me down with a feather!!!

Apologies if this has already been answered, but what is the ratio of mentors to participants? An approximate figure would do.

thanks.

I've been following properties in the 'to rent' columns in The Advertiser and some are appearing week after week. I've spoken with a few agents who've admitted their property managers have had to decrease rents quite substantially on some properties to attract tenants, especially in outlying suburbs.

Envy's not an attractive emotion, but I admit to feeling a bit envious as I read some people's upbringing stories. How lucky to be raised by parents who understand investment.
I'm the youngest of 7, born to very loving but financially unsavvy school teacher parents. They were very careful with their money – they had to be, with so many kids and such low incomes. Though I never went without, I do recall that some school camps were missed and new clothes were rare as my parents struggled to put us through private schools.

My mother showed some initiative, buying land when single in her early 20s and newly migrated. It's that land that enabled my parents to build a large enough home. But there were no IPs, just a few managed funds with pathetic returns. I was very conscious of money, or lack of it, from a young age which is probably why I set up my own little business as a 10 year old, pet minding, dog walking and garden watering. I was determined to be self sufficient and – being an animal lover – I had acquired a menagerie that needed income for their care.

My initial interest in investing came in my late 20s, largely through a painful separation and subsequent stupid decision in virtually giving away a beachfront (yes, you read correctly) property to my ex. But good comes from bad sometimes, and I started to seek ways to earn income other than my 9-5 job, interesting as it was and still is. I started to read books, articles and anything I could lay my hands on that might educate me.

Unfortunately it took me a long time to act. I bought a PPOR with my now hubby in 1997, but it wasn't until 2004 that we started to buy IPs. Now 42 and – like others in this thread – have set goals and staying focussed in a bid to achieve them. And I am intent on enjoying the journey towards achieving them – investing can be hard work but it should also be challenging and fun AND not all-consuming. Life is over before we know it, for some much sooner than is fair. One saying that I remind myself of often is "You can always make more money but you can't make more time."

Despite being a late comer to investing, I have no regrets about what I did instead in my 20s, which was to travel widely around the world. Those solo experiences in remote lands are what have shaped me and I fully recommend to any young person to experience the world before tying yourself down with mortgages and other responsibilities. You will never have that time again, with the energy that 20-somethings have. Travel does give you a wider perspective on life and priorities, and also builds self confidence.

My wonderful hubby and I still travel, but our journeys are now partly funded by rental income. So we are slowly starting to reap rewards for our efforts. It's good to also have the funds to support my elderly parents, some charities and the occasional friend in need. Without wanting to sound like Pollyanna, it is a privilege and good for the soul to be wealthy enough to help others.

Good luck to all of you on your journeys, and thanks for sharing your stories.

Carlin

I think you're VERY wise to consider the house's orientation. I've seen some lovely houses with nice big open family rooms at the back, but the windows face west. Stinking hot in summer, very expensive to keep cool.
The right orientation does the right thing by the environment and your wallet. We built with orientation in mind and – combined with extensive insulation – our heating/cooling bills are very low.

In terms of an investment property, it doesn't hurt to be able to say "north-facing living areas" – and certainly it's a selling point.

There's plenty of info on the net about where to site the different rooms if you decide to build instead.